Get Familiar with Property Terms
Moneycontrol.com |
Aug 24, 2006
Moneycontrol.com
Some finer points, which one usually ignores while buying a flat generally adds to the buyer's disadvantage. To a buyer's surprise, the area of the flat promised is not what they get after possession. Therefore, next time, when you buy a flat, ask the builder what is the exact area that he will be giving you after possession and then negotiate on the same terms.
Terrace, lobby, lift and balcony are some areas of flats, which cannot be used as a stand-alone entity but you are required to pay for them. While buying a flat, you should know the meaning of the terms like carpet area, built up area and super built up area.
Carpet area is the wall-to-wall area or the area you can actually use. The area will be the same, when the carpet is laid on the floor. The built up area includes both, the carpet area and the area taken by the walls i.e. the width of the wall. The super built up area is the whole area of the flat, which also includes the common area taken by the lobby, staircase and the elevator.
The most confusing of them is the super built up area because there are no specific instructions for builders as to what area should or should not be included, while calculating the super built up area.
Taking advantage of this confusion, quite often the builders include the area of the terrace, security room and pump room, while calculating the total built up area. Although, these places are not used for living but you still have to make a payment for maintenance, in accordance with the total built up area. Though, the difference between the carpet and the super built up area should be between 10% to 15% sometimes it exceeds to 30% to 50%.
Hence, while comparing two flats you should always compare the carpet area and the super built up area differently ie. the carpet area to carpet area and the built up area to the built up area. If the sale agreement is according to the super built up area, then make sure that the builder also includes the break up list of the built up area and the carpet area.
Only if you keep these minute details in mind, you will own the flats on your terms rather than the builder's terms.
Some finer points, which one usually ignores while buying a flat generally adds to the buyer's disadvantage. To a buyer's surprise, the area of the flat promised is not what they get after possession. Therefore, next time, when you buy a flat, ask the builder what is the exact area that he will be giving you after possession and then negotiate on the same terms.
Terrace, lobby, lift and balcony are some areas of flats, which cannot be used as a stand-alone entity but you are required to pay for them. While buying a flat, you should know the meaning of the terms like carpet area, built up area and super built up area.
Carpet area is the wall-to-wall area or the area you can actually use. The area will be the same, when the carpet is laid on the floor. The built up area includes both, the carpet area and the area taken by the walls i.e. the width of the wall. The super built up area is the whole area of the flat, which also includes the common area taken by the lobby, staircase and the elevator.The most confusing of them is the super built up area because there are no specific instructions for builders as to what area should or should not be included, while calculating the super built up area.
Taking advantage of this confusion, quite often the builders include the area of the terrace, security room and pump room, while calculating the total built up area. Although, these places are not used for living but you still have to make a payment for maintenance, in accordance with the total built up area. Though, the difference between the carpet and the super built up area should be between 10% to 15% sometimes it exceeds to 30% to 50%.Hence, while comparing two flats you should always compare the carpet area and the super built up area differently ie. the carpet area to carpet area and the built up area to the built up area. If the sale agreement is according to the super built up area, then make sure that the builder also includes the break up list of the built up area and the carpet area.
Only if you keep these minute details in mind, you will own the flats on your terms rather than the builder's terms.
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