Wednesday, November 7, 2012

Are independent floors higher up the value chain than flats?

Independent floors are constructed on a piece of plot and the whole of the built up area of the floor is developed as a single residential unit. Before the major housing groups dwelled into the construction of these projects, it were the individual builders who would take up a plot of the land, build it completely into a multi-storey home and then sell each of the floors to different people. With the entry of construction groups in the independent floors niche, such as BPTP Park Floors, the usual association of these units with the individual builders underwent a change and the association was now more with the housing groups that had initially focused on developing multiple storey flats.

Since the movement of construction for independent floors was from the independent homes, which were dearer than the flats, the former were considered to be higher up in the value chain than the flats since these provided more satisfaction than living in a flat. These were generally taken to be more luxurious since these were dearer and spacious than the normally flats. At the same time, these paved the way of low-density housing with better utilization of resources and, hence, these provided a better quality of life. There was a definite upward movement in the value chain as compared with the flats. Do these BPTP Park Floors apartments still provide good value?

As the real estate market has matured and there has been entry of the private players, there have been a lot of variants of these floors. On one hand, there are projects such as BPTP Park Floors Faridabad are no longer carrying the luxury tag or are being made in the spacious plot sizes. These come to you in the same area as a flat would come. And, BPTP is not an exception to this rule which is now being widely practiced. In the plot sizes equal to the area of a flat, the developers are constructing the independent floors. On the other hand, there are floors-projects which offer an ultra-luxurious lifestyle to the people. These are far higher up the value chain. So, there is no fixed pattern on whether more or less of value is added by these types of residential units. However, some features such as greater levels of privacy, common security and maintenance as a society and other similar features, all common to all variants of this type of project from the various builders.

Growth of niche segments of population, who prefer to lead a more quality life, with higher privacy and security and in a lower-density neighborhood than that of flats, has given the impetus for the construction of these floors.

Why group housing societies provide recreational amenities?

When the group housing sector in India was still in its infancy and it was the government which created the flats for the people, there was nothing much to be had in the society except for internal gardens and a common room for holding small parties and holding discussions. The essential focus was on developing the societies solely for residential purposes. The situation has changed a lot since those times. It has become quite a trend that the modern housing societies provide a wide array of facilities in their projects for the benefit of the residents of the society. Take any residential property, be it the Omaxe New Heights flats, or the independent floors, two of the most common variants of the property, there are a number of amenities provided for the residents who would be of different age groups. Be it the recreational or sporting facilities, such as swimming pools, sports facilities and equipments, spas and Jacuzzi, every modern society has these. And, there are good reasons as to why these are provided in the projects?

Urbane, Modern Living
By providing these amenities, the builders try to the best international standards housing to the country, offering the residents world-class urbane housing. People have long lived in the homes made in the traditional way. With the changing times there is greater consciousness about the quality of life and higher standards of living and this is sought to be provided by the builders in their projects.

 A more inclusive approach toward living
Today the people are short of time and they would certainly be willing to take the burden of walking or driving appreciable distances everyday for getting even the basic amenities. Whether it is the morning exercise or the evening walks, shopping needs or even the requirement of taking out the cash from the ATMs, they are short of time due to hectic schedules to take time out for doing these activities away from their living places. For this major reason, you can find that the modern societies permit good and healthy living by providing health-oriented, recreation-oriented and utility-oriented facilities within the premises of the society. This inclusive approach of societies, say Omaxe New Heights Faridabad, is also required when the projects are taken up in totally new areas which have not been developed much.

 Community cohesion
Gated communities provide a chance to live and enjoy the amenities together. The people from different regions, having different cultures and of varied beliefs come to resident in a society. The existence of these amenities in a project is meant for the use of these people and this facilitates easy interactions among the people who live in distant flats. The people come to know each other as they come together to share and enjoy these amenities.