Studio apartments are small but considered as suitable for posh living. As they are available at cheaper rentals, now there is a steady rise in the demand for studio apartments.
Can you imagine living in a small home, as small as 350 sq. ft.? Now the increasing demands for studio apartments show that the people can think of living in such small homes.
Studio apartments face a good response from the tier II cities. Though these apartments are small in size, it does provide superior living. One of the most attractive features of studio apartments is that they do not have any wall at all. No wall separates kitchen from bedroom, or kitchen from living room. Only bathroom is separated by a wall.
Lower maintenance charge is another thing which attracts the takers to such small posh apartments. As they are small in sizes it is easier also for maintaining. There is no doubt that without much expense, these can be well-maintained.
According to the cities and localities prices vary. Amenities and facilities of the project too play its role in determining the prices. While the apartment with better facilities and connectivity enjoys better price appreciation, the other properties which do not enjoy any good amenities do not enjoy a good value appreciation.
For example compare the prices of Lucknow and Mohali. Both would be different. While Mohali enjoys better value, Lucknow does not enjoy as high value as that of Mohali.
Jones Lang LaSalle India’s Nitish Bhasin too acknowledges the increasing demand for studio apartments.
Though majority of the demand is raised by the working professionals, the number of senior citizens who demand for such apartments is not fewer. They too demand for such apartments.
DLF’s recently launched ‘My Pad’ is a studio apartment project, The project is launched at Gomti Nagar in Lucknow and contains 600 studio apartments. Mohit Gujral, DLF’s MD, states that this project is an attempt to provide sufficient homes to the working professionals.