Flats Vs. independent houses

The city of Chennai is renowned for its realty might and is amongst the best places to live in Southern India. This capital city of Tamil Nadu is a major commercial hub. It is also a well-known industrial, cultural, tourist and educational centre. Over the past few years, this metropolitan has been awarded several distinctions leading to great demand for flats and individual houses here. These include:

Being named as one of the top 52 destinations in the world by US daily, “The New York Times”
Only city in India and the entire South Asia to figure in this list
Termed as the top 10 global cities to visit in 2015 by Lonely Planet
Features amongst the hottest metropolis in the world to live in by BBC for 2015
Distinguished for housing large number of super rich individuals in the country and is 3^rd in this list after Mumbai and Delhi
Has a great mix of traditional and contemporary values

Owing to all of these features and large scale of infrastructural development happening in this region, the surge in requirement of flats and independent houses for sale in Chennai is rising by each quarter. Having said this, both these categories of home have their own distinct advantages and opting either of these depend on several parameters including area, budgets, amenities, accessibility to essential necessities, mode of commute, etc. Here are some of the major similarities and difference between the flats and independent houses in Chennai –

Similarities between the flats and independent homes

The basic requirements for home buying remain the same irrespective of the type of property that is being purchased. This includes:

Sanity check

Checking the reputation and past track record of the builder
Verifying the market reputation and financial strength of the developer
Understanding the technicalities of the scheme
Scrutinize the safety of the investment
Cost of the property should be in line with the prevailing rates in the vicinity
Examine the availability of quality education, medical and market facility in the area

Document check

7/12 extract – document of title clearance
Development rights
Building plan approved by the local administration
Completion and occupancy certificate issued by the Chennai Corporation
In case of resale flats, the documents will also include the receipt of the property tax, electricity, water and maintenance
No encumbrance certificate by the concerned sub registrar

However, in case the property is being purchased online through reliable real estate platforms like Housing.com, then there is no fear or anxiety related to transactions as all real estate assets hosted on this site are physically verified, their documents are examined and 100% genuine. Additionally, Housing.com also features thousands of flats for sale in Chennai, thus giving the prospective home buyers several options to choose their dream home from.

Differences between the flats and independent homes

There are several differences between the individual houses and apartments and the prominent ones are:

Cost – the cost of an apartment in general is lower than independent homes, villas and bungalows
Security – safety is the major concern for standalone houses as the flats are generally preserved by the common security in charge of the society
Amenities – conveniences offered by row houses and individual homes are much better as they do not have to be shared with neighbors and are not jointly held unlike flats