One of the most dynamic sectors in the world, real estate has seen rapid growth post-pandemic. However, investing in real estate isn’t easy - it requires a thorough plan of action, including a budget, location, loan eligibility, rental rates, resale value, and several other additional costs. Considering subjective affordability, size, layout, utility, and price, developers today offer different types of residential properties. Let’s have a look at some of the types of residential real estate.
The middle-class forms one of the essential buyer population for top real estate developers, making the latter build quality infrastructure at the correct pricing, given the price-sensitive nature of India, no matter the metros like Mumbai, Delhi, and Bengaluru or tier 2,3 cities. Thus the demand for BHK flats, RK, and studio apartments remains the highest.
These real estate structures come with their pros and cons. However, before we begin the differentiation process, let's understand the factors involved in making this costly proposition.
A popular choice for living, especially among families, the term BHK stands for Bedroom, Hall, and Kitchen. These could range from 1,2,3, and so on. The numerical value refers to the no of rooms in the house. In major cities like Mumbai, BHK flats remain the most common, with the average price per sq. ft being an estimated ₹11,500+ before 2023 kicked off. Listed below are some of the pros and cons of BHK flats
Pros
Cons
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In simple terms, RK stands for One Room Kitchen flat, with the average price per sq. ft for a city like Mumbai being in the estimated range of ₹1,000 - ₹41,000. These flats are ideal for single working individuals on a budget or a bachelor. Let’s look at some of the pros and cons of living in an RK.
Pros
Cons
Though a relatively new concept of living in India, it has seen a significant rise in demand for a city like Mumbai. A studio apartment comprises a single room and an open floor plan, with a living space, bed space, bathing space, and kitchen. Studios may also have walls for demarcation, offering privacy. Here are the pros and cons of living in a studio.
Pros
Cons
BHK Flats |
RK |
Studio |
---|---|---|
The price rates keep increasing as we go further up 1,2,3 BHK, and so on. |
Most affordable option compared to BHK flats and studios. |
Affordability falls between BHK flats and RK. |
Perfect for families. |
Ideal for single occupants. |
Perfect for working individuals and bachelors. |
No space constraint. |
Limited availability of space, no demarcation or walls. |
Convenient for single occupants looking for a comfortable lifestyle. |
High availability |
Low availability |
Growing availability |
The points listed above are great thought-starters to make an informed decision for your dream real estate property. Happy house hunting!
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In the real estate dynamic, picking between a 2 BHK and a 3 BHK home is similar to organising an ensemble of ventures. Every choice presents its own unique advantages and disadvantages thereby making the choice between them a confusing task. To make your task easier, we have curated this detailed blog to help you choose between 2 BHK to 3 BHK as per your requirements. So, without further ado, let’s dive straight into the blog.
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Kicking off 2024 on a high, Mumbai’s real estate market is set to experience a reported 5% increase in its residential sector. Nevertheless, Premium properties continue to be a huge draw among homebuyers, courtesy of an increased standard of living among Mumbaikars. Flats in the commercial capital come in all shapes and sizes, from studios to affluent penthouses.