Studio apartments are extremely popular in NCR, Bangalore, Mumbai, Hyderabad and Pune. However, it is in Mumbai and Gurugram that developers have innovated with the concept and taken it to a whole new level.
In the case of Gurugram, India’s premium global corporate hub which has offices of world’s leading IT companies and MNCs along with its proximity to the international airport, studio apartments have emerged as a saviour for its working population. As a large part of its working population is not native to the city and with foreigners constituting a significant portion of it, studio apartments have emerged as a popular choice.
What distinguishes the luxury studio apartments is not just their size but also 5-star facilities and hospitality. Going beyond the concierge service, laundry and restaurants, the star-category clubbing facilities, a wide range of international cuisine specialising the needs of their guests are the distinguishing features. Hospitality plays an important role in shaping the future of luxury studio apartments. This may include grand welcome lobby, dedicated reception, 24×7 room service, safety & security, healthcare, gym, recreational hubs and entertainment facilities, among others.
These luxury studio apartments, with neo-rich and expat community residing in it, attract a handsome rental income with rental yield as high as 7-8%. The price of studio apartments in Bangalore, Mumbai, Gurugram, Delhi and Pune mostly depends on varied factors like amenities, location and availability but high-quality services are the ultimate determinant of price and rental.
Of late, Sohna Road as a micro market in Gurugram has emerged as one of the most promising real estate hotbeds owing to its accessibility. The studio apartments coming up in this region include some of the most respected real estate names.
By Amarjit Bakshi, CMD, Central Park
Source : Financial Express
Source : Developer
