5 Crucial Terms Must Know Before Buying A Flat

The cost of your flat is generally based on its saleable area. But there are many ways to explain and calculate the saleable area. This can have an enormous impact on – the actual area you get, or your total purchasing price. However, these terms are not certainly defined in any regulation book, knowing what they mean in order to help you:

Built-up area
Built-up area is the total area calculated on the outer line of your flat, including balcony, terrace, and others. It refers to the usable (or carpet area as defined below) of your flat plus the area engaged by the walls and columns of your flat plus a few more. In simple words, the built-up area will normally include percentage of:

  • Balcony or Terrace
  • Roof area
  • Mezzanine floor
  • Detached habitable areas like servant’s room, etc
  • Column & Walls
  • If shared with another unit – calculated at 50%
  • If not shared with another unit – calculated at 100%

Carpet Area
Carpet Area is the area surround within the walls of your flat. It refers to the area inside your house on which you can practically put a carpet and physically move around. The carpet area also includes a portion of percentage of other areas – such as balcony, terrace or verandah – which many people generally exclude from their calculations. This is one of the most common mistakes that anyone can make when calculating the carpet area – which can result in your winding-up with a much smaller carpet area than you expected. Depending upon your builder, the carpet area of your flat can be varying from 50-80% of the super built-up area as quoted to you by your builder. Hence, you should always firstly ask your builder for the ratio of carpet area in context to the super built-up area.

Super built-up Area
Super built-up Area or saleable area is the total built-up area of your flat plus your Proportionate share of the common amenities in the complex of your building. It is also called the saleable area. Proportionate share here cites to the sum total of all common areas divided by the total number of flats in the complex of your building. So the super built-up area includes:

  • A percentage of the double height areas & terraces
  • Entrance Lobby
  • Corridors
  • Staircases
  • Lift machine rooms, generator rooms, electrical rooms, etc
  • Gas Banks, Garbage Rooms
  • Club House
  • General Toilet Facilities for Servants & Maintenance Staff.

Per Square Foot Rate
Per Square Foot Rate is the rate measured as (per square foot) quoted to you by your builder or real estate agent. It is generally applied to the super built-up area in order to determine the price of your flat. The important thing to remember is that the per-square-foot rate of your flat is generally based on the super built-up area (also known as saleable area), which includes not only the carpet area of your flat (infact the usable area inside your flat) but also some additional areas of – your flat (like balcony and terrace area) and building complex (such as lobbies, staircases, passages, etc.).

Loading
Loading is termed as the actual difference between the super built-up area and the carpet area of your flat. It is utilized to add constructed spaces not exclusively granted to you. It also includes some shared areas like lobbies, lifts, staircases and amenities, as well as a part of your terrace and balcony.  If your residential project does not have multiple amenities, the loading factor will be not that much big. In most of the cases, a loading factor of 1.30 is considered abundant. However, you should know that few builders can spot to very high loading – of 40-50%. This can seriously minimize the carpet area of your flat to almost half of its quoted size. Therefore, it is always important to know in advance the loading factor of your flat.