Coming back to your point: The design life in Bangalore for an apartment should be about 60 years if the quality of construction is good. However if the quality of construction is not up to the mark the building can show distress even in 10 to 15 years time.
What is the average life of an apartment?
Ideally, the average lifespan of any concrete structure is 75-100 years. But, it is considered that the average life of an apartment is 50-60 years while of a house it is 40 years.
What is the average life of an apartment in India?
The life span of a concrete structure is about 75–100 years, the average life span of an apartment is 50–60 years and a house is average 40 years. Although Eco-friendly and green constructions have a longer life span, minimal maintenance can help increase the life span of any building.
What will happen to a flat after 50 years?
Generally multi storied apartments are governed by owners associations. Once a majority of them decides to demolish it, irrespective of the age of the building, each owner will have ownership of their UDS ( un-divided share ) of the land. Well designed buildings can go on for more than 50 years easily.
What happens to apartments after 100 years?
After 100 years you (your grand children) will get a notice stating the lease is over. You would then have two options. Vacate the property or renew the lease. It would be foolish to vacate the property and most legal fights going on are when the gov refuses to renew a lease term as the property.
Do apartments increase in value?
Apartments and townhouses appreciate in value over time. Investing in property is all about buying a property that will appreciate in value over time and deliver capital growth and good returns.
Is it better to live on the top floor of an apartment?
Living on the top floor means fewer visits from unwanted pests and critters. Bugs and other pests typically live in or on the ground outside, so they’re more likely to infest apartments that are closer to where they live in nature.
Does apartments have resale value?
There is a good resale value for apartments, under some conditions: If the location is very good (near to offices or good schools / colleges) If the builder is well known. If the community and the facilities provided are good.
Why flats are better than houses?
Build Your Savings. Along with the financial benefits of living in an apartment comes the opportunity to save for your future. The cost of running a house makes it more difficult to save for a “rainy day”. When your expenses are smaller by living in an apartment, you’re better able to save more money.
What type of house lasts the longest?
What type of house lasts the longest?
- Brick. It should come as no surprise that brick is one of the most durable building materials on the planet.
- Stone. Stone is another material that’s been used for centuries and has proved its ability to hold up over time.
Is it better to buy flat or house?
If you opt for a flat rather than a house, your initial purchase costs will be lower. … With a house, you have a higher potential for capital growth in the long run, but it is typically a larger investment with high initial costs to go with it – including many ‘hidden’ extra costs associated with buying a house.
Is flat worth buying?
If you wish to put your investment to use and look for using the asset on daily basis, then flat makes more sense and it can also be let out on Rent to generate monthly income which can offset your current living expenses to some extent or maybe create additional income for that foreign trip you had in mind for your …
Should you buy a 15 year old flat?
The best resale value for an apartment in Bangalore is within 3 years of purchasing and that too dependent of factors like Location,Builder and Quality of Construction. The resale value of an apartment after 15 years will be close to 50% of the orginal purchase price of the property.