One BHK flats were once among the most in-demand homes and a standard module of an apartment. However, today, those small abodes are not preferred as much. Neither the builders nor the prospective buyers are hardly considering these flats.
As time progressed, the lifestyle of people changed. Developers at Modi Builders review that the cost factor and changing economics can be among the major reasons that signalled the impending end of 1BHK flats, especially in Hyderabad.
Even though these flats are still prevalent in metro cities like Mumbai and Delhi, they are obsolescent in Hyderabad, the city which is among the frontrunners in India’s residential realty market.
With time, the spending capacity of buyers has also increased. Owing to the new policies and amendments on the old ones, these days, banks and financial institutions are giving home loans at low interest rates. This has also surged the demands for more spacious homes – 2BHK/3BHK flats and in turn tolled the death knell for 1BHK flats in Hyderabad.
“Along with the budget, an additional factor most people look for these days while buying a home is the space,” says an industry expert at Modi Builders. Therefore, the demands for 2BHK/3BHK flats are soaring.
In accord to the rising demand, top builders in Hyderabad are now offering increasing number of 2BHK/3BHK flats spread over several acres of land. Apartments by Modi Builders like Sterling Heights, Elegance and Emerald Heights that come with all kinds of specifications are an epitome of affordably luxury homes.
Since buying homes is usually a one-time investment, everyone would want one that is spacious, of good construction quality and has all the essential amenities ensuring a more secure future and this is why 2BHK/3BHK apartments are increasingly replacing the small and cosy 1BHK flats.