With every third Indian now living in the urban spaces, India is considered to have an ever-increasing urbanised lifestyle which continues to inspire even millions more to make it to the cities. The Mumbai Metropolitan Region alone hosts around 24 million residents and shares title of 'one of the most densely populated regions' with cities like Karachi, Jakarta, Shanghai and Tokyo! The population outbreak results in soaring realty prices and quite 'unaffordable' housing for the masses. Already Mumbai is known to offer comparatively smaller houses as compared to Delhi, the trend now is to further cut the size short.
The new micro-housing, which is also known as studio apartments or nuclear houses, is a trend copied from cities like Hong Kong and Tokyo, where the capitalistic markets make the land unimaginably pricey since it is limited. Studio houses essentially break down the conventional make-up of an apartment. The idea suggests that a typical unit would have one single living room (with convertible sleeping options) with a tiny kitchenette and compact bathroom. These housing units focus on maximising the use of space to the optimum level. With a tight aim of building a unit within a range of 150-250 sq. ft. as per the trends in Mumbai, these houses seek interests of single-dwellers or a couple.
Mumbai has a median per sq. ft. price of about ₹30,000 in suburban areas, which could go up to ₹50,000 in key localities. Whilst buying a 'moderately' spacious 1BHK flat of 400 sq. ft. could cost about ₹1,20,00,000, a studio apartment of approx. 150 sq. ft. would cost ₹45,00,000. This steep difference in price would enable many first-time homebuyers to avail the opportunity to get their feet on the property ladder. Several studies suggest from the precincts of the East Asian megalopolises; a compact house is encouraging instead of being otherwise as it gives a sense of ownership to a person with lesser purchasing power.
Compact houses bring a lot more bounty than just the pride of ownership. These houses require minimal maintenance, lesser articles to beautify them and a much lesser energy to run as compared to the other kind. Sustainable practices are vividly practicable, one would require less water, electricity, and gas; could host a compost for organic waste, could de-curtain the windows to let ample of lights entering the personal space. The Indian Green Building Council's guidelines dictate a thorough fresh-air passage, especially in a compact studio setting, which comes a plus. It is expected to feature a high ceiling and a tall window, usually.
The Pradhan Mantri Awas Yojana (PMAY) also has a favourable spot for micro-housing. The loan subsidies would reach a larger target group if the ticket-size per unit is low. Although there are no special provisions for availing benefits specifically to studio houses, the impact of benefit increases exponentially whilst availing such benefits in such cases. Around the world, the millennial population is concerned with sky-rocketing prices and their ability to afford one. These micro houses might be a comparatively better solution for the rent-it-all millennials in cities like Mumbai.