Thane West Offers Bigger Size units in MMR The county’s six major cities have been witnessing an increasing trend of reduced apartment sizes over the last couple of years so as to compensate for rising property costs. The phenomenon is much more visible in the Mumbai Metropolitan Region (MMR). Having said that, there were a few areas in MMR in the affordable segment that offered higher apartment sizes in the third quarter this year. Thane West led the way, offering bigger apartments compared to other regions of MMR, as per CommonFloor research. Affordable regions in MMR Property rates in MMR are sky-rocketing, where one may find it very difficult to buy a house within the affordable price range. However, there are a few regions in MMR that offer affordable properties in the price range of Rs 40-60 lakh. Some of them include areas of Navi Mumbai such asPanvel, Kamothe, Taloje and Ulwe. Thane West has few areas such as Ghodbunder Road, Manpada andMajiwada that offer a good number of affordable houses in MMR. There are also a few areas in suburban Mumbai, such as Dahisar and Mira Bhayander that offer 1 and 2BHK units in the affordable price range. There are areas beyond Mumbai and Thane that even offer some 3BHK properties within this price range. Thane West offers bigger sizes In order to maintain the affordability, several builders have started offering smaller apartment sizes across these regions over the last two years. The apartment sizes for a 1BHK property in these areas are generally in the range of 330-770 sq. ft., while it may range from 550-1,100 sq. ft. for 2BHK units. For a 3BHK apartment, it may go up to 2,200 sq. Ft. While the apartment sizes in all these regions vary, as per CommonFloor research, areas in Thane West witnessed bigger apartment sizes compared to other affordable regions in MMR. The following table gives an idea about the apartment sizes in various regions. Table: Built areas in different affordable regions in Q3 2014
Region
Min built area Max built area Average built Configuratio (sq. ft) (sq. ft) area (sq. ft) ns (BHK)
Beyond Thane
330
1130
798
1, 2 and 3
Raigad
500
1100
825
1, 2 and 3
Navi Mumbai
470
1675
962
1, 2 and 3
Thane West
615
2196
934
1, 2, 3 and 4
Thane others
650
900
752
1 and 2
One may see from the table that in areas of Thane West, the minimum size of a 1BHK apartment launched in Q3 was about 615 sq. ft. while the maximum built area of a 2BHK apartment was 1,100 sq. Ft. Hence, if you are looking for a recently launched big sized apartment in MMR, Thane West is a good bet.
Source: CommonFloor.com For Latest Updates on Real Estate Updates, Property News and Cities Infrastructure Developments Visit: http://www.commonfloor.com/guide
Copyright Š 2007-14 CommonFloor.com. All rights reserved.