The real meaning of real estate is defined as land and its tangible attachments. The concepts of real estate include the various areas of an apartment carpet area, built-up area, and super built-up area. Once the real estate investor understands the nuances of these technical terms used to define the various features of an apartment area – he/she can then make an informed decision on the right property that they can buy. The correct understanding of all such real estate jargon will make sure that the buyer is not overwhelmed when buying a real estate property.
LET US UNDERSTAND THE CONCEPTS OF REAL ESTATE:
CARPET AREA:
The carpet area is the total area between the inner walls of an apartment. It is usually known as the total usable area and the area that can be covered by a carpet. The common areas such as the lobby, lift, staircase, etc are not included in the carpet area. One can calculate the carpet area by adding up the area of the living room, bedrooms, etc. Minus it with the thickness of the inner walls.
BUILT-UP AREA:
Built-up area is measured including the external perimeter of the wall surfaces. It is calculated as the carpet area plus the wall thickness and another useable area within the premises of the apartment; like the dry balcony, terrace, flower beds etc. When calculated, the super built-up area is often more than the carpet area of any apartment. The built-up area is often the main actual area used to build any real estate property. The estimated value of the carpet area is determined by calculating the built-up area.
SUPER BUILT-UP AREA:
The super built-up area is the total saleable area of any property. This includes the carpet area plus the area of the balconies, the area occupied by walls along the share of the common areas like the lift, staircase, etc. In some cases, the builder even calculates the swimming pool, clubhouse, garden, and other common areas in the super built-up area of a property.
There is also the loading factor when you venture out to buy your dream home, the loading factor is usually the super built-up area minus the carpet area. This is used to add up the construction space of any house or apartment that is not exclusive to you.
