Sunday, July 28, 2019

What is RERA Area? How to Calculate RERA Area?

Rera Area calculation

In the year 2018, the law is started to bind customer and builders under one law actually this is not first law before that MOFA law is exists but in new law the rules become too strict. and the government is done it's mandatory to all builders, Developers, Promoters, Joint Ventures, that means 
If you are going to build any building for commercial purpose like Residential Apartments, Commercial apartments, etc .you should do the registration under this law. This Law is known as RERA (Real Estate Regulatory Act).

After started this law in real estate there has a lot of misunderstanding and some people's are given negative comments against this law but after some training and information sessions given by RERA authorities, then they changed the mindset of people's as well as Builders.

now, this law is currently smoothly working in India. but need to do some improvement in it. like Case time. Reply timings.etc. But RERA is now improving positively. now will understand some technical details about RERA.

You can find the rules of RERA on his website www.maharera.gov.in. here we are going to understand the actual things about RERA. and Some peoples are doing some mistake and may chance to face some trouble to builder or customer.






Important Rules need to understand before registering in RERA.

1. The builder/promoter shall disclose the following points
1.  land cost in the real estate project.
2.  cost of construction in real estate project.
3. estimated the cost of the real estate project.
4. Disclosure by the promoter of ongoing real estate projects.
5. The promoter of an ongoing real estate project, in which all buildings as per sanctioned plan have not received occupancy certificate or completion certificate, shall be required to submit an application for registration for each such phase of the project, within a period of three months from the date of commencement of the section.
6.Area Loading Calculation for RERA.
Loading %  = Actual Built up Area/ Carpet Area for Sale X 100
Actual built up of building on all floors including refuge area + ground floor area of the staircase, lift, entrance lobby (excluding parking  & terrace floor)/ Total carpet area of all flats is their loading for sale.

Some time observed it is that few so-called studied architects are said to impress the builder as they can give a certificate of more carpet area of your flat than other for the benefit or for more profit or more area which can be beneficial to the builder.

Actually, What are they calculate the area and showing us this is maximum than others.
They are considering external walls without plaster from inside.

but actually internal plaster to external/Outer wall is generally 10 to 20/25 mm and this is to be deducted while considering internal carpet area because wall means brickwork with plaster.
Please be careful while calculating carpet area.

The very important point is Rera does not say to any builder to sale on the carpet. but the builder should have to mention it only. (one can sell on super built-up also).

Another Important point is builder should have to mention carpet in flat purchasers agreement & he /she has the right to check it & pay accordingly while taking possession. This is just opinion subject correction from studied developers.

RERA is applicable to all builder as well as Since Mofa ( Maharashtra Ownership of Flat Act) also exists in Maharashtra So any Builder should not mention any type of built-up area in agreement.

What to Mention in Agreement and How to Sale:


1.  Mention carpet area in agreement saying it’s Rera carpet area and also mention on brochure or cost sheet same area with lumpsum cost but do not mention the built-up area in agreement & brochure.

2)Many developers charge as carpet + 25 to 45 % loading. Few of us don’t do this they work out actually as follows.

Actual built up of building on all floors (excluding parking  & terrace floor) including refuge area + ground floor area of the staircase, lift, entrance lobby divided by total carpet area of all flats is their loading for sale.

Generally, it comes between 30 to 40% depending on the design.

Builders should be work out flat area in this way & multiply it with the rate but, but show & mention everywhere lumpsum cost with Rera carpet area.

3) Sale covered parking. This is a need to correction from experts as per some builders opinion.




Team
CBEC India
(Note: This information is not prepared to hurt anyone and this is collected from the market, actual calculation process may vary, If you want to know more details about RERA Rules, Please visit www.maharera.gov.in)

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