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High rise or builders floor


High Rise caries very undefined character with regard to ownership of land, flat area, pricing, completion & delivery etc. Ownership of flat is there, but there is no right to proportionate land on which the high rise is built. So, one has to compromise with the right to land, first point.Secondly, there is sheer ambiguity with regard to measurement of flats. Buyers are charged for larger area than they actually get. It is totally undefined, undisclosed, quite mysterious and a sort of foul play on the part of developers. Flat size may be shown 2000 sq.fts., and one may be paying too for it, but he may be getting say around 1600 sq fts. One can understand the cost implication of such treacherous machinations. Pricing needs no comment. When the project is launched, to attract buyers, very rosy picture is depicted and host of quality, quantity, features, services are offered. It all evaporates, once an agreement is clinched.Just one becomes a handy tool of exploitation of builders. The ground realty is that one has to follow the payment schedule of builders and at the same time ensure repayment of EMI of availed loan. Being high rise, 3 years delivery time is given, but uncertainty prevails, as none of the builders adhere to promised possession date or work sincerely to finish high rise by given date. From present scenario, one can imagine the havoc, high rise builders, can play with home buyers. Thousands and thousands investors are trapped in and languishing for their home with untold/unheard miseries and financial disaster in NCR and all they are big and renowned Builders. They have been found indulged in diversion of fund that home buyers invested. Large number of projects in high rise segment have been held up due to dispute over land acquisition, master plan issues or hurdle in plan sanctioning by Authorities.

The story of floor builders is different. In Gurugram, large number of small players are active in floor building work. Builders acquire small plots of 240/300 sq. yards and build floors over it. They are just stilt plus 3/4. They are small projects, so hardly they face any financial crunch. They try to finish their project much before given date and hand over possession timely. Owners of the floors have shared right to land. There is no ambiguity over area, since deal is on floor basis. Prospective buyers easily look into the work progress and quality of construction and can point out in case of any deviation. These floors are raised in developed area and not like the high rise in undeveloped areas. Cost wise, floors are cheaper than flats in high rise. Builders’ floor built over 240 sq yards if costs around 1.4 crore, a flat of 2000 sq. fts may come for about 2 crore. Apart from such cost variation, floor shall have more space than the flat. Builders are cautious and careful to their reputation and being small player, they finish one project and try to start new one.

It is a record that floor builders have no failure, contrary to high rise. Such dwelling units have zero maintenance cost and they are more eco- friendly. They are easily available in developed areas, well connected to markets, health, education, rail, road services etc.

Such floors are popularly called Palm floors. Rosemary Hospitality Pvt. Ltd. is a leading developer of Palm Floors in Gurugram and his track record of performance is a testimony of buyer satisfaction.

For any home buyer safety of his home investment is the first priority. Why to wait for 3 year or take a chance to uncertainty, when Palm floors are available, cost wise prudent and surety of timely completion and possession.