Low Rise Residential Apartments Still in Vogue in Gurgaon

Gurgaon is probably the city in the NCR with the maximum number of high rises. But the demand for low rise living too continues unabated. The scope for growth in this segment too is high as the Haryana Urban Development Authority (HUDA) has been releasing plotted developments in various sectors over the years.
Despite the fact that multi-storey living has been the mainstay of new Gurgaon, for those who have a fear or aversion to heights, the concept of single floors has been attractive. There are many positives to plotted or single floor living. Firstly, the purchase cost is about 30% less than multi-storey apartments. Secondly, plotted developments require lower monthly maintenance costs. In a multi-storey apartment, you are paying for lift maintenance costs, diesel generator to run the same. Where power back-ups are available, those too add up to the maintenance costs.
The cost of construction and maintenance comes down drastically in case of independent floors as many of the infrastructure needs such as lifts and security to be provided in case of high rise are not mandatory in the case of low rise. In addition, apart from the lower cost of construction, these houses have lower charges on account of government licence fee compared to multi-storey apartments.
However, if you thought low-rise living is in vogue with those who are looking at less than premium options, you can think again. Nirvana Country by Unitech Ltd was the first plotted development of row houses that offered back-up power. Today, it is among the most premium residential developments in Gurgaon. Currently there is a lot of demand for villas and row houses.
There is a word of caution, though for buyers in this category. The success of your lifestyle in plotted development depends on the profile of the neighbourhood. It is a good idea to pick up either villas or single floors in gated developments by premium developers so that the profile of the neighbourhood matches your lifestyle.
According to Shorya Agarwal of REMAX Pro Vantage pointed out that the biggest reason that low rise apartments are preferred over multi-storey is that the buyers can incorporate changes like modern kitchen, woodwork according to their choice. “For someone who prefers a less social and peaceful life would prefer to live in a plotted development or low rise apartments. Another reason to prefer these types of development is that one doesn’t have to wait for three years for possession, you can get it within a year,” he said.
Agarwal added that the profile of the customers who want to invest in single floor in Gurgaon is mixed, both upper middle and high income group buyers.
Some of the developers who have such constructions in NCR include BPTP Ltd, Emaar MGF and Ansal API, among others. There are several options of single floors and villas coming up in newly developing sectors along the Dwarka Expressway. The Vatika floors are a good option and have been witnessing brisk sales.
There are also options along the Golf Course Extension. These have been developed after the Haryana government lifted the ban on registration of builder floors/single floors in May 2009. It is estimated that there are over 40,000 units of single floors in Gurgaon. With registration being open and possible, these projects are being funded by the finance institutions as well.
Source-Magicbricks

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