Ravi,
Excellent choice re nobody below you! The good news is that a lot of bass tends to migrate downward rather than up to the tenants above you. Depending on the age of the building, it may have thick walls and you'll be okay. Most 80-year-old houses and apartment buildings are more solid and soundproof than modern buildings.
The bad news is that if you can hear muffled voices through the walls from the people beside you (or from above), you won't be able to blast your system. If all you hear are occasional footfalls, then you should be okay.
Regards,
