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Noida homebuyers update: Flat registration can be done by 'carpet area'; here's how you will benefit

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Noida homebuyers update: Here's how the move will lower the overall property acquisition cost for homebuyers.

Noida homebuyers update: Flat registration can be done by 'carpet area'; here's how you will benefit
The Noida Authority has issued an order mandating that the registry of flats will now be on the ‘carpet’ area. This order comes  as a relief for a number of homebuyers who have long been demanding that the registration of a flat not be determined by the ‘super area’.
So, how will the new rule impact homebuyers?
According to Santhosh Kumar, vice-chairman, ANAROCK Group, this order by the Noida Authority will bring much relief to homebuyers as it will reduce their registration fee cost for flats and thereby lower their overall property acquisition cost.
"The Real Estate Regulatory Authority (RERA) mandated earlier that developers sell flats based on carpet area instead of the super built-up area. However, even while developers did mention the carpet area, there was ambiguity when it came to registration of flats. It was mostly charged on the super-area. With this order, there is absolute clarity and homebuyers are set to benefit," Kumar said.
But, what exactly is a carpet area?
According to RERA, carpet area is the net usable floor area of an apartment, excluding the area covered by the external walls, areas under services shafts, exclusive balcony or verandah area and exclusive open terrace area, but includes the area covered by the internal partition walls of the apartment.
In short, it is the area that can be covered with a carpet in a flat.
How is it calculated?
So, in order to calculate it, one can use this formula:
Inner wall area + floor area = Carpet area.
Multiplying the length and width of each room, inner walls, inner corridors, etc., and then adding them all up would give the carpet area of the house. One can refer to the house plan document to calculate carpet area, and additionally, once the walls are done, one can measure with a tape and verify, as per a property adviser.
How is carpet area different from super built-up area?
Super built-up area, on the other hand, includes the carpet area, the built-up area, as well as a share of the balance area, such as the stairs, lobbies and galleries, which can be used by all the residents
So, which is better? Carpet area or super built-up area?
Experts say that super area of a flat is usually more than the carpet area as it include area covered by the external walls, areas under services shafts, exclusive balcony or verandah area and exclusive open terrace area.
So, that's a factor which gives scope to developers to escalate the cost of apartments, Kumar said.
Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
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