What there is to know about studio apartment?
What exactly is a studio apartment, and how does it vary from other setups in terms of scale, price, benefits, and drawbacks?
Studio apartments have grown in popularity in India over the last two decades, studio apartments in Navi Mumbai especially in cities like Mumbai, where limited space prevents major residential projects. We investigate what studio apartments are and how they can help the country overcome its housing problems.
What is the layout of a studio apartment?
Studio apartments have a dining area, a sleeping area, a kitchen, and a bathroom. To build a demarcation, some studio apartments have partial walls. If there is a partition, for example, you can have some privacy if visitors come in.
Size of studio apartments
Studio apartments, also known as ‘efficiency apartments,’ operate under the concept of efficient space use. As a result, there would be few obstacles in the shape of walls and room demarcation. It usually has an expansive floor plan, although this can vary depending on the city or neighborhood. Since there seems to be no discernible difference between the two, a one-room and kitchen (1RK) house is often advertised as a studio apartment. The size of such apartments ranges from 250 to 700 square feet, depending on the developer’s brand, demand for the same, venue, and so on.
Price of studio apartment
Studio apartments are available in a variety of price ranges and are mostly found in suburbs since they are aimed at urban home buyers. Because of their affordability, 1RK configurations are frequently bought in upcoming areas. Such studio apartments in the city center or strategic locations will cost up to Rs 1 crore. The price of such apartments in future locations may reach Rs25L.
Who should think about renting a studio apartment?
Studio apartments are common with tenants as well as home buyers. It is ideal for single working adults or individuals who live alone. Due to a lack of finances, small families may be forced to settle for studio apartments. Many interested in rental returns should consider buying studio apartments. A studio apartment in a good location in cities like Mumbai, Delhi, or Bengaluru will yield good returns.
The distinction between 1BHK and studio apartments
The phrases 1BHK and studio apartment are also used interchangeably. However, there is a distinction between the two. 1BHK units have a bed, a kitchen, a hall area, and a bathroom, all of which are separate and well-defined. A studio apartment is essentially a single large room, and the person who occupies it must reserve space for everything inside this large room.
The Advantages of a Studio Apartment
While studio apartments are tiny, they have many advantages for both tenants and owners.
- Since studio apartments are small in size, they are ideally fit for single people.
- Lower utility prices as a result of lower oil demand.
- Cost-effective as opposed to other setups.
- Easy to care for.
The disadvantages in a studio apartment
Though studio apartments are popular, there are a few considerations to consider before purchasing one.
- Not suitable for larger families.
- Inadequate space; no simple demarcation.
- Needs more physical space.
- Inadequate anonymity if you have visitors visiting.
Rental returns for studio apartments
A studio apartment, as previously said, is a decent option for rental returns. A studio apartment is less expensive to purchase than a 1BHK or 2BHK unit. Rental returns, studio apartments in Navi Mumbai, on the other hand, are proportionate. Rent for a regular studio apartment in a tier-1 or tier-2 city will range between Rs 5,500 and Ra 15,000 per month. It is important to remember that the rent is affected by the location as well as market conditions. A studio apartment in Mumbai’s Bandra district will fetch even more. Smaller areas do not have a strong demand for such compact setups.
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