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9/9/2019

Why Demand For 2 BHK Homes Is Increasing In Indian Metropolitan Cities?

The current trend shows that a 2 BHK home is a hit among home buyers across major Indian cities like Mumbai, Delhi/NCR, Bangalore, and others. The thinking pattern of the buyers who are going to start a family is also observed to be more inclined towards 2 BHK properties. Real estate market is booming in terms of supply and demand of 2 BHK properties, and the following are the substantial reasons observed behind this potentially long-term trend:

1. An ideal Indian family

What has been mainly observed is four to six members consist of an Indian family, and a 2 BHK home seems to be the closest fit to meet the requirements. A 2 BHK apartment is constructed with an inclusion of a hall, two bedrooms, two bathrooms and a kitchen. Hence, such specifications are sufficient where an Indian family can live comfortably.

2. Cost-effective and available in excess

The high demand for 2 BHK apartments encourages developers to build more and more such kind of properties. Thus, availability is never an issue. Another factor is its cost-effectiveness. No doubt that the 2 BHK homes are pocket-friendly buying option, the developers also target the mass population to sell them. Real estate market in Noida has several properties under the affordable housing segment with 2 BHK properties. The price of these 2 BHK Flats in Noida starts at ₹ 40 Lacs.

3. Keeping in mind the bigger future plans

A single person living and working in a city will invest in a 1 BHK flat. However, this investment pattern is slowly taking over by more extensive choices. People at present have become smarter in their decision-making, and they understand how investment in real estate will affect their future. With a full possibility that the family will grow in the coming years, they go with a 2 BHK option. Also, when compared the price between 1 BHK and 2 BHK, the difference isn't huge. Hence, the idea of living in a smaller place feels outdated.

4. Working-class and growth in income 

Consider the city of Gurgaon, for instance. It is home to more than 250 companies listed in the Fortune 500 companies. Lakhs of IT professionals or other kinds of the high income-earning population from small towns move to Gurgaon for better opportunities. For this segment of homebuyers, buying 2 BHK Flats in Gurgaon or biggers flats is the first preference because the budget is not an issue. Considering their impressive incomes and capabilities, reputed builders have smartly invested hugely in constructing apartments along with luxurious amenities. ATS Group, Godrej Properties, and Raheja Group are some of the prominent names, providing the luxurious 2 BHK Flats.

5. Highly preferred for renting and re-selling

Buying 2 BHK properties in a city like Noida or Gurgaon is guaranteed to give you a profitable Return on Investment (ROI). Since the demand is high for 2 BHK flats, you will have a sufficient number of buyers in case you wish to sell your property. In another case where you may not be living in your 2 BHK apartment, and it is vacant, earning by renting it will indeed be a beneficial decision.

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