It's a known fact that there isn't any
universally accepted method for property calculation. But experts point
out that buying a flat on the basis of the carpet area is a wise move.
After all, the carpet area is the actual space that a buyer is going to
use, right?
The relationship between a builder and
home-buyer is indeed a complex one. There is always a bone of contention
between the two during a real estate transaction and one of the major
areas of concern is the `carpet area'. Carpet area, in proportion to the
super builtup area or saleable area, is something that has been a
reason of discord between the builder and home-buyer. Apprehensions
pertaining to the size of the carpet area have always plagued
homebuyers' minds. In terms of the consumer complaints, this reason is
the most popular one than any other for which a home-buyer locks horns
with the builder in the court of law. After all, carpet area is the
space that a homeowner is going to use. In a market, where home-buyer
education is not much in public discourse, the understanding about
carpet area, covered area including the internal walls, built-up area
and super built-up area, is pretty confusing. Now, speaking from the
real estate standpoint, there cannot be a standard definition of the
percentage of loading in the name of the super built-up area. This is
because the super built-up area is subject to many variables, including
the FSI norms, amenities on offer and others.Most of the analysts are
struggling worldwide to suggest an industry-accepted method of property
calculation.
A LEVEL-PLAYING FIELD
The developers in Mumbai, striving to come out of the slowdown, have taken the challenge upfront, as far as consumer complaints and perception management are concerned. As a result, they are now selling on the basis of carpet area. A home-buyer can actually measure his carpet area that the developer is promising. This may not reduce the loading share per se but at least puts to rest, the other apprehensions w.r.t what the buyer will get in terms of usable space.
The developers in Mumbai, striving to come out of the slowdown, have taken the challenge upfront, as far as consumer complaints and perception management are concerned. As a result, they are now selling on the basis of carpet area. A home-buyer can actually measure his carpet area that the developer is promising. This may not reduce the loading share per se but at least puts to rest, the other apprehensions w.r.t what the buyer will get in terms of usable space.
It is a new trend that has emerged where the
developers are selling as per the carpet area in Mumbai. However, one is
following the guidelines of the gov ernment, which has advised real
estate developers to sell as per the carpet area. per the carpet area.
The loading factor is not completely absolved
by this. Developers are taking into consideration the total cost before
finalising the per sq ft pricing of the apartment, prior to initiating
sales under the carpet area. Defining the carpet area and selling real
estate as per the carpet area, make a great difference to the customer
as well as the real estate developer. Selling on carpet area by all or a
majority of developers has strengthened the trust and confidence levels
between the real estate developer and his customers
The developers are selling only on carpet area
today, due to the rules and regulations. Yes, the selling rates go
higher in terms of carpet area but ultimately the ticket size remains
the same.
Selling on the carpet area does not, in any way,
absolve the loading factor but defining the carpet area and ticket size
makes a lot of differ ence as far as the trust factor towards the
developer is con cerned. It is always good to declare the carpet area at
the very first go, so that the client is aware about the value against
the actual size of the flat
There are many reasons to be lieve that selling on
carpet area helps the sector in its quest for an image makeover. It
kills the possibility of a mismatch between expectations and delivery;
the buyer knows beforehand the amount that one has to pay and the actual
size that one is getting; it reduces the chances of litigations; and
the practice overall, helps in the perception management of the sector.
Contact
501, 5th Floor, Plot No – A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) – 400 604, Maharashtra, India
Mobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com
501, 5th Floor, Plot No – A-123/4,
Odyssey IT Park, Road No. 9,Wagle Estate
Thane (W) – 400 604, Maharashtra, India
Mobile : (+91) 9833 4583 23 E-mail: mchithane@gmail.com
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