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The pandemic saw many alterations in buyers’ needs in the housing sector. The civic body reduced the premiums on properties during the pandemic to stabilize the real estate sector. This also brought buyers to realize the need for large homes.
With redevelopment and new launches offering premium homes in Mumbai, buyers have shown keen interest in larger homes, with open spaces, amenities, and balconies. Some residential projects have provided Jodi flats in the complex to serve the purpose of such requirements from buyers.
Although the idea of Jodi flats is not new, the concept is now trending because of the conscious upgrade t larger homes by families, post the pandemic.
What is a Jodi flat?
A Jodi flat is an amalgamation of two or more apartments by removing the separation wall between them. This allows buyers to utilize the space as per their requirements. E.g., instead of two kitchens or two living rooms, it would be converted into a utility room or a bedroom.
What is the benefit of a Jodi flat?
• A larger home with the flexibility to expand and utilize space with enhanced privacy.
• Purchasing two small units, in an elite neighbourhood, can be a profitable investment.
• Customisation as per the needs of the family.
A flexible plan can help build the home as per the unique needs of the family like more master bedrooms / one large cooking area etc.
• While the possibility of decorating and design are obvious, the most significant feature is the tax benefit. As per the Income-Tax Appellate Tribunal, when a taxpayer invests “in multiple flats that are joined together and used as one single residential unit” they can claim “investment-linked tax benefits.”
• With large homes in upcoming or a good neighbourhood, the apartment will appreciate in value with time. This becomes an investment