A floor called home
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The boom in real estate fuelled by rising incomes and easy access to home loans has brought about new and innovative options in residential units. Luxury and lifestyle demands have seen the emergence of elegant builder floors as the preferred choice among many upwardly mobile home buyers.
This concept of building a three- or four-storey building over a small- or medium-sized residential plot and selling each floor is gaining rapid popularity in metros as well as tier-II cities.
Builder floors can be developed either by an established builder, an individual land owner or as joint venture between both parties.
Builder Floor vs High Rise
There are several differences in the basic considerations of builder floors as compared to high rise apartments.
* In builder floors only a single dwelling unit is provided per floor which implies that a single family has the entire floor to itself providing greater privacy. The high rises have a number of apartments on a single floor.
* The cost of builder floors are inherently higher as only one buyer occupies a whole floor.
* The high rise residential complexes cater to the average middle class who require a budget housing solution with a ready to move in option.
* Economically speaking, the apartments in high rise buildings are much more efficient in terms of cost as well as utilisation of available space.
* High rise complexes with more number of units will generally have more common amenities such as swimming pools, community halls, club houses and children's parks.
* The social life is also more inclusive in case of the high rise apartments as more families reside in the same building.
The USP of builder floors is that it allows one to own an independent dwelling unit without having to pay hefty amounts required for independent villas or bungalows.
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