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Among the cities surveyed by Anarock Property Consultants, 10% of homebuyers in Pune have given preference to 1BHK. Residents in Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata and Ahmedabad opting for 1BHK are in the range of 4-9%. The exception is Mumbai Metropolitan Region (18%) where real estate prices are exorbitantly high. The survey was conducted in 14 cities with 8,320 respondents, aged between 23 and 77, within an income bracket in the range of Rs 10 lakh a year to over Rs 35 lakh.
Pune: Homebuyers in Pune have a slightly higher affinity for 1BHK apartments compared to other top cities.
The data shows preference for 2 and 3BHK homes in Pune was higher compared to 1BHK, at 40% and 47% respectively, as per Anarock. “Over the past five years, more than 45% of units sold in key urban centres have been 3BHK units. Amey Chavan (35), a finance professional, said, “Most of the reputed residential projects are in the 2- or 3BHK segment, so the homebuyers are constrained to opt for 2BHK homes. 3BHK homes are priced well above Rs 1 crore and attract higher maintenance costs and property tax without the utility. These areas function as safe bands for first-time buyers as homes are priced at around Rs 65 lakh, as per the Square Yards report.
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“For first-time buyers, 1BHK offers a relatively accessible entry into home ownership with a manageable EMI,” Manish Jain, president of Pune Credai, said. However, even with this upward aspiration, affordability remains the central determinant of buying decisions,” Tanuj Shori, Founder & CEO, Square Yards, said. Snehal Singh, a Kharadi resident, said, “1BHK is adequate for a family of two but 2BHK have utility in case members are working from home.
“The IT and education ecosystem attracts young professionals to the city, which creates a market for compact homes. Companies allowing work from home meant people started looking for larger homes. There are few projects offering 1BHK homes. Entry-level affordability for homes is largely confined to Pimpri Chinchwad, Wagholi, Dhanori, Ambegaon and Undri. Download the TOI App.