In the last few years there has been a growth of 2BHK (2 bedroom, hall and kitchen) apartments in Indore. Lots of those factors contribute to the fact that the majority of people nowadays prefer keeping two-bedroom flats for both homeowners and investors. Let’s consider the factors that encouraged or caused this custom.
Affordability: First of all, the main reason for the rise in demand for 2 BHK flats is their cost-effectiveness. Due to the skyrocketing real estate prices in urban areas, middle classes, and young professionals who aren’t wealthy are often priced out of 3 BHK housing units and are forced instead to opt for more affordable 2 BHK options. Affordability is a key reason for such a 2 BHK flat being a preference for those who wish to own a home without making big financial commitments.
Nuclear Families: Besides, the second factor which makes the demand for 2 BHK flats grow every day in India is the increasing number of nuclear families. As more families go for small nuclear families, their need for many bedrooms becomes less expensive. The 2 BHK flat pillows perfect living space for a little family at an affordable cost and not expensive maintenance like a bigger home does.
Rental Income Potential: The high demand for 2BHK apartments can also be explained by the fact that they bring investment opportunities along. A lot of investors think about 2 BHK flats as a profitable investment because they are also convenient to rent out to families, workers, or students with such needs. The reason why 2 BHK flats are becoming more attractive to investors who are into passive incomes is because of their advantage in bringing in consistent rental income.
Urbanization and Infrastructure Development: India’s urbanization process has stimulated the establishment of many job opportunities in urban venues. Therefore, getting young professionals and migrant workers in cities every day to pursue their studies and find job opportunities has increased the demand for smaller and cheaper accommodations. The 2 BHK configuration is administered just appropriately enough to create the housing needs of this population group, thereby, fuelling such demands
Amenities and Utility: 2 BHK models normally give a combination of the availability of space and convenience, thus the reason it is a top selection among buyers. They designate the living room, kitchen, and two bedrooms for the family of the little family considering the archetypal necessities of a home. Furthermore, lots of present 2 BHK flats were constructed with small but smart and effective layouts as well as fully maximised space which can be done smoothly and efficiently.
Government Policies and Incentives: Such strategies by the government like Pradhan Mantri Awas Yojana and making housing schemes pocket-friendly have primarily been the real impetus of rising demand for 2 BHK apartments. Single-family homes have become more accessible thanks to grants and tax benefits for builders, which received support by the government, with special consideration being given to the affordable housing segment.
Cultural and Lifestyle Shifts: Changes in lifestyles and persistence to cultural norms are telling factors of shifting to the 2BHK flats demand. A great number of urban dwellers especially the millennials and young couples, opt to become renters than buy in order to access the convenience of location and urban amenities. This change in the way people think has raised the need for 2 BHK flats that are convenient and or as necessary as single-bedroom flats.
In summary, a rise in the demand for 2 BHK flats in India can be followed by a convergence of factors one of which could be affordability and changing demographics. 2BHK could also be a good investment, urbanization and various government incentives are also determining factors. Reading the future of reality that changes continuously, the demand for 2 BHK for flats will never fall off. It is going to provide varied housing requirements to India’s urban inhabitants.