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Get on the Move

Last year, Bengaluru began one section of its Namma metro service in the east-west corridor, carrying 100,000 commuters a day, giving an escape from the overcrowded Bangalore roads. The city breathed a sigh of relief!

Bengaluru has an underlying association with constant traffic. Its traffic-choked roads have seen the addition of roughly 500,000 vehicles in every financial year. In 2016-17, the total number of vehicles in the city crossed the 60-lakh mark.

Every year there is constant increase of 5 lakh vehicles on road

With an increasing number of private vehicles hitting the roads in a city that can barely handle existing traffic, the metro is expected to give some respite to regular commuters. According to the RTO Karnataka lists, 61,08,936 vehicles operate in the Bengaluru Metropolitan area as of March 2016. In March 2015, 55.59 lakh vehicles were recorded while a year earlier, the vehicle numbers were 50.50 lakh.
The Bangalore Metro Rail Corporation Ltd (BMRCL) has set out to change exactly that.

The inception of Namma Metro in or Bengaluru has made it easier to travel to different parts of the city including outlying suburbs, riding over traffic jams. Once the entire 42 km stretch becomes operational, the ridership is expected to grow from 1.8 lakh to 5 lakh per day. The metro is now used by 7 plus crore commuters using it since its inauguration in 2011.

Considering that a good majority of them use it at least 5 times a week, the metro will play a large role in reducing traffic congestion. It also provides those who work far from home with a convenient travel option, as well as an alternative mode of travel during ab/bus strikes. A good example of this was last year’s transport strike the metro helped around 2 lakh commuters travel safely to work as well as get home.

The Red metro line to save us from Manyata congestion

The expansion plans of Metro aim to ease traffic on busy roads such as the Outer Ring Road. The proposed red metro line will have three stations—Hebbal, Yelahanka and KIA—with a possible chance of a station near the Manyata Tech Park, an upcoming IT hub. With techies frustrated that it takes an hour just to get out of the Tech Park, the Metro service in the area will definitely improve commuting times. Not only that, the Metro service will also give residents in the area a quick and convenient mode of transport to reach the heart of the city. The proposed new metro line and stations will be in close vicinity to areas like ORR, Nagavara circle and Thanisandra main road, allowing upcoming housing projects to be well connected within the area as well as to places like MG Road and the airport.

The Metro will bring convenience of commute for all its residents in the area and make it easier to travel to the heart of the city as also provide a means to get to the airport faster. With our latest project called Here & Now, off Thanisandra Road, we have a contemporary and comfortable home with an excellent social infrastructure. To know more, https://www.assetzproperty.com/hereandnow/

 

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Whitefield- Drivers for Residential Property

Introduction

If one were to note down all that makes Bangalore a city that catches attention for all the right reasons, they would end up with an exhaustive list. Leading in spheres of Information Technology, outsourcing, education and cleanliness- to name a few- the Bangalore conglomerate houses cosmopolitan crowds, expats, businesspeople and more. If the influx of 1000 people a day isn’t testimony enough to its liveability, its 10% economic growth per year surely is. (Knight Frank)

The city has the lowest vacancy levels amongst seven major office markets (Pune, Hyderabad, Mumbai, Delhi-NCR, Chennai, Kolkata). Developers have not only consistently kept up with the market dynamics but have also successfully had occupiers take up any new supply that they have put out. (JLL India)

Introducing Whitefield

Whitefield Main Road
Image Source: Magicbricks  

Like most success stories, Whitefield started at the bottom and was once a barren, hardly inhabited land.  When the then Maharaja of Mysore, Chamraja Wodeyar IX- 200 years ago- gave away a portion of the land to Anglo Indians and Eurasians, not only did Whitefield get its name, but also its identity. In-fact, with the IT boom to aid this transformation, Whitefield went from being the least frequented land to one of the most sought-after localities in Bangalore. What was once barren is now abundant with IT-Parks.

