Understanding why demand for spacious 3 BHK homes has spiked in Hyderabad
Restrictions, lock-downs, and social distancing have made homebuyers appreciate the importance of spacious homes. This is evident with the increased interest towards larger and spacious homes in Hyderabad across all segments of homebuyers, including NRIs.
This is why residential offerings in Hyderabad, especially in the ‘standalone building segment’ are booming, The demand for ‘one apartment per floor’ and ‘regular apartments’ in these standalone buildings has shot up. As per GHMC, these standalone buildings usually do NOT go beyond 5 storey, with the ground floor reserved for parking. This allows for a low-density living in well-established colonies of Hyderabad like Sainikpuri and Yapral among others.
The larger gated community projects are also reviewing the common amenities that may NOT seem attractive to home buyers for a long time to come—especially swimming pools, gymnasiums, etc.
The builders in Hyderabad have been quick to realign their strategies to this new demand. Clearly, the home-buyers are far more amenable to spending more for more space inside their own home. What’s available ‘under the roof’ is more important than what the builders offer by way of amenities.
So, the built-up area, and the eventual carpet space matter much more today than it was ever felt in the pre-2019 era!
1. Real estate residential buyers in Hyderabad are now seeking builders who are responding innovatively and progressively!
- The builders in Hyderabad are now responding innovatively to ‘the new normal’. The builders, especially the standalone segment has grown exponentially.
- The builders in this segment have been faster and more swift to adapt and evolve to the need for efficient and more space.
- The home buyers respond positively to marketing and communications where the needs of more SPACE and post-pandemic readiness is adequately met!
- These developments include having relevant amenities only viz. spacious elevators, corridors, spacious stairs, adequate parking, contact-less design elements in the building among other things.
- Home buyers in Hyderabad are getting conscious of quality, and want to buy a home that can protect the family needs over the next few decades.
2. Why are spacious homes a priority now?
- Restrictions induced by the Covid-19 pandemic made life stifled within the confines of the home. Be it young children or adults, it is difficult to remain in a small area without adequate leg movement.
- Having to live with family brings the family together, but also invades into their privacy.
- Regardless of age, everybody needs their privacy and ‘me-time’. This can be made possible with more spacious homes and efficient designs.
- This is why people are not only moving towers buying a 3 BHK home, but are wanting to have bigger and more spacious 3 BHK units. The ‘one apartment per floor’ units that are more than 2200 sft cater to this segment of home buyers in Hyderabad.
- Larger and spacious homes help mental and physical well-being, especially when you are even working from home.
3. The future trends that we will see in the residential homes market
- Residences are being designed as per the new normal with more space that allow flexibility, bigger kitchen, and a more functional utility (storage & laundry).
- Designs are becoming healthier, wellness-oriented. You need room to exercise, keep yourself entertained, and also have a sense of privacy when required.
- Flexibility and adaptability of spaces allowing work-from-home and study-from-home spaces.
- Home designs that offer convenience to our daily lives.
- Inclusive designs with more flexible options of converting spaces as per family needs, use of home automation, and customisable furniture being preferred by home buyers.
4. Is this the right time to buy an apartment in Hyderabad?
- The answer is a BIG Yes.
- The property prices are still very affordable in Hyderabad as compared to cities like Mumbai, Pune, Bengaluru among others. A good high-end apartment can be purchased in a price range of Rs 4500 to 6500 per square foot in Hyderabad depending on the location.
- For instance, in Sainikpuri, Yapral belt, you have homes available in the range of Rs 4200 per sft to Rs 6000 per sft. Even luxury homes (‘One apartment per floor’- independent apartments) upwards of 2200 sft are priced at not more than Rs 1.5 crore in Sainikpuri, Yapral belt. This is extremely under-priced and affordable.
- Fortunately, the builders in Hyderabad are responding with agility to these demands, and are upgrading the safety, quality and design features for the post-pandemic world that wants a safer, better Home!
To quote Rosalynn Carter- “There is nothing more important than a good, safe, secure home.”
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