As a new homebuyer, there are several things one must consider, such as budget planning, home loan arrangements, location, developer, apartment size, amenities, paperwork, legal formalities, etc. In addition, one concept, a flat's RERA carpet area is critical in real estate. This blog explains what RERA carpet area means and other relevant information in detail.
DEFINITION OF RERA CARPET AREA
Since the Real Estate Regulatory Authority's (RERA) introduction in 2016, a new terminology known as 'RERA carpet area' has emerged in the Indian real estate industry. What carpet area means - as per the definition provided under RERA Act's Section 2 (k) - is the net usable floor area of an apartment, excluding the area covered by the external walls, area 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.
RERA CARPET AREA INCLUSIONS: Living room, Bedroom(s), Toilet(s) & Bathroom(s), Kitchen & Dining room, Other rooms, if any. The flat's internal partition walls
RERA CARPET AREA EXCLUSIONS: Area of external walls, Utility areas - exclusive balcony/verandah area / exclusive open terrace area, The area under service shafts
Now that you know what RERA carpet area means, the following is an easy formula to calculate what is RERA carpet area in flat:
RERA Carpet Area = Net usable floor area of an apartment (excluding the external wall area, area under service shafts, exclusive open terrace area, exclusive balcony, verandah area) + Area of the Internal Partition Walls of the Apartment.
It has eliminated unnecessary confusion among homebuyers since there's only one term to denote the apartment size. Aside from its inclusion of the internal wall area, the RERA carpet area gives a close enough estimate of the flat’s usable area that will be available to the occupants.
Before you finalise a property, ensure that your developer has specified not just the flat's configuration but also what is RERA carpet area of flat in the marketing brochures as well as in the sales agreement and deed.
In ready-possession properties, you won't find any discrepancies in the RERA carpet area size of the apartment you buy, since you are given exactly what the developer promises.
This blog attempts to educate you about what RERA carpet area means, so that you can gain more confidence as a buyer or investor. Understanding the concept thoroughly can give you an edge over other prospective buyers in the market.