Skip to main content

CARPET AREA UNDER RERA


 

Carpet Area, as defined under the Real Estate Regulatory Authority (RERA), is an essential term that determines the actual usable area of a residential unit. Here's a breakdown of what carpet area means under RERA:

1.   Definition: Carpet area refers to the net usable floor area within the walls of a residential unit, excluding the area occupied by the external walls, balconies, terraces, common areas, and other areas specifically excluded under RERA.

2.   Inclusions: Carpet area includes the area covered by internal walls, as well as areas such as rooms, living spaces, bedrooms, kitchen, bathrooms, and any other areas within the unit that are habitable and can be used by the occupants.

3.   Exclusions: Carpet area excludes the area occupied by external walls, balconies, verandas, terraces, common areas like corridors, staircases, lobbies, utility ducts, and any other areas that are not specifically part of the individual residential unit.

4.   Importance under RERA: RERA emphasizes the disclosure of carpet area to ensure transparency and prevent misleading marketing practices by developers. It ensures that buyers have a clear understanding of the actual usable area of the unit they are purchasing and helps them compare different projects based on carpet area.

5.   Sale Considerations: RERA mandates that developers must disclose the carpet area of each residential unit in their marketing and sales materials. The price of the unit should be based on the carpet area and not on the super built-up area, which includes common areas and other proportional shares.

By specifying the carpet area, RERA ensures that homebuyers have accurate information about the usable space within a residential unit and can make informed decisions while purchasing property. It promotes transparency, reduces discrepancies, and protects the interests of homebuyers in the real estate market.

ADV LEENA KAULGEKAR 


Comments

Post a Comment

Popular posts from this blog

Vertical Property Cards Are Coming

       Vertical Property Cards Are Coming What Will Change for Flat Owners in Maharashtra?     Maharashtra is moving toward one of its most important real estate reforms: the introduction of Vertical Property Cards (VPC). This system aims to give every flat its own digital identity, something the current property-card structure does not offer. The idea is simple. When a buyer purchases a flat in a multi-storey building, the ownership should be clearly recorded, flat-wise, in government records. That's the gap VPC is designed to fill. And the impact is expected to be positive for both existing owners and new buyers.   What Is a Vertical Property Card? A Vertical Property Card is a digital document that shows clear, flat-wise details such as: Flat owner's name Flat number and carpet area Exact land share linked to that unit Building details and mapped boundaries Right now, the traditional Property Card record...
Post a Comment
Read more

DUTIES OF HOMEBUYER UNDER RERA

  DUTIES OF HOMEBUYER Under the Real Estate (Regulation and Development) Act (RERA), buyers, also referred to as allottees, have certain duties and responsibilities. These duties are aimed at ensuring transparency, fairness, and compliance in real estate transactions. Here are some of the key duties of buyers under RERA: 1.     Verification of Project: It is the duty of the buyer to verify the details of the real estate project before making a purchase. This includes checking the registration status of the project with the respective state's RERA authority, reviewing the project's plans, specifications, approvals, and other relevant documents. 2.     Payment of Consideration: The buyer is responsible for making timely payments as per the agreed terms and conditions of the sale agreement. This includes payment of the purchase price, instalments, and any other charges or dues as specified in the agreement. 3.     Compliance w...
Post a Comment
Read more

WHO IS A DEFAULTER UNDER CO OPERATIVE SOCIETIES ACT

  In the context of cooperative societies, a defaulter typically refers to a member who has not fulfilled their financial obligations or other responsibilities as outlined in the society's bylaws or regulations. The specific criteria for designating someone as a defaulter can vary based on the society's rules and the nature of the default. Common types of defaults in cooperative societies include non-payment of dues, charges, or contributions, failure to comply with rules, and breach of contractual agreements. Here are a few scenarios where someone might be considered a defaulter under the Cooperative Societies Act: 1.     Non-Payment of Dues: If a member fails to pay their dues, maintenance charges, or assessments required by the society within the stipulated time frame, they can be considered a defaulter. 2.     Failure to Contribute: In certain cooperative societies, members are required to contribute financially to specific projects or in...
Post a Comment
Read more