There is no one way to figure out how big a piece of land is. Instead, there are three ways to do it. They are the Carpet area (RERA carpet area), the Built-up area, and the super built-up area.
Developers and builders had many cases of fraud and cheating because there were many ways to do it. People were upset that they didn’t get as much space as they were promised.
To solve this problem, the Real Estate (Regulation and Development) Act, 2016 (RERA) has a rule that says a builder must give a price quote based on the RERA carpet area, not the super built-up area.
There can be a lot of confusion about these terms once you decide to buy an apartment. Let’s look at what RERA carpet area means, how to use the RERA carpet area calculator, and what the difference is between super built-up area and built-up area.
What is the area of the RERA carpet?
According to the Real Estate Regulatory Authority (RERA), the carpet area is the net usable floor area of an apartment plus the internal walls. This does not include the size of the external walls, service shafts, private balconies or verandahs, or private open terraces.
In this case, “exclusive” means that the allottee is the only one who will be able to use the open terrace site. When selling a property, all developers and builders must use the RERA carpet area and not any other type of area.
- If the project is still being built and the carpet area changes (increases or decreases) while the property is being built, homebuyers will get their money back.
- If there is a decrease, the builder will return the extra money plus interest every year. The money must also be returned within 45 days.
- If the area goes up, the buyer has to pay the difference. However, RERA has set a cap of 3% on how much the area can go up.
RERA’s Effect on the Carpet Area
Since the RERA carpet area has been put into place,
How clear the real estate market is
There are rules for trade and business.
It helps people trust and believe in each other
Brochures and other marketing materials must list the RERA carpet area.
The price should be based on the size of the RERA carpet.
Consideration will be changed if there is a difference.
How big is the carpet?
In general, an area where a carpet can be laid is called a “carpet area.” In technical terms, it is the area of an apartment that can be used, minus the area covered by outside walls, the area under service shafts, the area of a private balcony or verandah, and the area of a private open terrace. Pros of Having a Home Inspection. Get Best properties on Bricksfamily.com
How is the RERA Carpet different from the Carpet Area?
Now that we know what RERA and carpet area mean, the only difference between them is the thickness of the walls inside.
In RERA Carpet Area, wall thickness is also taken into account.
So, there is about a 5% difference between the two areas of the carpet. Most of the time, the RERA Carpet area is 5% bigger than the carpet area. For instance, if an apartment’s carpeted area is 800 square feet, its RERA carpeted area would be 840 square feet.
Find More latest Real estate news and india market insight , lifestyle Decor .