The curious case of vanishing 1-BHKs

Like in Mumbai, builders in Navi Mumbai, too, have stopped constructing smaller flats; they cite lack of demand and time taken to sell the flats as reasons

The curious case of vanishing 1-BHKs

Like in Mumbai, builders in Navi Mumbai, too, have stopped constructing smaller flats; they cite lack of demand and time taken to sell the flats as reasons

EVEN the Navi Mumbai option is now closed for property buyers looking for a 1-BHK flat.

Following in the footsteps of their Mumbai counterparts, builders in the satellite city have taken to building only 2- and 3-BHK houses, citing the time taken to sell 1-BHK ones as a major deterrent.

Manohar Shroff, secretary, Maharashtra Chambers of Housing and Industry-Navi Mumbai, confirmed this. "1-BHK flats don't sell the way they used to earlier.

Builders say buyers want premium products hence they have stopped constructing smaller flats in
Navi Mumbai.

I remember one project I had in Koparkhairane with only 1-and 2-BHK flats, in which the bigger flats were sold really quickly while all the smaller ones remained unsold.

Eventually, I had to convert the 1-BHK flats into 2-BHK ones to get buyers to purchase them," he said.
Shroff said builders have stopped constructing 1-BHK flats at least up to Kharghar, which is approximately 35 km from Sion on the central line.

"Vashi, Sanpada, Belapur, Nerul and Kharghar are premium places and most buyers want premium products here. Hence, builders have stopped constructing smaller flats, at least in these areas," he added.

Other builders say there is a demand for 1-BHK flats, but it takes much longer to sell them than it takes to sell a bigger flat.

"Selling a 1-BHK flat is an ordeal while bigger flats attract buyers quickly. Time is a major deterrent and, thus, builders are going ahead with projects devoid of smaller flats," said Rajesh Prajapati of Prajapati developers.

Ajay Chaturvedi, a real estate expert, said, "In some places, it doesn't make sense for buyers to purchase a 1-BHK flat.
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In Palm Beach road, for example, a 1-BHK costs nearly Rs 50 lakh, which is unaffordable for the average buyer looking for a small flat. Those with spending power would much rather throw in a few extra lakhs and live in a bigger flat."

Where to look?

In Navi Mumbai, places like Ulve and Panvel still have 1-BHK flats. Ulve is, however, plagued by connectivity problems and even Panvel is set to go the bigger flat way, according to Prajapati.
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"Even in Panvel, builders are now looking to construct bigger flats to attract buyers. Finding a 1-BHK there is also going to be difficult soon," he said.u00a0u00a0

Buyers' Take
Sanjay Manghwani, a resident of Ulhasnagar, said, "This is a major disappointment. Finding a small house in Mumbai is next to impossible and, even if you do, the price defeats the purpose. Where will the middle-class buyer go?"

Shrinivas Alley from Vashi said, "Developers talk about affordable housing and then eliminate 1-BHK houses from their projects. The Navi Mumbai news will come as a shock to buyers. The builders are setting a bad trend for others."