Carpet Area, Built-up Area, What & How

Very often when we go to look at flats, we come across terms like Carpet Area, Built-up Area, Loading, Saleable Area etc. It is important that we know what they are so that we can make an informed decision. Here’s some property bites…

Carpet Area is the area that you actually get inside the house. Carpet Area literally means it is the area available to lay a carpet if you intended to! This is actually the area that you are going to pay your money for. Though the regulations require builders to quote rates for carpet area, they still don’t and do it only in the agreement by merely converting the cost.

The Built-up Area apart from the Carpet Area takes into account the thickness of the internal and outer walls and also the area of the balcony. The built-up area is generally never used for commercial discussions.

The Super Built-up Area (also known as the ‘Saleable’ Area) is relevant to multi-dwelling units and is the one term you will hear often. It includes the area for common use like lobby, lifts, staircase etc. In current scenarios, it also takes into account amenities like clubhouse, swimming pools, garden etc. All this is proportionally divided amongst the flats. The ‘Loading Factor’ is derived here which is applied on the carpet areas to get the Super Built-up Area or the Saleable Area. 

Typical Calculation: 

  

Carpet Area: 800 sq. ft.
Balcony / Terrace: 50 sq. ft.
Loading Factor: 30% (0.3)
Super Built-up Area: [800 + (50 x 0.5)] x 1.3 = 1072.5 sq. ft.

As seen in the above calculation, please note that only half of the area of the balcony / terrace has to be considered for loading. I guess this is because balconies are not charged for F. S. I.

Things to note about area when looking at a property

1. Compare and confirm the Carpet Area of the flat with what is shown in the floor plan / brochure. It is pretty simple and does not need an architect. The plan would have the wall to wall dimensions. Normally the tiles used these days are standard 2’ x 2’ marbonite tiles. So if the brochure says the dimensions as 10’ x 14’, you should see 5 tiles in breadth and 7 tiles in length. Simple! You could also measure using a regular measuring tape.

2. Once you have seen and confirmed that the area in the flat is as it is shown in the plan, you need to enquire how the builder has calculated the Saleable Area. It should be in line as explained above.

3. It is good to understand the loading factor taken by the builder. However, beware of misrepresentation of the loading factor or carpet area. Below illustration explains how.

Actual Scenario:
Carpet Area = 1000 sq. ft.
Loading Factor = 25% (0.25)
Saleable Area = 1000 x 1.25 = 1250 sq. ft.

However, the builder may tweak the information by telling you this:

Scenario when Loading Factor is misrepresented:
Saleable Area = 1250 sq. ft.
Loading Factor = 20% (0.2)
Carpet Area = 1250 x 0.8 = 1000 sq. ft.

Here the builder has charged a loading of 25% but has claimed it to be only 20%

Scenario when Carpet Area is misrepresented:
Saleable Area = 1250 sq. ft.
Loading Factor = 25% (0.25)
Carpet Area = 1250 x 0.75 = 937.5 sq. ft.

Here the builder has charged for 1250 sq. ft. with a loading of 25%. But instead of getting a carpet area of 1000 sq. ft., you get only 937.5 sq. ft.

4. If you are comparing properties and want to compare the cost, it would be a good idea to take the total cost and find the cost per sq. ft. of carpet area.

Concluding Note

This intent of this write-up was to help you make informed decisions. Different builders would have different ways of doing things like considering a higher loading factor, considering 100% terrace areas for loading etc. With buoyant demand, they may not be ready to change these for you, but you need to be aware of these when you make your decision. Finally, when you find your dream home, it’s a decision of the heart.. Don’t let too many technicalities come in your way!

Capital Towers, Wakad

I must confess as a non professional, I don’t have a method or approach that I take to help me decide on the projects I have to review. Though I visit properties sometimes based on feedbacks or specific requests, most of the times I just let the advertisements and hoardings guide me. I think most of us hunting for their homes do just the same. Having left home with the plan to look at a few projects in Wakad, I was quiet easily led to Capital Towers through their many hoardings and signboards.

The Location

Wakad is one of the areas in Pune seeing rapid development. It comes under the wings of Pimpri Chinchwad Municipal Corporation (PCMC). Till some time back the area was almost entirely farm lands. Though you can still find a lot of them even now, the picture is changing, and changing fast. The greatest advantage of Wakad is its proximity to the IT Parks and the Mumbai Expressway. It is also well connected to the suburbs of Baner and Pashan through the highway. Connectivity to Pune exists, but it will take you a while to reach Pune City! With work on widening of the roads underway, and multiple routes available, I hope it should make things a lot better in some time.

