3 BHK flat in Hyderabad: why buy a new launch property in a standalone building
Planning on buying your 3 BHK in Hyderabad? Let us explore some valid and sensible reasons why booking a new 3 BHK in Hyderabad, especially in a standalone building, may just be the right thing to do!
First, why are we talking only about 3 BHK apartments, and why NOT a 2 BHK flat? The reason is simple- while buying a property, it’s prudent to stretch by Rupees 10 to 15 lakhs and buy a more spacious home. For the average ‘middle class’ to ‘upper middle class’ home buyer with a family of 4, a 3 BHK flat in Hyderabad makes more sense in the long run. Besides, taking care of your family needs, even the resale value of your 3 BHK unit in Hyderabad will be more than a 2 BHK unit. Plus, you will NOT struggle in the future for want of space. Many home buyers are constrained to sell their 2 BHK to buy a more expensive 3 BHK in a lesser-preferred location. Being a major decision of a lifetime, a 3 BHK unit in Hyderabad makes a lot of sense!
Second, why ‘standalone building’? The reason is again to get MORE SPACE for the money you spend. With gated community living, you are paying for many amenities, which you may NOT use immediately. These are charged to you, and are baked in the ‘square foot price’ you pay. As a result, you get a much smaller 3 BHK. In a post-pandemic era, paying for more space INSIDE the house does seem to be a more appealing option rather than paying for a swimming pool, gymnasium, clubhouse, etc. Another huge advantage of a standalone building is that you get a LOW-DENSITY living advantage since standalone buildings with 5 floors are usually constructed in residential plots in Hyderabad. These standalone building plots normally measure between 400 square yards to 1500 square yards. Standalone buildings are located in well-established colonies, with much less clutter. This makes standalone building apartments safer, and much better located with the necessary amenities and social infrastructure around you, right from groceries to the necessary medical facilities.
Why book a new launch 3 BHK flat in Hyderabad in a standalone building?
Now, let’s explore the reasons why a new launch property in a standalone building makes sense!
You can get a home within a year with a standalone building. Hyderabad is a market where more than 95% of projects are being made by reputed builders on small residential plots.
We get a ‘bundle of benefits’ with a new launch property in a standalone building, usually comprising 5 to 20 units depending on the plot size in Hyderabad.
These ‘bundle of benefits are:
- Cost factor favourable when you book early and lock lowest possible price
- Booking a new launch project especially when it’s at a foundation level stage gives you an edge to book at lowest possible prices
- Being an initial buyer, you get a better deal. As the building slabs come up, builders usually start increasing prices by Rs 100 to 200 per square feet
- Initial booking resulting in a ‘choice apartment’
- You have all the floors available, and you can choose the property and floor of your choice
- Initial bookings usually are the cheapest, and the best apartments – both in design and location, are the first one to sell
- Repayment of loan becomes easy
- With possession away by a year, the construction linked plans allow you breathing space as the construction progresses
- The sudden outflow of money by EMIs is avoided, and you are better prepared to take the load of EMIs
- Once you move-in, you start saving on the rental of your existing home
- Ability to ask for changes in design early on
- Builders have the flexibility to allow/accept requests for minor changes inside the apartments during initial stages
- Later on, when the structure is ready, these changes are not possible
- Low cost acquisition resulting in more price appreciation on possession
- By the time the possession happens, your property appreciates by at least Rs 200 per square foot
- This means that if you booked a 1400 sft apartment at Rs 4000 per sft, it usually would appreciate to over Rs 4200 per sft…making it dearer by Rs 3 to 5 lakhs by the time you get possession, and move-in
- Chance to inspect and see the construction process
- Booking an apartment in a standalone building also allows you have the joy of seeing how the construction progresses
- You can engage with the builder’s team, and keep a close watch as your dream home takes shape
- Peace of mind with RERA on our side
- Booking an apartment early-on is much safer now with RERA protecting the home buyer interest
- Even home loans are provided by banks only to those projects that are RERA approved
So, it’s a safer and smarter bet to book your 3 BHK early on in Hyderabad and enjoy a ‘bundle of benefits.
With the right knowledge, you can be well-organised in your approach, and can get optimum value for your money!
To quote Benjamin Franklin- “An investment in knowledge pays the best interest.”
To know more about “5 reasons why buying a 3 BHK flat in Hyderabad in an interior location of an area may be a wiser decision” Click here