[ecis2016.org] Here is your complete guide to understand builder floor houses in India.
Builder floors are the best housing options for home buyers and investors who consider their privacy to be supreme. Many home buyers in New Delhi prefer builder floors compared to apartment flats. Before discussing the merits and demerits of builder floors as a residential option, we need to first gather clarity about builder floors.
You are reading: What is a builder floor?
What is builder floor?
In areas that allow only low-rise buildings (often limited to four storeys), property developers often sell each floor of the building to different owners. These private residences are known as builder floors. Buying and maintaining a building having several floors would be quite expensive for a home buyer. Further, there is absolutely no reason to have such a large property for nuclear families in big cities, as maintaining them would require a lot of money and effort.
Builder floors have commonly come up in big yet comparatively old cities like Delhi, Chennai and Hyderabad, where space constraints and monetary repercussions do not allow buyers easy access to bungalows or independent villas. The availability of builder floors in these cities means that buyers do not have to buy apartment flats in housing projects where a large number of residents occupy the same floor.
A builder floor basically works as a middle path between independent bungalows and flats – it does not cost as much as bungalows, nor is it as expensive to maintain. Unlike flats or apartments, builder floors offer more privacy and freedom.
Number of floors in builder floors
In a builder floor, the number of floors does not exceed four storeys. This means five families can occupy builder floors in a building. The number could be as less as two builder floors.
Who develops builder floors?
Builder floors are developed either by small developers, or land and property owners. Landlords who are of the view that their low-rise prime properties are under-utilised can also expand their housing units through renovation and reconstruction to create builder floors.
Builder floor amenities
In a bungalow, you have access to those facilities which you have built, and you pay for each one of those. In an apartment complex, the buyer has access to number of in-house facilities like clubs, swimming pools, jogging tracks, parks, gymnasiums, auditoriums, etc. In terms of amenities, builder floors are more like independent bungalows. Apart from utilities like power and water supply, builder floors do not have other amenities.
Read also : Types of property ownership in India
Further, builder floors are better constructed than flats as they are spread in a big area. They have better access to sunlight, and ventilation.
Builder floor advantages
Builder floors have several advantages for buyers. These include:
Large houses at lower prices: Even though private residences are large, they are costly.
Option to stay in city centres: Housing complexes are generally located towards the city peripheries. Those looking for houses in centre of the city like Delhi, Hyderabad and Chennai often go for builder floors to stay close to the main location.
More room for privacy: Low number of occupants means more privacy for each occupant.
Freedom to make big decisions: Unlike large housing societies where it is required to take approval from many people to take decisions, residents of builder floors enjoy more freedom in decision making. This is because of low number of people.
More resale value: The resale value of a builder floor is often higher than flats because it comes in the lower price range. Moreover, demand for residence in the central area of a city remains high.
Separate maintenance facilities: Each floor in a builder floor has a separate water and electricity connection. It means residents on a floor don’t have to share such facilities with other residents on other floors. So, no scope for any misunderstanding in terms of utility usage and bill payment liabilities.
Builder floor disadvantages
Read also : Vatika Turning Point at Sector 88 B, Gurugram – Project Overview
Limited amenities: Builder floors only have basic facilities. On that parameter, they score much lower than flats and apartments.
No RERA purview: There ought to be at least eight units in a residential complex for it to fall under the purview of the real estate law. This is typically not the case with builder floors. They don’t fall under the ambit of the buyer-centric law. In case of any dispute with the owner or developer, you will have to seek remedy using other platforms.
Poor maintenance: In housing societies with large number of members, the amount of funds collected for maintenance is high. This means better maintenance for the housing units and other structure. The same can’t be said about builder floors, where residents are responsible for cleanliness and maintenance of their floors and often neglect the overall building.
No brands available: Small-time builders or property owners are responsible for constructing builder floors. This is not a preferred building construction option for real estate developers. This means no builder floors are being developed by any reputed or big developers.
Builder floor price range
Builder floors are acknowledged as an affordable housing option that satisfy their owners by giving them a sense of independence. Hence, they are sometimes costlier than flats and apartments. However, the price of a builder floor depends on the area where it is being constructed. In Delhi, a builder floor can be purchased between Rs 50 and Rs 75 lakh in lower to mid-segment range. However, their rates are higher in prime locations. You may have to spend several crores to buy them in prime locations.
Cities known for builder floors
Builder floors are quite popular in Delhi National Capital Region. This includes Delhi, Ghaziabad, Gurgaon, Noida, and Faridabad. Builder floors are also popular in southern cities like Chennai and Hyderabad. In Mumbai where space is limited and comes in premium category, there is no concept of builder floors.
Experts are of the opinion that demand for builder floors is likely to go up in cities where it is already a popular concept post the Coronavirus pandemic. Now more people would prefer an independent living space rather than shared living offered by housing societies and apartments.
FAQs
How much does it cost to buy builder floors in Delhi?
Depending on the location, builder floors may cost you anywhere between Rs 40 lakh to several crores. In areas like Lakshmi Nagar, for instance, you may get a builder floor for Rs 40-50 lakhs. But a builder floor will cost you more in areas like Ramesh Nagar and Punjabi Bagh in Delhi.
Do builder floors cost more than flats?
Builder floors sometimes cost lower than flats because the number of amenities in the former are much lower than the latter.
Source: https://ecis2016.org/.
Copyright belongs to: ecis2016.org
Source: https://ecis2016.org
Category: Lifestyle