A major suburban locality in Bangalore, Whitefield is also one of BBMP’s (Bruhat Bengaluru Mahanagara Palike) most important parts. However, rapid growth and IT presence has had its toll on Whitefield. The luxury of self-sufficiency turns into a necessity in Whitefield since it’s known for not just extremely slow moving traffic, but absolutely stagnant traffic for hours on end. Projects are underway to ease this with decks being cleared for two grade separators at Kundalahalli Gate and Hope Farm Junction as well widening of the Graphite India Junction amongst others.

The Roads To and From Whitefield

Whitefield Railway Station
Image Source: India Rail Info

Whitefield is bordered by Mahadevapura, Marathahalli, Bellandur and Krishnaraja Puram. These areas are lined with big names in the IT-world like Saint Gobain, Tata, IBM, Intel, Life Tree and more. Considering the importance of an IT-zone such as Whitefield, connectivity was one of the biggest focus points of this area as it was being developed (and today).

As a result, the area is well connected, be it via road, rail or (in the future) metro.

In terms of railways, the Whitefield Railway station which is situated in Kadugodi witnesses a flurry of trains going from its platform every day. This primarily involves trains to and from  Mysore, Chennai and Kolar. The station is also expected to be elevated in status to being a junction once the quadruple lines being laid are completed. Yeshwanthpur Railway Station is an hour’s drive away, while the Marathalli station is 7 km away.

When it comes to roadways, 3 km from the Railway station is the Whitefield Bus-stop. BMTC (Bangalore Metropolitan Transport Corporation) buses provide easy intercity access from Whitefield with both regular and Vajra (AC) buses frequenting all bus stops in the area. The more popular ones are Vydehi Hospital Bus Stop, Forum Value Mall Bus Stop and the Whitefield Bus Stop. Airport buses frequent these major bus stops as well. The locality also has two four-lane roads, namely Whitefield Road via Mahadevapuram and HAL (Old Airport) road via Marathahalli, that connect Whitefield to other parts of the city.

Whitefield couldn’t do without a metro line and hence in the proposed Phase II of Namma Metro, there will be a line connecting Byappanahalli to Whitefield, which is expected to take the ease of connectivity a step further.

What Whitefield Has To Offer

VR Bengaluru, ITPL Main Road
Image Source: BuzzInTown

Often known to make its residents self-sufficient and self-contained, Whitefield-despite its excellent connectivity- leaves no reason for long distance travelling due to its excellent social infrastructure and amenities. Infact, considering peak-hours traffic, this was a requirement for the area that it has stepped up to.

In terms of education, there are schools affiliated to all boards (national and international) and the more popular options are Whitefield Global, Ryan International, St. Thomas and The Deens Academy School and Ryan International amongst others. Colleges and institutions for higher education include Vydehi Institute of Medical Sciences & Research Centre, and Sri Sathya Sai Institute of Higher Medical Sciences, Institute of Bioinformatics.

High-end healthcare options are available with major hospitals like Narayana Multi-Speciality Hospital, Columbia Asia Hospital, Cloudnine Clinic, and Sri Sathya Sai General Hospital in the area. Needles to say the region also has quite a few specialty clinics and pharmacies.

Vivanta by Taj, Whitefield
Image Source: Pinterest

Coming in an arguable third in terms of food joints and restaurants (after Indiranagar and Koramangala) Whitefield has big names in the hospitality sector like Vivanta by Taj, The Zuri Whitefield, MGM Mark Whitefield, Royal Orchid Suites, and Bengaluru Marriott Hotel. In terms of good food and nightlife, it has restaurants like The Bungalow, The Egg Factory, Burger King, Herbs & Spices, The Fat Chef, and Ji Hazoo and the more popular Windmills Craftworks, The Biere Club, Harry’s Bar + Café, The Irish House, Whitefield Socials, Oliver’s Pub & Diner and more.

