You would often come across brokers, real estate agents taking about carpet area and you are left wondering what exactly does it mean? Certainly it is not related to your carpet!
Carpet area is nothing but the net usable area inside the house, while built up area consists of carpet area; area covered by inner and outer walls and additional areas mandated by the authority such as flower beds, dry balcony etc.
Then, what is per square foot rate?
Per square foot rate quoted by the developer is typically applied on the super built-up area to determine the value of the flat. This is the reason super built-up area is also sometimes referred to as the saleable area.
Inaccurately reported square footage is the subject of numerous complaints by home buyers. A small percentage of cases involve giving incorrect information, but a larger number of complaints occur simply because agents and sellers don’t know how to measure a home’s square footage.
How can knowing the above terms help me in buying a flat?
This break up is extremely essential as builders can place anywhere from 65%-85% of the super built-up area as carpet area. That means, if the price is quoted as Rs. 1,000 per sq ft super built-up area, the carpet area could be anywhere from Rs. 650 per sq ft to Rs. 850 per sq ft. If this break up is not mentioned in the agreement, demand that the vendor/ builder mention it in the sale deed.