Gated community: Pros and cons of buying a house in one

[ecis2016.org] Gated communities provide residents with a sense of exclusivity. However, they are far more expensive than similar properties elsewhere and living in those will also be costlier

Across the world gated community living is ubiquitous. Gated community living is also quite common in India. If you have Hiranandani Estate in Mumbai as a gated community, you have its equivalent in Gurugram with DLF’s Westend Heights. If you have Hargobind Enclave in New Delhi as a gated community, you have Sunny Brooks Community in Bengaluru.  In Hyderabad, while you have Boulder Hills as a gated community; there is Marvel Aurum in Pune.

You are reading: Gated community: Pros and cons of buying a house in one

Gated community: The phenomenon

Different from regular communities, these walled residential complexes with manned entrances promise higher security to an exclusive community, thus earning the name gates communities.

That gated communities have become a world-wide phenomenon – India included – is a common knowledge.  The opinion, however, is divided on why these walled estates promising exclusivity and higher security continue to lure home buyers globally, especially in countries like India, where with vast population, affordability plays the most crucial role in property purchase decisions.

What is a gated community?

Gated communities provide residents with a sense of exclusivity—with all those superior amenities accessible within an enclosed space which are out of bounds for the outsiders.  To the human mind, the idea that they are in the company of their own ‘type’ and ‘status’ is quite gratifying, too—only a certain category of buyers are allowed to purchase homes in gated communities; not to mention, the buyers in a gated community would have to meet the ‘able-to-afford criteria’ also.

Wikipedia defines a gated community as ‘a form of residential community or housing estate containing strictly controlled entrances for pedestrians, bicycles, and automobiles, and often characterised by a closed perimeter of walls and fences.’

The irony is our respect for such exclusivity doesn’t inspire us to go as far as picking an independent house altogether, even if there are cost-related advantages in choosing that option. As humans, we feel safer in the company of other humans, especially if another wall happens to guard our four walls.

Gated communities in India

Read also : Proposal to expand Delhi Metro up to Kundli prepared: Haryana CM

“Gated communities are a self-designed arrangement that residents’ welfare associations come up with, to safeguard independent house in their area. These are more prevalent in north and south Indian cities, where the ‘bungalow culture’ has been traditionally active and preferred,” says Abhineet Seth, CEO, Adodekraftz.

“Buyers’ preference for independent plots in Delhi and Haryana, gave birth to what are known as the ‘builder floors’ in freehold zones. Subsequently, RWAs were formed and they started making arrangements for security and other community-level services through contributory charges,” adds Seth.

What amenities could you expect in a gated community?

Apart from security personnel guarding the entrance round the clock, gated communities boast amenities such as club houses, swimming pools, community halls, play grounds, sports club, etc.  One will have power back-up and parking facilities if they are a member.

Even though any regular housing project will have the similar amenities, there is always a difference in quality and standard of amenities in gated communities. A more premium gated community on the other hand will have on the premises high-end restaurants, cafes, shopping complexes, children’s play area, spa, clinics, etc. An even more premium gated community would offer you valet parking, private swimming pools and personal elevators, among others.

Since they are exclusive and a great deal of fuss is made about their upkeep, amenities in gates communities are highly well maintained as well.

What is the price range in gated communities in India?

As is expected, homes in gated communities are priced higher than regular homes because of the safety and exclusivity factor they provide. However, the prices vary depending on the location, the facilities and developer brand.  In big Indian cities, the price range for units in gated communities start from Rs 75 lakhs and goes up to several crores (up to Rs 20 crores). Remember, more the facilities, the higher the price tag.

For instance, a resale unit at Hiranandani Estate can cost Rs 1.80 crore and at Sunny Brooks Community in Bengaluru, the resale price is Rs 1.10 crore.

Pros and cons of buying a house in gated community

Read also : Stamp duty and registration charges in Bhopal

Advantages of living in a gated community

Let’s dwell on the positives of investing in a unit within a gated community. Not only would you socialise with people with similar social status but also be the owner of a property which wouldn’t lose its sheen because of the impeccable maintenance year after year. If you were to sell this property, it would fetch a good return on investment. This also has to do with the fact that only a certain number of units would be up for sale in this exclusive community.

“From an investment perspective gated communities are a good option, as most of these zones are located in premium areas. The building quality of homes in gated communities is also better since they are individually operated,” says Seth.

Those who plan to live in their homes for the rest of their lives would find the amenities actually quite convenient. For instance, one need not look for places outside to host their kid’s birthday party or any other family event. Since everyone in the community has to maintain a certain standard, construction-wise, the aesthetic beauty of the space is never out of place. This is something that happens in a typical neighbourhood, where every individual chooses his own sense of style, ultimately killing even the slightest chance the area might have had at maintaining any aesthetic appeal.

Disadvantages of living in a gated community

We all know buying a home in a gated community would be more expensive but living in those is also going to be costlier. Gated communities keep their sheen on through regular maintenance and offer security on expensive safety upkeep. This ultimately costs the homeowners. Your monthly expense of that account is much higher than someone who lives in an independent property. If you were to buy such a property, it is of utmost importance to personally examine the arrangements made to maintain both these aspects of the gated community.

Then, there could be several other little inconveniences. Your visitors would have to get your permission to enter the premises and might also be asked to park their vehicles outside. Surely this is for the higher purpose of maintaining security, but this could amount to a regular hassle for them and you. Also, you would be troubled if you have hired workmen to get a job done at your home. There are specific gates by which entry and exit are allowed, only in certain hours within a day. In India, where work contractors are often hired for construction-related works, this type of time constraint pose major challenges in getting the job done. All in and out movements of residents are also tracked, which would cause inconvenience every day.

You would also have a location disadvantage if your house falls close to the community walls as noises and disturbances would continue to enter your four walls all day long.

FAQs

Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org

Source: https://ecis2016.org
Category: Lifestyle