When there’s a good commercial belt in an area, shopping and malls are an imperative. Whitefield has the best to offer with Phoenix Market City, Forum Value Mall, VR Bengaluru, Inorbit Mall, Ascendas Park Square and more. PVR Cinemas and INOX offered at Phoenix and VR Bengaluru are frequented by residents. VR Mall is known to have the only H&M store in Bangalore and the only other Adidas Originals store in Bangalore (after Brigade Road) Whitefield is known to have India’s first entertainment and retail mall Virginia- partnership between Virginia Developers and Smaaash Entertainment. Needless to say the area also has abundant numbers of hypermarkets, supermarkets, grocery stores and general stores as well.

Clubs like the Whitefield club, Palm Meadows club apart from parks are available as well.

What Whitefield Promises To Have

What makes an area worth appreciation is the promise of future growth and potential. The proposed Metro railway line aside, Whitefield continues to grow.

This includes the upcoming Embassy Mall on Whitefield Main Road as well as Diesel-Electric Multiple Unit (DEMU) train special services between Yeshwanthpur and Whitefield.

Considering traffic-issues, road widening projects have also been proposed for Kadugodi Road and Chinapanahalli.

The Case of Sai Baba Ashram Road

Sai Baba Ashram Road
Image Source: Image Mitula

Development flurry in the core of Whitefield has left little space for much else. As central Whitefield moved out of bounds, the focus shifted to an area that’s just off Whitefield, the Saibaba Ashram Road. This area is rapidly developing and witnessing new residential projects from several noteworthy developers. Reasons for appeal of Saibaba Ashram road include – improved six-lane connectivity to the city and direct connectivity to the airport via Budigere cross. Few office and IT Parks are already functional here such as the Beary’s 1 million sqft global research park. This has led to the prices of Apartment, Villa and Plot in Sai Baba Ashram to rise.

Why Invest In Whitefield

Whitefield Road
Image Source: WikiMedia

Nothing shows promise like a property close to IT-sectors. With Whitefield being in and surrounded by them, the worth of the area goes only higher. Giants like Wipro, IBM, CS and Oracle have set shops in the area and with its proximity and connectivity at an all time high, the demand for homes in Whitefield has always been high. Expats, businesspeople, IT professionals come in every day in Bangalore and would desire a home close to work spaces.

Considering the client description of the average property buyer in Whitefield, most homes offer luxurious spaces and comfort of living. If one were to closely study patterns in properties in Whitefield, they would notice high-end projects delivering the best of all worlds.

Since Bangalore is growing on all sides and further away from the centre, it’s but understandable for buyers to want an all exclusive space that reduces every need for travel even as they maintain to notch facilities.

Hence the most interesting properties are those that offer various conveniences within gated complexes. Also considering the traffic that Bangalore, and particularly Whitefield is known for, most buyers look for homes that are self-sufficient, offer green spaces (Whitefield) and that limit travel to the maximum.

An apartment in the area is easy to rent out, keeping in mind how most people who travel to Bangalore for work, would look at the area as their top preference. Properties here are available from Rs. 4500-8500 per sq ft (Knight Frank, 2016).

The more popular builders in this area are all based in and around Sai Baba Ashram Road, which include Assetz, who have their project Marq offering 2,3 and 4 BHK apartments with self-sufficient facilities of a commercial complex and school for every neighbourhood in their 28 acre project, Adarsh Serenity with 3 and 4 BHK all inclusive villas and Prestige White Meadows which include apartments as well as villas offering ultra luxury.

Other builders in the area include Sobha, Nitesh, Keystone Properties, Sterling, Mahaveer, Mantri, Janapriya, Goyal and Co, Hariyana Group and Goel Ganga Group.

With relative property value stability and steady development, Whitefield is a good choice for property investment. Most builders in Whitefield are top notch and hence ensure that they are through with necessary legalities and paper works, thus easing the burden on non-residents.

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Assetz Marq- Specifications

Whitefield- An Introduction

Bangalore’s popularity for being the IT-capital and a leader in the spheres of outsourcing, education and cleanliness often collides with its notorious traffic. For a city that experiences a growth rate of 10% every year (economic), it’s no surprise that more than 1000 people make the city their home, every day. The Silicon Valley in the East is home to several IT Parks and start-ups as well. The process of the city turning into a concrete jungle is directly proportional to the increase in traffic on the roads. Home buyers, hence, look for townships that offer not just location benefits of being close to their workplaces but also have good social infrastructure to minimize travel as much as they can.

