More demand for smaller apartments
A stagnant market and high interest rates on home loans is making developers to plan on small-sized residential projects, rather than luxurious projects.
Cash-strapped buyers in Ahmedabad seem to have renewed the market for one and two bedroom apartments.
Developers are focusing on smaller, well-designed apartments to cater to the rising demand, mostly from first home-buyers.
According to Mihir Desai, a builder who will launch his one and two bedroom project near Gota in July first week, the trend has caught up because the spending capacity of people has not increased as fast as the market since 2010.
The super built-up area of an average two-bedroom apartment is sized in the range of 950 square feet and 1,350 square feet while a one-bedroom apartment is available in the size range of 630 square feet to 850 square feet.
To read more real estate news:
Home loan enquiries up over 18 per cent: CIBIL
Source: Times of India
Ahmedabad, High interest rates on home loans, rising demand, small-sized residential projects, stagnant market
[...] More demand for smaller apartments [...]