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  Business   In Other News  23 Sep 2021  Demand for 3BHK, 4BHK goes up in metro cities

Demand for 3BHK, 4BHK goes up in metro cities

THE ASIAN AGE. | SANGEETHA G
Published : Sep 23, 2021, 8:07 am IST
Updated : Sep 23, 2021, 8:07 am IST

The preference for 3BHK apartments was 25 per cent in Q1 2020

Cities like Bengaluru, Chennai, Hyderabad as well as the Delhi NCR market are the prominent cities. (Photo: PTI/File)
 Cities like Bengaluru, Chennai, Hyderabad as well as the Delhi NCR market are the prominent cities. (Photo: PTI/File)

Chennai: The demand for three bed-room and four bed-room apartments have gone up in key metro cities during the pandemic even as the demand for smaller units have come down.

The preference for 3BHK apartments was 25 per cent in Q1 2020 and it has gradually moved up to 37 per cent in Q2 2021. Similarly, the preference for 4 BHK apartments have seen some upside from 4 per cent to 7 per cent during the period, finds a customer survey by JLL in association with RoofandFloor.

 

Meanwhile, fewer customers preferred 2BHK apartments—their share has fallen from 51 per cent to 39 per cent. Same is the case with 1BHK– from 20 per cent to 17 per cent.

Cities like Bengaluru, Chennai, Hyderabad as well as the Delhi NCR market are the prominent cities where the demand for 3BHK apartments has increased. This trend is more projected in Mumbai and Pune, where 1BHK and 2BHK are usually the most sought-after configurations.

Anarock Property Con-sultants says the pandemic also has seen a decline in the demand for studio apartments. Until recently, millennials were driving up the demand for studio apartments in the top 7 cities.

 

Presence of balconies and an additional small room for work are in focus now.

Lower density environments, access to open, green spaces and healthcare and the size of the apartment have moved up in importance.

Tags: property rates
Location: India, Tamil Nadu, Chennai (Madras)