Whitefield’s popularity as an IT-hub comes from its connectivity to Mahadevapura, Marathahalli, Bellandur and Krishnaraja Puram apart from being home to several IT-Parks itself.   With big names like Saint Gobain, Tata, IBM, Intel, Life Tree and more in close proximity, Whitefield is at the top of the list for most people who come into the city.  This led to development of social infrastructure and public infrastructure. Whitefield has some of the most popular malls in the city, good schools and restaurants as well as a well-connected network of roadways, railways and (in the future) the Bangalore metro.

Whitefield- Properties On Offer


Despite Whitefield having its share of perks with location, infrastructure and connectivity it is notorious for its traffic. As Bangalore continues to grow further away from its centre, an all exclusive space that reduces every need for travel (all amenities and more included) is a given for buyers. To add to this, with most buyers being expats, business people and IT professionals, luxury is expected out of the properties. Considering these needs and desires of the average property buyer in the location- most homes in Whitefield offer luxurious, all-inclusive spaces. One glance at all the properties in Whitefield, and high-end projects delivering the best of amenities and offerings would stand out. A characteristic home in Whitefield is luxurious and limits travel to the offices. The real difference, then, lies in how self-sufficient it is and what amenities it offers. Popular builders in the area include Assetz, Prestige and Sobha.

Prestige Group has its property The Prestige Park View on Hope Farm Junction. The project offers 2 BHK and 3 BHK luxury apartments. The property offers basic amenities like indoor games, swimming pool, gymnasium, maintenance staff, outdoor sports, garden, 24 hr backup, and security along with modern amenities like WiFi, intercom, club house and rain water harvesting. The project also has a temple on the campus.
Sobha Limited’s more popular projects in Whitefield include Sobha Avenue and Sobha Habitech. Sobha Avenue in Whitefield, offering well designed 3BHK apartments. The project has all the basic amenities along with a play area. Sobha Habitech, meanwhile, has 324 units of 2, 3 and 4 bedrooms homes with amenities like a fully equipped gym, multipurpose hall, library, TT court, badminton court and others.

Assetz Marq- Self Sufficient Living


Assetz Group’s Marq takes the need for all-inclusive homes in Whitefield quite seriously. The expansive plans consider the growing pollution and need for space in Whitefield. This is apart from what’s desired in a home in the area- luxury and comfort. Assetz Marq on Sai Baba Ashram Road aims to provide smart homes and luxury living while catering to every possible need of their residents. Shapoorji Pallonji Engineering and Construction Company which has built a stellar reputation for itself in 100 years of their experience, has been entrusted with the construction responsibilities of this project. The project offers 2BHK and 3BHK homes, each ranging 1245 sq ft to 1639 sq ft. Marq’s unique quotient isn’t limited to a single factor and the project offers several things that make it stand out.

The first feature that makes Marq stand out is the fact that it’s a mixed development. The project not only caters to residential needs, but also commercial needs. With a 5 acre large commercial establishment, Assetz is set to feature a school, a food court, service apartments, IT- business shopping complex. This ensures that residents are literally a walk away from their necessities.

The second feature that makes Marq special is its design. The mind behind the project is Mr Ross Bonthorne who brings with him his experience of Australian design and living. His plans offer adequate space and light in each home. The project is also equipped with green technology like rainwater harvesting system and disposal systems. The construction technique used is Mivan Technology which is leagues ahead of the more common Conventional Technology.

The third feature that sets Marq apart is its child-friendliness.  Apart from the school that makes going to school a commuting-free task, child-safety is of utmost importance at Marq. Each building has an open space at the ground level for children to play in. A child-monitoring system by Fibre-to-the-home technology helps parents keep track of their kid’s whereabouts at all times. Children’s play area has also been maximized.

