In our childhood, we have learnt that area of a rectangle is simply length x breadth. However, in the complex (and sometimes murky) world of real estate transactions, calculating the area of property you own can be a very involved process.
Developers and Builders have come up with various terms to mislead, confuse or take advantage of buyers.
- Carpet area, as the name implies, is the horizontal space within the confines of the external walls of your individual home unit.
- Built-up area is the carpet area + balcony + half of the terrace area + plinth area (horizontal footprint of vertical elements like walls, windows, doors and AC ducts). This is generally 10% more than carpet area.
- Super built-up area is the built-up area + a share/portion of common areas like corridors, lifts, lobbies, entrances, passages, security-outposts, DG room etc, and amenities like clubhouse, amphitheatre, gardens, swimming pools and play-areas. This is generally 25% more than built-up area.
It’s important to know how these terms will make a difference in your transactions, and lifestyle.
- Purchase: The difference between the built-up area and super built-up area is called loading factor. In most apartment complexes, this is approx. 25% while large villa projects with abundant greenery can have a large loading factor. Builders just quote on super built-up area, which is at an advantage to them.
- Sale: However, at the time of sale, one will realize that the saleable area is actually lesser than the super built-up area, which is at a disadvantage to the home owner.
- Maintenance: Maintenance is generally calculated on the super-built up area, so villas in a large gated community can be more costly from a maintenance perspective.
End of the day, one’s buying decision depends on budget, desired lifestyle, and negotiating power at the time of purchase. Bear in mind all of these facts to ensure a good deal.