Based on recent homebuying trends, there is a growing number of people opting for bigger homes of 3BHK and 4BHK sizes compared to other configurations like 1BHK and 2BHK. However, the demand for smaller homes, especially 1BHK apartments, continues to exist. The demand mainly comes from people who seek affordability or rental returns. Those who track real estate trends would be aware that property prices depend on several factors, such as location, property type, size, layout, etc. A 1BHK may not be quite affordable if it is located in a premium neighbourhood. Besides, the pricing for a newly constructed apartment will differ from that for a resale property. Nevertheless, one-bedroom units are still being sold at a premium. Many buyers wonder whether it is worth purchasing a 1BHK apartment at a premium price. Let’s find out.
Prices of 1 BHK apartments in top cities
| City | Price range (in Rs)* |
| Delhi | 20 lakh – 1 crore |
| Noida | 15 lakh – 1 crore |
| Gurgaon | 25 lakh – 3 crore |
| Mumbai | 30 lakh – 4 crore |
| Pune | 10 lakh – 1 crore |
| Ahmedabad | 16 lakh – 50 lakh |
| Chennai | 25 lakh – 90 lakh |
| Bengaluru | 25 lakh – 1.5 crore |
*Values are indicative
Latest trends of 1BHK homes in India
In most projects, 1-BHK units are standalone apartments, with super built-up areas of 280 sq ft to 700 sq ft. The price of these units start at Rs 10 lakhs and go as high as Rs 5 crore, depending on the amenities and other add-on features on offer. The prices could be even higher in premium neighbourhoods in metro cities. Sometimes, the premium price of one and two-bedroom apartments is a result of the high demand for such properties. “Wherever the prices are higher, it is on account of the fact that developers have to subsume the land cost, cost of taxation and amenities provided in the project,” justifies Tejas Vyas, chairman of the MCHI, the Maharashtra chapter of CREDAI, an industry body.
Typically, the demand for 1BHK homes close to airports and commercial hubs, in particular, is quite high, especially among single working professionals or young couples. Many look for earning rental returns and prefer to invest in 1BHK apartments.
According to the latest industry trends, homebuyers in key residential markets such as Noida and Gurgaon are gradually moving towards spacious apartments rather than compact 1BHK homes. The trend began around the Covid-19 pandemic when many families shifted to bigger homes. As a result of work-from-home culture, the preference for bigger homes have increased in recent years.
Industry experts suggest that most buyers have become wary of choosing 1BHK homes and factors such as skyrocketing property prices, rising inflation and costly home loans have been instrumental in influencing this buyer behaviour.
One-bedroom properties: What should home seekers do?
Experts say that buyers who have growing families should refrain from this category. Extending one’s budget and choosing a two-bedroom apartment with a similar price may have better saleability in the current market.
Location of the project is an important consideration. Most of the 1-BHK units on offer, are generally part of a bigger project. Buyers must consider the location of these units within the entire township, while buying the property. A bad location that hinders natural light or lacks essential facilities, may make it difficult to live in the flat and also difficult to sell.
Consider buying a high-priced one-bedroom apartment as investment only in regions where there is healthy potential for returns on investment, in form of high rentals. Opt for units that are located in a city, where there is high influx of tourists, or a region that is part of a business district.
