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Real Estate Forum on Buying property for Global Arena Joy I chsl in Naigaon East, Mumbai

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Q: I am buying a newly constructed flat in Naigaon East in Mumbai.
To calculate the cost of the balcony area, the builder has given me a formulae which is as below:
Cost of area = Area x 1.6 x 50% x Per sq.ft rate
Can anyone please help me with this 1.6?
I really can't understand this calculation.
Thanks,
Vinod
Latest Answer: Thanks for the explanations Sir.
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