How is balcony calculated in sale amount according to new RERA

Q: According to rera, if all flats are sold on purely carpet area basis, how will balcony or pocket terrace be sold to owner? How will that be calculated legally?

Ramesh Kini,

5th August 2017

Real estate News in Mumbai

real estate (regulation and development) bill

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real estate act 2016

maharashtra real estate regulatory

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Replies (2)

As stated in the circular, the terrace, veranda, external wall and the balcony will not come under the carpet area even it is exclusively dedicated to the flat owner whereas the internal partition wall will be included in the carpet area. This move by the Maharashtra RERA will bring consistency in the real estate sector and will bar developers from selling flats on the basis of the built up area.

Sankalp, Mumbai

9th August 2017

Comment

Hi Ramesh,
In many projects, loading accounts for approximately 30-35 percent of the total area. Accurate information about a project site, layout and plot, will empower the buyer to take an informed decision. It would also become easy for owners to understand the components of their tax liability on property and the rights and easements associated with a property, when it is part of a larger common structure or building.

Priyanka Vats, Pune

9th August 2017

Comment

According to me, property rates per sq ft, will certainly go up, as the total price will be divided by a lower denominator like carpet area, as against super built-up area. Nevertheless, now, at least we will know what we are getting into. We will no longer get a 500 sq ft apartment, while thinking we have purchased a 700 sq ft apartment

ujwal nikam, Pune

9th August 2017