New name for super built up is “Liveable Area”

flatBy  Dr Sanjay Chaturvedi

By Accommodation Times News Services

Carpet area is defined under various provisions of Development Control Regulation. It is Inner Wall surface to Inner Wall surface. It should not count Lift wells, Staircases, Balcony, Floor Beds, Compound, decks, parking, garage and other common areas. The fungible FSI given free to accommodate all these areas. In Maharashtra Ownership Flat Act , MOFA,( will be repealed by Maharashtra Housing Regulatory Act 2012 soon after president’s consent) it is expressly provided that all the areas in the model agreement must be carpet areas as defined DCR, i.e. inner surface of wall to wall inner surface of wall and height being 3 mtrs i.e. minimum 10 ft.

Now a new campaign by L.A.P. (Liveable Area Price) is defining liveable area and educating people of so called new concept i.e. Liveable Area. Why can’t we call sped a sped? Why can’t carpet area as defined in law and various provisions of DCR, MOFA and Stamp Act be transacted for a better transparency. Just like Mayfair Housing Ltd, the only builder to sell flats on carpet area, in the name of carpet area we get campaigns to confuse our selves by new concept. The website on LAP says :

How can a person actually determine whether the price of the house per sq. ft. they are buying is reasonable?

This is where LAP or ‘Liveable Area Price’ comes in.
A house is comprised of the Living room, bedrooms, kitchen, toilets, corridors, passages, verandahs and decks. However, there are many areas in a home that you do not physically live in! These are the passageways, corridors, decks and verandahs. This means that Liveable Area will comprise of the area of the Hall, Bedrooms, Kitchen, etc but will not consider the passage space in the lobby, or any deck. Thus price per square feet of this Liveable Area is the Liveable Area Price or LAP. Home designs that try and reduce these spaces allow for more liveable area to be available in your homes and hence a lower LAP. So in a home that is LAP efficient, a buyer ends up paying for the space he/she is going to Live In and not for space that is wasted because a LAP efficient home will have minimum space wastage. So, the next time you or someone you know is thinking of buying a house, tell them all about LAP.

The definition of Liveable area is “Measurements are taken to the exterior surface of the exterior walls. Measurements are rounded to the nearest foot.” Hence the concept of Built up area which includes area below wall also counted in Liveable area.

Although we have rules to sell and buy real estate on carpet area, as defined in DCR and MOFA and also in Bombay Stamp Duty Act and Indian Registration Act, we have brand new concept of liveable area.

 

 





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One thought on “New name for super built up is “Liveable Area”

  1. IMPROMPTU
    Pending and subject to a close reading of the new enactment in the offing, from the buyers’ viewpoint , the long winding explanation of the new concept is prima facie nothing but much ado about nothing. For what one knows or can readily conjecture from the erstwhile state of affairs, may be, at the end of the day, promoter is going to charge, and buyer is going to be called upon to pay, the same price, for his ‘flat’ property, as if the concept change has no role to play in the modality of ‘pricing’. Further, one is not clear on what the write-up conveys as regards stamp duty, etc. In any case, for the same reasoning, the concept change may not impact, quantum wise, the incidence of stamp duty (besides VAT, property tax, etc.), which can be expected to be levied as so far, on the so called ‘fair market value”. The writer will do well to reapply his mind, review on the foregoing aspects; and bring out, with sufficient clarity, for the benefit of the readers, the real thing in store for the future.

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