As the prices of properties in Pune keeps rocketing sky-high, more and more homebuyers are looking for smaller, affordable configuration units without having to compromise on the location. Keeping this in mind, Pharande Spaces has launched their newest project – Kairosa – offering spacious 1 BHK apartments in the thriving locality of Punawale, near Hinjawadi.
1BHK apartments are gaining popularity as both an investment and residential option for new homebuyers. Here’s how purchasing a 1BHK flat can be a viable choice of investment for you!
The smaller the configuration unit, the more economical it is. A 1BHK flat is affordable especially for first-time home-buyers, newly-wed couples or working professionals on a budget. You have to pay a smaller down payment and EMIs. 1BHK units also come under the affordable housing segment, with low-income group households liable to get subsidised home loans.
The Maharashtra government recently waived property tax on houses that come in a size range under 500 sq. ft. Owners of homes ranging between 500 sq. ft. and 700 sq. ft. avail a 60% reduction in property tax. A smaller unit requires lower utility and maintenance costs as well.
The demand for 2BHK apartments is higher than 1BHK apartments, except in over-crowded and costly cities. This lower demand and high supply of 1BHKs can be quite favourable for home buyers, allowing buyers to purchase this configuration at an agreeable price. The government may even levy tax on the developer for having unsold inventory for over a year. It’s definitely the right time to invest in that 1BHK home!
Smaller units with affordable rent are preferred by new couples and bachelors. The demand for 1BHK flats is high in localities like Hinjawadi & PCMC that witness a large number of migrating professional population. Investing in this unit is a great way of earning a monthly income through rent.
If you’re planning to invest in a 1BHK apartment in PCMC, our new launch project can be the ideal choice for you!