J
Jasleen Sodhi
posted on 13 MayFloor-rise premium and PLC: Worth the extra lakh?
Floor-rise premium is mostly a builder's trick to squeeze more money, I'm convinced. I work in real estate, but buying my own 3BHK in Sector 24C, say from Vamana Group, feels different. Builders quote 90L-1.5Cr but then add 2-3L for higher floors ya park-facing. Is it genuinely worth it for resale value later? I'm eyeing something around ₹1.2Cr. Secondary market mein negotiation better hoti hai kya? Off the record, what's a realistic negotiation range in Chandigarh for new projects versus resale?
#floor-rise-premium#plc#secondary-market#negotiation#chandigarh-property
Comments
The floor-rise premium and PLC are a double-edged sword. For some, a higher floor with a great view, especially overlooking a green belt or the Sukhna Lake from Manimajra, is a luxury they're willing to pay for, purely for the living experience. For others, it's an unnecessary cost. For resale, it really depends on demand and supply in that specific micro-market at that time. If everyone wants a top floor, you might recover it. But if the market is slow, it's the first thing buyers try to negotiate down. So, it's not a guaranteed return on investment, more of a 'lifestyle' premium.
Profit toh chhodo, pehle possession mil jaye time pe! My builder in Saini Majra, after taking all the PLC and floor rise money, has delayed possession by over a year already. Ab lagta hai woh extra paise bas builder ki pockets mein gaye, na ki kisi 'premium' amenity mein. It's so frustrating yaar.
So, what happened to people who actually paid these premiums? Did anyone here manage to sell their premium flat for a good profit?
OP ne secondary market ki negotiation ka bhi pucha tha. Meri bhi yahi query hai. New projects mein toh builders hardly budge, but resale mein kya scene hai? Is it easier to get a better deal if you're buying directly from an owner?
Totally agree with U10. Resale mein negotiation space zyada hota hai. But please, please get all documents verified thoroughly. I almost got into trouble buying a resale flat in Rasulpur where the previous owner had some pending maintenance dues and property tax issues. It took a lot of legal advice and running around to clear it up. Always factor in legal and due diligence costs when going for resale.
Haan, secondary market mein negotiation definitely better hoti hai. New projects mein builder mostly fixed rates pe rehte hain, max to max 1-2% discount milta hai ya some freebies. Resale mein, especially if the owner is in a hurry, you can often negotiate 5-10% off the asking price, sometimes even more if the property has been on the market for a while. But be careful about documentation and hidden charges.
My experience in New Chandigarh was a bit mixed with this. I paid a PLC for a corner unit and a slightly higher floor (5th floor out of 12) because the builder promised unobstructed views and better ventilation. At the time, it felt like a splurge, almost ₹4 lakh extra. Now, two years later, I do enjoy the cross-ventilation, and the view is decent. But if I think about resale, I'm not sure if I'd recover that premium. Builders always make it sound like a great investment, but it's more about personal preference, I feel.
Honestly, in today's market, especially with so much inventory, recovering that 4 lakh premium is tough. The Chandigarh real estate market, particularly in newer areas, is seeing some stagnation. Buyers are more price-sensitive now. Unless it's a truly unique, super high-end property, PLC often gets absorbed or discounted during resale. I'd rather save that money for interiors or registration costs.
So, for you, it was more about the living experience than the potential resale value? Which floor was it exactly?
I'm a first-time buyer and this floor-rise premium concept is so confusing. What exactly is PLC? Is it different from floor rise? Builders use so much jargon, it's hard to keep up. Meri budget bhi tight hai, toh har lakh matter karta hai.
PLC stands for Preferential Location Charges. It's basically an extra charge for a property that has a 'better' location within the project – like park-facing, corner plot, higher floor, or even near the clubhouse. Floor-rise premium is a type of PLC, specifically for higher floors. So, yes, they're related but not always the same thing.
Totally agree with the OP! Yeh floor-rise aur PLC toh bas ek tareeka hai extra paise nikalne ka. I was looking at a project in Mullanpur Garibdass, builder ne seedha 2.5 lakh extra maange sirf 8th floor ke liye. Kya difference aata hai itna ki itna charge karein?
Exactly! Besides the view, are there any *actual* benefits to higher floors that justify such a premium? Like, better air quality, less noise, or something that genuinely impacts living or resale? I'm also confused if it's just a Chandigarh thing.
Haan bhai, same experience! Builder ne toh bola ki top floors par view better hota hai, but who pays 2-3 lakh for just a view?