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Davidson19
Davidson19 • Sep 14, 2007

Trends in buying apartments and flats

Gone are the days when Malayalees thought in terms of an independent sprawling house, surrounded by vast open spaces and other paraphernalia. Cultural shifts and neuclearization of families with working parents have largely contributed to a drastic shift in the housing concept of an average Keralite.

Currently, in Kerala there has been an increased preference for high-rise apartments like other places in the world. The shift in tastes has been largely attributed to the scarcity of land as well as its high cost, especially in the city areas. Apart from residents, NRI have also portrayed an increasing interest for apartments located in main cities and townships in the state.

Most builders have a range of villas as well as apartments, but there are more takers for flats because of the comparatively low prices. For most NRIs, a Kerala apartment offers the safest kind of investment. The real estate companies often offer help in arranging hassle free rental of the apartments until they decide to return and settle in the state. Despite the service charges levied, this arrangement suites most NRIs. Regular maintenance of the apartments is also carried out by the real estate companies. Even local residents prefer apartments, with the modern amenities and the community environment it provides.

This shift is considered by some as a positive move. With land availability diminishing at an alarming rate, the trends in buying apartments and flats over independent houses are often viewed as a responsible move by many proponents of environment.

However, there are those who oppose this move for high-rise apartments over stable independent houses. This is especially true in the case of high-rise waterfront apartments and flats. The argument put forth is that in the unfortunate event of a natural disaster like an earthquake or such, high-rise buildings near water front areas are more susceptible to danger. Nevertheless, the veteran builders and building planners assure us that modern building technologies that are incorporated at the time of construction are sufficient to withstand most adversities without any major damages.

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