Hyderabad: In a piquant development in Hyderabad real estate sector, there is virtually no demand for 3BHK flats. Mainly, customers are not coming forward to buy them eve in middle-range apartments. The reasons are not far to seek. During the past year or two, the builder have hiked the per square feet price of apartments by at least Rs 1000 to Rs 2000. So far, the cost of a 3BHK apartment went up to Rs 1 crore from Rs 60-70 lakhs. So there is a change in the taste of the consumers. Instead of buying a flat on the city outskirts at a cost of Rs 1 crore, the buyers prefer to purchase a flat in a gated community very close to the city.
Therefore, buyers with this type of mind set want to buy stand alone apartments instead of buying a 3BHK flat in a middle range apartment complex. This has led to slump in the demand for 3BHK flats in the city. At the same time, the demand for 3BHK flats in gated communities has increased. For example, Prestige High Fields project. In the project, only 2BHK and 4 BHK flats are available for sale but not 3BHK flats.
This stands as an example for the thinking pattern of the buyers. It is always advisable to design the apartments accordingly. A 2BHK flats project is going to be executed at Narsingi near Kokapet, according to reliable information reaching here. A construction company has prepared plans to build the project very close to a service road close to the ORR. In fact, no construction company has conceived 2BHK projects at Kokapet, Narsingi and Gachchibowli and surrounding areas. Though there is demand for the same, no construction company has set its sights on these projects.
Because it is so easy to design flats with more plinth area and also to build them. But building 2BHK flats is not so easy because project planning would be difficult. The builders have such opinion about 2BHK projects. Moreover, they have to deal with more buyers, which they feel is somewhat difficult. But, according to changing scenario several developers have been changing their plans. They are designing their projects to extend benefit to customers under Pradhan Mantri Awaas Yojna. This will help the middle classes to fulfil the dream of owning a roof over their head.
