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One Bedroom Apartment Back in Mumbai Realty Market

One Bedroom Apartment in Mumbai

One Bedroom Apartment in Mumbai

Day by day, increasing number of newly married couples in India. Job Market in Mumbai is bleak, that’s why, large number of people thinking of buying one bedroom apartment in Mumbai. 2-3 BHK is no longer affordable for middle-income group.

In the past couple of years due to good increments and job security, interests of home buyers were reduced in one bedroom apartment. These days, home buyers do not want more loans for large apartment now. Particularly on current interest rate.

In past days, property developers in Mumbai, stayed away from the one-bedroom apartments due to lower margins. However, after changing the mind of property buyers, developers are preparing to take advantage from this segment and they offer large number of 1 bedroom flats in different locations of Mumbai.

Rustomjee Group, Marathon Realty, Hubtown Mumbai, Nahar Group, NRDL and Kanakia Spaces are one of the big examples that offered one bedroom apartments in different locations of Mumbai.

Budget, plays a significant role in the decision to buy a home. Property rates in Mumbai, increasing day by day and buyers don’t have enough money to buy 2-3 bedroom apartments in Mumbai. Developers are also facing shortage of money to build the project that’s why Small apartments are selling fast in Mumbai Real Estate Market.

From the long time, developers were focus on at least two-bedroom apartments. They’d get a higher margin. Now they are focusing on lower-margin units as well. Lower margins in this segment. However, many builders are beginning to emerge due to good sales. Property Experts says, If the project and the location is good, the One bedroom apartment does not take long time to sell.

In addition to Chennai, Hyderabad and Bangalore, the small apartments trend rapidly growing in Mumbai also. Young professionals and nuclear family mostly demand for such type of small apartments in Mumbai. Maybe after sometime they upgrade to a larger apartment. But initially they need one bedroom flat that can easily manage.

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