SATURDAY, 23 JULY 2022 / Pros and Cons of Purchasing a Builder Floor
Pros and Cons of Purchasing a Builder Floor
Property trends in India show an increasing preference for Builder Floor residential buildings. In cities like Mumbai, Hyderabad, Delhi, Pune, etc. the trend for independent builder floors is catching up with people’s imagination. Builder Floor apartment buildings offer the privacy and independence that people want instead of living in huge societies and tall skyscrapers where you don’t get enough privacy. But before you invest in a builder floor there are some things to consider.
What are Builder Floors?
Builder floors are found in low-rise buildings where there are two to four floors. The occupant is given the entire floor as his residential space. Thus each floor is not divided into apartments like in many residential buildings found in urban areas. Builder floors are built by the builder with the help of the land owner.
Features of a Builder Floor
One can easily identify a builder floor building with its distinct characteristics.
- The builder floor is also called an independent floor apartment.
- There is a limited number of floors and they are generally between 2 to 4.
- There is more space and freedom than in regular apartments.
Pros of Builder Floor Apartment
- The buyer can purchase a private residential property without investing in a bungalow or villa.
- Each builder floor apartment has separate water and electricity connections and no one is dependent on the other owners.
- Maintenance fees are considerably less.
- The resale value of builder floor apartments in Tier-1 and Tier-2 cities is more.
Cons of Builder Floor Apartment
- Builder floor apartments do not have amenities such as gymnasiums, gardens, swimming pools, clubhouse, etc.
- There is no one to take care of maintenance, water and electricity issues, etc.
- Construction can be poor.
There may be a difference between a property that is promised and delivered.
Is it best to invest in a Builder Floor apartment?
Yes. It is safe to invest in a Builder Floor apartment. The property papers should be clear and legal and should satisfy property laws.
What is the process of purchasing a builder floor in Delhi?
The process of purchasing a builder floor apartment is similar to the process involved in purchasing a regular apartment flat. Buyer and seller have to register the agreement in the sub-registrar’s office and pay the mandatory government taxes.
Are builder floor apartments cheaper than regular apartments?
Yes. They can be cheaper than regular flats.
Builder floor apartments are getting increasingly popular in many Indian cities like Delhi. Grovy has a large number of projects that involve builder floor construction.
Grovy India is building projects in affluent and posh South Delhi locations. They have undertaken many real estate property construction works since 2014 and continue to do so even today with the same quality.
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