With property prices surging over the past 10 years across locations in Mumbai, the larger size apartments or the spacious apartments are becoming extinct. A carpet size of 700 is now acceptable as the price really falls in the expectation or the budgets of home buyers in Mumbai.
The concept of inside space is now augmented by outside space as the developers focus a lot on giving outside amenities for max recreation for all age groups.
The concept of small gated communities is springing up in Mumbai with a cluster of small buildings having their own niche spaces for recreation and a classic example is X BKC at Bandra East and Rustomjee Seasons at Bandra East which give the Home Buyers max amenities in their projects. The new complex by L&T at Emerald Isle Powai also has some efficiently planned apartments.
The New Gen Home Buyer is well read, travelled and savvy and he is not interested in a stand alone building with minimal features, he or she aspire for much more.
Interesting times ahead and the buyers are likely to get more outside than inside.
Author – Sandeep Sadh