Builder floor vs apartments
In the present day’s context, innovative options both in loan offerings and various residential units seem to be the requirements of the hour.
Such innovative and fresh options within the residential units have been brought about by the real estate boom which was being driven by the combination of ever increasing individual incomes with easy access to home loans. Lifestyle and luxury demand has witnessed the emergence of elegantly built builder floors as the preferred choice among several upwardly mobile Indians.
This concept of selling each of the floors of a three or four level high building which has been constructed over a small or medium sized residential plot is rapidly gaining popularity within metros and tier II cities across the country, alike. Either established builder or builders or individual land owners or both the parties as a joint venture can develop builder floors.
Basic Differences between High Rise Apartments and Builder Floors:
There are numerous differences within the basic considerations of apartment units in high rise as compared to buildings builder floors. Depending upon the project clearances, high rise residential projects may have a lot of floors whereas low rise buildings generally consisting of four floors or less are called as Builder floors.
One of the major advantages of a builder floor is the greater amount of privacy that it offers. This happens as a single dwelling unit per floor is generally provided; with the implication that only a single family occupies the entire floor. On the other hand, high rise projects usually have a number of 2, 3 or 4 BHK apartments units located on a single floor which implies that multiple families would be sharing the same floor.
The high rise residential projects cater to the average middle class population seeking budget housing solution along with a ready-to-move-in option. Since, builder floors cater to high end customers who desire the benefits of better amenities along with privacy the cost of such projects are inherently higher.
High rise complexes consisting more number of units would generally proffer more common amenities like community halls, swimming pools, children’s park and club houses. In strictly economic terms, apartment units within high rise buildings are exceedingly proficient in terms of cost and utilization of the available space.
Social life too is distinctly inclusive in the case of high rise apartment units, as multiple families reside within the same building.
Crucial advantages of builder floors :
The ultimate selling point of builder floors is that it permits the owners to enjoy an independent dwelling unit at affordable prices when compared to the prices commanded by villa or bungalow projects.
It is this same difference between the prices of an independent villa from that of the builder floor which makes the latter a more lucrative option for those desiring an improved lifestyle at limited costs.
Along with the luxury of space and the privacy offered by an entire floor is the freedom from paying maintenance fees and other such charges which are generally applicable in high rise apartments.
Partnering up with independent house or land owners for the development of builder floor works out to be a great deal for buyers.
It supplies like-minded people/relatives/family and friends to get together and buy all the floors so as to have a separate community which would not be disturbed by outsiders, as is the case within high rise buildings.
Additionally, builder floors proffer the buyer the freedom to choose from among the more developed localities of the city.
Each floor is constructed with its separate water as well as electricity connection which work towards avoiding misunderstandings or disputes which are common in larger communities where floors are shared by many families.
Furthermore, the expected returns from the sale of builder floors can be much higher in terms of sheer percentages as the complete floor would be getting disposed in a single transaction, as well as a higher amount of premium can be charged as the property would bestow independence along with luxury to the new owners.
