Q:
If carpet area is 1000 sft, the buyer is paying for a saleable area of 1650-1700 sft !! Are such high loading factors permitted? Car parks are being sold under other names eg Infra charges etc even though the SC has ruled they have to be on basis of flat area. Please guide.
Hi Pratt,
As per your queries
Saleable area= 1700 sq-ft.
carpet area= 1000 sq-ft.
The formula to be used is given below:
Saleable area=carpet area(1-loading factor)
1700=1000(1-loading factor)
1.7=1-loading factor
Loading factor=0.7 or 70%
However, builders usually calculate the loading area as below
1000=1700(1-loading factor)
.58=1-loading factor
Loading factor=0.42 or 42%
This is not loading factor. It is the loss factor.
However, the first calculation is right and tells us that for every Rs 1 invested we get only Rs 0.58 worth of area.
Hi Rajatrawal - thank you for your clarification. However, my question remains unanswered - is such a high loading factor (not loss factor) justified, or is it just a question of market dynamics and whatever the builders can get away with - without any legal controls and restrictions?
8th July 2015
Hi Pratt,
Loading factor varies from place to place and project to project. In residential property it is generally 25-35% of super built-up area.
According to CREDAI, Carpet area of unit is calculation as internal wall to wall measurements of all Rooms, Internal Passage, Toilets, Store Room etc. (without considering plaster thickness, skirting and column offsets) with addition of the internal area of Balconies and area of projection of Cupboards upto lintel level. No architectural features should be taken in Carpet Area Calculation. Terrace provided at same level should be calculated separately.
Hi Anushka, Thank you for your reply... however, I have to disagree with your initial statement... in Mumbai, for new projects, the loading factor EVERYWHERE is between 60%-70% - it does not vary from project to project (A few years ago, before the DRC regulations it used to be a more reasonable 35% or thereabout). However, my question was - is such a high loading factor justified or is this just a question of market dynamics and a function of whatever the builders can get away with, without any legal restrictions?.
8th July 2015
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