Localities like Whitefield, Bannerghatta Road, Electronic City and Marathahalli are providing one bedroom apartments. These residences are nice from investment point of view as well.
According to sources, there had been 106 new launches of 1BHK house type in Bangalore last year i.e. 2013. Whereas in 2014, during the last seven months there have been some 45 new projects launched with 1BHK configurations, with around 20,000 units.
The area for studio apartment varies from 600 to 800 sq. ft. while the prices range between Rs 10 lakh to Rs 20 lakh, depending on the location and the level of amenities available. From the rental perspective, the monthly value ranges between Rs 6,500 to Rs 20,000, with an average of Rs 15,000 per month
Developers like Rustomjee Group, Marathon Realty Hubtown and several other developers are planning to launch apartments under this category. The profit margin from one bedroom apartments are very less but as the demand for such housing in India is high, developers are launching more projects under this segment.
The average buyers of such apartments in Bangalore are newly wedded couples, single professionals or double income families. Moreover, in this busy lifestyle, people find that small houses can be maintained easily.
With the uncertain job market and the increasing property prices, citizens are opting for one bedroom apartments to maintain the budget. Compared to bigger apartments, smaller homes come under affordable price range.
One bedroom apartments are on high demand in India. Earlier people were of the mentality that one bedroom apartments are only for lower income group, which is no longer true. The category of buyers for 1 BHK apartments has changed with times. But no idea about the demand in Bangalore.