Single bedroom flats vanishing from Hyderabad

Changing aspirations, increasing spending capacity of buyers major factors for trend

By Author  |  Published: 13th Jul 2019  12:10 amUpdated: 12th Jul 2019  9:31 pm
Single bedroom flats
Single bedroom flats are nowadays hardly being considered both by the builders and the prospective buyers.

Hyderabad: There was a time, when they were among the most sought after and a major part of construction modules in the city. Single bedrooms they were called and later referred to as 1BHK.

But then, of course the lifestyle has also changed and those small and cosy nests have started to vanish. Till a couple of decades back, single bedroom flats were an integral part of apartment plans drawn by a builder. Now, however, they are hardly being considered both by the builders and the prospective buyers.

Reasons could be many but of them all, affordability, economics and changing aspirations are the major ones that sounded the death knell for the concept of single bedroom flats.

Though still in vogue in some of the metros like Mumbai, where space availability is a major challenge, single bedroom flats are almost becoming a thing of the past in Hyderabad.

It is mainly attributed to the increasing spending capacity of the buyers. Earlier, budget used to define a buyer’s demand and the idea of owning a dream house. Now, things have changed, along with the preferences. People are now looking for spacious living spaces, said Telangana Builders Association Chairman DVN Reddy.

Save for the IT corridors and corporate hubs, where employees from outstations prefer to own a property in the city, the demand for single bedroom flats is almost vanished, he said.

Earlier, builders used to have a single bedroom unit in their plans alongside double bedroom flats. This was basically done to make optimum use of the available space and to cater to the demand for single bedroom flats.

With changing times, the spending capacity of buyers has gone up. Banks and financial institutions are lending home loans in a few days and the central government is proposing revision of interest rates. All these factors have fuelled the demand for two and three bedroom flats.

“Even the State government is offering free affordable houses by constructing two bedroom flats for the low income groups. The aspirations of people have changed, especially middle income groups,” said Reddy.

According to the experts in the industry, the demand for more space is slowly but surely catching up in the city. Till recently, a double bedroom flat was constructed in about 1000 square feet but now the demand is for more space.

In tune, the builders are now offering flats admeasuring 1300 to 1,600 square feet. Apart from changing lifestyles, home buying is now being perceived as one-time investment. Hence, most are planning for future and are opting for spacious flats.

Even from the industry perspective, many builders point out that constructing single bedroom flats is not feasible. Building by-laws have changed and stringent rules have come up.

In the past, there was common wall concept and this was predominant in the apartments. Now, it is mandatory to have space between each apartment and it forces builders to leave space.

With escalating land prices, every yard and every square foot space is valuable. Accordingly, builders are not keen in single bedroom flats. More importantly, the cost of construction is almost equivalent to that of constructing double bedroom flats, save for the space.

The few single bedroom flats, which still remain in the city and are continued to be used are either been converted into service apartments or guest houses for deriving commercial benefits.

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