Carpet area
Houses for the middle-income group will have a wall-to-wall carpet area of up to 816 square feet, a preferred standard measurement approved by the Union ministry of housing. If one calculates the additional super built-up area, it would be 1,101 square feet.The municipal corporation or urban development authorities deduct 40% from a land owner for [...] Continue Reading »
A 1,500-sq-ft flat can grow to 2,500 to 4,000 sq ft and cost Rs 10 crore to Rs 16 crore. The main intention is to amalgamate extra spaces with the original carpet area to create one large flat. Law-abiding citizens who buy such flats become criminals and, therefore, corrupt civic officials can keep returning to [...] Continue Reading »
Today real-estate projects in Gujarat have the highest quantum of super-built-up-area (SBUA) in the country, even more than some of the Tier-I cities like Delhi, Kolkata and Bangalore. Developers in the state employ the maximum SBUA, which stands at 50% of the carpet area (defined as the actual area the buyer uses) of both residential [...] Continue Reading »
“Buyers who want more carpet area and want to stay within city limits are opting to go for resale properties. With property prices at an all time high now, the market is seeing a slump since eight months and there is only 2-5 per cent buyers of the luxury home segment. People are choosing to [...] Continue Reading »
The builder lobby which has till date cocked a snook at the Civic Body’s attempts to stop malpractices in the real estate sector, will now have a tough law to deal with. Monsoon session may see a policy that imposes stricter punishment on builders who quote built-up area prices, developers are not amused. This monsoon [...] Continue Reading »
The Confederation of Real Estate Developers Association of India (Credai) has decided to make it mandatory for all members to mention carpet area in their brochures and sales agreement. The move aims at bringing transparency in the sector. Confederation of Real Estate Developers’ Association of India (Credai), which has over 10,000 builders as member across [...] Continue Reading »
