If you are looking for a studio apartment in Bangalore, there are some things you should be aware of and also looking for.
The first thing is that to know exactly what a studio apartment in Bangalore offers. Studio apartments are actually just a large room which has a small kitchen and an attached bathroom. You can furnish this multipurpose room any way you want. You can have just a foldable bed, some chairs and a table. What is on offer varies according to the builder and the location of the apartment.
The main benefit of living in a studio apartment in Bangalore is that you can live close to your work place. Realtors say that most of the studio apartments in Bangalore are located in close proximity to where Information Technology (IT) and its enabled services (ITeS) have set up shop. You will also find the studio apartments close to Special Economic Zones (SEZ).
Studio apartments in Bangalore are the preferred choice for DINKS (double income no kids) couples or single working professionals. This category of home buyer is one which has a low tolerance for inefficiency and a high preference for luxury.
So either renting or buying a studio apartment in Bangalore which is close to work would be just right for this category of people. This type of home buyers is willing to spend the extra rupee if it would make their lives hassle free. Studio apartments are often the first home option for a lot of professionals.
Studio apartments are available in the price range between INR 35 lakh and INR 75 lakh depending on the location and the amenities that are provided. Many of the studio apartments are located in new areas such as Hosa Road and Changapur as well as on Bannerghatta Road, Electronic City, Whitefield and Sarjapur.
On the other end of the spectrum and equally in demand are the villas in Bangalore. Home buyers in Bangalore are now opting to buy villas, realtors said. In 2013, builders have launched as many as 13 villa projects in Bangalore. The main reasons for the increase in demand for villas in Bangalore are the higher purchasing power, a large independent house as a status symbol and the ability to make a life style change.
Since the real estate market has been dull and there was a slowing down of the economy, the absorption of the new villas which were launched did not keep pace.
According to reports, unsold villas and row houses are to be found on Jigani Anekal road, Gunjur, Yelahanka, Sarjapur road, Nandi hills, Marathahalli, Bellary road, Sarjapur and Whitefield.
However, builders are getting a number of enquiries for villas. The demand is mainly in the North of Bangalore which is closer to the airport.
Social infrastructure also plays a major role in the selection of a location where a home is bought. This is where North Bangalore scores over other newly developed areas as a number of social infrastructure projects are planned here, in addition to the Hardware Park, the IT Park, Aerospace Park and the Financial City. The elevated expressway to the airport has also played a part in this.
In areas such as Whitefield, developers are offering luxury villas that are priced over INR 7 crore and are getting a positive response.
Buyers of these villas are locals, with some Non Resident Indian (NRI) component to it. Most of the buyers of villas in Bangalore are High Net Worth Individuals (HNWIs) who are top corporate honchos.
The villas in Bangalore come with a variety of amenities all exhorting the home buyer to live life king size. For example, a project by Equinox offers a private bar, a home automation system and a 20 ft long swimming pool. Another project by Divyasree offers a golf driving range and private lifts among other things.
Image: ”400SGreenLoft” by Jennifer D. Ames – Own work. Licensed under Creative Commons Attribution-Share Alike 3.0 via Wikimedia Commons – http://commons.wikimedia.org/wiki/File:400SGreenLoft.jpg#mediaviewer/File:400SGreenLoft.jpg
Nina Varghese for IndiaProperty.com