The fourth feature that makes Marq different is its tech-friendliness. Apart from the collaboration with Fibre-to-the-home technology, Marq uses technology to offer ease of living to its residents. This includes entertainment, carpooling arrangements, child safety and amenities.

The fifth feature that makes Marq stand out is its amenities on offer. Marq doesn’t just offer regular amenities- it adds a modern spin to it. Not only does the project have a club house, but it has a clubhouse for each of its neighborhood. Each club house comes with a gym with all modern facilities, indoor and outdoor games.

A self sufficient gated community of the size of MARQ is rare at Whitefield and it comes fully loaded with social and infrastructure amenities one would require for convenient living.

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Assetz Marq – One stop destination for all your home needs

Assetz Property Group was founded in 2006 and the young-gun continues to find itself in the top of the lists of developers in India. Headquartered in Singapore, Assetz has dabbled in spheres related to the commercial, residential, warehousing and fund management sectors. At this moment, Assetz is behind over 10 million square feet of development land. Assetz takes pride in their designs and they put in a lot of research behind each of its projects. Assetz properties’ master plans, architecture, choice of location, development strategy and design stand testimony to their work ethics and their abilities. With an upward growth trajectory, Assetz is not just a young player, but also the face of the future.

Assetz Marq- Location

Whitefield’s rapid development, especially in the central region, hasn’t done residential development too many favors. With the main areas of Whitefield out of bounds and saturated, all the focus shifted to an area just off Whitefield called Sai Baba Ashram Road. With excellent connectivity, proximity to industries and distance enough from the busy Whitefield streets, this area is not only developing rapidly but is also witnessing new residential projects springing up. For a project that’s large enough for an all-inclusive luxury development requires space while one that demands peace and comfort of living requires distance enough from the noise of traffic. Sai Baba Ashram offers all of these things, even while fulfilling needs of connectivity making it perfect for a development such as Assetz Marq.

Assetz Marq- Interiors, Design, Structure

A project that’s 28 acres large has to have a thought-out plan in place, and Assetz stepped up to that need with Marq.

Each home in Marq is well ventilated, vaastu compliant and large. 3BHK apartments are only on the corners of each floor and each floor houses only 4 families. Tower sizes across the project are different so as to keep up with views and space for each.

The project is divided into 4 neighborhoods (phases) each 20,000 sq feet large. Each neighborhood has its own clubhouse with all the required amenities and more. 70% of the entire project area is open space while 30% is residential and commercial space combined.

Marq being the only mixed development of its kind in Whitefield, offers a commercial complex, complete with shopping centre, food court, school, IT offices and more.

Assetz doesn’t forget the importance of being environmentally conscious and Marq has every provision for a green space including rain water harvesting systems, a rooftop pool, a sewage treatment plant and organic waste converter. There is also an electric vehicle charging points in basements as well as a large central linear park around the perimeter of the project filled with dense tree growth ensure abundant green space.

Assetz Marq comes with Italian quality and sturdiness. Doors, tiles and most fittings have been imported from Italy. Construction type has also been of great importance to Assetz and they’ve chosen to go with Mivan technology instead of conventional techniques.

Know more: Unique Features of Assetz Marq

Assetz Marq- Sustainable, Self-Sufficient, Quality Living

A development that is self-sufficient and consists of a commercial complex as large as Marq requires a lot of thought and research into the perfect design and structure of the development. At Assetz Marq the builders is using services of an Australian expert Mr Ross Bonthorne for the same. While reasons might vary, many things about the property make it hard not to make buyers want to invest in it. Here we list a few –

The first reason is its luxurious features. Marq has a central landscaped courtyard with leisure and recreational facilities. A double height lift lobby enveloped in lush green landscapes is provided to the residents as well as double-height weather protected reading corners and shared areas.

