Space-Starved Mumbai To Offer Really Small Homes

From small to nano, if you were to summarise some of the upcoming properties in Mumbai, perhaps this is how you would put it. The island city is home to about 2 crore people and lakhs of people add to its population every year. Both intra-state and inter-state are sizeable and keeping in sync with this high demand for housing, developers have their ear to the ground. This is why smaller homes are making an entry. We are talking about micro-homes.

What are micro-homes?

Now, it may not be difficult to come across a residence as small as a hotel room. In the size range of 189 sq ft to 320 sq ft (with slight variation) , many projects in Mumbai are offering an ‘affordable’ option in Mumbai’s coveted areas such as Kandivili, Malad and Chembur. This is becoming increasingly popular among working professionals and those who cannot go overboard with their savings on a house purchase.

However, it is interesting to note that, many of these homebuyers in Mumbai have prioritised location over space. Reports suggest that they may have been leaving their homes in less popular areas of Mumbai and while they are ready to compromise on the space.

Do note that while we call these homes ‘affordable’, in the real sense they may not be so. The smallest of these homes in Mumbai cost its buyers over Rs 50 lakh while the semi-furnished ones went up to Rs 60 lakh and more.

The benefits include being able to use all the other shared amenities in the housing project such as an in-house gym, parks and sports ground, common lawns, joggers track, round the clock security etc. For many the space-lessness doesn’t bother much because the accompanying benefits are in plenty beside being in the prime of locations.

So how do homebuyers manage with space as small as 300 sq ft? Most small families or single professionals prefer this arrangement. The furnishing in such homes include space-saving designs, foldable beds, makeshift furnishing etc. Many reputed players have come up with this idea of convertible apartments and they do fairly well especially in countries like the United States where cost of living and housing is typically high. For Indians, small homes may not be altogether new but compact homes are the answer to affordability in a city like Mumbai.

The trend may not be absolutely new either. In Mumbai’s peripheries and across Maharashtra, the concept of ‘1RK’ is not surprising. RK here stands for room-kitchen and is different from most other small homes that are 1BHK. RK’s are utility based while prioritising on the cost involved and therefore they give a miss to the ‘hall’ in the home.  However, these homes may be affordable given their location and the target audience who are looking at pocket-friendly options. For nano homes or micro homes in Mumbai’s heart, definitely, its location over space.