With the inset of the IT industry and a constant increase in the number of young working professionals in the metros, the demand for studio apartments in all the major Indian cities has been increasing for some time now. The Kolkata apartment market has been no different as well. Though the demand for studio apartments in Kolkata cannot be compared with that of Delhi NCR or Mumbai yet, there has been a steadily increasing demand of this particular form of apartments in Kolkata over the last few years.
Studio apartments in Kolkata generally range from 500 – 1,000 sq ft and comprise of a large room that includes the bedroom, living and dining spaces, along with a small kitchen and bathroom.
Real estate experts feel that the main reasons behind the growth in demand for studio apartments in Kolkata are rising number of young IT & service industry professionals with huge pay slips, coupled with heavy work load resulting in a hectic lifestyle. Also, these forms of apartments in Kolkata are the ideal choice for those who do not prefer to buy larger units. For example, software professionals stationed in Kolkata, or even in other metros, prefer to buy an affordable, maintenance-friendly living space rather than paying high rent for larger flats. This changing trend has also caught the attention of developers of apartments in Kolkata and other cities like Delhi NCR, Mumbai, Bangalore, Chennai and Hyderabad and they are going all out to tap the potential. Many Kolkata apartment developers have even started converting the 1 BHK apartments into studio units with some of them available in fully or semi furnished configurations.
There are other factors as well that are responsible for the ever-growing demand for studio apartments in Kolkata. Firstly, a growing demand for second home at affordable price points is a major factor for the rising demand of studio apartments in Kolkata. Secondly, studio apartments are also preferred by single working individuals and newly married couples for immediate use in a new city. Thirdly, being the fastest moving products on the market, the ease to sell or rent out a studio apartment in Kolkata at a profit margin is far more than a larger unit. The fact that studio apartments do not require high maintenance cost and make for hassle free purchases and resale is always an added advantage.
Over the last couple of years, the only apartments in Kolkata that continued to see demand even when there was a slowdown in the real estate market were the studio apartments in Kolkata. So, that also makes studio units the most reliable investment option among Kolkata apartments to all potential investors. And with the future calling for more and more service based industries and IT industries in the city, the demand for studio apartments in Kolkata promises to go only one way – up.