Buying a property is generally presumed to be a tedious process consuming both time and energy. What adds more to the tediousness is the terminology which one encounters the first time. While planning to buy a property, the first two things to be planned is what is the budget and how much area or size of property is the actual requirement.
Once this planning is done, one can start surfing, either online or offline, for the exact property required.
Suppose, the property size needed is of 1000 sft.
Then, one finds a property of so called 1000 sft.
But then it is told that is its super built-up area and that has a relatively lesser built-up area!
Nonetheless, this has also got an even lesser carpet area!
How to get rid of these confusions?
Many questions arise suddenly in the buyer’s mind.
- Why so many different sizes? What do these different sizes mean?
- Will I get 1000 sft. as my useable area or not?
Let us see what a buyer faces here.
The promoter or your broker says to you that you will buy on super built-up area only. But you will get the carpet area!
There are even such scenarios where you get to know the super built-up area in writing. But your carpet area is not even mentioned.
We need to understand the meaning of these terms and also the implication on the property size and useable area.
When a size is referred to as the “Carpet Area” then that is the size of a carpet which can be spread inside that property. This is for your exclusive use only.
Your exclusive area also includes the internal and external walls of your flat. Now, the size including these walls will be termed as your built-up or covered area.
Most often when one buys a flat he simultaneously buys a proportionate share of other service and common areas of the property which are used by all the co-owners or residents. By adding this proportionate share to your flat’s built-up area you will get the super built-up area.
Therefore, we may say, that the super built-up area actually denotes the summation of the exclusively owned area and the proportionate share of the total common areas.
Now, let us discuss the most talked about realty bill – The Real Estate (Regulation and Development) Act, 2016. The implementation of this bill, often referred as RERA, will bring regulations to this industry making things more transparent to everyone.
RERA stresses on declaring the carpet area of a property at the outset while selling it. And, in a way, RERA redefines carpet area. The traditional carpet area means the inner wall to inner wall area of any property excluding all inner and external walls. The carpet area as per RERA will mean the inner wall to inner wall area including all inner walls and excluding external walls, balcony area, open terrace or any shaft area. When your inner walls are included in your flat area then altering internal walls will not affect in the carpet area of your flat. Thus, this will define your carpet area better than the traditional carpet area.
Many developers are already following the best of the practices since long. Now the implementation of regulations and the public awareness of the same will solidify the market sentiments as this will bring in transparency.
The rate factors might vary as per the RERA-wise carpet area or the most practiced super built-up area. However, the total cost of the property is not going to get affected with the implementation of RERA if not the prices increase as certain cost factors of the developers might increase in order to comply with the numerous regulatory requirements according to RERA.