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Demand For One-bedroom Dwellings Soaring
Posted by Pradeep Sadanapalli | August 10, 2008 | 382 views
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Loading ...Youngsters in the city are heading for one bed-roomed condominiums of late. Owing to budgetary constraints, they are increasingly seeking one-bedroom accommodation that is a more viable option than staying in a two-bedroom condo or hostel or as a paying guest (PG). As a result, smaller real estate dealers in the city are slowly waking up to realise the worth of one-bedroom dwellings.
“It is mostly the software professionals, call centre employees, banking professionals or students who prefer one-bedroom accommodation,” says Sriraj, a rental consultant. The accommodation that can house two or three persons usually comprises a bedroom, living hall and a tiny kitchen with an attached bathroom.
“There is no quality life in a PG or a hostel for the amount they charge,” laments Aditya Dev, an animation student. During his two-month stay at a hostel in Begumpet, he and two of his roommates were packed in a small cubicle room for which they paid Rs.2,200 per head.
The per head cost in the case of a paying guest accommodation (that includes food and accommodation) works out between Rs.3,500 and 4,000.
Two or three-bedroom flats are no longer in vogue thanks to the cost factor that is burning a hole in one’s pockets.
According to rental consultant Satyanarayana there has been a sharp spike in rental rates for two or three-bedroom condominiums.
While two-bedroom flats come for around Rs.15,000 per month, the rent for one bedroom accommodations are in an economical range of Rs.3,500 to 8,000 depending on their location and furnishings.
Group living hassle
Because of the prohibitive rent of two or three-bedroom flats, more number of people stay together to bear the rental burden.
Not only is their stay uncomfortable with one requiring to adjust but also is inconvenient when it comes to sharing of resources like bathrooms, kitchen utensils, plug points for laptops etc.
“There is also lack of privacy,” points out Naveen Katta, a data warehouse developer. “Misunderstandings are also common when so many people stay together,” adds his friend M. Sagar. The chances of a fall-out are lesser in case of single bedroom dwellings as friends with good understanding stay together, says Mantri Santosh, a software engineer.
Besides, claims Mr. Santosh, most flat owners prefer renting out their properties only to families. “Even when they rent out for bachelors, they disallow more than four persons to stay, which tightens their monthly expenditure,” he says.
Flat owners maintain that they prefer families owing to the maintenance factor, which bachelors are usually not good at. One-roomed dwellings, on the other hand, ensure privacy and save the hassles of having to fill up drum loads of water.
“The rent is reasonable and the problem of bathroom-sharing is considerably lessened,” says James Robert, a student. Single bedroom housing has twin advantages. The owner also doesn’t lose out on money earned from a rental and at the same time, is a cheaper alternative to the pricey multi-bedroom condominiums.
The demand for one-bedroom dwellings is soaring in areas surrounding Hi-Tec City and Kukatpally.
SOURCES:
Hindu
Topics: Property Matters, Latest Trends |
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