Budget apartment bring affordability and easy repayment of home loans. Budget apartment projects are in the price range of 25-30 lakhs and some projects are in range of 8-10 lakhs or less. There is rise in demand for budget apartment and this has become good choice for end-users and investors.
Localities around Whitefield, HRBR Layout, Lingarajapuram, Sahakarnagar, Hennur Road, Hegde Nagar, K R Puram, and Hosur Road are witnessing the rise of budget apartment projects. Some projects in the range of Rs 8-10 lakhs also, with an area of 500-700 sqft are coming up on Bannerghatta Road, Hosur Road, Sarjapur Road, and Whitefield.Lack of space in the city and high land cost has led developers to come up with such options in localities away from the city.
For an end user, budget apartment offers affordability and easy repayment of home loans. A home loan ranging 25-30 lakhs are easily available and a joint loan will reduce burden of monthly EMI. This enables end user to repay loan easily.
A budget apartment is good choice when considering to resale after two or three years. If investor doesn’t have adequate cash flows, he can buy a lower level and this can work as a hedge against inflation.
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