3bhk apartments in lucknow

Increasing demand for 3 BHK apartments

The real estate market in India is going through an interesting phase. While on one hand, the reducing home loan interest rates and stable prices are attracting new home seekers, the current home owners are looking to upgrade on the other. The mid income segment housing space is heating up and the data suggests that there is a fast increasing trend in enquiries.

The data for different towns and projects in India shows, that over the years 2 BHK homes were most preferred by new buyers everywhere. This also resulted in a skewed planning by developers, which favoured a higher percentage of homes to be constructed as 2 BHK and very few as 3 BHKs. However, with improving income levels and increasing lifestyle demands, a certain shift towards 3 BHK apartments is being observed. These 3 BHKs are also offered in some cases as 2BHK+study configuration, making these more affordable, while providing that extra room that can be used as needed.

If we look at the evolution of this demand, we can find a few strands of it in the way the society is growing. As the nuclear families have become more common and a typical family has 4 members, including 2 kids, the requirements of 3 rooms beyond the living room is a basic requirement for a typical middle class family in cities. It is no more an acceptable trend to accommodate guests in the main bed room or in some temporary sleeping area. The kids rooms are also designed in a way that they can’t be used for guests, therefore the need for a third bedroom is felt by most mid-income families.

Another reason, why this trend for 3 BHKs is increasing is the affordability. The incomes have increased, while the prices have not moved up for homes over last 3-4 years. With interests on home loans at the lowest ever levels, suddenly the same EMI can help buy a bigger apartment. There are instances across India, where a builder has also helped the existing buyers waiting for possession, upgraded to a larger unit without changing the financial impact to the customer, using a decrease in interest cost of nearly 2-2.5%, to cover for the additional unit cost. That has also been welcomed by buyers.

A huge jump in 3 BHK homes in non-metro towns, like Lucknow is also observed due to the offered price point. A 3 BHK home in Lucknow can be bought for 60-80 lac, a sweet price point for most families. The other reason which has apparently pushed more people towards a larger unit is the impact of work from home employees. With pandemic starting a new preference both for employees and employers, where work from home is quite acceptable, the need for larger homes is felt more than ever. The extra room which can be used as a temporary office setup, can also be used as a guest room, when needed.

Paarth Infrabuild offers beautiful and well-designed 3 BHK homes in different projects in Lucknow at prices which are attractive for md-income families.    

Why are People Buying Apartments

There is a clear trend shown by data that more and more people are moving into apartments than an independent house. But why is it so? And is it good for families?

There are many reasons that apartments are getting  popular. The idea of a more community style of living can appeal to people who have small families, or to those who like to make friends and want to have interactions with others. There are more nuclear families now and therefore the need to connect with neighbours is higher. If someone has friends or family who live in an apartments in lucknow complex and enjoy there it could also lead them toward the idea that they want to choose an apartment to live rather than a house.

Apartment in lucknow,Buy apartment in lucknow

Another reason that apartment buildings are becoming even more popular today is due to the idea that not everyone wants to have a house where they have to worry about maintenance. In an apartment complex, maintenance and cleaning needs are limited to the inside of the apartment. That makes it easier for people who may not be able to care for the exteriors easily. Another factor which plays an important role in people choosing apartments is locational advantage. Most of the prime areas have been allocated for high rise apartments as per the master plans of various cities, and therefore, an independent house will typically be far off from the city center. Now with a much smaller budget, one could afford an apartment close to the lace of employment. It would be possible to get an independent house only much far off with the same money.

In earlier days, the biggest disadvantage for apartment in lucknow was considered to be the considerably smaller size than houses. But this is not the case any more. Modern apartments are well designed and offer much better living spaces despite a smaller size. With the modern furniture and advanced fittings and lighting, even smaller spaces can be converted into multi utility areas and made to appear much larger. With this taken care of, a major psychological reason which resulted in people choosing an independent house over an apartment is gone.

Safety and security is another vital reason for people preferring apartments. It is one’s job to ensure all around security for an independent house but with strong peripheral security arrangements managed by association, it is not imperative upon an individual to create any special security arrangements for his housing unit. This also create safe zones for kids to play and secure areas for parking. Well designed designated parking places also ensure no fights between neighbours on the subject. This makes life peaceful and convenient for executives.

In general, it is found that the amenities provided in an apartment complex are much better than available in a locality with independent houses. A much higher concentration of population makes investments in such state of the art facilities sustainable in housing society than standalone houses. In fact, the quality of life certainly improves as one moves into a housing society when compared to an independent house. There is no doubt then that people will keep buying more apartments instead of independent homes in years to come.