Builder Floor

Indians prefer independent living and to fulfil the rising demand for such houses, many builders, now, are constructing builder floors, also known as builder floor apartments. Such residential units not only give privacy like that of an independent house but are also cheaper than many such independent bungalows. In this page, we will discuss everything you need to know about builder floors and how they are different from multi-storey apartments.

What is a builder floor?

Builder floor, also referred as builder floor apartment, is a residential unit in a low-rise independent building, which generally is two to four floors high. Such floors are usually developed by the builder on his own or in collaboration with the landowner under a joint development agreement. After it is constructed, each floor or builder floor is sold independently at different rates, depending on their demand.

Builder floor vs multi-storey apartments

While builder floors have a certain aspirational aspect to it, there are a number of drawbacks too. Such housing options do not have amenities such as gyms, swimming pools, security assistance, etc. The maintenance cost is greater in builder floors than in high-rise societies, as there are less people to share the burden in a builder floor complex. Also, in such buildings there is no separate upkeep team for cleaning or servicing purposes.

Pros and cons of builder floors

Pros	Cons
Affordable and offer independence	Not constructed by reputed builders
Do not have maintenance & other charges applicable in case of an independent house	Due diligence is difficult for such housing units
Easy to find in most localities	Risk of poor construction quality
	Property delivered may be different from what was promised by the builder
	Lack amenities such as swimming  pools, security, parking area and 24×7 power back-up
	Maintenance of the building & premises must be done by occupants

Builder floor ownership

The ownership of a builder floor unit depends on the buyer-seller agreement. The ownership of a builder floor usually comes with a proportional ownership of the plot. If the property is offered on lease basis, the plot ownership will be leasehold. The sale of a builder floor unit has to be registered and stamped, like any other property, at the sub-registrar’s office. However, some cities do not allow builder floor registrations. Buyers should not go ahead with such deals, as it will be deemed illegal.

Checklist for buying builder floor houses

• Conduct proper due diligence: Check the property’s title in the local registrar’s office and the approved building plan, floor area ratio and permits from the government.
• Check for the completion and occupancy certificates that ensure the property does not violate any local development laws. This is also necessary for electricity and water connections. Also, it is illegal on the builder’s part to offer possession without the occupancy certificate.
• If possible, hire a property surveyor to check the construction quality. The building’s age is also important, if you are buying a resale property.
• If you are buying a property from the existing occupant, check if all the dues are cleared before taking the possession. This includes water and electricity bills and property tax.
• Every unit should have separate facilities such as power and water connection.
• Verify the builder’s track record and reputation before making the purchase. You should also check the broker’s background before making a deal.
• Get to know the circle rate and base price for residential properties in the area you are buying in.

Check other options in similar buildings, for property prices and amenities, before signing the buyer-seller agreement.