Hi All,

I am almost nearing to close a deal for a 2 BHK (50 L Baner) , but while doing some research around the saleable area i got a little confused, so i decided to come here for advice.

any focused replies around the queries would be much appriciated.
:bab (60):

Query 1:

Am i corrrect to calculate the saleable area as..
saleable area = (carpet area * 1.25) + (Terrace area/2)

The builder has calculated as
saleable area = (carpet area + (Terrace area/2)) * 1.25

which is the correct way?? This formule changes the final price by 1.25 lacs in my case. :bab (30):


Query 2:

The brochure provided by builder has room dimensions, calculating the sq feet area by that & then totaling them together does not match the Printed carpet area.

while calculating, i did not consider directly considered i.e. 4'10" as 4.10 sq ft but i considered it as 4.83 ( 4 + (10/12)).

With this equations, the brochure specification provided & my calculations differs by approx. 145 Sq. ft. on the total carpet area. i.e. 145 SQ Ft less than the builder provided information.

I have requested for a detailed plan of the flat, the builder said would provide in 2 days.

Am i doing anything wrong here or missing a vital component?

anticipating some quick & replies. i am sure i am not the first one to facing this music... please share your thoughts, as this will help me to decide on my future home.

Regards
Nikhil K
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  • thanks, but i am still evaluating & have asked the builder for working copy of the plan....
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  • As far as i know , at present almost all the builders in pune are charging 30 % loading on carpet as saleable area.
    Saleable area = Carpet + 30% loading


    One query to Jitu Sir ,

    I heard now as per new PBAP norm , are all associated builders are charging full terrace area as saleable area ?

    In this case calculations come as :

    Saleable area = Carpet + 30% loading + terrace ( 100%)
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  • Originally Posted by amolk09

    One query to Jitu Sir ,

    I heard now as per new PBAP norm , are all associated builders are charging full terrace area as saleable area ?

    In this case calculations come as :

    Saleable area = Carpet + 30% loading + terrace ( 100%)

    Dear amol09,
    Its unfair on my part to comment on procedures & practices followed by other builders as its upto their discretion to decide their norms.
    In our case we charge 25% loading and 50% on terrace.
    Saleable Area = Carpet x 1.25 + Terrace x 0.5.
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  • For me carpet area is what it means - where you can put a carpet if you want to do so. Please exclude terrace, balcony, external lobby, etc.

    This may be unscientific, but it is as close to real life as it gets.

    Terraces are not included in FSI, so do not include land cost. Everyone knows what is construction cost as compared to land cost.

    So carpet area is related to land cost thru FSI, and that is all what counts.

    Take a tape, measure yourself. Then divide total cost excluding stamp duty / registration by this carpet area. This is the rate you are paying.
    In this total cost, add clubhouse, MSEB, car parking, builder's mercedes cost, anything out of your pocket.
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  • This is exactly what said before, you are currently paying 25-50% higher than the actual "high price" of the flat...a 3000 Rs per feet actually is about 5000 Rs per sq feet in Pune....
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  • builders mercedes :bab (59): damn hillarious btw "jitu sir" i hope u do carry atleast one mercedese or equivalant sedan for the purpose of luxury,:bab (6):

    Originally Posted by abeerbagul
    For me carpet area is what it means - where you can put a carpet if you want to do so. Please exclude terrace, balcony, external lobby, etc.

    This may be unscientific, but it is as close to real life as it gets.

    Terraces are not included in FSI, so do not include land cost. Everyone knows what is construction cost as compared to land cost.

    So carpet area is related to land cost thru FSI, and that is all what counts.

    Take a tape, measure yourself. Then divide total cost excluding stamp duty / registration by this carpet area. This is the rate you are paying.
    In this total cost, add clubhouse, MSEB, car parking, builder's mercedes cost, anything out of your pocket.
    CommentQuote
  • Originally Posted by mayurk
    builders mercedes :bab (59): damn hillarious btw "jitu sir" i hope u do carry atleast one mercedese or equivalant sedan for the purpose of luxury,:bab (6):

    Dear mayurk,
    Yes. I drive a mercedes (mentioned somewhere before). Could be abeer had noticed it when he visited our site. :bab (34):
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  • Well, I didnt know you have a mercedes, but assumed it must be part of builder's basic uniform prescribed by PBAP.
    Anyways, you must be on a really cost cutting mission that you drive a mercedes instead of rolls royce / ferrari :)
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  • Abeer,

    I dont really mind Jitu_Sir driving a merc or a ferari, if he has bought it from the money earned FAIRLY & HONESTLY....

    Only he will know that, and maybe some of us know that, that maybe not fair for him to drive around in a Merc when his endusers are savaged to the point that they cannot even afford to buy a cycle.