A lot of development in Wakad had taken place a few years back with few projects springing up in different places. There was also good connectivity with lots of interior roads connecting to different key areas. But, the development was scattered and lacked a planned or concentrated development we see or have seen in places like Pimple Saudagar. This has changed a bit now, though still a long way to go. The closest hospital I guess is the Aditya Birla Hospital, which is one of the best hospitals in Pune. I don’t think there are any good schools around with the closest ones being in Aundh or Baner. It appears that Wakad is also one of the favorite places for buyers from Mumbai, looking for a real estate investment. I can’t think of a reason for this apart from the fact that it is so close to the highway from Mumbai!

Capital Towers is located on the Wakad Tharegaon Road that goes towards Dange Chowk (the first left off the Wakad flyover when going towards Pune) alongside projects like Costa Rica and Mont Vert Seville. Being just off this road, it is connected to roads on either sides to Hinjewadi or Pune and thus is quiet well located.

The Project
 

The project consists of 4 towers of 11 storeys with 5 flats (2 3BHKs and 3 2BHKs) on each floor of each tower. That makes about 220 flats in total. These many flats in a total area of just 2 acres make this a pretty congested project. May be this is what they meant when they called it “a new paradigm in luxury lifestyles!” Bookings are open only or towers A & B and the sales people said that almost 50% of the flats are booked and they do not plan to open booking for the Towers C & D. I have my doubts on the extent of truth here.

Capital Towers is a project by Chandrarang Developers and Builders and ABS Properties. I have not heard anything about both these groups, nor could I find any history of their work except for a project Elite10 in Pimple Gaurav where Chandrarang is a partner. A search on the internet also did not lead to anything. The website mentioned in the brochure (www.capitaltowers.com) belongs to a building in North Carolina!

Construction work is in the early stages with work currently on the plinth levels. They have stated a possession of September 2011, which I feel can be called more of a dream than optimism. A dream not for the builders, because they know it is not possible, but for those who are dreaming to have their home in there. It is a not too many frills project with just a podium level garden and a small pool for children. The space on the terrace has been reserved for additional garden and community hall which is nice but it needs to be seen if this does turn into reality.

The Flats

The project offers compact 2 and 3 BHK flats with saleable areas of 1023-1097 sq. ft. and 1253-1283 sq. ft. respectively. The sample available was of a 2BHK and I was pretty impressed with the layout. Both the bedrooms are master bedrooms with attached bath. This could be a good point as well as a negative point because it does not have a common bathroom. They have spacious terraces attached to the drawing / dining room and one of the bedrooms. Unlike the standard layout, with L shaped living rooms and bedrooms at the end of a passage, here the 2 bedrooms are on either side of the drawing room, which I found to be nice. The dry balcony was very spacious and I’m sure women would like this! The 3 BHK flats would have the luxury of facing 2 directions while the 2 BHKs are facing just one direction. The specifications are standard and the quality of materials used in the sample flat (or promised) is of good grade.

The Cost

The cost sheet quoted a rate of Rs. 3200 psf. The all inclusive cost of the 2BHK comes to about 38 lacs and the 3BHK about 45 lacs. When I said my budget was just 35 lacs, they said that it should be possible for them to offer me something within my budget. Such easy willingness only makes you wonder how much room is available for negotiation on price! They told me that the project is approved by all major banks and they would assist me in getting a home loan from the bank of my choice.

My Take

Capital Towers is well located in a place in Wakad which connects well to other parts of the city. The layout inside the flats is good and fits well into a comfort budget home. But, that’s where the good things about the project end. The project is by I don’t know who. The building is cramped up into a place which should only hold something half its size. You definitely need to check the FSI usage here. The construction has just begun and I don’t know how reliable the builders are that they would complete the project and even if they do, I don’t know if I’ll get what was promised. To put my hard earned money into it, I would wait till September 2011.. the time they promised possession!!

Pride Platinum, Baner

After visiting Aloma County, I re-visited Pride Platinum (http://www.pridegroup.net/pride-platinum) which is another offering from the Pride Group in Baner near Pancard Clubs. The Pride Group (one of the partners in the Pride-Purple Group of Park Street, Park Royale etc.) has been in this business for over 15 years and have several completed projects to their credit.


