Most often real estate buyers come across terminologies that they are not exactly sure of. This can be tricky since lack of knowledge can be misleading. In this blog, we are to look at four such jargons & simplify them so that buyers can understand them to be well informed. A thing to note is that whatever the types of properties, be it an independent house, villa, apartment or a farm house, these terms are common and will come handy in your purchase decision.
Hills & Wills not only clarifies these terminologies hereunder but also explains its impacts in hill station properties through its vast experience in hill station real estate.
What is Carpet Area?
In simple terms carpet area refers to the area that can be covered by a carpet. In actual sense it refers to the area that is fit to use or the ‘net usable area’. A small catch is present however. Technically toilets don’t have carpets, but the area is still considered carpet area. Balconies may have carpets yet they are not considered for the calculation of carpet area. Feeling confused?
Let us simplify it for you
Carpet Area = Area of all rooms including bathrooms + Area of internal staircase, if any
Carpet area also includes thickness of internal wall. According to RERA (Real Estate Regulation and Development) Act guidelines, it is mandatory for developers to reveal the carpet area per apartment. This calculation of sale price will be based upon this area.
What does not come under carpet area?
- Area covered by external walls
- Balcony area
- Terrace area
What is built-up area?
Built up area is the sum of carpet area and area covered by the external walls which includes balcony, Mezzanine floors and also terrace.
In other words,
Built-up Area = Carpet Area + Area of Balcony + Area of External Walls
The key point to be noted that for calculation purposes, walls shared with other units are considered at 50% while other walls are computed entirely. If there are any mezzanine floors or private terrace they are also accounted in Built-up area.
*Mezzanine floors are intermediate floors between main floors of a building
How does Built-up area matters in hill stations?
There is something unique to hill stations in terms of design. Most often hill station properties will have an outhouse to accommodate guests and a caretaker room.
This is quiet common be it a Tamilnadu hill stations like Ooty, Kodaikanal, Coonoor, Kotagiri, Gudalur, Valparai, Yercaud, Yelagiri, Kolli hills, Courtallam or Karnataka hill stations like Coorg, Nandi hills, Chikmagalur, BR hills or Kerala hill stations like Wayanad, Munnar, Vagamon, etc. But these are not common in property at plains.
Where do the areas of these buildings fit in?
They are also considered under built-up area. By definition built-up area also includes all detachable habitable areas. If anyone wants to buy independent house, villa, farm house or apartment in Ooty, Kodaikanal, Coonoor and other hill stations, they should not forgot to consider this additional area and cost into account.
What is Plinth Area?
Plinth area is nothing but built-up area. While some developers use the term built-up area others call it plinth area. Both are the same and can be used interchangeably
What is Super Built-up Area?
Super built-up area is the sum of built-up area and the specific share of common areas. Typical common areas include Stairs (Outside the house), Lift, Lift Lobby, Corridor, Club house, Security room and Generator rooms.
For easy understanding,
Super built-up area = Built-up area + SHARE of Common facility Area
How about a swimming pool?
Isn’t that a common facility?
No. Although swimming pools are common facilities, they are not considered for the calculation of super built-up area. So, a property buyer needs to understand into what does not feature under super built-up area and you can’t be charged for it and taken for a ride.
What does not come under Super Built-up area?
- Walk ways
- Inaccessible flower beds
- Swimming pool
- Open sports facilities
- Weather sheds
- Lofts, etc
How does Super Built-up area matters in hill stations?
Hill station construction calls for revetment at various locations and dimension for the safety of buildings. Don’t get surprised, in some cases, it may cost close to the construction cost of the house. Revetments are covered under super built-up area. This is one of the main reasons ‘Why the hill station properties are costlier and rates of adjacent properties are dissimilar even if they are of same size and located in the same area”. The hill station property buyers need to understand this cost impact and can’t compare with the cost of construction with plains.
Having understood the different kinds of terminologies used by builders, developers and property owners to define the area of a house, villa, apartment or farmhouse, let us quickly look into how to calculate them
How to calculate carpet area?
Typically, carpet area is 70% of the built-up area.
For example, If the built-up area is 2000 Sq. ft, then carpet area would be 1400 Sq. ft
It is mandated by the RERA (Real Estate Regulation Act) to mention the carpet area clearly to avoid ambiguity between the buyer and promoter as it was the case in the past.
How to calculate built-up area?
Built-up area is considered to be 70-80% of the super built-up area.
For example, if the super built-up area is 1000 Sq. ft, then the built-up area is 700 – 800 Sq. ft
How to calculate super built up area?
Developers typically use a multiplier of 1.25 on carpet area to arrive at super built-up area. For instance, if carpet area is 600 Sq. ft then super built-up area would be 750 Sq. ft.
One must understand that this factor varies depending on the common facilities available in a project and the cost involved towards its development by the promoter. This multiplier factor varies between 1.15 and 1.50. It is the factor where the property buyers need to be careful in verifying and negotiating to get the fair price.
If you are looking forward to buy or sell property in hill stations, contact Hills & Wills at +91 9500 800 900 or firstname.lastname@example.org to know preciously about these terminology’s impact in hill station real estate.