Carpet Area VS Rera Carpet Area

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When purchasing a property, understanding the terms What is Carpet area, carpet area definition as per RERA, and What is RERA Carpet area is crucial. There are three primary methods to determine a property’s area: the super built-up area, the built-up area, and the carpet area as per RERA.

Historically, varied methods led to discrepancies and claims of fraud, with complaints that actual flat sizes were smaller than promised. To address this issue, the Real Estate (Regulation and Development) Act of 2016 (RERA) introduced a rule that mandates builders to base their pricing on the RERA carpet area instead of the super built-up area.

Carpet Area Definition as per RERA

• RERA carpet area means the net usable floor area of an apartment, including internal walls but excluding external walls, service shafts, balconies, verandahs, and open terraces. Builders must now quote only the RERA carpet area when selling properties to ensure transparency.

Refunds and Adjustments

• If the RERA carpet area variation occurs during construction, buyers are entitled to refunds. Builders must return the excess amount plus interest within 45 days if the RERA carpet area decreases. Conversely, buyers may have to pay extra if the area increases, but this increase is capped at 3% by RERA.

Difference Between Carpet Area and RERA Carpet Area

• The primary difference between carpet area and RERA carpet area is the inclusion of interior wall thickness. Typically, the RERA carpet area is about 5% larger than the traditional carpet area. For example, a unit with a 900-square-foot carpet area would have a RERA carpet area of 945 square feet.

Calculating RERA Carpet Area

Calculating the RERA carpet area is straightforward, generally around 70% of the built-up area. Utilize a RERA carpet area calculator to ensure the builder’s price aligns with comparable properties.

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Choosing Between Carpet Area and RERA Carpet Area

When evaluating a property, buyers often wonder whether to consider the RERA carpet area vs Carpet area. While the RERA carpet area provides standardized information, it may not reflect the actual usable space, which includes enclosed balconies and similar areas.

Understanding Built-Up and Super Built-Up Area

Despite RERA’s emphasis on What is RERA Carpet area, knowing other area types is beneficial:

• Built-Up Area: Includes the carpet area, walls, balconies, corridors, and common areas, typically 10-20% larger than the carpet area.
• Super Built-Up Area: Encompasses the built-up area and shared amenities, usually 25-30% larger than the built-up area. This is calculated by dividing the total common area by the number of units and adding it to the built-up area.

Impact of RERA Carpet Area

RERA has revolutionized the real estate market:

• Transparency: Standardized practices ensure a transparent market.
• Trust and Confidence: Buyers gain trust in the market.
• Mandatory Disclosure: Builders must disclose the RERA carpet area in marketing materials.
• Pricing Basis: Prices are based on the RERA carpet area, ensuring fairness.
• Adjustments: Any area variance leads to cost adjustments, protecting buyers.

How RERA Saves Money

RERA aims to protect buyers and ensure transparency:

• In 2015, a builder quoted Rs 60,00,000 for a 3 BHK apartment based on a super built-up area of 1500 sq ft at Rs 4000 per sq ft.
• RERA mandates pricing based on the carpet area, which is 1200 sq ft in this case.
• The RERA-based price for the same apartment is Rs 48,00,000, saving Rs 12 lakh for the buyer.
• RERA also prevents inflated super built-up area quotes that lead to higher property taxes.

Conclusion

RERA aims to promote transparency and protect consumer interests in the real estate market. Understanding the difference between carpet area and RERA carpet area and using tools like a RERA carpet area calculator can help you make informed decisions. Visit Housiey.com for more information.

FAQs

1- What is the Carpet area as per RERA?

• It is the net usable floor area excluding external walls, service shafts, and balconies.

2- How do you calculate the RERA carpet area?

• Use a RERA carpet area calculator or take 70% of the built-up area as a rough estimate.

3- What’s the difference between carpet area and RERA carpet area?

• The RERA carpet area includes the thickness of internal walls and is generally 5% larger.

4- Can the RERA carpet area change during construction?

• Yes, if there is a RERA carpet area variation, builders must refund or adjust the cost accordingly.

5- Why is the RERA carpet area circular important?

• It ensures builders disclose accurate area measurements, protecting buyer interests.

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