Mumbai: With the soaring property prices, buyers are on the lookout for much more feasible solutions. Either they invest in property that are in the outskirts of the city or prefer to compromise on their requirements. This is the present scenario in Thane where 1bhk flats have become the most sought after option. There has been a sudden rise in demand for 1bhk properties in Thane due to the property price hikes.
People from the middle-age groups have triggered off the demand for 1bhk’s in Thane which are in the price range of 40-40 lakh. Moreover people tend to reconsider their choice of purchasing a 2bhk flat in Thane to that of been satisfied with a 1bhk.
Thane is not the only location in Mumbai to witness such a trend. Other developing localities are also experiencing a similar demand for 1bhk residential flats. Only when the property prices experience stability will there be an equivalent demand for 2bhk flats as well.
Initiatives have been taken to curb the artificial price rise and bring to normal the prices of residential property prices across the city.