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Indian Real Estate News : Others
Studio apartments a hit amongst young buyers
Source: The Times of India Mar 23, 2014
With young professionals showcasing their interest towards investing in real estate,  developers across India are giving it a serious thought to deliver projects in their budget.  Studio apartments or small multi-storey units top the list that targets the young segment across India.

In conversation with Neha Nagpal from Magicbricks Bureau,  Sushant Muttreja,  MD,  Cosmic Group talks about how small-sized units are gaining momentum.  What makes studio apartments are attractive.  "The rise in the number of studio apartments is due to various factors such as size,  easy to maintain and affordability.  They come under budget for many,  from a young professional to anyone who wants to invest to earn good returns from it," says Muttreja.

Apart from this,  the migratory population travelling towards metros due to job in MNCs are more comfortable staying in studio because either they live alone with their families back home or are quite young.  "In both the cases the preference will be for studio or service apartments as it is smaller in size so the investment is less but still has all the amenities and facilities," he says.

Another reason is that there are a lot of companies investing in studio apartments as an accommodation for their employees.  Moreover,  Service apartments and studio apartments are two different categories so its not a necessity that all studio apartments will be serviced but both these are very good investments in order yield good returns,  Muttreja informs.

The demand and supply situation in Noida

"The demand has been growing and we expect it to double in coming few years with more and more corporate shifting towards Noida.  Supply isn't that much but with growing demand we expect the supply to increase as well," says Muttreja.

So who is buying? Muttreja informs that from an investor to an end user,  everyone is quite interested.  The profile is normally of a young professional to a person working and staying alone to corporates investing for their employees.

Will Muttreja advice that to invest in studio apartment than regular ones for return on investment? If one is looking for good returns then investing in studio apartments is always better.  It depends on individual choice because for a single person or just a couple staying,  it is a good proposition but for a larger family the size might become an issue.  But as of returns studio apartments are very good investments.

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