| Basement space – residential and commercial | | | | provisions applicability subject to court scrutiny. |
| property in india is in demand suddenly, but there are a | | | | Earlier, legally speaking, basement use by law was |
| number of things you should keep in mind before | | | | restricted to storage space or parking and though they |
| buying one. | | | | were aware of the fact people used it for commercial |
| Want you own place in a smart locality but put off by | | | | purposes – knowing well that the authorities could |
| the prohibitive cost? Wait, there’s still hope for you | | | | take action against misuse of property and seal the |
| – if you’re willing to go underground and into a | | | | place. |
| basement. Space below the ground floor usually goes | | | | Another great advantage a basement has in a city like |
| cheaper – and is preferred by professionals and | | | | Delhi, where temperatures remain high for about eight |
| those who under civic laws are permitted to carry out | | | | months, is that it’s relatively cooler when compared |
| commercial activity there | | | | to other floors. Also, largely due to its proximity to the |
| In fact, basements, which till some years back were | | | | ground level, most basements have hindrance-free |
| seen as a dumping space for useless furniture, etc, are | | | | access. Many also have large entry doors and are |
| slowly becoming hot properties in India. There are | | | | relatively free of disturbances – doors banging, |
| several reasons for this – the first and foremost | | | | people coming and going as they please |
| being costs. When it comes to a building, the basement | | | | However, basements have their negative points. The |
| cost is lowest compared to the other floors – | | | | biggest disadvantage of living or working in one is that |
| almost 50 per cent less than first floor prices, | | | | a basement by law cannot have a bathroom or |
| depending on area and space. | | | | kitchen. If you do have one you’ll face the problem |
| The ground floor or what’s referred to, as | | | | of water flowing back as there’s no provision here |
| ‘showroom space’ in commercial areas is the | | | | for letting water flow down. |
| most expensive, followed by the first floor and then | | | | Water seepage is another problem – especially |
| other floors. The top floor of a building – if built | | | | during the monsoons, leaving the place damp, with |
| keeping luxury in mind and with added facilities, can | | | | flaking walls and impossibly smelly. If you are buying |
| also fetch a good price, though the American | | | | such a property make sure the walls have been |
| penthouse has yet to gain popularity in India as | | | | waterproofed. This treatment can be very expensive |
| premium property. | | | | so make sure it’s done before you buy or you’ll |
| Another plus for basements both for self use and | | | | be saddled with additional expenses. |
| investment is that under the new Master Plan it an be | | | | Also, check if there’s provision for a basement in |
| used for select professional activity by doctors, | | | | the sanctioned building plans, and the specified size. If |
| lawyers, architects, chartered accountants, company | | | | the builder has created additional space then it’s |
| secretaries, cost and works accountants, engineers, | | | | unauthorized. |
| town planners, media professionals and documentary | | | | For the rest, stick to routine scrutiny of title deed, fully |
| filmmakers. However, one should note that the Master | | | | payment of electricity, water bills and property tax. |
| Plan matter is pending decision in the courts, its | | | | |