I am planning to buy a flat in J P Nagar, Bangalore and have identified a project. The builder says that the built up area is 1250 sq ft. I have a doubt- is this means the space inside the flat? Or it includes common area? If so, what is carpet area?
The area of the flat specified by the builder is usually the built-up area which includes the walls inside the flat. Some builders mention the super-built-up area which includes common area such as staircase, lift etc. Carpet area of the flat is the floor space inside the flat. Usually builders don’t mention carpet area in their brochures or plans, but mentions only built up area.
Rarely, some builders mention the super built up area as built up area, which is misleading to the buyers and they end up paying for a larger area than what their house actually is. Although this cannot be categorised as a hidden cost, you must be prepared to pay more for less.
Property buyers should be aware of such traps and should be aware of all the terms before making a final decision. Real estate purchase is one of the most precious achievements of one’s life time. So a careful and slow move is essential before making a decision.
The built-up area is the actual area of an apartment that will be used by the owner. This area is the carpet area of the apartment plus the thickness of outer walls and the balcony. Super built-up area includes the built-up area and the owner’s proportionate share in the common areas such as the lobby, lifts shaft, and stairs. Builders have their own definition of the built-up area. That is why this may vary from one builder to another. However, the Real Estate Regulation & Development Act (RERA) that will come into effect on the 1st of May, 2017 can help. RERA defines carpet area clearly. So, there will be no more selling real estate on the basis of ambiguous built-up area. Such dealings are considered to be illegal with the new law. Read this post for more information - https://blog.bankbazaar.com/are-you-planning-to-buy-a-house-hold-on-till-may-1st/.