With metros getting overcrowded with time, builders have now made a smart new addition to their product portfolio. Called studio flats, these small yet modern apartments are specially designed for bachelors and couples to offer a hassle-free living space. A studio flat is a single open space that houses everything, a living room, a bedroom, and a kitchen. So, in case you are looking to invest in flats in Bangalore, you may consider a studio flat. These flats are compact and offer comfortable living at a low cost.
Read on to know why buying a studio flat in Bangalore is a smart move.
You can pay low EMIs, almost equal to rent
Buying a large apartment close to your workplace can be an expensive proposition. Instead, you may be renting a flat either by yourself, your spouse or with roommates to keep it pocket-friendly. In such cases, your best bet is to invest in a studio flat as it is more affordable with EMIs that are well within your budget. For instance, the EMI for a studio flat of Rs.10 lakh for a tenor of 15 years at 10% interest will be around Rs.10,746. Thus, in comparison to paying rent of almost the same amount, you can pay EMIs and become a homeowner!
You can easily maintain the space
As studio flats are compact, they are easy to maintain. Moreover, you can skip hiring domestic help and clean the place by yourself once a week or when time permits. This way, you can use the money that you save in prepaying your home loan. Also, since studio flats are part of an apartment complex, external maintenance costs are contributed by all residents equally, so you don’t have to shell out a lot.
You can enjoy the ease of conveyance to work
Property developers usually offer a range of studio apartments near business hubs and popular commercial centres such as Whitefield, Koramangala, Silk Board, and more. By buying a studio flat in Bangalore in these strategic locations, you can benefit from the well-connected transport facilities that the city has to offer and can even use your own means to commute to work conveniently.
You own a value-appreciating asset
Since studio apartments charge low rentals and are easy to maintain, the demand for them is increasing more than ever. Therefore, it has good potential for value appreciation. If you ever want to sell the property, you will certainly enjoy capital gains.
You can rent it in the future
In the future, even if you buy a bigger home or move to a different city, you can still count on your asset to generate lucrative rental income. So, while buying a studio flat, make sure it has the necessary amenities in the building complex and is situated close to commercial districts.
These 5 reasons sum up the increasing demand for studio flats in Bangalore, and you too can start your property search right away. Look for studio apartments in modern, self-contained townships like Assetz Marq that is sprawled across a green and lush 22-acre property in Whitefield and is close to many business parks. The township offers convenient and comfortable living with amenities like an amphitheatre, basketball court, pet lawn, and more.
To make your purchase more economical, consider availing a home loan offered by Bajaj Housing Finance Limited to enjoy a loan amount of up to Rs.3.5 crore at nominal interest rates, so you don’t have to compromise on the various facilities of the flat. Along with access to finances, you can avail other services to make your purchase delightful. By availing the free property dossier, you can keep abreast with the legal and financial aspects of purchasing a property. With the in-person assistance, you can visit various sites and select the right one under expert guidance. Moreover, you can also benefit from the documentation assistance to hasten your buying process. So, check your pre-approved offer from Bajaj Housing Finance Limited and view your customised deal to apply instantly.