The second reason is space. Marq is designed in a way that ensures large balconies, airy bedrooms and spacious living areas. Each floor has 4 homes only, so as to ensure privacy and better views. Provisions to interchange the living and dining areas are in place and lobbies in bedrooms provide privacy from the living and dining area. Foyer at the entrance of each home offers further space and privacy.

The third reason is modern design. Assetz provides for an open modular kitchen in each home along with requirements for utilities and appliances. Balconies attached to every living room offer room for modern interiors and a stellar view. In larger units, master bedrooms have an additional sit out. Designer false ceiling, glazed external walls and designer tiles further add to the modern look of each home.

The fourth reason is the attention to safety features. Apart from technology that helps one ensure their child’s safety at all times, each high rise tower in Marq has two fire staircases, smoke detectors and fire fighting systems as well as a Helipad for emergency evacuations. Each low rise tower meanwhile is to have one fire staircase and fire fighting system. In order to avoid children from straying too far away, the ground level has open spaces for children to play right under their buildings. A 2.5 km jogging track skirting around the entire development through all the neighbourhood, keeps away from driveways. The driveways don’t cross residential spaces or the retail centre.

The fifth reason is comfort of living. This includes provisions for tutorials within the complex as well as provisions for easy bill payments, food ordering, table reservations, and contacting the security are all made from within the comfort of residents’ homes.

The sixth reason is amenities. Amenities add value to a home and Marq includes a centralised sports arena, space for walking, a jogging track, linear park can also doubles up as a picnic spot. Each clubhouse has a fully equipped gymnasium, indoor sports provisions, rooftop swimming pool with separate kids pool, community hall and more.

Check out Model Apartment here

Construction work at Marq commenced in January 2015 and phase I is expected to be complete and ready for possession by October 2017. The entire township is expected to be complete by the year 2022.

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Small Spaces to Smart Spaces

by The Assetz Team

Small. Cramped. Cluttered. These are synonyms of urban living. In this concrete jungle, turning small spaces into cosy homes can be a challenge. But with a bit of creativity and resourcefulness, you can make sure that you’re getting the best out of your new home.

Here are a few tips to transform those claustrophobic spaces into roomy and welcoming homes.

1) Lighten up

It’s a well-known fact that dark colours are slimming but try to avoid further slimming down by choosing lighter colours like white, cream, pale greys or blues to give a light and spacious feel to the room.

2) Mirror, mirror on the wall

mirrors are also the best way to reflect light and in turn make the room feel larger. Place them strategically behind an end table and make people believe that there is a whole other world tucked behind.

3) Declutter

The most important and beneficial tip if you live in a small space. Get rid of everything you haven’t used in a year because the chances are you would not need them at all. This will free up more space for things you need/use.

4) Transformers

The movie may have been great, but furniture that transforms is even better. Nowadays you have plenty of options that include multipurpose furniture to choose from. For example, an ottoman which can be used as a seater as well as storage unit. Or maybe furniture that can be wheeled away, folded or stacked when not in use, to give you that extra space.

5) Hide Out

Make good use of hidden storage spaces. Spaces under the bed, inside the ottoman, lofts, behind the mirrors, or wherever you can think of! This will give you added storage space and keep the clutter out of sight.

6) Angle it right

Avoid the mistake of pushing up your furniture up against the wall. This will give the room a cramped look. Leaving a few inches can make the space look more open. Giving your furniture some breathing space by placing your bed at an angle or floating the living room sofa which will give an appearance of more space.

 
7) Show off those legs

Avoid hiding the sofa’s or bed’s legs when you work with smaller spaces. Choose furniture that is raised as it creates a sense of light and space.

8) Let there be light

To create a sense of depth, avoid the dark and heavy drapes. Leave your windows uncovered. Along with bringing in fresh air, this trick also adds a sense of depth to your place. You can always try sheer white drapes to give your place privacy and also a bit of sophistication.

9) Play matchmaker

Matching your flooring colours to the walls and furniture will widen your impressions of space. Most importantly, choosing lighter colours will give an airier feel.

