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Many property buyers think, home with lesser rate per sq. ft. is good to buy. However, there are several parameters to be considered to adjust the price towards a common rate for evaluation. Some of the parameters taken into consideration to adjust the rate are ‘Possession Date’ of home for floor efficiency; ‘Un-divided Share’ (UDS) of land, and ‘Carpet Area’. Let us see how these parameters used to adjust the value of a home.
Possession Date
Rate per sq. ft.is adjusted when there is variation in possession date. It should be increased if the possession delays since there are possibilities of cost of rental, interest on EMI, jeopardy on project not completing on time, and etc. Hence, for delay in possession from the mentioned dated 1% in price per sq. ft. for every month increase.
UDS (Un-divided Share of land)
Un-divided share of land is the part of land that an apartment owner will hold. As multiple storeys are built on common land where individuals cannot identify their portion of land;however, they will have ownership for the share of land with respect to the area of apartment bought. With higher UDS the land owner gets more land area. Land area is the root of price increase and building is always a disparaging asset.
Carpet Area:
Carpet area is the area inside the apartment / villa. The Plinth Area / Built up Area comprise wall area of home, which is generally Carpet Area plus10%. While, Super Built-up Area comprises of Carpet Area including staircase, common areas like lift, lounge, staircase, head room, etc., which is generally Built-up Area plus 10%. On super built up area about 75% will be the carpet area. More percentage of Carpet Area over Super Built-up Area is better for home buyers, as they get more living space for the money they are paying.
Apart from the parameters one should also consider amenities provided by the builder, specifications and locations to adjust on rate per sq. ft. For the above adjustment on rate per sq. ft., home buyers also should also estimate the probable possession date instead of builder announcement date.
Possession Date
Rate per sq. ft.is adjusted when there is variation in possession date. It should be increased if the possession delays since there are possibilities of cost of rental, interest on EMI, jeopardy on project not completing on time, and etc. Hence, for delay in possession from the mentioned dated 1% in price per sq. ft. for every month increase.
UDS (Un-divided Share of land)
Un-divided share of land is the part of land that an apartment owner will hold. As multiple storeys are built on common land where individuals cannot identify their portion of land;however, they will have ownership for the share of land with respect to the area of apartment bought. With higher UDS the land owner gets more land area. Land area is the root of price increase and building is always a disparaging asset.
Carpet Area:
Carpet area is the area inside the apartment / villa. The Plinth Area / Built up Area comprise wall area of home, which is generally Carpet Area plus10%. While, Super Built-up Area comprises of Carpet Area including staircase, common areas like lift, lounge, staircase, head room, etc., which is generally Built-up Area plus 10%. On super built up area about 75% will be the carpet area. More percentage of Carpet Area over Super Built-up Area is better for home buyers, as they get more living space for the money they are paying.
Apart from the parameters one should also consider amenities provided by the builder, specifications and locations to adjust on rate per sq. ft. For the above adjustment on rate per sq. ft., home buyers also should also estimate the probable possession date instead of builder announcement date.
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