The Location

The Common Wealth Youth Games hosted in Pune last year had brought about a slew of infrastructure development projects. Even though they may not have all completed in time for the purpose it was to serve, it at least gave things a much needed head start. One of the areas that developed around this is Baner. Though the development is still seen around the main Baner Road, with large pockets of areas still looking untouched, I think the place has huge potential mainly because of its connectivity to both the city and the Mumbai highway. With land available on the sides of the Baner Road, there is potential for commercial development and we have seen a fair amount of this activity in the near past. It may not be far when Baner may dislodge Aundh from the position it is holding today.

Pride Platinum is located in a stretch near Pancard Clubs next to the hill that separates Baner and Pashan. It is about a kilometer from Baner Road, through a narrow road which ends up into a kuccha road. This road is supposed to meet the Mumbai Bangalore highway as per the development plan, but like most D P Roads, it is certainly a question mark! Right now, there seems to be almost nothing around, with just a few developments, most of them in pretty early stages. I understand that the surrounding places have been taken up by prominent builders like Amit Enterprises, Aditya Builders, Kalpataru Constructions and also Avinash Bhosale. I believe that this is a good recipe for the good development of a place. There are also some other projects closing completion and even completed in the near vicinity like Supreme Palacio, Paranjape Saptagiri, Venkateshwara Mirabel, Gera’s Regent Park, Beverly Hills etc.

An area of concern is the water shortage issue that is prevalent in Baner. I don’t have the complete picture of this and hope people who stay there and know more can contribute on this to this thread. There is a water tank being built on the top of the hill next to Pride Platinum. I’m not sure if this would solve the problems, but at least should improve the situation.

Click here to see the loaction on Wikimapia


The Project

The project is built over a 10 acre area with 4 towers of 12 floors having 4 flats in each of the 2 wings. Construction has begun in 2 of the towers with work commencing on the 10th slab and 6th slab of the 2 towers. The stated possession for both towers is June 2011. Work on the next building is expected to begin within in the next couple of months. Having visited the site after some time I was pretty impressed by the pace and quality of construction.

The project offers the standard amenities like the club house, swimming pool, garden etc. Apart from these, it also offers some other amenities like a basketball court, a tennis court and skating rink which is normally seen only in big or premium projects.

The buildings are placed to form an inverted L with the garden on the inside. The view from the site may look barren right now in the summer, but once it rains, with the green hills surrounding it, the view is nothing short of magnificent. Since there is no development on either side, and not knowing what project is coming up, one cannot be sure if the view would still remain from their homes!


The Flats

The project offers spacious 2 and 3 BHK flats. The area of the 2 BHK is 1220 sq. ft., 3 BHK Optima is 1350 sq. ft. and the 3BHK Ultima is 1620 sq. ft. (all selling area, with carpet 25-30% lesser which is standard I guess). The flats are spacious and airy with large windows. The sample flat at the site office available is only for the 3BHK Ultima. However, the other flats can be seen in the building under construction. The layout of the 2 BHK and the 3 BHK Optima are quiet standard with L shaped living rooms. The rooms are spacious and there is no sense of cramping up except in the one room in the 3BHK Optima which is actually more of a 2.5 BHK flat. The best part of the project is the 3BHK. Its layout is among the best layouts that I have seen with no wastage of space that gives you a feeling of grandeur. This is matched by the specifications that look good and lean towards the premium offerings.

The Cost

The quoted rate as of today is Rs. 3650 psf with a premium of Rs. 200 for the garden facing flats which takes the cost to start from about Rs. 50 lacs for the 2BHK and 70 lacs for the 3BHK Ultima including stamp duty, registration, parking and other charges. The project is approved by all major financial institutions. The question is: are the flats are worth this price? With completed and near completion projects in the near vicinity available at Rs. 3200 psf to Rs. 3300 psf, they are certainly charging a premium. They are also offering better specifications and amenities, but I still feel that all these combined the price should be around Rs. 3500 psf.

My Take

If you are looking for a 3BHK, I’m sure the layout will bowl you over. If you go in the rains, the location and view does so. But, what is the project without these? You look like you are in the middle of nowhere. But, if I were to take a little long term view, I see potential in 3 to 5 years time frame. I feel the place will develop into a good residential hub. Who knows, this place may be called Baner Hills! Now that is a tony address line to have! It’s not too far from ‘civilization’ to be a deterrent and except for the slightly higher cost and the pain in the first few years; I think this is a place which makes good sense for living as well as long term investment.

Aloma County, Aundh

This week, I took a look at a project closer home. When I went to see the project, I should say, I was quiet surprised to see that so much space is available for development in Aundh. As you get to the site, it looks like an entire pocket of land was just discovered, right in Aundh!

