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Definition of apartment

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1:16 am
September 24, 2008


ClaraPaula

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An apartment is a self-contained housing unit that occupies only part of a building. Apartments may be owned (by an owner-occupier) or rented (by tenants). The term “apartment” is favored in North America, whereas the term “flat” is sometimes, but not exclusively, used in the United Kingdom and most other English-speaking areas and Commonwealth nations. Some apartment-dwellers in Tripunithura own their own  Apartment in Tripunithura either as co-ops, or in condominiums. Cops are in which the residents own shares of a corporation that owns the building or development and condominiums are those whose residents own their apartments and share ownership of the public spaces. Most apartments are the buildings that are designed for a purpose, but large older houses are sometimes divided into apartments. The word apartment connotes a residential unit or section in a building. In some locations, particularly the United States, the word denotes a rental unit owned by the building owner, and is not typically used for a condominium.

Real estate companies are becoming more efficient in project designing and even procurement strategies. They are trying out new strategies improve margins. While some are procuring expensive capital goods directly from manufacturers, others are going to China to get high quality yet cheaper material. Real estate developers have seen their margins shrink progressively in the last one year with input costs going up tremendously. Input costs for cement and steel have gone up at least 20-25% in the last six months. According to an Ernst and Young survey on real estate developers titled ‘Realty Pulse', a majority of developers foresee the Indian real estate sector embarking on a high-growth trajectory in the long-term, despite the momentary slowdown witnessed over the last 12 months. The qualitative survey conducted by Ernst and Young across six prominent cities comprised of all the metropolitan cities.
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