Thursday, October 21, 2010

Flats in Delhi or NCR

Flats | Floors | Apartments are the hot favourite property type for investor or end user. Flats are basically units constructed on a plot of land as one over the other and so on. Flats are a part of a building which can be a high rise (Multistorey with 4-5-6 or even 20 floors) or a part of a duplex or kothi, which has separate floors called independent apartments. In Delhi, Builder's are not allowed to construct any building above 15 meter (50 ft) height. Actually, Delhi is constructed above a high risk zone (earth quake probe zone). That's why we don't find many high rise building in Delhi except one or two Govt. buildings. 

                                                 In NCR there are lots of high rise building and thousands of real estate companies developing beautiful societies. In Gurgaon we have DLF, BPTP, Piyush Group and Raheja Builders etc. have developed and developing hundreds of projects (each project with 100 to 200 flats).

Ghaziabad, Noida, Greater Noida, Faridabad are also developing thousands of flats but the demand for Flats is so hight that their demand is always more than the supply, inflating the prices to the end users.

Govt. also keeps trying to contribute by making large projects through DDA and NBCC etc. These projects have large number of flats (2000 to 10000 flats). But even after so many efforts the demand for the flats always keep very high.

The most famous kind of flat in Delhi-NCR is a 2 BHK (2 Bedroom, Hall, Kitchen) flat. The starting price for  a basic 2BHK flat is 20 lac in Delhi. This price keeps increasing with more facilities and factors involved. For example a flat in Mehrauli's chhattarpur area costs around 20 lacs, but you cant avail loan facility in this area. On the other hand you can buy the same flat in Malviya nagar for around 50 lacs with loan and other better facilities. If you stretch our budget to 75 lacs then you can buy the same size flat in a posh area of Safdarjung Enclave or a DDA flat in Saket or Munirka Vihar. The posh most areas like Vasant Vihar or Panchsheel park or GK needs a large budget of more than 1 crore for a 2 BHK flat. Similarly the price of a 3 BHK flats ranges between 30 lac to 2 Crore. 

                                                                           You need to keep everything in mind before you decide to buy a flat, these factors are budget, locality, construction quality, covered area etc.
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