The demand for real estate projects is on the rise, and there are a plethora of options to choose from. Be it apartments, row houses, villas, and more, the real estate industry has much to offer to satiate the ever-increasing appetite of home buyers. According to a study by a popular property consultancy, the share of apartments costing more than Rs. 1.5 crore, had doubled in the overall housing sales in the first half of 2022. This suggests that the demand for luxury homes had increased post-COVID.
However, a sizable proportion of the population still prefers non-luxury housing. But what is the difference between the two? In a broad sense, they can be distinguished by the price, amenities and features they come with. While luxury apartments have high-end brands of fittings, furnishings and modern conveniences within the premises, a non-luxury or regular apartment typically comes with local brands of fittings and furnishings and lacks a variety of facilities. But that’s not all; read on to know more about the various differentiating factors between a luxury and a regular apartment.
Table of Contents
Luxury Apartment Vs Regular Apartment:
1. Location
Luxury apartments are often located in upscale areas that are brimming with a wealth of social infrastructure. These areas are well-connected to the rest of the city by highways, ring roads, etc., considerably cutting down commute time. Also, the transportation options in these areas are first-rate, with everything from bus service to a metro network. The majority of luxury flats are located close to workplaces, shopping malls, medical facilities, and educational institutions.
Regular apartments frequently spring up in newly developed locations, like planned suburbs perhaps in the outskirts of the city, where development is anticipated to happen soon. These are locations that could lack essential infrastructure like medical facilities, educational institutions and sufficient transportation options.
2. Design and Features
Premium fittings, furnishings, amenities, and finishes are available in luxury apartments. Premium-quality materials are used for everything from windows to granite countertops and marble finishes. Moreover, walk-in closets, spacious balconies, large utility spaces, and even smart technologies are features of luxury flats.
Standard finishes, fixtures, and appliances are found in regular flats along with minimal amenities. There may not be a provision for smart home technologies or more space for walk-in closets in these homes. Regular apartments are built to meet the need for housing.
3. Size and Layout
Anything larger than 1200 square feet can be classified as a luxury apartment. These can come in 2, 3, and 4 BHK variants with spacious kitchens. Also, luxury units feature a separate room for domestic help. Generally, luxury homes have a floor-to-ceiling height of about 10-11 feet.
Regular flats often come in the 2 BHK variety and range from 700 to 1200 square feet. There may not be enough room in these apartments for a balcony or a utility room, either. Such apartments have ceiling heights that are no higher than 9 feet.
4. Amenities
Premium features in luxury residences include a large clubhouse, rooftop decks, swimming pools, and gyms. Luxury apartments today come with coworking spaces, game rooms, theatres, saunas, cafés, and more. In addition to these features, they have more elegant landscaping that includes playgrounds, parks for pets, benches, lakes, ponds, gardens, walking pathways, and other attractions within the premises. You might even find features like auto wash facilities and charging stations for electric cars. Therefore, for those seeking an active and vibrant social life, you will be spoiled for choice in such apartments.
Luxury residences have multiple lifts of premium quality such as OTIS and Schindler. They are safer and quicker than most lifts in the market. Also, having more than one lift ensures that there is no congestion during peak hours when everyone is headed to work, school, etc. One of the most important aspect of a luxury apartment is the concierge service. Its primary responsibilities include coordinating reception staff, assisting residents with luggage, and delivering mail to residents. It is also in charge of booking building facilities, coordinating building maintenance, and providing basic security at the building’s entrance.
Normal flats could have some minimal facilities, but fewer high-end amenities. They might not have any landscaping on their property or a designated play area.
In regular apartments, there could be just one lift of a local make. The chances of having multiple lifts are highly slim.
Concierge services are not available in non-luxury apartments and residents are left in the lurch to look for maintenance services, handling mail when unavailable to receive it, etc.
5. Interiors
The fixtures in luxury apartments are of the highest quality, ranging from electric fittings to elegant sanitaryware and even tile quality. Many luxury home builders include a jacuzzi in the bathrooms. Premium brands such as Jaguar and Kohler are used, ensuring that fixtures last for a long time.
A standard apartment will have fittings and fixtures of locally manufactured brands. Most of the time, there aren’t adequate switchboards in regular apartments, making every wire visible. Faucets may not be of the same caliber as their more expensive counterparts.
6. Security and Privacy
Luxury apartments are equipped with home automation and a multi-layered security system that provides residents with a safe and stress-free lifestyle.
Conventional apartments do not usually have such a high level of security. They normally have basic security systems in place, such as 24-hour guards, CCTV in a few places, and electronic card access.
7. Cost and Investment
A luxury apartment is significantly more expensive due to the high quality of the building materials, amenities provided, and overall finishing. An interesting fact highlighted by the popular property consultancy suggests that monthly rentals in the prominent luxury micro-markets of top cities such as Mumbai, Delhi-NCR, Hyderabad, Bengaluru, and Chennai increased between 7 percent and 18 percent in 2022 over 2019. It is safe to say that luxury apartments are pricier, but also fetch a higher rental value.
A regular apartment may be far more affordable, but that is also because it comes with fewer amenities. While there will always be demand for all kinds of properties, a regular apartment may not be able to match the luxury segment in terms of rental value.
Pros of Luxury Apartments:
- The apartments are well-maintained
- Lots of amenities at your disposal
- Homes are spacious and well-ventilated
- Many convenience features are easily available like in-unit laundry services, etc
- Fetches higher rent
- Better safety and security
- Conveniently located closer to social infrastructure
- Multiple transport access for ease of commute
- Excellent quality of construction materials
Pros of Regular Apartments:
- Costs much lower than luxury apartments
- Easier to secure a unit without a waitlist
- Ideal for those not looking for many amenities
- Lesser maintenance costs involved
Final Thoughts
There are numerous compelling reasons to opt for a luxury apartment. This type of community is ideal for residents who enjoy spending time outside their apartments and in the neighbourhood. When you buy a luxury apartment, you are usually purchasing a way of life rather than just a house. If you enjoy working out, a community with a large workout room, running trails, and a lap pool, you will have everything you need right at your doorstep, eliminating the need for a gym membership. The clubhouse within the premises can make celebrating birthdays and family functions convenient.
A regular apartment, on the other hand, may just do the trick if you’re looking for a nice, comfortable home that can safely accommodate you and your family. If you need a cosy home without having to pay through the nose, a non-luxury apartment is ideal for you.
Luxury Apartments for Sale Across India
