Much before the government of Maharashtra announced the Housing for all scheme by 2020, the real estate industry of Mumbai witnessed an evolution of affordable housing projects. For making houses affordable and making it look attractive, many developers opted for box-pricing scheme mechanism. It is the foremost step that influenced the buyers to take their first step towards purchasing 1 BHK in Goregaon.
Some of the factors that increased the preference of 1 and 2 BHK in Goregaon and other suburban parts of Mumbai are as follows:
- Recalibration of Apartment Sizes
A sharp inclination in the size of the apartment is one of the major transformations in the real estate agency of Mumbai. The 1 BHK apartments having the initial carpet area of 400 – 500 sq.ft. were reduced to 175 sq.ft. into the carpet area of just 325 sq.ft. It was done to match the affordability of the buyers. The 2 Bhk for sale in Goregaon West and other parts of suburbs were almost reduced to half by 500 – 600 sq.ft from the initial 800 – 900 sq.ft. The 3 BHK apartments also downsized to 850. Sq.ft from the previous 1250-1500 sq.ft. This shrink the average room size of 18 x 12 sq.ft to 12x 10 sq.ft. the size of the restroom was also reduced to 5 x 4 sq. ft from 8 x 6 sq.ft. The size of the living room also came down from 20 x 15 sq.ft. to 15 x 11 sq.ft. The careful tailoring helped the developers to reduce the size of the apartment by almost one-third of the previous carpet sizes.
2. Good fit for Nuclear Families
The buyers from all walks of life started appreciating the design and the effective usage of the space provided in the newfound apartments of 1 BHK in Goregaon. In Mumbai, mostly there are nuclear families with working couples and children occupied at schools and day-care. Therefore, buyers find it logical to buy a house with a small size rather than paying rents that are equivalent to the EMI’s. Mumbai also witnesses a rise in many large families splitting into nuclear families. The increase in the growth of the nuclear family is giving a rise in the demand for affordable and small apartments.
3. Helped in making houses affordable
The Mumbai Metropolitan Region (MMR) developers operate on thin ice as the official premiums are high, almost the cost of one-third of the project. The introduction of the trimming of the apartment design by almost 50 – 75 sq.ft. was done to curb the ongoing demand along with achieving the ticket price that makes the residential apartments in Goregaon west affordable for first time home buyers. moreover, the sizes of the kitchens were trimmed, and the passage area curtailed to avoid the wastage of unutilised carpet area. The change in the architectural design enabled developers to launch a gated community with 1 BHK in Goregaon and other suburbs of Mumbai as well with low pricing.
4. Increase in Immigrants
Mumbai has been witnessing more and more immigrants settling from all over the world. With the massive surge in young graduates seeking various job opportunities in Mumbai, there is an increase in the lookout for affordable housing of 1 BHK in Goregaon. The box pricing concept has helped the developers to suit the demands of the consumers. With the ever-increasing price of other utilities, consumers are not left with enough saving to purchase lavish flats. Hence, the idea of small apartment units fits best in this criterion.
Conclusion
All the above factors have led to an increase in the demand for affordable 1 BHK in Goregaon. Chandak Group has built such affordable homes keeping in mind the basic needs of consumers today. To know more about their newfound projects contact them on www.chandakgroup.com
No comments:
Post a Comment