Even while some buyers may have the choice of buying flats or villas, the fundamental distinctions between the two frequently influence which choice is made. For instance, the critical deciding factor may be the cost disparity between flats and villas in Bhubaneswar.
The builder would likely be limited to 2,000 square feet if he attempted to build a villa in this location. The units would then be priced so that the builder would not have to suffer a loss as a result.
Villas typically appeal to bureaucrats, NRIs, celebrities, and other people who wish to live opulently.
Villa vs apartment: Price range
According to data from Housing.com, Bengaluru, India’s technology hub, has an average property price of Rs 5,194 per square foot. This indicates that for Rs. 50 lakhs, you might get a respectable flat in the city. However, the average cost of a villa in the city is Rs 17,500 per square foot. According to postings on our platform, a villa in this housing market may cost a buyer up to Rs 17 crores.
The base pricing for villa developments in Gurugram ranges from Rs 8,000 to Rs 16,000 per square foot, and villas typically cost between Rs 5 and Rs 10 crores. In contrast, the average unit price per square foot in Millennium City is Rs 5,236.
According to Square, the beginning price for a modern villa for sale in the Bhubaneswar area is Rs 1 crore and can reach Rs 12–13 crores. On the other hand, the beginning price for villas in the same market is no less than Rs 4 crores. Customers can purchase a good 2BHK property in either of these cities for fewer than Rs 50 lakhs. Developers occasionally collaborate with reputable hotel chains to build a luxurious complex of standalone luxury flats that cost roughly the same as villas outside the city, the author writes.
A villa and an apartment require quite different amounts of general maintenance and upkeep, which is another significant difference. The maintenance is less expensive the smaller the area is, and vice versa for larger spaces. Additionally, while the residents’ welfare association (RWA) is responsible for maintaining apartment buildings, it is the owner’s responsibility for villas.
According to Square acre, “Independent villas are typically owned by the section, which may be able to hire a crew of maintenance and cleaning employees.” Villa-based structures are frequently found in villas in Bhubaneswar neighbourhoods because vast expanses are a major necessity for their construction. This is the exact reason there aren’t any new villa-based projects in high-density cities like Mumbai and Delhi. Apartments, on the other hand, provide a greater selection of locations, both inside and outside the city borders.
Villas vs apartments: Scope for customisation
Villas provide users with a great deal of customization. These are simple to change to reflect shifting fashions and desires in the home industry. In an apartment, this kind of independence is not conceivable. In a flat, there can be no simple expansion or reconstruction.
Return on investment from apartments and villas
Apartments come out on top in this category with ease. Nuclear families make up the great majority of home buyers in India, and smaller arrangements like flats in an apartment are perfect for them. Regardless of where they are located, apartments would be easier to rent because of how affordable they are. Villa projects are an exception to this rule. In addition to the basic worth, villas always have a low rental yield due to their pricey maintenance. Knowing the types of settlers in your area is crucial if you want your real estate investment to produce rental income.
Pros and cons of investing in apartments
|Comparatively affordable||Limited space|
|More popular in the rental market||Limited privacy|
|Easier to exit||Negligible land ownership|
|Better security||Not easy to customise|
|Easy to manage||Not ideal for large families|
|Ideal for small families||Lower levels of hygiene|
Pros and cons of investing in villas
|High levels of privacy||Highly expensive|
|Luxury of space||Private security required|
|No overcrowding||May only be available in suburban locations|
|Land ownership||Low rental yield|
|Easy to customise||Less popular in the rental market|
|High levels of hygiene||Hard to exit|
|Ideal for large families, celebrities||High maintenance|
The price difference between an apartment and a villa.
Prices for villas are higher than for apartments. They are even more expensive than flats that are considered to be high-end luxurious.