Demand and enquires for small or affordable home is increasing in last two or three months. In the coming month, sale of property will increase since people who postponed purchase in October due to recession and instability in market are firming up their mind.
Developers and most companies as reported increase in sale of property by 60 per cent in second quarter. In the recently concluded CREDAI Realty expo besides large number of enquiries in new projects 36 housing units were sold on the spot.
Single bedroom apartment or small homes were exception in past. Developers or builders are looking this segment as feasible opportunity to offer affordable home. Several projects are being modified to fit in 1 BHKs.
The recession has also bring down the cost in the affordable home segment, range from Rs. 15 lakh to Rs. 25 lakh in well-developed areas. As the demand for space increases along with the need for affordable houses, 1 BHK apartments and small homes will become a norm in the future.
Before the recession set in, 1 BHKs were confined mostly to projects developed by Category C developers whereas even Category A developers are also pitching in into affordable home segment now. This is also the best time for customers to buy homes, as prices could go up again in near future.
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