September 19, 2018

Chennai

Changing tastes and preferences have led to a demand for studio apartments over the years in many parts of the city.

In the last decades, the demography of Chennai has changed drastically. There has been a steady inflow of population into the city from different parts of the country. Many of these new generation professionals are looking forward to buying their own home within the first few years of their first job. This has led to a demand for studio apartments, which comprise all the elements of a home in a single room.

Right from low cost to low maintenance, the advantages of a studio apartment are many and are preferred by bachelors and travelling executives alike. Ravi, a city based realty expert says that these studio apartments are also being used as service apartments by the corporates. "Primarily, it catered to the needs of travelling executives posted in different cities. The professionals who have offsite assignments always tend to invest in studio apartments if they are offered by the developers, which gives them flexibility to travel during a shortterm assignment."

Often termed as one room-kitchen apartment, these apartments have an attached bathroom and have an area range of 200 to 450 sqft. A studio apartment, also known as a studio flat or self-contained apartment, efficiency apartment or bachelor apartment, is a small apartment which combines living room, bedroom, and kitchenette into a single room. It is apt for a small family area ranging around 200 to maximum up to 450 square feet. Studio apartments are the entry level in the housing spectrum and are priced between '25 to '30 lakh.

Prices do play an important role; if the pricing is high then the buyer would opt for a compact two-BHK apartment instead of a studio apartment. Chennai being a conservative market, the design is slightly tweaked to accommodate a separate bedroom.

Arun Nair, a marketing representative, who moved into a studio apartment two years back maintains that price was the deciding factor. He says, "The cost played a key role and getting the best deal in the heart of the city is tough. I wanted a studio apartment as it provides you a compact space which is easy to maintain and clean. Also, studio apartments are always a good option for bachelors because of the low maintenance and cost factor."

The demand for studio apartments is big among business executives. Ravi adds, "The demand for studio apartments has been growing consistently over the last few years and this demand is here to stay. With large companies setting up their units in Chennai and emergence of IT-space, we are looking at serious numbers required in the coming years."

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