The smaller apartments are selling big! Presently, the maximum demand is for 2BHK residential apartments, and the supply is fulfilling this demand. No wonder, some developers claim 55-60 percent of their current inventories are 2BHK units. The General Manager of Marketing at Ashiana Housing Ltd., Atma Sharan, confirms this trend, stating, 'About 55-60 per cent of our inventory comprises 2BHKs. It is definitely the fastest growing segment, particularly for first-home buyers as they are at the beginning of their careers and married life.'
The maximum demand for the 2-bedroom units is from the middle-income group, typically nuclear families with a middle-class salaried employee working in sectors like government, school teaching, BPO, IT, banking, and services. This also includes middle-level self-employed professionals. This preference is likely for nuclear families with small kids, where a third bedroom is not a necessity and not worth the additional cost.
Many developers who were primarily focusing on luxurious housing earlier have shifted their focus to smaller units. It is said that 'the pot of gold lies at the bottom of the pyramid, and that is where everyone wants to get.' The 2BHKs are doing particularly well as they tend to attract the first-time buyer who is young, has just married, and taken the first few steps of their professional life.