What if your builders tower collapse in an earthquake?
Is apartment better than an independent plot?
Are you really at a safe place?
we often ignore these questions as either we are not aware of or we do not want to get a blow!.
Most of the people living in Delhi Ncr are related to the service sector, We save throughout life to either buy a home or pay its EMI”S but do we consider the fact that Delhi NCR lies in earthquake Zone -4 (potential earthquake of up to 6.5 Richter scale). We often neglect this thing when we are out to buy a home in the market as we have not physically witnessed any severe earthquakes in our life.
We have done a depth analysis for you what will be the difference if we buy a plot and construct and if we go for apartment.
Apartment of size 2000 sqft
- Covered area of around 2000 sqft
- No terrace
- 1 Car Parking only
200 sqm Plot (2151 sqft plot)
- The basement area of around 50% (1075)
- Stilt area parking+ full ground floor – 2151 sqft
- 3.25 Covered area, where balcony projection is also free from this factor still it will be around 7500 sqft
- Terrace around 70% of plot i.e around 1505sqft.
- 2 car parking in front of the gate, 4 can be parked inside in the stilt area.
It means for a 200 sqm plot you may build a basement + stilt parking+ 7500 sq ft area i.e approx 3.25 floors+ terrace.
The total area which can be used will be around 11750sqft
-Stilt parking can be your store, small personal swimming pool or small office,
-The terrace can be your bar with terrace garden.
One Time cost
- 12000000 (@ 6000/sqft for 2000 sqft flat)
- Extra 3-4 lacs for parking
- Approx 3 Lakhs interiors
The total one-time cost will be around 1.30 with the registry.
- Approx 2.5-4 per sq ft. let it be 3 for say, i.e around 6000 for a 2000 sq ft flat. i.e 72k for one year. with min 3% increment with time, it will be around 8 Lakhs for 10 yrs
Total costing for 10 yrs
One time + Maintenance
=1.3cr + .8 lakhs
One Time cost
- Plot cost @ 50000/sqm ( in a decent gated colony of greater Noida). 1 Cr. (It’s for a good location however prices ranges from 20k-55k / sqm in Noida, Greater Noida)
- Construction with interiors cost will be around 1.25 cr
Total one time cost 2.25 cr.
- Approx 5-8 per sqm. Let it be around 2000/month. for the year it will be 24000, for 10 years it will be around 2.7 lacs with 3% increment.
Total costing for 10 yrs
One time + Maintenance
=2.25cr + 2.7 lakhs
- No rental income
- return of around 8-10 %
Now apartment cost 1.20cr @ 8% for 10 yrs will make it 2.97 cr.
- One floor owner lives rest two on rent, let the rent from each be 15k monthly and 10% increment annually as the plot is in a good location too. 10 yrs rental income will be around 93 lacs (surprised? use calculator)
- Return for plots is around 12-15 per cent as compared to flat with 8-10%. value of the property after 10 yrs @ 13 % return will be 7.73 cr.
- we save around 6 lakhs in maintenance in an independent house in 10 yrs it means. Can save an extra 2 if you opt for solar electricity i.e smart building concept.
- Free gym
- Free terrace Garden
- Free lift installation
- you can always hire a personal guard for house and children take care.
- it more hygienic to have a personal swimming pool.
In an 18th floor building fully occupied we waste 10 mins for waiting for a lift i.e we waste on an average around 20-30 mins daily and in 10 years we will waste around 75 days of life just for waiting for a lift (assuming 2 times up down and 5 mins wait making it 4 times wait). it’s just like sitting 75 days in front of lift without doing anything productive.
- Does the builder deliver a project on time?
- If there is an earthquake and structure gets damaged builder will correct it?
- Each builder has its golden time, do the builder owns only one company? What are the liabilities of a Pvt Ltd company? nowadays every builder wants to be a defaulter as it’s an easy escape, isn’t it? what happened to Jaypee, Supertech, Amarpali and many others who declared themselves as a defaulted. Now, what will happen if anything wrong goes with project structure at any time?
The hard reality is if a tower falls there will be no liability of the BUILDER,
What are the liabilities of Builder after 5 yrs over a project? Do let me know too!!
No builder has been ever given the death sentence in India, however many of them have taken lives till date.
The builder will put up everything on contractor and contractor on his subcontractor and it goes on, a crowd will be booked up and no one will be punished.
How many killed in the earthquake-resistant building collapse of shaberi ?
It took long to disclose the name of the builder in media.
In India, especially in Delhi – NCR, the apartment culture dates back around 20-25 yrs, cement has a life of around 50 yrs. A builder who is in his late 60’s now will hardly live 10-15 yrs more who will you punish, the company will go defaulter and they will rise up with a different name in the market isn’t it happening already? Maybe you might have not gone into the history of new names of the market, know their directors past, things will be clear.
The dealer will show Swimming pool, views, lounge area, gym, he has his 2 % commission from each deal. No one will take up the security of your hard-earned 1.38 cr over which you will be paying interest every day. We risk our lives for artificially made-up community and security.
Not every builder is the same. Make your decision wisely.
Builders juice up a 600 m plot with 24 floors and each floor with 6 flats? making total 144 homes over a small piece of land. This is the reason why No one will ever advertise plots over Towers!
- In the plot, you will get 5 times more area than a flat.
- Plot EMI can be reduced by renting the first 2 floors.
- A safer roof in case of an earthquake
- .1.38 flat will become 2.97 cr condition is the building does not give up vs 2.25cr plot (pay extra EMI part through rental) will yield you around 7.73 cr
- No court cases fight with builder
- Save 75 days of 10 yrs life.
- Be an owner of everything.
I have worked as a civil engineer in Delhi Metro and have witnessed the real quality civil engineering but now working as an owner of Aarna constructions & Interiors when we execute our projects in societies the way some towers has been raised up is really scary.
Please do share and put up your views.