Residential property is real estate intended to be lived in. Co-operative societies, multifamily properties, single-family homes, townhouses, and vacation homes are all a part of residential real estate.
When rented out, residential property is considered an investment property because it generates cash flows through monthly rent while also building equity as the property appreciates.
Residential apartments are the most commonly available property type in India. Their popularity stems from their modern appearance, availability of modern amenities, and superior security.
Today, many real estate websites in India provide an easy online list of residential properties, as well as unique filters that allow customers to select their preferences and view properties that suit them.
Flats or Apartments
Flat or apartments are the most preferred type of residential property that people in urban and semi-urban areas choose for themselves. One important reason is that flats and apartments include all of the necessities for comfortable living.
People in metros cities often choose to live in high-rise vertical buildings because of limited land availability and soaring land prices. Families and individuals will find these flats tailored to meet their needs. Typically, they are one, two, or three-bedroom apartments, but sometimes even more. Several builders offer additional amenities, such as parking and recreational gardens, equivalent to luxury for most middle- and upper-class families.
The availability of 24-hour water and power supply is the reason behind the increasing demand for apartments. Maintenance activities are usually handled by the developer, which is a plus. There are many apartments available, so you have many options for various budgets.
Clicbrics, a technology powered real estate website in India, features as many properties. Be it residential flats or apartments, they offer accurate house prices in India in some of the most popular real estate projects.
A single home is not connected to any other structure or home. A single-family home has open space on all sides and no dwellings above or below it. A single-detached house is a mobile home that is permanently attached to a foundation.
Investing in plots has been a traditional method of acquiring property for centuries. They are preferred by those who wish to construct and design their homes according to their needs. Plots are also preferred by investors because they provide higher returns.
Plots, unlike apartments, cannot generate a second income unless you build a home. But, on the other hand, plots also provide a higher capital appreciation rate than apartments.
Penthouses are luxurious houses situated at the top of very high-end buildings. A penthouse represents status and prestige among the well-off. These apartments feature many characteristics that can only be found in a few other apartment buildings.
The abundant natural light, plentiful ventilation, and an unconfined view set these penthouses apart from other apartments. Despite being part of multi-residential buildings, they succeed in providing a sense of independence that plush bungalows and villas more typically offer.
Compared to flat apartments, penthouses have higher ceilings and luxurious amenities like an open terrace and exclusive elevators.
Buyers will have complete privacy with independent houses or villas. One will also avoid the hassle of building a house. However, one of the major disadvantages of these homes is the lack of security .
The capital appreciation of villas may be lower than that of plots or apartments. The reason for this is the high initial capital requirement and the low demand compared to flats.
Villas or independent houses, however, have higher monthly rents than apartments.
One of two dwellings connected side by side (or back to back) but unconnected to any other dwelling or structure (except its garage or shed) is called a semi-detached house. There are no dwellings above or below a semi-detached home, and the two units have open space on all sides.
Bungalows are one-story houses with a large verandah and a stunning low roof. They are usually one-storied. Bungalows have large open parking areas, the luxurious beautiful garden, and are set apart from other houses. Bungalows are more expensive than flats because they are designed for having more living space.
A bungalow can have either a traditional or a contemporary design structure, depending on personal preferences.
As bungalows offer vast open spaces, they have become increasingly popular as a venue for special festivals, memorable wedding ceremonies, and other recreational activities.
Closing it Off
We hope this article on the most common types of residential houses in India has helped you satisfactorily understand the miscellaneous types of dwellings we call home. Because the more clear you are, the better your decision will be in selecting the right type of property that you’ve always desired.