The Rising Popularity of Studio Apartments

While we are experiencing some of the highest population growth, property price growth, and amenity-led growth in the country, the demand for budget-friendly residential properties has also seen a surge. With these requirements, the studio apartment segment is becoming more popular among young professionals and companies alike.

Companies now prefer to accommodate young professionals in studio apartments instead of renting a guest house, serviced apartments, or hotels as it is an affordable option. Young professionals, especially in the bigger metros are also switching to studios majorly because of the affordability, rental factors, and convenience that these apartments can provide. If we talk about investors, it is a good investment prospect for them as well to earn a regular rental income and has good growth potential in the future.

The trend of studio apartments has been on a steep rise in metros also because the majority of migrants prefer staying at a location that is centrally located and well-connected to the rest of the city. Since the rents are fairly higher in the prime location as compared to other localities, studios are a preferential option. Studio apartments are also stylish and compact living spaces, offering a practical alternative for tenants to stay in the heart of a prime of the preferred city. All these factors have also played a pivotal role in making studio apartments successful in the metro cities, primarily in Delhi and Mumbai. Other cities including Kolkata, Bangalore, Hyderabad, and Indore are also gaining popularity as well.

Owing to this enhanced interest in studios, many reputed developers are preparing to construct and deliver apartments at affordable rates. The average cost of these apartments with size 400-600 sq. ft comes with a living room, bedroom and dining room and an attached bathroom are available between a budget of INR 10-20 lakh in most of the cities. Hence, a bachelor or a young couple finds these studios convenient and affordable to stay in. In addition, young professionals are also looking for investment opportunities in the real estate segment, which has good growth potential in the future.