In the world of luxury builder floors, third floors with terraces have always held a special charm. But in recent years, particularly post-COVID, these spaces have become even more sought after, commanding a premium of about 20%.

This premium has doubled from pre-COVID times when it was around 10%, reflecting the heightened demand for open spaces.

Why the Premium? 

With a terrace, buyers gain 100% more area, allowing them to create versatile outdoor spaces—something incredibly valuable in an urban setting like South Delhi.

Despite the challenges of extreme weather conditions, pollution, and seasonal limitations, terraces offer the flexibility to create personal retreats, whether that’s a garden, a bar, or a dedicated play area for kids and pets.

High Demand, Limited Availability 

The demand for third-floor apartments with terraces has surged so much that they’re rarely available on the open market.

When they do go up for sale, it’s usually early in the construction phase, often even before the builder has registered the property in their name.

Many buyers secure these properties well in advance, recognizing that such opportunities don’t come around often.

Builders are aware of this demand and often choose to hold onto the third floor until the building is complete, ensuring they maximize their return on these prized units.

Builders’ Strategies and the Benefits of Waiting 

By holding the third floor until construction is complete, builders can avoid giving early-buyer discounts.

Those who buy early often expect a discount for paying upfront, but by waiting, builders can avoid these negotiations and take advantage of rising prices.

Additionally, since third-floor units with terraces are considered the best floors, holding onto them gives builders flexibility as the market changes.

Some builders go further to enhance these third-floor units by adding unique features, such as an internal staircase connecting the third floor to the terrace or a private lift that opens directly into a private lobby.

These touches make the space even more desirable and command higher premiums, as they cater to buyers looking for exclusivity and privacy.

The Appeal of Terraces in South Delhi’s Climate 

While terraces can only be used during certain parts of the year in Delhi’s climate, their appeal remains strong.

Even with hot summers, cold winters, and the monsoon season, terraces are highly customizable, providing potential for luxury additions like outdoor kitchens, mini-bars, and green spaces.

For many, the versatility of these spaces outweighs their limited usability.

The terrace becomes an extension of the home, offering space for gatherings, play areas for children and pets, or even a quiet retreat for a morning coffee.

Although a small window for ideal terrace usage exists, the lifestyle benefits they bring make them highly desirable for luxury buyers.

Conclusion 

The allure of third floors with terraces in South Delhi’s real estate market is undeniable.

With post-COVID demand showing no signs of slowing, these premium properties remain highly coveted. For those lucky enough to secure one, it’s more than just a home—it’s a personal sanctuary in the sky, an oasis of open space in a bustling city.

Whether you’re looking to buy or simply want to understand why these units are in such high demand, third floors with terraces are the true stars of luxury real estate today.