Rise in Demand of Studio Apartments in Noida

Bangalore:  Studio apartments, serviced apartments and 1BHKs are the emerging trend in real estate. The Noida Expressway is one such example which is witnessing soaring demand of studio apartments. This expressway stretch is grabbing attention of developers and buyers, who are showing more interest in studio apartments instead of IT companies which was actually proposed on this stretch. As per market sources, the main buyers of the studio apartments are single workers which has led to the rise in demand of such apartments considering the fact that many IT companies and BPOs are now setting up their base along the Noida expressway, source MagicBricks Bureau.

Developers and realtors believe that investment in studio apartments would fetch good return of interest (ROI) in coming 3 to 5 years. Currently, studio apartments are witnessing high demand as it requires less investment, said Rajesh Goyal, MD, RG Group, on a chat forum on MagicBricks site. In addition, Honey Katiyal, CEO, Investors Clinic Infratech, on this note stated that, considering the developments like proposed night safari and Formula 1, the studio apartments are likely to give rentals around 200 per square feet.

According to a Local realtor, Vishal Jain of Invest Idealized, IT Park, planned Adventure Park and night safari are driving the demand for studio apartments on Noida Expressway. He also added that “If all the plans are implemented, then one can expect a good rate of rental return as well as appreciation in future,” reports MagicBricks.

Jain further said that the primary buyers of these studio apartments are single workers for end use perspective and families seek these apartments for investment perspective. Shorya Agarwal of REMAX Pro Vantage, a realtor, stated that in next 2 to 3 years, these studio apartments will fetch an annual rental return of 9 to 12 percent. He also added that “Studios are better from the perspective of a regular income as the investment is less and return is good,” reports MagicBricks.

Moreover, IT companies like HCL, Infosys and Wipro are mulling to set up their base on Noida Expressway, with these companies approaching the demand for studio apartments is expected to increase furthermore as executives acquire these apartments on rent, on yearly basis.