Important Terminologies Related To Real estate
A home is such an important investment in life, and it is also surrounded by several documents that are either substantial or maybe trivial. You need to be controlled in real estate terms because real estate agents can be harmful. Carpet area, built up area, and super built up area are easily found on the developers’ and brokers’ website and they mostly deceive home buyers because there is little knowledge on these terms. It is very important that you do your research beforehand in such cases especially since you are being handed that information from your realtor. As I said earlier, the space that is acquired by you over the purchase is the biggest deciding factor in the value of a certain property. It can be understood in this manner, the space purchased increases so does the space. On the other hand, the inverse is also true. Still, it is less troublesome to assess the market price of land, apartments and flat are a little more intricate.
Carpet Area: The Amount of Space Which It Is Possible To Utilize
Formula to Calculate Carpet Area
Carpet area = Area of bedroom + living room + balconies + toilets – thickness of the inner walls
This is the most direct and easy to grasp. The flat area in the flat or the apartment that people can use to cover will form the carpet area which means that the carpet area is the actual area which you get for your usage in your daily life. The carpet area of the apartment/flat doesn’t cover the thickness of the walls parts built infrastructure around the apartment such as the lobby area the elevator the stairs the play area and many more.
If you are buying a project in a mega housing society, the builder will be obliged to tell you the carpet area of the unit under the provisions of the Real Estate (Regulation and Development) Act, 2016. However, it is always good practice to have a technical professional who understands the dimensions visit what they plan on purchasing.
Built-up Area: All You Need To Know About This Concept
What Is The Formula To Calculate Built-up Area?
Built-up area = Carpet area + area of walls + area of balcony
The built-up area is the area comprising the carpet area and the thickness of walls enclosing it. This also includes space occupied by a balcony or a terrace. As a rule of thumb, it forms around 70 to 80 percent of the total super built-up area of the property, however this ratio tends to vary according to the project or developer. On the other hand, there is a built-up area which is equivalent to the addition of 10 to 15 percent of the space to the carpet area.
Super Built-up Area: Understanding the Spaces that are Shared by Many
How to Compute Super Built-up Area: Formulae
Super built-up area = Built up area + proportionate common area
or
Super built-up area = Carpet area (1 + loading factor)
In most instances, it is the case that the housing society comprises of certain areas which are not exclusive to the buyer. Even though the buyer will incur a monthly maintenance fee for such areas, he also is expected to pay for a certain portion of these areas at the time of buying. In order to calculate the super built-up area, most builders normally apply the loading factor to the carpet area (which is parts of the property that are available to the buyer, but not fully owned).To the total built up area of the unit, the developer adds the area taken up by some of the common areas like corridors spaces, lift lobby areas, elevators etc to get the super built-up area of a unit. Other times, it is also the case that the builder includes general shared facilities such as swimming pools, gardens and clubhouses.
Conclusion: Making Well-Planned Choices
Considering carpet area, built-up area, and super built-up area can be beneficial for you while purchasing a home as it can enable you to make better decisions. Equipped with this knowledge, you will be able to validate whether the ideal space you envisage is indeed offered at the price point you desire or not.
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