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Azeagaia Development Private Limited is a prominent Indian real estate firm, promoted by Singapore-based companies through the automatic foreign direct investment route (FDI), having considerable experience and expertise in real estate development market and advisory services across the world. Our area of specialization lies primarily in the development of Residential Townships, Commercial Buildings and Developmental Projects.
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Important Terms You Must Know Before Buying A Flat



Important Terms You Must Know Before Buying A Flat

Looking to buy a property and still confused about the most commonly used jargons relating to property area?

 

As a potential buyer, understanding the terminologies is vital to avoid mistakes that might impede your probabilities of attaining the right property you desired. The often used jargon is Carpet Area, Built-Up Area and Super Built-Up Area that have got every prospective buyer logged on to the internet to look up for the definitions. In fact, most dishonest and unscrupulous proprietors often exploit buyers because of their lack of information about these terminologies by charging them higher prices. So, it is important that you do your homework before you invest in buying your desired property. The price of your flat is usually based on its saleable area. But there are many ways to interpret and calculate the saleable area. This can have a huge impact on (i) the actual area you get, and (ii) your total buying price.

 

Although these terms are not clearly defined in any statute book, knowing what they mean will help you to act smarter and not get misled into buying a flat smaller than you expected. Let’s clarify your confusion regarding the commonly used jargon.

 

  1. Super Built Up Area:  Super built-up area is the built-up area plus proportionate area of common areas such as the lobby, lifts shaft, stairs, etc. The built-up area along with a share of all common areas proportionately divided amongst all unit owners makes up the super built-up area.

 

  1. Built-up Area: The built-up area is the comprehensive area which is the sum of the carpet area and the thickness of the walls of the housing unit. The area spanned by the balcony or terrace is also counted in this. Mostly, it constitutes about 70 to 80 percent of the super built-up area of the property. It is to be noted that the percentage may vary with the project or the developer. Conversely, an addition of 10 to 15 percent space to the carpet area becomes the built-up area.

 

As evident at Azea Botanica lets select the option of 1655 sq. ft. which is a 3 BHK Flat.

For calculating the Built-Up Area, we have a Super Area of 1655 sq. ft. Therefore the built-up area will be approx. 80-85 percent of Super Area (1655 sq. ft.). i.e. 1375 sq. ft.

 

Built-Up Area = Carpet Area + Area of Walls + Area Of Balcony

 

  1. Carpet Area: It is the area enclosed within the walls of your flat. It refers to the area inside your house on which you can actually lay a carpet and physically move around. But that’s not all. The carpet area also includes a certain percentage of other areas – such as balcony – which many people tend to exclude from their calculations. This is one of the most common mistakes you can make when calculating the carpet area which can result in ending up with a much smaller usable or carpet area than you expect. Depending upon your builder, the carpet area of your flat can be anywhere from 50-80% of the super area quoted to you by your builder. Therefore, you should always ask your builder for the ratio of carpet area to the super built-up area. The higher the ratio of carpet area to the super built-up area, the more space you get inside your flat.

 

When it comes to gearing and properties, it can get rather complicated especially if you’re new to the world of property investment. However, there’s no need to be confused about property jargon or to feel silly if you’re not exactly sure what something means. We are happy to help and there really are no such things as stupid questions. We’ve been assisting first home buyers also and we can help you too.