Are you thinking of investing in residential real estate? If the answer is yes, then you should take a closer look at the various kinds of residential properties available in the market.
Those interested in investing in residential real estate in India definitely have their task cut out. The residential market has come out of its COVID-19 induced slump and has been performing well for quite some time now. However, if you are a pure investor, i.e. one who is only investing for future value appreciation and/or rental income, then you should carefully note the types of properties that are available. Choosing the right property is of paramount importance in order to reap the future value of your investment. If you are investing for end-use, then you will naturally have to look at occupational needs and those of the entire family.
Table of contents
On that note, here’s taking a closer look at the different types of investments in the residential property category:
Apartments
These are undoubtedly the commonest housing types available in the country today. You will find apartments dotting the skyline of almost all major cities and the trend has been observed in leading Tier-2 cities and suburban areas as well. Flats or apartments, as they are known, are part of vertical housing projects be it high-rises, complexes, towers, gated communities and even low-rise projects. They are usually available in 1, 2 and 3 BHK configurations while some projects even offer 4 and 5 BHK units to buyers.
Apartments usually come fully finished in terms of fixtures, paint, fittings, electrical components, etc. these days. At the same time, they also help residents get access to several extra amenities if they are living in a gated complex, residential complex or integrated township. These include everything from sports facilities, open spaces, greenery, club houses, recreational amenities, safety and health features to basic retail, education and more! They are still considered the housing type of choice for a majority of the affluent, middle-income and lower-income segments of buyers. You will find apartments in the affordable housing segment in almost all cities along with mid-income propositions, premium apartments and even those in the ultra-luxurious and luxurious categories, helmed by big developers and offering top-class project quality, finishes, and amenities.
Studio Apartments or RK units
Many projects, especially in metro and Tier-1 cities, have studio apartments on offer for solo occupants or investors. These are sometimes known as RK (room-kitchen) units. They do not have any separate living rooms or bedrooms. They are compact and more efficient units that are preferred by students, working professionals and the like.
Penthouses
Coming to the upper and luxurious end of the apartment category, you will find penthouses. They are exclusive and located only on the top floors of projects with the best views, more natural light, better ventilation and occupy a whole floor, giving a feeling similar to that of living in an independent home. These properties may have several levels within the same unit in some cases. Ceilings are also higher for penthouses which come with luxurious amenities and features including private elevators, personal terraces and outdoor areas, etc.
Duplexes and Triplexes
You will also find two-storied apartment units or duplexes and even three-storied apartment units called triplexes in some projects. They offer a unique bungalow-like proposition for families with one living and dining room and even one kitchen in some cases, accompanied by multiple rooms and spaces on multiple floors.
Bungalows
Bungalows are luxurious propositions in most of India, offering lawns/gardens, outdoor areas, parking and distance from other properties. They are more expensive since they occupy a higher proportion of land/floor area. They also come in various avatars, often occupying two or three storeys or simply being a one-storied yet sprawling house.
Independent Homes
There are numerous independent homes available that you will find not only in metro cities but all throughout the country. These are independently built homes of one, two or three storeys (sometimes even more), which may or may not have parking space, gardens and distance from other houses in the neighbourhood. They may or may not be costlier than apartments since they are built on smaller land parcels.
Villas
Villas are luxuriously designed homes which have cutting-edge amenities, backyards, lawns and are usually situated within gated projects or communities. Villas offer independent living with all the advantages of a residential complex. They are costlier than many apartments depending on the area offered and the location. Villas offer more privacy as well.
Row Houses
Row houses are independent homes built within gated communities and all the homes in the project are absolutely identical to each other. There are several such projects in major Indian cities and buyers may renovate or revamp their row houses without any hassles as well.
Farmhouses
Farmhouses are usually adjacent to agricultural land, gardens and working farms. They are preferred by those investing in second homes or holiday/vacation homes. Families choose more space for relaxing, gardening, growing vegetables and fruits, pursuing fitness activities and hosting get-togethers without any hassles. You will find numerous farmhouses and such projects on the outskirts of major cities in India.
These are the various types of properties in the residential segment that you can invest in. There are also plotted developments, i.e. where plots of land are offered by the developer for sale within a gated community. In such cases, you will be investing in the plot and then building your own house just the way you want it.
