1BHK, popularly known as one bedroom-home-kitchen has always been in demand in Mumbai. This is the most preferred housing unit that many buyers prefer to buy.
The smaller 1BHK unit is win-win situation for the property developers and home buyers. The prices are lesser compared to the 2BHKs and 3BHKs, even though the price range depends on the area you select. A 1BHK in a high-rise building in Bandra may cost Rs.3crore. Whereas, Andheri and Wadala will be priced at Rs.1crore. Borivali, Kandivali and Gorgaon further dips down to 70lakhs. And if your budget is less then, Bhayander, Mira Road and Virar will cost 25lakhs. The areas that cover the 20lakh bracket are Kalyan, Bhandup and Vikhroli.
The demand for 1BHK is rising because of the joint families that are now becoming nuclear. Young couples or a family with a kid are the target audiences for 1BHK flats in Mumbai. Plus, there are many new projects that are coming up in the city that also focus on these buyers. They incorporate few units of 1BHK or 1.5BHK to attract them to invest in the properties. There are many renowned builders that are bringing affordable houses in Navi Mumbai as well.
The young buyers have limited budget so they have to restrict themselves to live in 1BHK flat. The areas typically range between 600 and 640sqft and priced between Rs1500 and Rs3000 per sqft. There is a shortage of supply compared to the demand.
The demand for 1BHK homes won’t reduce as the buyers who purchase belong to the middle income group and can afford only a single bedroom. Moreover, a single bedroom is perfect for a family of two or three.
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