Studio Apartments: A Modern Lifestyle Choice

In congested Indian cities, especially in the metro areas where the price of living space is too expensive, the idea of studio flats is becoming more popular. Owning or renting a 1 or 2-bedroom home is quite costly in places like Mumbai. A studio flat is an economical choice for anyone searching for low-cost accommodation, including working professionals, individuals, and even couples. Due to rising demand and high rental revenues, more developers are now providing studio flats.

1. Concept and design for a studio unit

A studio apartment is essentially a medium-sized room without walls that contains all the utilities, including a bathroom, bed, living room, and kitchen. To create some seclusion, some developers offer partial wall constructions to define sections. A studio apartment is sometimes referred to as a 1 RK, but that isn't accurate; these apartments have a separate idea in terms of design, decor, and cost. A studio is one huge room that must either be constructed by the owner of the space or come pre-configured by the developer, whereas a one BHK home has appropriate delineation between the bedroom, hall, kitchen, and bathroom spaces.    

2. Dimension and cost

They are built on the effective use of existing space, with the least amount of walls and impediments to demarcate various spaces. Studio flats often feature an open floor design that varies depending on the city or region. These apartments come in a range of sizes between 250 and 700 square feet, depending on the developer, location, and demand.         

Such apartments come in a variety of pricing ranges that are aimed at urban purchasers seeking an affordable living place in cities. While the same size and design of a luxury studio apartment with commercial or well-developed amenities in central areas may cost up to 1 crore, it may only cost 25 lakhs in outlying locales.     

3. Advantages  

Despite its diminutive size and open floor plan without walls, having a studio apartment has several advantages.   

• quite inexpensive compared to other flat sizes
• Low upkeep is required.
• affordable compared to flats with higher configurations, making it simple to rent out.
• With effective space allocations, single users are best served.
• Being centrally located, it provides greater access to important city destinations. 
• lower energy expenses as a result of decreased energy use.

4. Rental revenue

Studio apartments always have significant rental revenue, and they do it for less money than 2 or 1-bedroom apartments. The location, city, facilities, name of the developer, and size of the studio apartment all affect the rental revenue. A typical studio flat in tier 1 or tier 2 city may provide between 6,000 and 15,000 in rental revenue. However, a big, well-furnished studio apartment in a prime location might command significantly more rent.  

Who should a person purchase a studio apartment?

Homebuyers and tenants, including single professionals, small families, or those living alone, are highly fond of this category. Such flats are chosen by investors who desire rental revenues as well. An urban studio flat in a major city like Bengaluru, Mumbai, or Delhi might yield higher profits.       

Before purchasing a studio apartment, experts advise doing the following checks:  

1. Examine the features and facilities

Always go over the features and facilities that the developer is providing along with the apartment, such as the furnishings, space allocations, appliance designs, etc. In such lodgings, natural light is crucial.

2. A living room.

Your comfort level and sense of well-being will be affected if your living area is too tiny.

3. Budget

The cost varies depending on factors like location, builder reputation, facilities provided, and design. So always conduct thorough research from a financial standpoint before purchasing a studio apartment.     

4. Local facilities

Always explore the project site to make sure that the essential infrastructure has been built nearby, including municipal infrastructure, supermarkets, shops, and convenience stores, in addition to any local employers or educational institutions and their connectivity.  

Thinking about purchasing a home?

With HomeCapital, take the first step towards house ownership and receive an in-principle sanction letter in under a minute.
Click here to begin.

Want to find a home for rent that perfectly suits your requirements? Check out what’s available on 9Brokers.com