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Rent service apartments from builders instead of hospitality firms soon

Rent service apartments from builders instead of hospitality firms soon

If you hate to stay at hotels during your visits to the city, here's good news.

Builders are planning to construct more than 1,000 service apartments within a year in areas such as Lower Parel, Colaba, Cuffe Parade and Goregaon, which are close to the city's business centres, said real estate sources.

Mumbai's service apartments are now being run by private hospitality companies. Bro-kers, tour operators and web sites help visitors find them.

Cheaper than hotels

Sunil Mantri, owner, Sunil Mantri Realty and president-elect, Maharashtra Chambers of Housing and Industry, said, "There is a huge demand for service apartments as they are a good alternative to hotels.

Dyu D'Cunha stayed in a 1BHK service apartment at Bandra.u00a0A service apartment at Cuffe Parade.

Our target customers are tourists who come to the city with their families and business visitors. Depending on the product and the area, they can get a house at a rate 30 per cent cheaper than a hotel room."

Added another builder, "People who live far away from their workplace and are unable to go home for some reason will also find this convenient and affordable."

Dyu D'Cunha (30) who stayed in a 1 BHK service apartment at Bandra for Rs 4,500 per night, said, "I prefer it because it offers me more space and is cheaper than a hotel room."

Shweta S, whose job demands frequent travel, agreed, "A service apartment feels like home. Its kitchen is sufficient to make tea and coffee."

What's In Store

A person earning below u00a0Rs 8,000 per month falls in the Economically Weaker Section (EWS). u00a0 The LIG segment consists of people earning Rs 8,001 to Rs 12,000. The MIG segment consists of people who earn from Rs 12,001 to Rs 20,000. The HIG is for those who earn over Rs 20,001.