A multifamily house or building is a vertical construction that houses several individual dwellings. Its design includes apartments or condominiums and public areas such as gardens, swimming pool, gym, elevator, corridors and basic facilities. This type of housing was conceived as a solution to the problem of high population growth, lack of space and the increasing demand for places to live in large cities.
In India, multifamily buildings are quite common as it is in the norm of Indian culture for extended families to live together. The development of multifamily buildings in India even occurs in rural villages, however urbanisation has definitely called for many more multi family homes to be sprung up. Over time, it has become part of the urban fabric, as it is a real and affordable housing option for the majority of the population.
Apartments: Multi-room dwelling which is generally the most economical option. It has compartments, and therefore, offers privacy to its inhabitants. Sometimes they have a balcony or a small terrace.
Duplex: Buildings that house two floors, so that it’s like having two separate homes in a single unit. Generally, they have more square meters than a one-story apartment and with the distribution of the environments, it is more intimate: day zone on the ground floor, night area on the upper floor. Some duplexes have double height in the living and dining area.
Lofts: A very modern option, which usually provides status and prestige to those who own one. They are spacious and generally designed in an industrial style. They usually have high ceilings, large windows, so they are very bright. It is one of the most expensive multifamily housing options.
Some of the advantages of multi family homes are that they are already ready for you to move in, so you do not have to worry about buying materials or paying workers. The condominium or apartment is ready to live in already. Generally they are also cheaper thansingle-family homes and therefore, it is more affordable to buy a condominium than a house. When multi family homes are built vertically, they occupy less physical space in the urban area. If you live on higher floors, you can appreciate the views of the city.
Another advantage of choosing to live in a multi family building is that there is someone responsible for the management, administration or concierge, and who is responsible for maintenance and repair of the building, including common areas.They also usually have security and surveillance at the door of the building.
Last but not least, most multi family houses are located in areas near the metro, bus stops and supermarkets, making it a convenient and practical place to live in.
Some of the disadvantages of living in a multi family home is that the independence and privacy of the home is limited, as in many cases the houses share the same wall and the noise of neighboring departments can be heard a bit. In order to keep everyone happy, multi family buildings usually impose a few regulations such as banning pets, not allowing parties or trials of musical instruments and assigned parking which can also be limiting to the residents. Sometimes internal remodeling of apartments is not allowed.
Another possible disadvantage is that the security fees in the condominiums can be very high. Finally, take note that it may be the case that some multi family buildings are barely compliant with primary services and are built to meet a fast demand from a low-income consumer. Therefore, it is very important that before acquiring a condominium you go with an architect who can help you to review the quality of the apartment from A to Z.
The answer is yes because they are generally cheaper in the long run and you also have the option to rent out the units that are not being used. Multi family buildings can also be used as vacation homes that are rented out periodically especially if the condominium is located in a tourist hotspot such as Goa or Manali. Even investing in a department in a financial city like Mumbai or Delhi is worthwhile, because it can be rented out to corporate workers or business travellers.
The price of a multi family house depends on factors like size, style, and location. The prices of housing in Tier 1 cities are way more expensive than Tier 2 or Tier 3 cities. Buying a multi-family home within Mumbai can start with prices upto 4 crore rupees whereas in Delhi prices are a bit cheaper than Mumbai. Meanwhile, real estate prices at famous holiday locations such as Alibaug or Lokhandwala can start from 50 lakh rupees onwards.
Here at homify we can help you to contact the most suitable professionals to build a multi-family home, refurbish an apartment or change the layout of an apartment. Just fill out the free consultation form with all the details of what you would like and one of the architects in your city will contact you. homify can help you to make your dreams come true!