Top floors in apartments in high demand in Mumbai
There is a joke that Delhiites are well grounded while Mumbaikars fly high. People, who know about the reality of the property market, know that higher the floors go up, the prices rise. Prices for pool facing or sea facing apartments are even higher and Mumbaikars are ready to pay almost double the sum for such premium apartments as preferential location charge (PLC).
However in Mumbai and some other cities like Bangalore and Chennai the flats are overpriced in the top floors, however in the National capital of Delhi, the scene is different. The citizens prefer to stay in the lower floors as there is water problem in the higher floors and during summers the top-most floor of a building becomes unbearably hot. Delhiites also are mindful of earthquake-prone zones.
Mumbai is India’s high-rise capital since land is scarce and expensive, and the only scope for expansion is up in the sky. Surjit Singh the president-marketing of the RNA Corp mentioned that in Mumbai people cannot afford big apartments due to the cost per square feet. However the top floor apartments due to the ventilation, provide a little more comfort to the owners. These high-rise buildings offer breath-taking views, privacy and better ventilation.
Buyers are ready to pay a premium for the apartments on higher floors which are cut off from the street traffic and noise, said Rohit Gera, managing director of Gera Developments.
Source- The Economic Times
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