When small is big
Studios are among the fastest moving products in Yamuna Expressway as they involve low investments and offer big returns
Aproduct that is increasingly doing well in Yamuna Expressway is the studio apartment. Jaypee claims to have sold 3000 such units – the Buddh Circuit studios 1 and II in just about 90 days from April to June this year. Real estate experts point out that this is primarily because this category involves low investment and big returns.
While the value of a regular apartment doubles in more than five years, that of a studio apartment will double in three years, they say.
In Yamuna Expressway the product is popular among people living in areas such as Aligarh, Mathura etc who have invested in the hope that their wards will be studying in the universities in the area.
It is a product that is being picked up by people from nearby towns such as Khurja, Aligarh and Bulandshahr. “We have launched about 2000 units in our two projects in Yamuna Expressway Golf Country and Upcountry,” says R K Arora, CMD, Supertech Group Limited.
If the area develops into a education hub, something similar to Pune, studios will cater to the floating student population. These will always be a hit among teachers and those employed in corporates in the area who do not have the wherewithal to invest in large-sized apartments, says a broker active in the area.
Satyendra of Realty Mart says that almost 95% of those who have bought into studios in the area are investors.
Studios will prove to be popular among visitors to the Night Safari once it becomes operational and during the F1 event.
Vipul Gupta of Neobrix says that Yamuna Expressway as a destination in popular among those wanting to make it their second home.
Since studios are smallticket size units, they will work well for families wanting to get away from the main city during the weekends.
The studios that were launched two years ago at prime locations, about 5 km from Pari Chowk, were priced at about R10 lakh. These are going for R14 lakh now.
The new launches in this category are almost 10 km from Pari Chowk and cost around R12 lakh.