In today’s market scenario inventive options both in the residential market domain and loan offerings from banks seem to be the need of the hour. The ever rising incomes of citizens in India combined along with easy availability of home loans and given a real boost to residential real Estate market in India over a period of time. Builders have always tried to invent new products, matching Luxury and lifestyle demands of the buyers, one of such invention was the concept of Builder Floor in Delhi and now builder floors in Gurgaon is a super hit concept. The builder floors can be developed either by established builder, individual land owners or as joint venture of both the parties.

Basic Differences between Builder Floors and High Rise Apartments

• In the builder floors only a single standard unit which same specs are provided and per floor which entails that a single family has the entire floor to itself which provides better privacy whereas The high rise projects on the other hand offer a bouquet of option like 1, 2, 3 or 4 BHK apartments on a single floor which entails more people sharing the same floor and lack of their private space.
• The delivery period of Builder floor projects are much lower – 1 – 1.5 years max than high rise which is 4-6 years minimum which can affect the buyers pocket  assuming he is paying rent + EMIs for a longer time.
• Builder floors are more efficient in space and economical on pocket as there are no extra charges like EDC, IDC, IFMS, extra parking charges, mandatory club membership etc like in the case of high rise projects.
• High rise complexes with more number of units will can offer have many common amenities such as swimming pools, community halls, club houses and children’s park, whereas in case of builder floors one might have to take individual memberships like gyms and clubs suiting his / her needs.

Essential Checks while Buying Builder Floors

When you decide to buy your dream house in form of a Builder floor you need to follow a very strict fundamental protocol, as there are few customers. Mentioned below are some of the important checks that must be carried out prior to buying a builder floor:-

• A thorough past record of the builder in terms of his reputation, his after sales service, his quality of work, commitment to delivery etc should be determined.
• The title of the property has to be individually verified at the local courts or land record offices by engaging a lawyer which is not very expensive.
• Compare the pricing in neighborhood being offered by other builders. Usually builder floors in same locality and same size will not vary much.
• Consult and discuss with a number of builders, brokers and individual land owners before making up your mind.

The builder floors promise to provide lifestyle and luxury at an affordable price. However there are a few inherent risks associated, which can be catered for through a bit of research and careful planning.

In conclusion, both – builder floors or high rise projects have their Pros and cons. It is very individualistic decision to choose either of the 2. If you are a private person and enjoys efficient space planning then builder floor should be your choice and if you are a more social / extrovert kind of person and expect all your community requirements wthin close reach then definitely high rise is your option.