Reasons why buying an under-construction ‘exclusive floor apartment’ is a wise move: a perspective for spacious 3BHK home-buyers in Hyderabad!
An under construction apartments property gives us enough time to think and choose what we are looking for. This makes all the more sense for a ‘one apartment per floor’ configuration where the ‘entire floor belongs to you’.
These ‘one apartment per floor’ exclusive apartments are built upon a small plot size (usually 400 to 700 square yards). Obviously, these residential units are more spacious (upwards of 2200 sft), and cater to the demands of a premium segment of buyers who seek a discernible lifestyle.
For instance, in a locality like Sainikpuri, a ‘regular apartment’ may cost about Rs 4200 per sft, but the ‘exclusive floor, independent floor home’ could cost about Rs 5800 per sft. Certainly, the specifications and luxury element of these units is much higher than regular standalone building apartments.
Plus, the builder makes ‘only 5’ of these luxury apartments on these smaller residential plots in good and well-established localities. Consequently, with lesser units to offer, these luxurious homes get sold much faster than the usual ‘cluster-type apartments’ (regular flats) where you have many families sharing the common-floor plate. Whereas, with ‘one apartment per floor’ residences, you are the undisputed King of your entire floor– with no interference from anyone on your floor, and enjoying complete privacy!
Evaluating under-construction properties in this exclusive segment means that you are not in a hurry to get possession, and want to have the very best for yourself!
This helps you explore your options well, and choose what works best for you!
7 reasons to consider booking an under construction apartments like an ‘independent floor’ home
1. More economical to be an early bird
- The builder is more flexible to share lower prices when the building is still in the initial stages, and you are the first or the second buyers in the 5 residences building
- The builder is willing to offer you a lower price when you are an early bird home buyer
- The builders like to offload their inventory early on, and once at least 3 out of 5 units are sold, the price usually gets revised upwards
- Also, you don’t lose much time by booking early-on since the completion of such projects usually happen within 18 months
- So, you can effectively save at least INR 200 or 300 per sft by having the first-move advantage. A 2200 sft effectively costs you about INR 4 to 6 lacs cheaper
2. Flexibility to choose unit of your choice
- In the first 6 months of construction, you can get the unit of your choice. This becomes important because you are anyways paying more than usual apartments while buying an exclusive floor
- It is advisable to be pick the best unit suited to your requirements
- Apartments nearing possession are usually the leftovers
- So, gain an ‘early mover advantage’, and get a more premium unit at not so premium price
3. Loan amount outflow is slower
- Should you buy an apartment nearing possession the monetary outflow is instant
- With under-construction units purchased in the initial months, you are better prepared to adjust to the outflow of finances
4. Price increases can be avoided
- As the building starts taking shape in a good locality, prices go up. Builders begin marketing efforts, and with a higher footfall, the enquiries increase. With increased enquiries, the prices also shoot-up
- It is not unusual to see price increase when the super structure becomes visible. This is natural because the new potential buyers can now get an actual touch and feel of the apartments. The views become even clearer and more attractive with ‘independent floor’ units. The results- prices go up!
- So, the early bird home buyers are able to block the best apartments at the lowest possible prices
5. Design flexibilities can be accommodated easily
- These design changes can be catered to at an initial stage. The possibility for modifications is more in the initial stages of construction
- You could seek some internal changes, spaces, fixtures, fittings etc. without compromising on the structural stability of the building
- When the building is ready for possession, such changes are not feasible
6. Prospects of appreciation
- The location, the reputation of the builder, the attractiveness of the project can give you profits within a very short duration
- The appreciation of your home is more considering that you would be investing in a luxurious unit in a good locality
7. The joy to see your home being constructed & inspected
- You can see what’s happening on the ground, and keep a keen watch on the builder
- You can actually see if the specifications are being delivered or not
- You can actually question the builder for anything you find unsatisfactory
These are 7 undeniable reasons why buying an under construction apartments like ‘one apartment per floor’ property in Hyderabad is a wise proposition.
