5 Checks Before You Buy An Exclusive-Floor 3BHK Apartment In Hyderabad!
When we say ‘exclusive floor’ and ‘independent-apartment’ in a ‘standalone building’, the reference is to a 5-storey building with only 5 apartments. This means, each floor has only ONE apartment, and you own the entire floor, should you buy ONE out of the total FIVE apartments.
In Hyderabad, many small builders acquire small plot sizes ranging between 400 to 600 square yards in good localities, and construct a 5-storey building with due approvals from civic authorities (GHMC).
These ‘exclusive-floor’ apartments are more expensive than regular apartments, because-
- Only 5 home-owners share the cost of the residential plot. Whereas, in regular apartments, the residential-plot cost is shared by many more home-owners. This means you have to pay a price for this ‘exclusivity’
- Such independent ‘one flat per floor’ apartment in hyderabad are more luxurious, and high-end specifications provided
- They usually measure over 2000 sft in area, and are very spacious
- The luxury element gets heightened because, all sides are open, and you have complete access to all the balconies, with unrestricted views of all sides
- These ‘independent-floor’ homes are Vastu compliant simply because they are open on all sides getting maximum sunlight and clear ventilation
- They may normally cost anything between 40% to 60% more than regular apartment in hyderabad.
In a locality like Sainikpuri, Yapral, a regular apartment costs approximately Rs 4200 to 4800 per sft in a standalone building segment. Plus, these homes are usually not more than 1600 sft in area. So, cost-wise, they can be anything between Rs 70 lakh to Rs 90 lakh in Sainikpuri, Yapral area.
However, an ‘exclusive floor’ in Sainikpuri or Yapral would cost in the range of Rs 6000 to Rs 7000 per sft. Plus, they are usually more than 2200 sft in area. This is why they cost approximately around Rs 1.5 crore range.
So, before you pay an amount like Rs 1.5 crore for your home in an area like Sainikpuri, you need to check on a few elements to secure your peace of mind. You must do your due-diligence and home-work well for the safety of your hard-earned money in order to secure long-term happiness and peace-of-mind.
some basic critical checks you must conduct before you buy your exclusive-floor apartment in Hyderabad.
1.Builder reputation and past projects
- Builder reputation can be judged based on past projects delivered
- Things to check are possession time-frame and existing resident feedback
- Reputation can also be judged by the quality of construction of delivered projects
2. Check for civic approvals
- Civic approvals required for a standalone building ‘exclusive-floor’ usually is given by GHMC as a building-permit
- RERA does not apply for small projects, hence GHMC building-permit is sufficient
3.Check for a home-loan approved property
- Home loan approved projects are safe since the financial institution granting a loan against a property would have conducted all the legal checks
- An exclusive-floor small project approved for loan by financial institutions means that your money is safe, since the property is mortgaged to the bank
4.Check for relevant amenities like elevator & power back-up
- Checking on relevant amenities like elevator access to your floor and having diesel gen-set are a must
- Home buyers in Hyderabad are looking at more convenience and space inside the home rather than outside amenities as offered in massive gated-community projects
5. Check for quality, specifications and construction-rigour
- Quality of construction is critical so that the property remain strong and sturdy even after decades
- This can be determined by enquiring into the pre-construction rigor like soil-testing based construction, adequate termite treatment, use of high end construction material/cement/bricks and so on
- The specifications of all the fittings and fixtures used in all kind of rooms, plumbing and electrical materials determines quality
This way, you can make sure you are buying the right ‘exclusive-floor’ apartment in Hyderabad with the right specifications, and from the right builder!
There’s nothing better than conducting your own due-diligence exercise, and securing peace of mind and happiness!
“The measure of success is happiness and peace of mind.”
– Boby Davro
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To know more about “5 simple joys of living in a spacious ‘independent floor’3BHK luxury residence!“. Click Here
