Distinction Between the Carpet Area and the RERA Carpet Area

There are three different techniques to determine the property's area. These are the super built-up area, the built-up area, and the rera carpet area.

Various strategies led to several instances of fraud and cheating. There were grievances that flat areas were not as large as promised to homeowners. In order to solve this problem, the Real Estate (Regulation and Development) Act of 2016 (RERA) added a provision mandating builders to base their pricing estimates on the rera carpet area definition rather than the super built-up area.

There may be some confusion about these terms once you decide to purchase an apartment. If you’re wondering what is rera carpet area, this article will give you details about the same.

What is the Carpet area as per RERA?

Carpet Area i.e rera carpet area is the net usable floor area of any unit. Additionally, the internal walls, excluding the size of the external walls, service shafts, exclusive verandah or balconies areas as well as exclusive open terraces are also included. When selling a property, developers and builders must only cite this measurement and not any other kind of area.

Those who buy a home will get a refund if the project is still under development and the carpet area changes while the property is being developed. If there is any decrease, the builder will pay back the extra cash plus interest every year. Additionally, the money must be returned within 45 days. If the neighbourhood grows, the buyer of a home is responsible for the additional costs, but RERA has capped the growth at 3%.

What is the Distinction Between the Carpet Area and the RERA Carpet Area?

The thickness of the interior walls is the only distinction between the two. Therefore, there is a small difference between the two carpeted regions. Typically, the RERA Carpet area is 5% bigger than the carpet area. For instance, if any unit has 900 square feet of carpet area, the total RERA carpet area would come to 945 square feet.

How is the RERA Carpet Area Calculated?

Since the carpet area typically makes up about 70% of the built-up space, calculating the RERA carpet area or using a RERA carpet area calculator is simple. Be wary since a builder might propose a higher price based on the RERA carpet area; thus, negotiate after researching the pricing of comparable properties.

As A Homebuyer, What Should You Look At – RERA Carpet Area Or Carpet Area?

Homebuyers often ponder whether to focus on the RERA carpet area or the traditional carpet area when evaluating a property. While the RERA carpet area offers standardised information, it may not precisely reflect usable space. Usable carpet area, encompassing all spaces inside the flat, including enclosed balconies, provides a more practical measure for comparison.

What Is Super Built-Up Area & Built-Up Area?

Although RERA has shifted the focus to carpet area, understanding these terms can be helpful:

• Built-Up Area: This includes the carpet area, walls, balconies, corridors, and common areas like staircases. It typically exceeds the carpet area by 10-20%.
• Super Built-Up Area: It encompasses the built-up area and standard amenities like clubhouses and pools, usually exceeding the built-up area by 25-30%. This area is calculated by dividing the total common area by the number of units and adding it to the built-up area.

Impact of RERA Carpet Area

RERA carpet area has transformed the real estate market: 

• Transparency: The market is more transparent with standardised practices.
• Trust and Confidence: RERA instills trust and confidence among buyers.
• Mandatory Disclosure: Builders must mention the RERA carpet area in brochures and marketing materials.
• Pricing Basis: Sale prices must align with the RERA carpet area, ensuring fairness.
• Adjustments: Any variance leads to consideration adjustments, protecting buyers.

How RERA is Helping Save Money?

RERA's core goal is transparency and buyer protection. This scenario exemplifies it:

• In 2015, a builder quoted Rs 60,00,000 for a 3 BHK apartment, considering a super-built area of 1500 sq ft at Rs 4000 per sq ft.
• RERA mandates pricing based on carpet area, which, in this case, is 1200 sq ft, considering walls, service shafts, balconies, verandahs, and open terraces.
• The RERA-based price for the same 3-BHK apartment is Rs 48,00,000, revealing a potential saving of Rs 12 lakh for the buyer.
• RERA also prevents builders from quoting fictitious super-built-up areas, resulting in higher property taxes for buyers.

Conclusion

RERA's objectives are to promote openness in the real estate industry and protect consumers' interests. The above points will bring clarity regarding the RERA Carpet area.