A majority of studio apartments and one BHK residential flats deliver the best selling inflow in the real estate sales of major cities like Delhi, Mumbai, Bangalore and Kolkata. In the latest search in a leading property portal in Kolkata, it’s seen that people are keen on buying these compact residential items for two possible reasons- either they want to use it for rental purpose or they are focusing on the affordability. Coming to the affordability portion, studio apartments have a trend to be reasonably priced as their targeted buyers are of limited income group. During these last couple of months there has been a major escalation in the sale of 1 BHK and studio apartments; around 26% of the total property is priced within 15-25 lacs.
Investors demand for studio apartments and 1 BHK apartments is on fourth gear. As per the recent market survey of real estate aggregators square yards from January- June (H1) investors are collecting near about 37% of the entire sale in nine major cities in India. Investors consider these properties as investor friendly real estate items as these apartments are registration charges and stamp duty of these apartments are really low and have lower risk involvement. For example if you buy a flat worth 35 lacs you have to play around 2.8 lacs.
Many developers are offering attractive deals such as assured rentals are guaranteed returns with smaller units. This strategy also causes the increment of the sale. The budget section with home prices herding between 25-70 lacs incorporates nearly 50% of the total demand, nearly 27% out of which falls within the 40-70 lacs range; followed by 19% in the Rs 25-40 lacs. Nearly 18% of the demand falls in the Rs 70 lac to Rs 1 crore sectors and 13% of the total demand comes under the Rs 1-1.5 crore type. Most people who started working or newly married studio apartment have always been perfect on their purchasing demand. Usually young people prefer these apartments as they want to stay in an affordable apartment in the city area and sell when they move out for another job in some other city.
-By LNN (Liyans News Network)