What is the lifetime of an apartment in India?

The life span of a concrete structure is about 75–100 years, the average life span of an apartment is 50–60 years and a house is average 40 years. Although Eco-friendly and green constructions have a longer life span, minimal maintenance can help increase the life span of any building.

How many years we can live in apartment?

Ideally, the average lifespan of any concrete structure is 75-100 years. But, it is considered that the average life of an apartment is 50-60 years while of a house it is 40 years.

What happens when apartments get old in India?

Generally multi storied apartments are governed by owners associations. Once a majority of them decides to demolish it, irrespective of the age of the building, each owner will have ownership of their UDS ( un-divided share ) of the land. Well designed buildings can go on for more than 50 years easily.

IT\'S FUN:  Best answer: What goods were traded on the Indian Ocean trade route?

What will happen to a flat after 50 years in India?

Generally multi storied apartments are governed by owners associations. Once a majority of them decides to demolish it, irrespective of the age of the building, each owner will have ownership of their UDS ( un-divided share ) of the land. Well designed buildings can go on for more than 50 years easily.

How long does an apartment building last?

The normal design life for a house or an apartment is about 60 years. If it is a commercial complex the design life is about 80 to 100 years.

Do apartments value after 20 years?

In conclusion, a new apartment with a price tag of 50 lakh rupees, with a 20% down payment and a loan with the bank at an average 8.5% interest rate for 20 years will end up with a price paid of over a crore rupees in total.

Is flat better or house?

Should I buy a flat or a house – the pros and cons

Home type: Pros:
Flat Usually under a leasehold agreement Usually cheaper to buy than houses Security e.g coded entrances, above ground apartments Sometimes come with on-site amenities

What happens to my flat after 100 years?

The development authority of a particular area provides land development rights to developers and sells properties for a lease of 99 years. This means that anyone who purchases a residential or commercial property will own it only for a period of 99 years, after which the ownership is given back to the landowner.

What will happens to apartment after 100 years?

After 100 years you (your grand children) will get a notice stating the lease is over. You would then have two options. Vacate the property or renew the lease. It would be foolish to vacate the property and most legal fights going on are when the gov refuses to renew a lease term as the property.

IT\'S FUN:  Who gave Bombay East India?

Is it worth buying 15 year old flat?

The best resale value for an apartment in Bangalore is within 3 years of purchasing and that too dependent of factors like Location,Builder and Quality of Construction. The resale value of an apartment after 15 years will be close to 50% of the orginal purchase price of the property.

Is flat worth buying?

If you wish to put your investment to use and look for using the asset on daily basis, then flat makes more sense and it can also be let out on Rent to generate monthly income which can offset your current living expenses to some extent or maybe create additional income for that foreign trip you had in mind for your …

Who owns the land of apartment in India?

In India, there are two ways the land ownership is determined as to when a block of apartments is constructed on the plot. The flat/apartment owners must decide whether they wish to form: An association of apartment owners. A Cooperative Housing Society.

What happens when 99 year lease expires?

On the expiry of a 99-year leasehold, ownership of the land reverts back to the state, and the rights of any property owners are effectively extinguished.

What is sinking fund for apartment?

A sinking fund is basically used for capital expenditure in respect of repainting, upgrading and refurbishment of the common property. It is calculated as a percentage, usually 10%, of the maintenance fee,” he tells City & Country.

What type of house lasts the longest?

What type of house lasts the longest?

  • Brick. It should come as no surprise that brick is one of the most durable building materials on the planet.
  • Stone. Stone is another material that’s been used for centuries and has proved its ability to hold up over time.
  • Steel.
  • Concrete.
IT\'S FUN:  Best answer: Are doctors allowed to have tattoos in India?

What is the life of high rise building?

A well built RCC high rise construction will last for 100+ years or for ever, even with very minimal or no maintenance. The same near coastal and humid conditions may last a few less years, and lot less with poor or inferior quality construction.

About India