    But, in business, I dont expect him to be the Warren B, who lives in his small town, drives his old small car, dresses fairly as a common and yet he is the second richest in the world...and earned all his money fairly and honestly...

    Such MEN are hard to find,surely not in India, leave alone PUNE.
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  • I do think he has earned his money honestly and legally. A fair price has two aspects to it:
    1. Market dynamics:
    Builder is not morally responsible to keep prices stable. This is what buyers forget. Today, he has raised prices because he finds demand. Tommorrow he will happily lower prices if demand goes away.
    That time, buyers should not blame builder for lowering prices.

    2. Cartel which monopolizes raw material and thus prevents free entry of new business:
    But builders forget that today there is a politician - builder cartel in pune which prevents new entrants (with new project concepts) from buying raw material (i.e. land) safely and securely.
    Due to this, Jitu himself is facing severe problems that even with his crores of rupees, he is unable to buy land safely anywhere in pune for his next project. Otherwise, with so much goodwill, what prevents him from launching Samrajya 2, 3?
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  • Originally Posted by abeerbagul
    I do think he has earned his money honestly and legally.

    Dear abeer,
    Glad to see your frank opinion about me and my practices. We try to follow the basics.
    CommentQuote
  • Originally Posted by abeerbagul
    I do think he has earned his money honestly and legally. A fair price has two aspects to it:
    1. Market dynamics:
    Builder is not morally responsible to keep prices stable. This is what buyers forget. Today, he has raised prices because he finds demand. Tommorrow he will happily lower prices if demand goes away.
    That time, buyers should not blame builder for lowering prices.



    Abeer let us not blame to buyer community as a whole, especially a genuine buyer who is buying for this need.

    The RE price hike in Pune is not becuase of the Organic demand. Evryone knows that it's an act of rich investors & builders. Wherein investors invest money & builders assure them good returns. This is how more than 100-200 units are booked on the day one & rates go up. Because of which common people who are in real need get panic & try to close a deal as early as possible. On the completion all investors try to get out by opening those units for sell. This is what happend to most of the projects in Pune during 2005-2007.

    But investor-builder lobby should understand that this artificail demand-growth policy can not sustain longer, they need genuine buyers who have capacity to buy otherwise who will buy the units blocked by invetors? Another investor? A good joke? Is not it? Common people who are clever enough to understand this do not get panic & step up catiouslly in this volatile market.
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  • Originally Posted by rsatitkar
    Abeer let us not blame to buyer community as a whole, especially a genuine buyer who is buying for this need.

    The RE price hike in Pune is not becuase of the Organic demand. Evryone knows that it's an act of rich investors & builders. Wherein investors invest money & builders assure them good returns. This is how more than 100-200 units are booked on the day one & rates go up. Because of which common people who are in real need get panic & try to close a deal as early as possible. On the completion all investors try to get out by opening those units for sell. This is what happend to most of the projects in Pune during 2005-2007.

    But investor-builder lobby should understand that this artificail demand-growth policy can not sustain longer, they need genuine buyers who have capacity to buy otherwise who will buy the units blocked by invetors? Another investor? A good joke? Is not it? Common people who are clever enough to understand this do not get panic & step up catiouslly in this volatile market.

    100% true!!!
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  • Originally Posted by rsatitkar
    Abeer let us not blame to buyer community as a whole, especially a genuine buyer who is buying for this need.

    The RE price hike in Pune is not becuase of the Organic demand. Evryone knows that it's an act of rich investors & builders. Wherein investors invest money & builders assure them good returns. This is how more than 100-200 units are booked on the day one & rates go up. Because of which common people who are in real need get panic & try to close a deal as early as possible. On the completion all investors try to get out by opening those units for sell. This is what happend to most of the projects in Pune during 2005-2007.

    But investor-builder lobby should understand that this artificail demand-growth policy can not sustain longer, they need genuine buyers who have capacity to buy otherwise who will buy the units blocked by invetors? Another investor? A good joke? Is not it? Common people who are clever enough to understand this do not get panic & step up catiouslly in this volatile market.



    Very well said !!
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  • Originally Posted by pcpune
    Jitu_Sir,

    How are the other areas like passages,internal lobbies,door jams etc part of the carpet area...

    Again, there have been many cases of cheating on the carpet area itself,so plz get your carpet area checked by a valuation expert...

    Also, very shortly with a regulator (already MOFA rules exist) that sale/purchase can be made only on Carpet area, hence the amount you are paying on Saleble area would be useless....

    You will incur a loss of 5-10 lacs easily once this rule kicks in...


    Hey any idea when this rule is coming in effect? It should be a relief for us to pay for what we are using only i.e. carpet area.
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