Rising income and urge for a better standard of living have fuelled the desire for new housing solutions. For many, independent living and privacy at an affordable cost are an important aspect of life.

Though the apartment culture is popular in current times, an interesting trend has been observed in the last few years – buyers are warming up to the idea of low-rise buildings. Both Metros and Tier II cities have witnessed a gradual increase in the inventory of low-rise buildings.

Apartments in low-rise buildings are also called builder floor apartments. The number of floors in these low-rise buildings is generally two-four. Such a floor can be developed by an established builder or individual owner of the land or it is a joint venture of both builder and land owner, enabling buyers to enjoy living in an independent dwelling.

Harnek Singh, an existing owner of a builder floor apartment in Krishna Nagar, Delhi says, “I was living in a 170 sq yards plot developed in the late 90’s. Last year (2014) I reconstructed our single-storey house with the help of an established local developer. Today, we have a 4-floor house with each floor having a 2BHK unit along with parking facility. The value of the property is way more than what it was before its re-development. Moreover, after renting out the third and fourth floors, we get a cumulative monthly rent of Rs 40,000.”

The main USP of a builder floor apartment is that it allows an individual to be the owner of an independent dwelling unit without paying a hefty amount for it.

Nitesh Himani, real estate consultant, Himani Properties Noida, says, “The difference in terms of prices between an independent villa and a builder floor makes the latter a lucrative option for prospective buyers. People aspiring a high standard lifestyle within a limited cost along with privacy of an entire floor go for builder floors.”

Harnek Singh continues, “It was a great opportunity for me, my father and two uncles to re-develop our old house and build 4 floors and live together. As of today, each family has an independent floor to themselves along with separate water and electricity connections. This has minimised misunderstandings and disputes which are common to joint families.”

Builder floors certainly offer luxury living and high standard lifestyle at an affordable cost. A bit of research and careful planning can help you get the best deal.

Pushpa Rawat