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Buyers’ market: As demand for multi-bedroom flats mounts, builders cater to the need of the times.

Be it a single, double or three-bedroom apartment- the size and numbers hardly diminished that sense of pride or joy.

But things have changed dramatically in the last few years on a par with the growing aspirations of the middle-class.

These days a two-bedroom flat has become the basic unit while demand is steadily up for three and more bed room flats.

“Families indeed no longer prefer single bedroom flats now,” agrees K. Ravinder Reddy, Chairman and Managing Director of Janapriya, a long standing real estate company.

With the nuclear/small family norm taking roots firmly in the last two decades, two bedroom flat emerged as the correct accommodation, one bedroom each for parents and children thereby cutting down the demand for singe bedroom flat.

The economy before 1995 with high interest rates and low salaries meant that many families used to compromise and opt for a single bedroom flat.

It was a decision based on economy, reality and compulsion. Post 2000, things have undergone a change in the housing sector.

With the reduction in home loan rates, rise in salaries in IT and other sectors, 95 per cent of flat cost being sanctioned as loan, quantum jump in loan eligibility, two BR apartments became the preferred choice, even if it meant compromising on the plinth area.

A second bedroom, even if it was a tiny one, has become a necessity, Mr. Reddy opines.

The single bedroom concept is near passé with hardly any takers. Scan any real estate project brochure or the classified advertisements of newspapers, single bedroom flats are marginalised.

They are constructed more to accommodate an odd piece of area or preferred if they are service or studio apartments.

Agrees Mahidhar, a software engineer.

Thus many a double- income family prefers to wait and mobilise the required amount for a two BR flat, as it would be a comfortable, long -term option and even a permanent asset for many.

If the construction cost and interest rates go up along with the land cost pushing the cost per sft steeply, then people may opt for single BR.

But as of now, only about one per cent of new constructions are single bedroom flats as they are the last option for builders in the market dictated by demand and supply, Mr. Reddy points out.Y. Kiron of Suchir India attributes the decline in demand for single bedroom flats to changing lifestyles and mindset. Unlike in the past, families prefer privacy and space and thus a separate bedroom for children is given.

Moreover in the last few years, builders did not experience the compulsion to build single bedroom flats as demand was predominantly for two and three bedroom ones. Mr. Kiron predicts that if apartment prices rise further, people may prefer independent or duplex houses in suburbs.

With connectivity set to improve , people would not mind living 30 km to 40 km away from the core city in a home of their own rather than compromise on a single bedroom entity in the heart of the city.

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