Housing Terms You Should Know Before You Invest in An Apartment in Trivandrum
Trivandrum is witnessing a surge in demand for apartments due to its rapid urbanization and growing IT sector. Besides, there is a huge demand for quality housing from middle-class and upper-middle-class segments. As you consider investing in the booming real estate market, Sowparnika, the leading real estate builder in Trivandrum, suggests familiarizing yourself with essential housing terms. Whether you’re looking for affordable apartments in Trivandrum or the best apartments in Trivandrum, understanding these key terms is crucial.
1. FAR (Floor Area Ratio)
Understand the Floor Area Ratio (FAR) applicable to the apartment complex. It determines the total floor area allowed on a given plot of land, which impacts the apartment’s size and the overall density of the project.
2. Loading Factor
Inquire about the loading factor, which refers to the percentage of common areas added to each individual apartment’s carpet area. A higher loading factor may reduce your usable space and affect the overall apartment cost.
3. Open Space Ratio
Assess the Open Space Ratio (OSR) in the apartment complex. A higher OSR means more open and green spaces, providing a pleasant living environment and contributing to better air quality.
4. Car Parking Spaces
Check the provision for car parking spaces for residents and visitors. Sufficient parking facilities are essential for convenience and to avoid parking-related issues in the future.
5. Builder’s Reputation
Research the builders in Trivandrum and their reputation and track record in delivering projects on time with quality construction. Trustworthy real estate builders like Sowparnika, overseeing projects like Yara, ISTA and West Holmes, provide quality construction and timely delivery, adding peace of mind to your investment.
6. Future Development Potential
Consider the potential for future development in the area. Upcoming infrastructure projects, commercial establishments, and improved connectivity can positively impact property values.
7. Escalation Clause
Be aware of the escalation clause in the agreement. This clause allows the builder to increase the apartment’s cost due to changes in raw material prices, labor, or other factors during construction.
8. Concealed Costs
Be vigilant about concealed costs that may not be explicitly mentioned. Clarify all charges, including maintenance fees, clubhouse fees, and legal documentation charges.
9. Residential vs. Commercial Proximity
Evaluate the proximity of the apartment to commercial establishments. While living near commercial areas offers convenience, consider the potential noise and traffic implications.
10. Resale and Rental Demand
Assess the resale and rental demand for apartments in the area. A high demand for rentals can make the property an attractive investment option.
With projects like Yara and West Holmes offering 2 & 3 BHK apartments in Trivandrum near Technopark and St. Thomas School, respectively, and ISTA providing 1, 2 & 3 BHK Duplex flats in Trivandrum near Ulloor, Sowparnika, the leading real estate builder in Trivandrum, ensures your investment is a seamless blend of comfort and convenience. Explore these projects and embark on your journey to find the perfect home in the bustling city of Trivandrum. With Sowparnika’s expertise, your investment is in safe hands.
Happy apartment hunting!
Candid Insights Luxury vs Budget Apartments in Trivandrum
The decision to invest in a new home is undoubtedly…Learn More
The Advantages of Opting for an Affordable Apartment in Trivandrum
In the bustling city of Trivandrum, where the real estate…Learn More