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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

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