10) Art of Illusion

Lastly, creating the illusion of making your small space appear big, is an art. For example, to create the illusion of high ceilings, paint your ceiling with a bright colour that will pop, so that it will drive the eye upward. Or to make your room appear longer than it is, consider a stripped floor.

To wrap up, when dealing with small spaces, always remember to get rid of unwanted items and edit your patterns and possessions. Use hidden spaces and always find ways to brighten up your home. At the end of it, half the battle can be won just by thinking outside the box.

 

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Compact House: The New Way of Living

by The Assetz Team

The Indian economy is on a growth trajectory, and is expected to maintain the momentum for the next five years. One of the growth drivers of the economy is the young population; they are contributing significantly to the GDP by spurring demand in the core sectors. By the year 2020, it is estimated that 64 percent of our population will be in the working age group, making us the world’s youngest nation. These demographic dynamics have led to the emergence of ‘Generation Y Now’, which is directly impacting the housing sector.

The Gen Y includes working professionals between the age group of 25-34 years and the profile includes urban dwellers and married couples without kids. They are tech-savvy, hail from different cultural backgrounds, and are high-earning urban occupants, who may rewrite the established socio-economic norms. They are financially independent from an early stage; their priorities and aspirations are different from those who constitute the bulk of the existing home-buyer segment.

Today, some of the top aspirations of Gen Y include home-ownership. Surplus disposable income, ease of availing home loan and the importance given to personal space, have fuelled their dream of owning a home. That was not the case a few decades back. This generation’s need for a home is quite different from that of the previous generations. Their specifications are simple – a compact abode, which takes care of their requirements; a home that is located at a striking distance of all amenities and facilities, and more importantly, a residential unit that doesn’t go burden their wallets.

With this change in perception towards buying houses, a new segment has emerged in the residential homes category called “Compact Living”, especially in the metros and mini metros. Compact homes perfectly match the requirements, such as privacy and desire to own a home within the budget of the Gen Y. This trend has contributed to the dimensional changes to existing homes, as the demand for studio, 1 BHK and 1.5 BHK homes in metros are soaring.

In metros, single working professionals, especially are opting for either shared accommodation, apartments (2bhk and 3bhk) or paying guest facilities. Married couples tend to rent homes a little far away from their workplaces (because of the high rents in CBD and economic hubs). Investing in a compact house offers dual benefits – Firstly, they save on the rent being paid. Secondly, the new home is an investment instrument because of returns of 11%- 13.5% annually on account of appreciation of capital values of the property. The ROI will be useful when the property owner plans to buy a bigger house (in the latter part of his/her career/life). From an investment perspective too, it is a profitable proposition, as one can gain from the rental income 3.5% -5 % per annum.

Owning a compact house in the age group of 25—34 years is a well-thought out decision. Though it is still in a nascent stage, the demand for compact housing is growing. Currently, the demand is around 16,000 units per annum whereas only 1,200 units are available to address this segment. At present, this segment accounts for 2%-4% of the total residential absorption and is poised for growth.

In the last five to eight years, there has been a substantial increase in urban migration in India as the Gen Y is relocating to different cities in search of better job opportunities and livelihood. Being the hub of India’s IT/ITeS industry and the start-up capital of the country, Bengaluru has emerged as the preferred destination for many working youths. Consequently, Bengaluru tops the list for compact housing. Empirical evidence suggests that 8,350+ units (compact housing) have been launched in Bengaluru since 2009 and close to 80% of them have been sold out.

Within Bengaluru, areas like North Bengaluru, Whitefield, Sarjapura Road and Hosur Road are considered as suitable locations for compact housing projects. Their proximity to the city’s tech and economic hubs make them preferred locations considering the captive customer market. North Bengaluru has emerged as the clear winner, as the area has seen the launch of many Compact Housing projects in the last two years.

It is evident that the compact housing segment will grow bigger in the coming years. With more awareness about the product, its long-term benefits and better resale value, compact housing will emerge as a stronger segment. It has immense business potential and is expected to capture at least 25% of the entire addressable market (16,000 units) by the year 2020.