Mumbai a city of dreams and attract various people across the country due to luxurious lifestyle and night life of the city. Property prices and rental prices of the property in Mumbai were always high and out of budget for a middle class family. But still people staying in the city dreamt of a dream house in the city whether a studio apartment only. A studio apartment is a residential property sized around 300-350 square feet of area which is affordable for most of the people working in the city. It is also termed as 1 bhk flat in Mumbai. Typically the structure of the apartment consists of a large room which is divided into smaller sections like Kitchen, bedroom with attached bathroom and a living room.
Need and advantage of buying a studio apartment in Mumbai
Various professionals are moving towards the city in the search of high paying jobs and urban lifestyle. Initially they move without families creating a demand of studio apartment in the city which is a sufficient for a corporate executive to stay comfortably in the city. These professionals prefer to buy studio apartments while taking bank loans rather than staying in rented houses which shell hefty rents out of their pockets. The loans are available in the form of EMI depending on your monthly income. These are considered to be cost effective alternative available in the Mumbai for those who can not invest huge money in real estate market.
Kochi is another city than Navi Mumbai where the requirements for studio apartments are increasing every passing day. This has led different portals on real estate Kochi to flood with massive requirements for the same.
Even families with decent number of family members are ready to stay in studio apartments instead of paying huge rents .This result in demand of studio apartments in the Mumbai real estate market .Developers and builders are entering into this segment and providing unique and luxurious studio apartments to the buyers.
Mumbai is the business capital of the country and witness maximum number of travelers around the year in comparison to other metro cities of the country. It is a hub for the production of thousands of Bollywood movies which increase the number of producers visiting the city regularly resulting in demand of studio apartment for short stay in the city. These apartments are preferred over Hotels if you are planning to stay for a longer time period in the city instead of a few days or weeks. These apartments are usually fully furnished to provide a comfortable stay during your visit to Mumbai.
So now if you have already planned to invest in an affordable flat in the Mumbai city –Navi Mumbai is a location for you which are offering affordable houses to the buyers planning to invest in the Mumbai city. It is located near Mumbai and offers great connectivity between Mumbai and Pune. It is a hub for numerous IT parks and SEZ of the area proving a residential hub for the working class of the Mumbai city.
Usually the residential project in the Navi Mumbai is in a range between Rs 4000 to 6500 per square feet, providing you an affordable house in the range of 40-50 lakhs in Mumbai city.
You can contact a local real estate agent or a broker to get on a list of flats available in Navi Mumbai. You need to define the broker about your requirements and range, so that the broker will show you options available in the market matching your requirements and affordability only. These brokers charge commission for their services, so are careful and negotiate also to fix fees you will be paying to the real estate agent for the services offered by him. Check in detailed about the property on the web before buying a particular one.