Jun 08, 2023

RERA Carpet Area: Definition, Meaning & Importance

by Godrej Properties Limited

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Before understanding the importance and implications of RERA carpet area, it is essential to understand what RERA is. Let’s start with the basics of RERA and what it entails.

Overview of Real Estate Regulatory Authority (Rera)

Introduced in 2016, RERA is a regulatory framework introduced by the Government of India to protect the interests of homebuyers and promote transparency in the real estate sector. As per RERA, developers must register their projects with the authority while adhering to designated deadlines, allowing homebuyers to make safe and transparent real estate investments.

Objectives of RERA Regulations

The primary objectives of RERA Regulations may vary based across states. For example, anyone buying a property in Maharashtra may have to consider MOFA carpet area11 and so on. However, as mentioned earlier, be it MOFA or RERA, these acts were implemented to bring more transparency into real estate transactions, turning the sector transparent and fair for all. Some of the common objectives for RERA implementation are as follows:

  1. Protection of Hombuyers’ interest: RERA enables a transparent and fair deal in real estate dealings while preventing misleading proclamations and fraudulent contractual terms.
  2. Transparency: Under RERA regulations, the builder must furnish all the important details about the projects, such as the RERA carpet area, land titles, and timeline of delivery. This allows the homebuyers to make an informed decision.
  3. Timely Completion and Possession: RERA regulations require the developers to adhere to the declared timelines. RERA may impose penalties on delays and even provide offer redressal with compensation or refund of the amount paid in case of delayed delivery.

It is advisable to seek professional assistance to understand RERA in a particular jurisdiction to make a conscious call.

What is RERA Carpet Area?

Under RERA, the entire area of a property is calculated based on three factors that are RERA carpet area, RERA built-up area, and RERA super built-up area. Amongst all three, the Carpet area, as per RERA, gives a better estimation of the usable area of any property, whether it is a flat/apartment or an independent house. These days homebuyers can also calculate the RERA carpet area with online calculators for an accurate estimation.

Definition of Rera Carpet Area

Let us give you the simplest definition of the RERA Carpet area6. Upon calculation2, the RERA carpet area as per RERA7 is the net usable floor area within the walls of a residential unit, whether it is an apartment or an independent house. This excludes the balconies, terraces, and all the other spaces outside the carpet area. The primary advantage that a buyer is getting from RERA is that the real estate developer must provide the accurate calculation of the RERA carpet area of the residential unit to promote transparency in the dealings.

Importance of Rera Carpet Area for Homebuyers

Now that we know what RERA carpet area means let’s understand the importance of RERA carpet area for homebuyers:

Accuracy in carpet area calculation: RERA implementation has mandated complete disclosure of carpet area so that homebuyers know the exact usable area they will be getting.

Fairness: One of the most advantageous aspects is that a homebuyer will only pay for the saleable area as per RERA. With accurate details of the carpet area and super built-up area, buyers can have an exact estimate of the property value. 

Space Utilisation: The buyers can have a clear understanding of usable space within a residential unit and can decide whether it goes with their requirements and lifestyle preferences.

Transparency: Since RERA regulations mandate developers to disclose the carpet area and other vital details about their residential projects, homebuyers can rest assured of a fair and transparent deal.

Taking everything into account, the RERA carpet area is of utmost importance for homebuyers as it promotes transparency, fair pricing, and protection of their real estate investment.

Difference Between RERA Carpet and Usable Carpet Area

Theprimarydifferencebetween the RERA Carpet area and the carpet area is that under RERA, the usable area includes the thickness of the internal walls. Prior to RERA implementation, the carpet area included a balcony, verandas, and a terrace.
 

Frequently asked questions

1.How is Rera Carpet Area calculated?

Ans: RERA Carper area is the usable area within the walls of a flat or house, plus internal wall areas.

2.How can homebuyers verify the accuracy of the RERA Carpet Area provided by developers?

Ans: Since all the real estate developers must furnish their project details to RERA, homebuyers can check all the details on the official RERA Website, including the RERA carpet area.

3.Are there any legal obligations for developers to adhere to RERA Carpet Area guidelines?

Ans: Yes. All the developers must adhere to RERA Carpet Area guidelines and provide accurate measurements of residential units to prevent getting penalised.

4.Can RERA Carpet Area change over time due to renovations or modifications?

Ans: Yes, the RERA carpet area may change in case of renovations. However, the homebuyers will pay the recalculated price in case of such modifications.

5.Are there any future developments or improvements expected in RERA Carpet Area regulations?

Ans: There are no significant impending developments or amendments in RERA Carpet Area regulations.

6.What are the consequences for developers who provide incorrect RERA Carpet Area information?

Ans: In the event of a false declaration of dimensions or any misleading information, the builder/developer will have to refund the entire amount and may even have to pay a penalty to the RERA authority.

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