How to buy?
Once you decide upon the locality, the next step is to check the developers who are
building there. The best way to do this is to do your own research. Find out who the
developers are and what they have to offer. Check out the floor plans and the types
of property that they are constructing. Many of these are available online so this can
be done at your convenience. Once you have shortlisted some properties, do your
own footwork. Check out the projects on-site. Get an expert such as a broker to show
you around. Sometimes what looks good on paper may not feel right when you see it
on the ground.
If the project is new, the choice of builder is a big decision. Check the builder’s track
record, his financial strength, his ability to deliver on time, construction quality and the
payment terms, especially in case of a local builder. Do a background check on
developers and make your assessment about where you would feel safe to make
your investment. One should always check with local real estate brokers the last
transaction price or the price of similar property in that location.
Negotiating Ability: After considering all the above, your negotiating ability is crucial
which means, leveraging the available information and a fair understanding of the
points discussed to strike a good deal.
The ‘area’ concept is very vaguely used in the housing industry. Some builders and
sellers take advantage of this ambiguity.
Carpet area is defined as the precise area within the walls of your home. If you had to
lay out a wall-to-wall carpet in your entire home, the area covered would be the
carpet area.
Built-up area is inclusive of not just the carpet area but also the area being occupied
by the walls of your home.
Super built-up area takes into account all the area under the common spaces which
is the apartments’ proportionate share of the lobby, staircase, elevator and the
corridor outside the apartment.
The confusion over super built-up area arises over what all is exactly included under
this definition according to the judgment of the builder. Some may even include the
terrace, security room, electrical room and/or pump room. The cumulative total of
these ‘extras’ is taken into account and divided by the number of apartments in
proportion to their size.
* If you get a quote for 1,000 sq ft, immediately find out if it is the carpet area or
super built-up area.
*There is no fixed ratio of super built-up to built-up or carpet area. Generally, the
ratios in multi-storey apartments are 75:35 (super built-up area to carpet area).
In a single floor there is very little loading of common areas to the tune of
5-10 per cent.
Once you decide upon the locality, the next step is to check the developers who are
building there. The best way to do this is to do your own research. Find out who the
developers are and what they have to offer. Check out the floor plans and the types
of property that they are constructing. Many of these are available online so this can
be done at your convenience. Once you have shortlisted some properties, do your
own footwork. Check out the projects on-site. Get an expert such as a broker to show
you around. Sometimes what looks good on paper may not feel right when you see it
on the ground.
If the project is new, the choice of builder is a big decision. Check the builder’s track
record, his financial strength, his ability to deliver on time, construction quality and the
payment terms, especially in case of a local builder. Do a background check on
developers and make your assessment about where you would feel safe to make
your investment. One should always check with local real estate brokers the last
transaction price or the price of similar property in that location.
Negotiating Ability: After considering all the above, your negotiating ability is crucial
which means, leveraging the available information and a fair understanding of the
points discussed to strike a good deal.
The ‘area’ concept is very vaguely used in the housing industry. Some builders and
sellers take advantage of this ambiguity.
Carpet area is defined as the precise area within the walls of your home. If you had to
lay out a wall-to-wall carpet in your entire home, the area covered would be the
carpet area.
Built-up area is inclusive of not just the carpet area but also the area being occupied
by the walls of your home.
Super built-up area takes into account all the area under the common spaces which
is the apartments’ proportionate share of the lobby, staircase, elevator and the
corridor outside the apartment.
The confusion over super built-up area arises over what all is exactly included under
this definition according to the judgment of the builder. Some may even include the
terrace, security room, electrical room and/or pump room. The cumulative total of
these ‘extras’ is taken into account and divided by the number of apartments in
proportion to their size.
* If you get a quote for 1,000 sq ft, immediately find out if it is the carpet area or
super built-up area.
*There is no fixed ratio of super built-up to built-up or carpet area. Generally, the
ratios in multi-storey apartments are 75:35 (super built-up area to carpet area).
In a single floor there is very little loading of common areas to the tune of
5-10 per cent.
