Real estate is an emerging industry which is inclusive of multiple professions and careers. Despite that, real estate is in a way a very fundamental aspect of every individual’s life as well.
At some point, every person aspires to own a property, buy a home or rent out some space. Right? Hence, it is always advantageous to explore the vast field of real estate and be aware of at least the basic terminologies .
With that ideology, Mahaveer Constructions presents to our readers an insightful article which explains a few of the basic jargons that are frequently used in the real estate industry.
We are sure that these terms would definitely come handy when you embark on to buy a real estate property.
- Carpet Area:
As per RERA (Real Estate Regulatory Authority), Carpet area implies the net usable floor area of a property. This area excludes the area covered by the external walls and areas under the service shafts. Carpet area is also exclusive of balcony area, verandah area or open terrace area, but inclusive of the area that is covered by the internal partition walls of the apartment.
Square feet or square meter is the most commonly used metrics to measure the carpet area.
- Built-Up Area:
The built-up area of a property is the carpet area with the wall thickness, plus the other unusable areas within the apartment such as the dry balcony, flower beds, terrace, etc. The built up area is always greater than the carpet area.
A simple formula of built up area is carpet area plus the area of walls.
Square feet or square meter is the most commonly used metrics to measure the built up area.
- Super Built-Up Area:
As per RERA (Real Estate Regulatory Authority), the super-built up area is the sum of the carpet area, the built-up area, and the shared common area like the stairs and lobbies, which can be used by the entire building.
Super built-up area = Built-up area + common areas
Square feet or square meter is the most commonly used metrics to measure the super built up area
- Total Property Area:
The total area of a property is the super-built up area, But, in addition to the super built up area, the total property area is also inclusive of the area covered by the amenities offered by that particular property.
The most commonly used metrics to measure the total property area is square feet or square meter.
Well, that was your dose of real estate information today. We, at Mahaveer, always look out for various ways to spread the knowledge that we have accumulated over the past 23 years of experience we have had. And, we hope that you enjoyed learning something new and important today!
To know more about us and our premium projects, visit our website https://mahaveerconstructions.com/