Aloma County is a project by the Pride Group (from the Pride-Purple of Park Street and Park Royale) and Naiknavare Housing Developments. Both groups have been in the business for more than 15 years and have had a good number of projects completed both individually and in partnerships, though I am not sure if the two groups have worked together on a project before.

The Location

Over the last few years Aundh has turned out to be one of the prime suburbs particularly in west Pune. The place has turned out to be a nice residential area with different pockets offering different options. Since, it is an already developed place; there is no dearth of shops, supermarkets, restaurants, clinics etc. There are also a few hospitals like the Medipoint hospital and Kotbagi hospital which may not be great, but are good for basic care. There is also a DAV school apart from the options of other schools in the near vicinity. Aundh is also well connected by buses and rickshaws are available in plenty. To sum up, one will not have to go through any pain after moving into a place like Aundh.

The project is located next to Medipoint hospital and is a on the new proposed road to Baner. Spread over 45 acres, this will be one of the bigger projects in Aundh. Though the location right now is almost in a corner of Aundh, once the road that links up to Baner is complete, I think this place will start buzzing with activity and somehow shift from the corner inwards!

Click here to see the loaction on Wikimapia

The Project

Aloma County (www.alomacounty.com) the name comes from the ‘Aloma’, the French word for dove, representing peace. The large 45 acre project has been conceived to be a residential complex that provides peace and tranquility within the bustling suburb of Pune. Being located on the sides of the road that links up to Baner, how peaceful the place is going to be remains to be seen. However, the project being spread over such a large area may be the reason why they chose to position it like that.

The project has 4 phases with bookings currently open for Phase 1 for Irene Towers I and II having a total of 8 buildings of 12 floors in the first phase. The possession promised is by July 2011. Construction has already begun and buildings are between 1st and the 8th slab levels of construction. With such a range, I don’t think all buildings will get completed by July 2011. Each phase will have its own set of amenities. Apart from the standard amenities like the clubhouse, swimming pool and children’s play area, there is more space dedicated to amenities like multipurpose courts, cricket nets, putting green for the golfers, skating rink etc., which are good additions and differentiators.

Apart from these, the project is to house a school and also promises multipurpose halls, conference rooms, business centres etc. The amenities put together, the project promises to offer a luxurious lifestyle.

While the offering with the above mentioned description may look very impressive, there are a few points we must look at with caution. Firstly, though overall there may be a good amount of non apartment space, but for each phase (looking at what is offered in Phase 1), it is not very impressive. Further, the complete township is slated to be completed in 6 years from now. That is a lot of time! That is a lot of time particularly for those who book now and move-in in some time and continue to see and live around the construction activity for a few years.

The Flats

The project offers spacious 2 and 3 BHK flats in the Irene Towers which is now open for bookings. Further phases will also offer 4BHK flats. The 2BHKs have an area between 1181 and 1206 sq. ft. and the 3 BHKs have an area ranging between 1553 and 1609 sq. ft. As it is obvious from the areas, the rooms are pretty large. The specifications look good and lean towards the premium offerings. The layouts also seem good with minimal wastage of space. I particularly liked the layout and the area of the 2BHK. However, in the 3BHK I would have preferred a slightly bigger living room and bedrooms. Illustrations of the flat layouts are available at their website.

The Cost

The quoted rate as of today is Rs. 5000 psf and a premium of Rs. 200 for garden facing flats which takes the cost of the flat to around 70 lacs for the 2BHK and 88 to 94 lacs for the 3BHK inclusive of stamp duty and registration, parking and other charges. My understanding is that the running rate in Aundh for a new ready apartment (which is very rare to find) is around Rs. 5000 psf. For an under construction property, the quoted rate is on the higher side. A little back of the envelope calculation makes me feel that the cost of a flat in Aloma County is roughly about 10 to 15 lacs more than the closest readily available comparison. Are the additional amenities and the overall feel worth this? This is a question only a home seeker can answer. The project is approved by all major financial institutions. I’m sure the developers took extra pains to get these considering the prices!

My Take

The biggest selling point of the project is its location. Being in a developed locality, this is not certainly a project for everyone. Also, being in a developed locality, I don’t think the appreciation of the property is also going to be much in the near term. Further, I don’t think there is a project in Aundh that offers all these amenities. This is probably why the developers feel they can charge higher. However, even if I were to think of it as a premium property for which one would pay so much, even though the overall project might be great, the flats don’t give me that feeling. They are spacious, but paying so much I would want some more grandiose in my flat. Overall, this is a good project, but for a select few who can afford to pay so much or for those who might be selling their current property and upgrading to a newer place. The question is.. are you one of them?