Is it worth buying studio or 1 BHK apartment in India?

Let me start with my own story, my own dilemma, things I discovered followed by data driven research. Couple of years back, I was searching for a studio apartment, because it’s compact (neither small enough to become claustrophobia, nor spacious enough to feel extraneous) in size and generally located within commercial space, hence better connectivity and social infrastructure. These were the primary reasons why I was searching for studio apartments.

I consulted various friends and relatives, wherein I was told, studio apartments are generally expensive in terms of cost per square feet, the demand for studio apartments is less, since most people prefer 2 or 3BHK apartments for their complete family and due to this lack of demand the probability of price appreciation would have been lesser, I ended up buying a 2BHK unit. I had little to no knowledge of real estate back then, let us review whatever decision I made. Was it correct or incorrect, is it worth buying a studio or 1 BHK apartment?

Lets understand what makes more sense in terms of real world data, instead of grapevine or hearsay:

In Greater Noida West, the property we compared is 2BHK area 855 sq. Ft priced at 35 lacs & Studio with area 530 sq. Ft @14th Avenue, Gaur City 2.

In Greater Noida (Pari Chowk), the property we compared is 2BHK area 841 sq. Ft priced at 40 lacs & Studio with area 595 sq. Ft priced at Rs. 35 lacs @ SDS NRI Residency NRI City Greater Noida.

In Yamuna Expressway, the property we compared is Gaur Yamuna City, 16th Parkview 2BHK area 1076 sq. Ft priced at 36 lacs & Studio with area 460 sq. Ft priced at Rs. 25 lacs Gaurs Runway Suites, can’t compare the rental yield since it’s an under construction property.

From comparing Studio vs 2BHK across various micro markets of Delhi NCR, we can safely say that studio apartments do not make sense either in terms of price appreciation or rental yield. The price per square feet in the case of a studio apartment is much higher in comparison to 2BHK in the same society or within 1kms of each other. Similarly the rental yield of a studio is much lower in comparison to a 2BHK unit in the same project or a nearby project. 

Based on the above data, I can safely say the decision I took without much real estate knowledge was correct, now, while looking at any property instead of just looking at the total price consider looking at the property based on the cost per square foot, there could be a possibility, the cost of studio apartments in absolute number is always lesser however when you compare it in terms of cost per square feet you will realize it much steep in comparison to the 2BHK sibling (pun intended).