Independent Floors Vs High Rise

According to a survey conducted by property portal Makaan. com, approximately 60% of first-time homebuyers prefer apartments over independent floors, plots or villas.

- Shikha Bhatnagar

While plots and villas fall in a different category of properties, apartments are comparable with independent floors in terms of the living area and other specifications. As per the current trend luxury and lifestyle demand has seen the emergence of elegant Independent floors as the preferred choice among many high earning professionals. Here, let’s try to understand the difference between apartment living and Independent floors. Also, the challenges of buying either of the two.

Definition

Independent Floor - Is one floor portion of an independent house/Villa which can be owned separately. Generally builder floors or independent floors are built on a small plot in a residential colony by small/local builders. Also known as row housing in some areas, independent/ builder floors are low-rise houses, having a ground, first, second or a third floor subject to maximum permissible FAR in the area.

It’s generally an Amalgamation between local builder and plot owner, where builder infuses money and constructs the independent floors while owner contributes land.

High Rise/Apartment – An Apartment is an American Term which is used to refer to a self-contained housing unit located in a high rise building. It is a flat/unit in a multi-storied Tower of a common group housing society (CGHS), which is either developed by a professional developer or the local state development authority such as DDA, GDA, HUDA… etc. An apartment can have various floors, provided they are within the height prescribed by the respective authority. An apartment can have any number of bedrooms and can be furnished or unfurnished.

Need analysis

Why there is a need of Independent floor, when one can purchase an Apartment in a Group Housing Society and enjoy the luxuries of Independent living.