The Disappearing Act of One-Bedroom Flats in Delhi-NCR
Years ago, organizations like the Delhi Development Authority (DDA) and the Ghaziabad Development Authority (GDA) commonly constructed one-bedroom apartments. These smaller dwellings are prevalent throughout the capital city and Ghaziabad, providing housing for a substantial number of families. Despite this current demonstrated need for such units, a perplexing trend has emerged in the real estate market: the dwindling supply of one-bedroom flats.
Reputable real estate companies have largely ceased construction of these smaller homes, making it challenging for prospective buyers to find them. This trend extends across the entire National Capital Region (NCR). Market experts reveal that the high prices of two-, three-, and four-bedroom apartments place homeownership out of reach for numerous individuals, forcing them to abandon the possibility entirely.
These same individuals, however, could potentially afford a single-bedroom flat priced between ₹18-20 lakhs, particularly with the assistance of a home loan. It is therefore puzzling that builders have essentially stopped constructing these units despite the significant demand.
Anil Sharma of the Amrapali Group underscores the urgent need for a greater number of one-bedroom flats, recommending sizes up to 700 square feet. "I know from my own experience that there are many people from my home state Bihar, interested in purchasing small and compact flats here in Delhi. But, due to non-availability of such flats, they keep on living in rented house", Mr. Sharma stated, highlighting the impact of this shortage on individuals seeking affordable housing options.
Mr. Sharma proposed a solution: since builders cannot be compelled to construct one-bedroom apartments, the government should offer financial incentives to encourage the development of these in-demand units. This intervention, he argues, would help address the growing disparity between demand and supply in the affordable housing segment.