Know these real estate jargons before making an investment!
Are you going to make an investment in real estate? Well, good idea! The property market is full of opportunities, but investing in real estate is a big decision that must be taken very carefully. For instance, there are many local terms that are now being replaced by standardized real estate jargons. Having an understanding of these terms is something that can help you make informed decisions.
Real estate jargons to know before making an investment
So, before investing your hard-earned money, check out these commonly used terms.
It's the net usable floor area or the area that can actually be covered by a carpet excluding the thickness of inner walls. This area excludes areas that come under service shafts as well as a balcony or verandah area.
Super buildup area
Lift shafts, corridors, stairs, lobby all the other areas besides the area occupied by individual flats, buildup area include all these common areas.
Super buildup area includes the buildup area including the fair share of the common areas that are equally divided among all the flats in a particular building.
Floor space index (FSI)
Also known as floor area ratio (FAR), this is the ratio of the total floor area of a building (Buildup area) to the total plot area (land), the amount of area you can build upon a plot.