Knowledge Centre

Flat versus House -What to Buy This Diwali?

Diwali holds a special significance in the lives of Hindus. It is considered highly auspicious and it is believed that any major purchases such as gold, car, or property made during Diwali will bring prosperity. Especially, if it is done on the day of Dhanteras.

As buying a new home is one of the biggest investments we make in a lifetime, a lot of people consider Diwali the most favorable time. In order to cashin on the demand, many real estate builders, too, roll out variouslucrative offers in the form of free gifts as well as discounts at the time of Diwali.

Considering that the real estate market is going through a slowdown and prices are at an all-time low, this Diwali is indeed the perfect time to buy your dream home.

Flats versus Independent House?

Now that you have planned to buy a home this Diwali, the next major decision is to decide whether to go for an independent house or buy a flat. Let us compare what each kind of property has to offer before coming to a decision


An independent property is more expensive than a flat for obvious reasons. You will have to pay for the land in case of the independent house while the same is divided among different owners in the case of a flat.


An apartment property comes pre-installed with amenities such as security, enough parking spaces, power back-up, water systems, CCTVs and fire safety mechanism. Most modern-day apartments have RWAs that take apartment security very seriously. However, you will need to arrange for all these amenities yourself in case of an independent house which can further add to your expenditure.

With amenities like smoke detectors and fire alarms in place, you just need a fire insurance to ensure you are covered.

In fact, if you wish to buy a theft insurance, the premium price will be significantly lower in case of an apartment as compared to a house considering the high level of security here.

Property Maintenance

When you buy a house, your work does not end there. Once you start living in the house, the property will need constant effort and cost for maintenance and cleanliness.

Most apartments have a fixed monthly maintenance cost. Because of the pooled resources in a residential complex, the cost of maintenance service reduces drastically. Also, most apartment complexes have an in-house plumber and an electrician available 24/7.

On the other hand, the cost of maintenance in an independent house can add up to become a huge sum.

Mortgage Loan

In case you need to opt for a loan, getting a loan for an apartment is easier than for an independent property. Banks often have a list of sanctioned projects where buyers can easily get the loan approved whereas, in case of independent property, you will need to go through a longer process of paperwork.

Same is the case for a home loan. It is easier and cheaper to get a home loan for an apartment flat. This is because it is easier to evaluate the value of a residential complex flat than an independent house.

Clearly, buying a flat makes more sense in today’s time and era where security and costing are two major concerns. So book you flat this Diwali and move to your dream home.

Awards & Recognition