5/29/2017
The Times Group
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May 27 2017 : The Times of India (Mumbai)
A FLAT WITH A VIEW Rashmi Sanzgiri
DEMAND FOR FLAT ON THE TOP FLOORS AMONG PROPERTY BUYERS IS RISING LIKE NEVER BEFORE. READ ON TO KNOW THE ADVANTAGES AND DISADVANTAGES OF OWNING SUCH A FLAT The highrise buildings dominate the skyline of Mumbai and certainly make the city look beautiful.One of the major reasons for the construction of skyscrapers is lack of space
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to accommodate the ever increasing population. However, another factor for this growth is the increasing demand among buyers for a flat on the higher floors. Many buyers prefer to purchase flats on higher floors because of the panoramic view of the city they offer, and to enjoy that, they don't hesitate to shell out more money.In any realty project, top floor apartments are most expen sive. Moreover in Mumbai, higher floor or preferred location charges is a norm with most developers. According to developers, such floors are expensive because the finishing material for common areas becomes expensive in case of higher floors. Each floor, be it on the ground level or higher up, has its own advantages and drawbacks. Nevertheless, before you make up your mind on owing the topfloor flat in a high rise building, read on a few things you should consider. ADVANTAGES The prime reason why buyers prefer a topfloor flat is to enjoy better view devoid of the commotion of the city. Besides, the owner gets to enjoy privacy, adequate natural light and good ventilation that people living in the lower floor lack. “The selection of floor definitely plays an important role when a buyer is investing in a flat. Top floors offer scenic beauty and hence are preferred because of peace and serenity, away from the hustle and bustle of the city. Moreover, factors like breeze, light, brightness and aeration play an important role and are significant points on today's buyers wish list while investing in real estate,“ said Vivek Mohnani, joint managing director of a leading realty firm. In addition to this, investment in topfloor flat generates high rental returns.“Although topfloor flats are expensive, the financial returns from them are double than those in the lower floors. I decided to buy an apartment on the 15th floor of the 22storey building and gave it on rent to reap financial returns for the years to come,“ said Ravi Majhetia from Malad. DRAWBACKS Calamities like fire in the building sends a chill down the spine of those living on the higher floors. In such circumstances, the risk to residents living on upper floor is always more. Hence, make sure that the fire safety measures are in place.Furthermore, when there http://epaperbeta.timesofindia.com/Article.aspx?eid=31804&articlexml=AFLATWITHAVIEW27052017012014
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5/29/2017
The Times Group
is outage of electricity, climbing up can be a nightmare for people living on top floors.“Also, if the waterproofing works done by developer is poor, the topfloor flats experience lot of leakage problems,“ informs Parth Mehta, managing director of the leading realty firm. He further informs, “Moreover, the topmost floors in a building typically gets heated up more in summers resulting in higher power consumptions due to constant use of AC.“ One more disadvantage is the pressure of water supply which typically in case of buildings with underground tanks becomes a nuisance unless powerful pumps are used. Hence it is important to go through the checklist (see box below) before you seal the deal. CHECKLIST Make sure that common areas are equipped with security measures as well as accessible exit door and refuge area for safety exit in case of fire; Check the quality of construction to avoid water seepage during monsoons; Check speed and capacity of elevator installed to avoid waiting. Also, elevators should be equipped with a telephone or twoway radio link so that a passenger can contact security in case of lift getting stuck midway due to outage of electricity; Buyers should also check with builders on the measures they have taken to secure the building from hazards like fire and earthquake. It's of prime importance to check on the functionality of elevators and there should be adequate safety measures taken during times of power shortage and unexpected situations like emergency landings; Ensure that you chose a developer who is reputed and policycompliant.
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