Chapter 20 Question 015

Why are the most expensive rooms in high-rise buildings in India on the upper floors, while the most expensive rooms in low-rise buildings are on the lower floors? (Panka Bandarani) In high-rise apartment buildings in Mumbai, the monthly rent for an apartment increases by 1%︱3% as the floor rises.Assuming the apartment is on the 20th floor, it is 5%︱15% more expensive than the 15th floor.However, in apartment buildings up to four storeys, the situation is just the opposite.Rooms on the first and second floors are much more expensive than those on the third and fourth floors.Why is this so? In general, the higher the floor the rooms definitely have better views and less noise from the street.Obviously, because of these advantages, rents for apartments on higher floors in high-rise buildings are higher than those on lower floors.But in low-rise buildings, the benefits of high floors are the same. Why is the rent upstairs cheaper than downstairs?

This is due to India's special national conditions. According to the law, buildings below four floors do not need to install elevators.Therefore, in low-rise buildings, residents living on higher floors have to carry large and small bags up the stairs.And because even if you live upstairs, the view is not very good, and you can even hear the noise from the street, so, in low-rise buildings, if the rent is the same, most residents will choose the lower floor.There is a high demand for rooms on lower floors, which is why their rents are high.