Realty firm Akruti Developers is actively enticing home buyers to consider their serviced studio-apartments project by presenting an appealing rent guarantee scheme to prospective investors. Named 'Afallon', the project is set to emerge in the bustling Whitefield technology hub, conveniently located near the International Tech Park, as conveyed by Akruti Developers’ managing director, Nikhil Jadhav.
Aimed at young professionals, the project features apartments priced under Rs 30 lakh, offering the perfect opportunity for buyers to invest in an asset and enjoy a steady income stream.
These studio apartments, measuring approximately 700-800 square feet, are attractively priced between Rs 22-30 lakh and will come fully furnished. In Mr. Jadhav’s words, "We believe that these homes can serve as a source of parallel income when the owner rents them out to guests frequently. Additionally, over the years, owners will also reap the benefits from the appreciation of the property’s value." Furthermore, housekeeping and maintenance services will be managed by a professional firm to ensure better upkeep.
For those who enter into a rental agreement with the developer, a fixed rent will be remitted for three years, and maintenance fees will not apply. Conversely, if owners prefer to independently seek tenants, they will incur a monthly maintenance fee. Mr. Jadhav noted, "Rental guarantee schemes are exceptionally popular overseas, and developers are continually introducing new incentives to attract buyers, especially amidst declining sales."
Afallon will comprise 120 studio apartments and sales will be conducted via invitation only. The project promises an array of amenities including a business center, car hire services, daily housekeeping, a gym, cook-on-request, and a doctor available on call. In a strategic move, Akruti plans to retain a significant portion of the project by selling only sixty units.
“This will help generate investor confidence, demonstrating our commitment to delivering a quality product,” Mr. Jadhav emphasized. Construction is slated to commence in February, with apartments projected to be ready for handover in two years. Akruti has successfully completed eight projects in Bangalore and two in Goa.