Understanding Area as per RERA
- May 12, 2021
The developers calculate the Constructible Area of any property in 3 different ways: the built-up area, the carpet area, and the super built area. All these Constructible Area calculations create a huge confusion during the purchasing process. It often becomes unclear to the customers between what they pay for and what they actually get.
According to the provisions of the Real Estate (Regulation and Development) act, 2016 (RERA) the developer should always inform the buyers about the carpet area of the property and should put prices based on that.
What is carpet area and how it is different from Other Area Calculations?
According to RERA, carpet area is the net usable floor Plot Area of the property that excludes the area covered by services shafts, external walls, exclusive veranda, balcony, or open terrace. But the carpet area under RERA includes the area that lies within the internal partition walls of the apartment.
The built-up area not only includes the carpet area, but it also includes the area of the inner and outer walls, dry balcony, etc. Contrary to these two, the super built-up area includes the built-up Plot Area as well as all the shared areas.
Before RERA was enacted in Maharashtra, builders often quoted the super built-up Area for 2 BHK Flats in Mumbai, whereas the agents used to promote the projects citing how spacious the property is. The enactment of RERA in Maharashtra has helped to quash all these malpractices.
RERA: How It Is Different from MOFA?
The legislation of MOFA and RERA was done on the same subject matter with contrasting effects. One of the biggest distinctions between MOFA and RERA is that MOFA is only concerned with Area for 2 BHK Flats in Mumbai.
MOFA was enacted to control the construction, promotion, management, sales, and transfer of the Area for 3 BHK Flat in Mumbai depending on ownership. However, RERA was implemented to regulate and promote the real estate sector while protecting the interests of the consumers.
However, one shouldn’t confuse floor area with carpet area. The floor Area for 3 BHK Flat in Mumbai combines the height and footprint of a building. It also ensures flexibility in the design. The FSI (Floor Space Index) works as an index and is generally represented in the form of a percentage. The standard FSI is applicable for the floor Area of 1 BHK and 2 BHK flats.
How RERA Can Help Home Buyers?
Under the guidelines of RERA, a builder must disclose the proper carpet Area of 1 BHK and 2 BHK. That means the customer will know what he is paying for before buying the property. RERA helps the customers to get accurate information regarding the Area of 1 BHK and 2 BHK.
The decree of RERA in Maharashtra has helped to reduce the malpractices and anti-consumer practices in the real estate sector. It would help to pave a new business ecosystem in the industry, which is built keeping customer care at its very core.