With the rise in the rental values in the city, many Bangaloreans are actually purchasing studio apartments or 1 BHK units and I BHK units is ideal for the middle class section and especially for those who are looking for a compact, low on maintenance units for lucrative lifestyle.
Added by Prakash Ramakrishnan, a web designer, who settled for a 450 sq.ft studio apartment in Whitefield, “The vital advantage is that my monthly outgo for the house will be equal to rent and besides this I will create an asset whose price will rise in the future.
The average price of a 1 BHK apartment is approximately Rs 3,000-4,000 per ft and it will include a bedroom, hall, a bathroom and a modular kitchen that is sufficient for anyone. There is a huge demand for smaller units, especially for expats and young singletons, who actually prefer buying a smaller property rather than going for the big ones. And that is the reason why so many renowned builders are going up with studio apartments that fulfill all the needs and at the same time they are modern and comfortable.
“And Studio apartments are also in demand as the investment for them is less and the buyer need to pay an annual rental return of 9-12 percent after 2-3 years. So it is a good option where investment is less and return is good,” added by Rajesh Goyal MD, RG group.
