Quote:
Originally Posted by ondabhai
Seems there had been quite a bit confusion on the term loading.
Loading is not a standard term and hence can NOT be calculated using a formula.
Loading is a commonly used term in RE and hence interpreted differently by different people and in different region.
The root cause lies in the concept of apartment pricing and greed of builders.
In India, Apartments are not sold by CARPET areas, which can be easily measured without any grey areas.
To fuel the greed of builders, they innovate a term called Super Area or Saleble area. There is absolutely no formula to calculate Super Area or Super Built Up Area.
At the beginning, almost 20 years back, it used to be simple ... total foot-print of the building divided by number of flats in each floor used to give super area. In case the flat sizes are not equal, then an approximate proportion used to use.
But the builder were not happy.... so they keep on adding an imaginary percentage on top of the above number ... on the pretext of common facilities like guard house, pump house (club/swimming pools are very recent). Traditionally this additional percentage increase used to be called as LOADING. It can be anything from 10% to 40%. Mumbai, Ahmedabad, Surat has a very high loading. 30% loading is generally considered normal.
There is absolutely no logic on the above percentage. It's just the whim of the builder... you take it or leave it.
Recently, some people use loading to define density of the project... simply no of flat per acre.
Since there is no formula, you yourself need to measure the size of key areas (like hall, dinning, bed room, kitchen) and then decide. Two similar size flat can have significant difference in key areas or REAL USEFUL AREAS
Hope this clarifies. If you want to comment, please comment practical aspects, not some bookish formula
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Exactly ... Gbhai ...
Same thing i wanted to tell the member but by making own calculation is easy to satisfy yourself but such figures are not at all Practical because reality with builders are beyond the limits and anyone's calculation will be weird.
Since there is no rule .... People should understand, there is no calculation existing in Real Estate for "Loading" in Law or in any Book.
But there are following facts which people should know before making any xyz imaginary calculation.
As per rule by Authority, Builders can make some profit (in percentage). Here it is completely depend upon different States and Policy by Authority. Like in Gurgaon ... any builder can make the profit up to 15 % where normal buyer understands and later on builder refers that profit terms by saying ... "Common" or "Wastage" or "Loading" in Real Estate.
If you see such calculation of builder, actually he is making the profit by saying 15 % (Loading) but unfortunately our builders are over smart and they do not follow such "Percentage" but they put over "percentage" on Carpet area from 15 % up to 40 % and making huge profit in a project. Making rules by them selves by saying ...for Residential - 25 % and Commercial 35 to 40 % which look for buyers standard Rules and Clauses in RE
It is not like that, Authority really does not know about this and closing eyes - what builders are doing but its all about money Buddy ... small percentage of cut can easily settle such issue with Authority or person who comes for Auditing.
Experienced builder will never use the terms "Carpet Area" during selling or in BBA clauses, clever or smart builder always use term "Super Area" or " Covered Area " which we know again have variation up to 5 %.
between carpet area and cover area.