Friday, April 19, 2013

2Bhk Apartment in NCR

When we talk about the 1980s, living standard has been changed of the Indian middle class when a small car named by Maruti entered in the market. Before that people used to live in extensive homes with open courtyards, embedded in abundant lanes. The concept of gated communities with 24X7 securities was created when the need for protection of car ascended.Families scooted to obtain the standard two bedroom-hall-kitchen (universally known as 2BHK), at first acceptance in the whole family, and later atomic families with small kids where a third bedroom was not a requisite.

Currently, the demand for 2BHK residential units beats demand for all other housing conformations in maximum cities. Take for example Delhi. As per data from PropIndex, Magicbricks.com’s quarterly index, in the past four quarters, the maximum demand was observed for 2BHK residential apartments and supply pleased this demand. Barring Gurgaon, where inclination slanted towards 3BHK, and most pockets in the city plus growth corridors such as Noida Expressway, Dwarka Expressway, Noida Extension and Ghaziabad saw the 2BHK attract maximum buyer demand.

North Delhi rules the branch when it comes to demand for 2BHK units, exclusively areas such as Pitampura and Rohini. In the Apr-Jun 2012 quarter, 45 per cent demand was registered for 2BHK leading to a deficit in supply. A 2BHK apartment guarantees a good return on investment. These apartments are short on maintenance, yet bring in a good appreciation rate.

Average property price per sq. ft. of a 2 BHK Apartment in Faridabad is Rs. 3800.The average price of a 2BHK in the size bracket of 1,000 sq. ft. in Dwarka would be about Rs. 8,000-10,000 per sq. ft. In MayurVihar, it would cost somewhere between Rs. 10,000-13,000 per sq. ft; Rs 5,000-6000 per sq.ft. in Indirapuram and Rs 4,500 per sq. ft. onwards in Noida Expressway. In Pitampura and Rohini, the values start at Rs. 12,000 per sq. ft.forwards.

Presently, maximum developers claim 55-60 per cent of their current lists is 2BHK units. This strengthens the fact that the pot of gold lies at the lowest of the pyramid!

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