Skip to main content

High Rise Apartments - What should you buy and why?

High rise apartments are need of hour as the land prices are increasing and it is not possible to find something affordable within city limit as independent home. Not only due to affordable price tag, buyers also buy high rise apartments in hope of living in larger community. But many times such hopes are crashed when the amenities become inaccessible due to larger chunk of people waiting to avail them at the same time. Also the alienation may occur due to large number of people living in there will deprive one of establishing an identity and relationship with residents. So if affordable luxury is what you want then how bigger apartment you choose?



Benefits:
  1. Affordability - Construction cost comes down for high rise as the significant cost of land is shared by larger number. But the cost will increase if you go beyond 12 floors, building would either have to be a steel frame building or be of massive reinforced concrete construction. The higher you go, the higher the cost per square foot.
  2. Location -Most high-rise apartments are located near the center of the city, which may  provide a better commute to work.
  3. Community - Living in the right high rise can provide a real sense of community.  Many large buildings host regular resident events or fitness classes that let you get to know your neighbours.
  4. Amenities - Most high-rise apartments also include a variety of amenities, including laundry services, pools, convenience stores and even small grocery stores located within the building itself.
  5. Support - High-rise apartments usually have live-in supervisors, doormen and concierges who can meet your needs at any hour of the day.
Drawbacks:
  1. Personal Privacy - High-rise apartments will have more people, for people who like privacy, this can be a disadvantage. 
  2. Higher Cost - With the luxurious amenities and superior location, high-rise apartments are harder to find, and they tend to be more expensive. 
  3. Inconvenient - When you live in a high-rise apartment, it takes more time to get to the street, it could be an issue to drive more than a Km just to go in and out of apartment.
  4. Private Space - Private outdoor space is limited or nonexistent as lot of people tend to use it and it comes a public place.
  5. Higher Maintenance - High rise apartments beyond 12 floors cost much more to maintain. Also you need to employ specific labor which is trained to follow stricter safety guidelines.
Conclusion
  • High rise apartments are good if they are below 12 floors to give you cost benefit in terms of purchase and maintenance. 
  • You should look at optimum size of less than 500 residents to give you enough personal privacy. 
  • The open area of the apartment should have at least one mid size green area per 100 people to provide you enough private space. 
  • You should look at options to buy apartments which come with professional maintenance and support to provide 24hrs availability.
CMRS Group makes optimum size apartments at premium location with floors varying from 5 to 10, to provide you best of location, community, amenities and support. You can choose CMRS Mulberry Mist, which is 9 floors with all clearances and approvals, conveniently located at Varthur with 295 apartments.

For any property advice, free legal advice and any other assistance while buying a property, feel free to call at  +91-7676-122-000 or send an mail to info@cmrsproperties.com
Labels:

Popular posts from this blog

Buy or Rent, What should you do?

The choice between buying a home and renting one is among the biggest financial decisions that many people in bigger cities need to make. But the costs of buying a home scares many people off when they compare the EMI with their current salary. It may not be always true as with the tax benefits your effective in hand salary increases and your balance salary after EMI instead of rent does not reduce much. Also the decision to buy becomes easier if you choose to buy from CMRS Group, which offers CMRS Royal Orchid, luxury smart, green homes starting from 33 lacs and give the possession to you in little more than a year.



Buying Cost
Initial costsare the costs you incur when you go to the closing for the home you are purchasing. This includes the down payment and other fees.Recurring costsare expenses you will have to pay monthly or yearly in owning your home. These include EMI payments, maintenance and renovation costs, property taxes and homeowner’s insurance. Property taxes, the interest …
Read more

Row Villas are a New Fashion in Bangalore Realty?

Villas continue to be a dream home for many, but they remain pricey at good locations. People choose to buy high end apartments instead, but Bangaloreans are queuing up to buy Row Villas which are located at premium locations and costs the same or lesser than high end apartments.  For example, CMRS Couryard (http://cmrsproperties.com/views/courtyard.html), located at Varthur main market near Forum Value Mall is a big hit among buyers. 

Row houses Properties come in the category of urban homes, which are located in the same area and are coherent with each other in architecture, design, and appearance. Row villas are premium segment of row houses. The row houses segment, though less in the overall market size, saw the highest increase in sales velocity in Bangalore with a rise of 23 per cent and only 9.4 months inventory. A clear indication of the growing demand for this type of property.
Advantages of Row Villas: Costs less than villas with private gardens providing the higher luxury for p…
Read more

Occupation Certificate (OC), the Hot Item which is rarely SERVED by Builders

Do you know the BDA had sanctioned the building plan and issued CC and OC for Mantri Tranquil project, but BESCOM disconnected the electricity finding the violations?

The reason, the BDA ignored the fact that the project was within BBMP limits and that the two blocks of the Mantri Tranquil were built on the storm water drain! The fact remains that the property buyers don't know the importance and meaning of occupation certificate in its true sense. This information asymmetry allows a builder to take customers for a ride.




It can be assumed and granted that the small budget homes will be made with little deviations and occupation certificate for the same should not be expected. Such homes have to wait for akarma sakarma to pay the penalty and regularise the construction to get the occupation certificate.

But how can you forgive the builders, who charge upwards of 75 lacs and do not provide valid and appropriate occupancy certificate?

Without OC, the building is technically unfit for occ…
Post a Comment
Read more