Know These Real-estate Terminologies Before Buying A Home

Selecting the perfect property is not as difficult as it looks. With the right guidance, you'll be fine. You can start by evaluating all the important factors. Take a pen and a piece of paper and jot down your requirements.

Ask yourself, do you want a big house, a villa, an apartment or a small house? To get assured information, it is always good to consult an agent who usually deals with top developers in India.

To simplify your work, we have listed a few terminologies which are often used when buying a home. If you are not familiar with the realty space and wish to buy a home, this article may just help you.

Per Square Foot Rate

Per Square Foot Rate is used to determine the cost of the property and is also used when one has to compare multiple properties. While the price can differ from one property to another, it is beneficial that you compare all properties, especially with similar configurations. Per Square Foot Rate can be measured in different ways. One way is through the total area that should be divided by the total cost of the property. For example, if the property costs you Rs. 800 per square feet and the size of the property is 10000 square feet, then the property will cost you Rs. 12.5 lakhs.

Carpet Area

As the name suggests, you can spread a carpet that is the net usable area (carpet) in an apartment. The carpet area does not include the walls and the other exterior amenities given by top developers in India. In simple words, it is the actual area that you get to use in your apartment. This information is mainly used when buying furniture and other necessities like a fridge, washing machine, etc. 

Many people doubt if the balcony and washroom area is included in the carpet area. So, the answer to this is yes. It is covered in the carpet area and the built-up area which we will discuss in the next point. 

Built-Up Area

The built-up area includes the total area, and the outer border of your flat including the terrace, balcony, columns, and walls of your apartment. It is a mix of carpet area and the above-mentioned aspects. 

Above are the 3 main terminologies used while buying a home the next 3 will be explained in the following post. Stay tuned and Stay Safe! To know more about famous projects in Gurgaon by Top Developer in India like M3M India please log on to http://m3mindiaproperties.blogspot.com