• Today is Saturday 17 Nov 2018
Sign in

By signing up, you agree to our

Terms of service

Privacy Policy||Cookie Policy

Lost your password?

By signing up, you agree to our

Terms of service

Privacy Policy||Cookie Policy

Feedback | Equityright Wealth Creator       

Social Connect:

A A A
Jul 03, 2018, 17:47
Mumbai apartments are too costly? Look for micro homes
img

Micro homes in Mumbai are as small as 180 sq ft. Mumbai, as a city, is in the developing stage to make the most of its scarce available space. Mostly young professionals and students who are looking for affordable options in prime areas of the city choose to live in micro homes.

 

Micro homes have proved to be the solution for lack of housing and congestion in countries like Japan and Hong Kong where the demand for homes is higher and space which comes at a premium. India took time to accept the concept, but now there is a growing trend that owning a micro home is better than not owning a home at all, even if the micro home is only the size of a larger master bedroom in a traditional Indian house.

 

It has been observed that micro homes are finding favor in Mumbai which is one of the costliest real estate markets in the country. Buyers which include students and younger professionals are purchasing micro homes sized approximately 180-250 sq. ft. on an average. This trend is attributed to the sheer absence of relatively affordable options in prime areas in Mumbai. Apartments with these sizes are finding takers rapidly in locations such as Kalyan, Vikhroli, and Ghatkopar amongst younger buyers who seek affordable properties which are located in close proximity to their workspaces. Micro homes are perceived as better options for people who would not be able to afford homes otherwise. Micro homes are being offered as bachelor’s rooms, studio apartments, and affordable luxury properties.

 

Some of the major projects in this segment include Mayfair Hillcrest and Chembur Central in Vikhroli, the Kalyan based Haware Paradise and Peninsula Land’s Address One at Gahunje on the Mumbai-Pune Expressway. Projects like Sheltrex Nano Housing in Karjat also come within this segment. Most of these micro homes come with amenities like a 24-hour security setup, , and more such facilities. Some projects have playgrounds and other sporting facilities too. Some have indoor game facilities, community halls, and educational institutions within township premises.

 

Some micro homes come with modular furniture for saving space as well. Real estate developers in Mumbai slowly realized the existence of a market for apartments sized at 200 sq. ft. or likewise when rehabilitated slum residents started renting out their new flats to professionals in the city. There are younger buyers who seek affordable options where they have a kitchen, bedroom and mini space of their own. These micro homes are often located in well-connected areas with good transport and connectivity options which help young professionals commute to work with ease.

 

Ways to earn Crypto Currencies

© Equityright 2018 | Powered By ESI