These Tips Will Help You Make Smart Investment In A High-Rise
With the growing demand for homes, the real estate developers in India are constructing projects that are high-rise to accommodate more people in a limited coverage area. The high-rise buildings offer both affordable as well as luxury apartments depending on the size and amenities offered by the developer, along with the project location.
So, if your one the many home buyers planning to invest in high-rise apartment in India, this PropGuide's list of tips will help you make a smart investment:
Ensure these before you investing
There are many documents and/or certificates that a developer has to acquire in order to develop a high-rise building. These include the approved site plan and drawings, certificates for sewerage clearance, traffic clearance, occupancy and completion, among many others, from the different authorities. Do make sure the developer has all the clearances and approvals.High-rise buildings in seismically-active areas or with geo-technically risky soil should have an earthquake-resistant structural design. This can be verified through the building's Structural Stability certificate.Before making a decision, ensure all the amenities and specifications promised by the developer have been met. Since water supply is a prevalent issue, do check for availability of drinking water.Ensure that the building has proper provisions for emergency evacuation and fire outbreaks.Read this before you choose a floor
When buying an apartment in high-rise building, one of the most common issue is choosing the right floor. However, you can easily make up your mind once you know the pros and cons of the different levels.
Top floors - Experts believe that living in top floors of a high-rise guarantees privacy as well as security. The apartments in top floors have better ventilation, view, and lighting than the floors below. Moreover, from a financial point of view these apartments show faster capital appreciation. However, these apartments also cost more and have high energy costs too.Middle floors - These floors can be the safest bet as these share the pros of the floors above and below, sans most of the cons. For instance, in case of emergency, the dwellers of middle floors can still take the staircase with no hassles and also the temperatures during summers will not be too high as well, given that there are floors above it.Ground floors - Those on the lower floors have limited access to ventilation and natural lighting. These floors are also prone to pests due to the accessibility. Dwellers here should take necessary precautions. The ground floors are likely to use the air-conditioner heavily during summers as the dampness and latent heat is higher when you are close to the ground. However, this usage is not as much as that by the top floor dwellers. Before investing in ground floor look if there are any signs of flaws in the sanitary and water mechanism of the building to avoid water seepage in future.