There is a steady and inflexible demand for studio apartments, both in the metros and tier 2 cities. These apartments are usually the first to be sold out in a residential project that features them.
The concept of homes for aged has undergone a sea-change, with the name itself now being senior living or assisted living. The services offered include fulfilling the social, security, healthcare, administrative, food and other requirements – including understanding what the requirements of a 60-year-old person are as against those of a 70-year-old.
Most people do not ask for relevant statistics or a comparative analysis of real estate against other asset classes. Nobody denies that hope, faith and belief are our ultimate assets, but investment into assets such as gold, silver, real estate, equity, bonds and mutual funds should be done with the head as well as the heart.
As has been the case in the past, the larger cities of Mumbai and NCR-Delhi recorded healthy absorption of residential units during 2012, with a 60% contribution to the overall absorption. Chennai and Pune were among the other two cities that increased their share of absorption during 2012 to 26% from the 23% recorded a year ago.
In terms of residential property value, Keshavnagar in Pune’s Mundhwa area benefits from its advantageous proximity to Koregaon Park, of which Mundhwa is now considered an extension. It is one the increasingly rare locations where purchasing a budget home in a strategic location in Pune is still possible.