Homebuyers are going in for smaller houses due to less budget
Neha Khandelwal aged 32 works for a financial services firm in Mumbai’s Lower Parel business district. She had booked a one bedroom, hall and kitchen home, one BHK flat that has been put on resale in the suburban Chandivali for a price of Rs 85 lakh.
Looking into the price of a brand new one BHK apartment which can be as much as Rs 1.3 crore or more than that in the neighbourhood of Powai and Vikhroli it would look like a very good deal. However, is Khandelwal really interested in buying the property? She stated that she had been waiting for nearly a year and half for buying a two-BHK flat because everyone stated that the market is down and the prices will fall. Her budget was Rs 80lakh, but she did not want to move to Thane or places which are far located.
Homebuyers like Khandelwal who wants a house of their own or a larger apartment go for smaller houses instead because of the property prices which have not dropped despite the rising demand for homes. Hence they settle in for what can be afforded in their budget.
Source: Mint
