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Delhi, India (PressExposure) September 14, 2009 -- Homebuyers in North India have traditionally preferred flats that are located between the ground and fourth floors, says Vivek Shukla

Hardcore Mumbaikar Zafar Iqbal, an ex-IAS officer of Maharashtra cadre, who came to the capital recently on a special three-year assignment with a wellknown industrial group of Maharashtra was surprised to see people in Delhi and NCR still preferring to live up to fourth floor, in contrast to Mumbai, where people prefer top floors of highrise buildings.

Realtors say there is no pan-Indian thinking as far as preference for floors are concerned. But given a choice, North Indians definitely opt to live on or below the fourth floor. However, new generation North Indians are beginning to buy flats on fifth floors and above as well.

Sources in realty sector say lowrise independent floors launched by many builders [http://www.zameen-zaidad.com/] in the last couple of months have sold like hot cakes. This is quiet evident from the success of the lowrise floors launched by builders like BPTP, Emaar MGF, SRS, Era, etc.

It may be recalled that BPTP started lowrise-floor project in the Elite

Park Floors in Faridabad; Emaar MGF in Emerald Floors on Golf Course

Extension Road in Gurgaon, and SRS & Era in Naharpar, Faridabad. These floors are delivered much faster by developers — in approximately 18-24 months, as against 36-month norm in case of a highrise. The cost of independent floor is also lower.

According to a spokesman of Integrated Pan Realty Solutions, even in these G+2 independent floors, buyers prefer ground or first floor. This forced BPTP to make allotments by the draw of lot. Emaar MGF charged High PLCs for ground and first floors.

On the other hand, Devender Gupta of Century 21 India says that during his long career in the field of realty, he has observed that those who travel and have even been abroad are comfortable with even top floors of tall buildings. Even if they are from this part of the country, they do not care much for ground floor. “If a youngster is buying a house and his parents also live with him, then he would prefer ground to fourth floor for the convenience of his parents," he says.

Nikhil Sehgal, an engineer with a foreign airline, says he lived with his parents in a house in Kamla Nagar before marriage, but after that he purchased a sixth floor flat in a group housing society in Mayur Vihar. “I was not sure whether I would adjust in that flat but later things started settling down. I am happy there with my wife and kids. My parents also stay with me. They wanted me to buy a ground or first floor flat," Nikhil says with a smile.

Realtors also say despite greener areas in high-rise apartments, high-speed lifts, and underground parking, most buyers prefer lowrise independent floors. Even in the case of highrise apartments, most of the north Indian buyers prefer lower floors, up to the fourth or fifth floor.

These are in such obvious demand from buyers that BPTP had to increase the number of apartments — from 500 to over 3000 apartments. Emaar MGF had many waitlisted aspirants, who are now looking at options available in the resale market from original allottees.

While not denying categorically about this phenomenon, Sunil Jindal, CEO of SVP builders, says it is a fact that people still prefer either independent houses or flats up to the third floor. Things, nevertheless, are certainly changing. Even North Indian youngsters opt for flats on the higher floors. “What I have observed is that as a very large number of youngsters from north Indian cities have started shifting to cities like Mumbai, Bangalore and even abroad, in order to pursue their careers, their approach to various issues change. Then, they do not insist upon houses on either ground or first floor — they happily settle for houses even on top floors of buildings," Jindal says.

Courtesy:- TOI dt:- 05-09-2009

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On the other hand, Devender Gupta of Century 21 India says that during his long career in the field of realty, he has observed that those who travel and have even been abroad are comfortable with even top floors of tall buildings. Even if they are from this part of the country, they do not care much for ground floor. “If a youngster is buying a house and his parents also live with him, then he would prefer ground to fourth floor for the convenience of his parents,” he says.

Press Release Source: http://PressExposure.com/PR/Bhardwaj_buildtech_pvt_Ltd.html

Press Release Submitted On: September 14, 2009 at 2:16 am
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