With a plethora of real estate property options available in the market today, young home buyers are spoilt for choice. Real estate investment is attracting a major pool of millennial to invest in the properties. But where to invest in?
Affordable housing projects, premium and luxe villas, multi-storey apartments or a builder’s floor? All these options can put you in a great pandemonium. In this customer driven industry, real estate developers are closely monitoring the needs and demands of the customers so that they can fulfil their demands.
A report published in one of India’s leading newspapers “The Hindu” states that about 60% of first time home buyers prefer multi-storey apartments over an independent builder floor. To understand the whole scenarios, we have to go step by step. Let us discuss these 2 types of properties individually.
What is a Builder Floor?
A builder floor apartments are generally referred to low-rise buildings with 2-4 floors and each floor has provision for an independent dwelling unit. This provision overtakes the requirement for independent villas or bungalows.
An individual residing in a builder floor gets a lot of privacy and the real estate property is regarded as a luxury. But there are a few problems and risks associated with builder floor. You get to live a premium society but the high maintenance charge has to be managed by the home owner.
The real estate developer will not be paying for the maintenance. Apart from that shared and common amenities will be missing in such residential complexes. Carry out an extensive research and thorough planning before you invest in a builder apartment.
What is a Multi-Storey Apartment?
A multi-Storey apartment is the typical residential apartment that we usually come across. One floor can be shared by 2 families or so. The best part of this apartment is that it is affordable. After PMAY initiative, many reputed real estate developers have started their projects under affordable housing scheme.
OSB Group is known for delivering high-quality affordable housing projects across the country and has recently launched OSB Golf Heights in Sector 69 Gurgaon which is the best affordable housing in Gurgaon.
Multi-storey apartments have many advantages such as availability of a lot of essential amenities, conveniences for the ease of the residents. Millennials prefer a gated community life and that’s what is provided in multi-storey apartments.
If you have to choose between these two options, a multi-storey apartment should be the one on any given day due to all the facilities that come along with the home. Builder floors are often a middle path followed by individuals who find villas and bungalows expensive and who doesn’t want to live in tall buildings.
But multi-storey apartments are quite feasible in the real estate market of Gurgaon, Mumbai, Chennai, Bengaluru, etc., In addition to this, if you choose to go with a multi-storey apartment, you will find a large number of options to choose from. And apartments have always more chances of a resale as compared to a builder’s floor.