Single-floor Unit Vs Multi-storey Apartments

A single-story apartment is one where the owner buys a piece of land, mostly old plots that are up for renovation, builds apartments on each floor according to the approved Floor Area Ratio (FAR) and builds bylaws and markets them as separate units inside the same building. The property belongs in accordance with all single-story purchasers. Because there are fewer unit numbers than in a multi-story apartment, these lack economies of scale and therefore have fewer common facilities such as maintenance and backups compared to larger multi-storey apartments. But these are newer downtown apartment units or preferred areas and come at a lower price than multi-storey units.

Today a multi-storey remains the most preferred residential units in the metro and large cities. It is a cluster of apartments in a high-rise building developed within a gated community in a plot with all the amenities available. These units, as Cooperative Group Housing Societies (CGHS), can be aggregated and constructed by developers or in the cooperative mode. We require strong specific management of facilities to take care of aggregating assets and to provide them at a fee to individual units. This fee shall be levied as monthly maintenance fees. They protect water and power supply, including replacements, lift and repair and landscaping of open areas. Many developments also provide a fee for plumbing and electric services.