Buying flat in Kerala - New Trends, Buying patterns, Things to Consider

Change in the Home Buying Pattern, Things to Consider for Apartments in Trivandrum

In  the last decade or so, there has been a significant change in the home buying behavior and the demographic segment buying apartments in Trivandrum and Kerala in general. 

Today a typical person buying an apartment is not always in late 50's but more so in and around 30's. Most young couples or unmarried individual's who earn a handsome salary, consider a budget flat or a luxury apartment as a future investment and likewise a means of saving. The type of apartments in demand has also changed in the recent past with families looking for more compact accommodation and facilities like swimming pools, gym, security, CCTV etc. in additional to normal features. Young couples often do their research on the internet, visit model flats and form a mindset before buying a new apartment. 

New Trends witnessed in the Apartment sector in Kerala

One clearly visible trend is much more clarity of thought with apartment buyers. Most flats built today are designed keeping in mind a particular demographic section for e.g 40 year olds with 2 kids. In such a situation architects and designers would usually prioritize and cater to larger drawing rooms and spacious dining spaces. In addition there could be three or four bedrooms depending on the size of the family. Such apartments can have square feet sizes from 1800 to 2700 sq.ft. The other clear segment are young couples or singles who prefer single or two bedroom flats from 900 to 1400 sq.ft. A usual variation is a 2.5bhk with 3 beds and 2 bathrooms. Young couples also want swanky living spaces with jogging tracks, pools, gyms etc. irrespective of their use for them or not. These features serve the aspirational values of today's young generation and they are often ready to pay premium rates for these flats compared to those that dont have them.

What builders consider while choosing a plot of land for building flats

Builders usually consider four things while choosing a plot of land for building an apartment.  These are:

• Shape of Land
• Nature of Land
• General Amenities
• Utilities

Shape of the land includes verification if the shape of the site is fit for building construction or not. Nature of the land includes ground water availability, height of the water table, if it is wet land or not i.e. if it the land is prone to flooding, load bearing capacity of the mud in the land, height of the rock bottom etc. General amenities usually considered by builders include water front, sea view, greenery etc.  Utilities include availability of water, electricity, telephone at the project site. The design team of the builders usually consider all the above four factors before deciding on the plot of land. 

Things to Consider while Buying a Flat

Furnishing and Interior Design in Apartments 

Today even children have their own views about how they want their rooms and it's interiors within a flat. Furnishing homes has opened up a large opportunity not only for interior designers but also custom decor companies making their way into India. IKEA and other retailers waiting to enter today's market is just a inkling of the huge market potential available. In Kerala, unlike some other states wooden furnitures make way into most homes, villas and apartments. Besides the use of soft and hard wood in interior design two key aspects which are often overlooked are lighting and placements. Often the average home buyer is unaware of these nuances and a majority of the population even today does custom designs of homes  or flats employing craftsmen. An alternative could be to employ the design services of a builder which comes as a package deal or work with reputed consultants who bring all the experts from kitchen to wardrobe designers as well as lighting experts to the table. These approaches can ultimately make a huge difference to the way a home looks and feels and have a positive correlation on its selling price.

Availability of Water in your Apartment

Availability of good water is one of the most common questions buyers ask while buying an apartment. With some parts of Kerala affected by water shortage and scarcity it is not surprising that this is the case. Typically in a flat, water is provided from three different sources:  

Sources of Water in a Flat:

1. Ground Water - Wells or Borewells 
2. Rain Water Harvesting - This is facilitated by water stored underground in a tank to be used later
3. Kerala Water Authority water - This is the water supplied by the Kerala Water authority.

As per studies, the water requirement per person on a daily basis is around 100 to 120 litres of water. This water could be used in the flush, for gardening, for washing cars and for other purposes. In a well designed and architected building, the drinking water is provided through Kerala Water Authority or it is stored in Special Tanks from where it is supplied to all the apartment units. You must always check with the builder about the water supply in your apartment before buying your flat. As a benchmark, think about this. An apartment building in Trivandrum with 100 units will require about 12000 litres of water in a given day. If the apartment is equipped to handle water recycling and it avoids unnecessary wastage, then this could have a huge implication on water availability through out the building even in times of drought or water shortage. 

Documents to be verified while Buying a Flat

The following things are important to consider while buying a flat. Usually before constructing a flat the builder can operate in two ways - either as the land owner or as the developer. As a customer you must consider if the land ownership documents are available with the builder or not. Other items include the total built up area (Saleable area), Common area etc. which the builder should inform you about. The builder should also obtain approvals from the local body, the Pollution Control Board, Fire and Rescue department's Fire NOC (No objection certificate), Local body building permit etc. 

The land title will be in possession of the builder and the customer can ask the builder for it to ensure that the land owner does not create an issue later about encumbrances. You must also understand if the land tax receipts, building permit certificate, local body occupancy certificate, fire noc etc. has been obtained by the builder or not. 

Once you occupy your apartment you would need to get receipts for electricity and water deposits, building tax etc. and the builder would do an ownership change to you. The builders liability really ends only when the apartment owners association has been formed and the maintenance of the flat has been handed over to the association. The hand over usually happens 3 to 6 months after the flat becomes ready for possession.