Image Credits: DNA

Usually, the builder community refrains from any protest against the government. However, on October 13, Maharashtra Chamber of Housing Industry (MCHI) and its associate organisations held a peaceful march to show their disapproval & express solidarity on the recent suicide of Thane-based developer Suraj Parmar.

Most of the construction sites and offices belonging to developers were closed on Tuesday. Even architects and real estate agents participated in this protest.

Parmar, the President of MCHI-Thane  was purportedly fed up of the corruption in the system & the resultant delays in project completions. Apparently, he had named the elected representatives & the architects responsible for the suicide but fearing troubles for his Family later, they were removed.

mumbai flats

Did you get an amazing discount on booking a new flat? Before rejoicing, complete a few checks.

Real estate experts say many developers have increased the super built-up area by 60-70%. Which simply means that if you are buying a 1,000 sq ft apartment, yourcarpet area will only be 40-30%. So, you are not actually paying anything less. Developers simply reduce the carpet area and increase the super built-up space and lure home buyers with attractive discounts.

For beginners, carpet area is the livable part, the wall-to-wall area that can be carpeted while super built-up is the non-livable area like the lobby, lift space, flower beds, swimming pool, staircases etc. Since you pay for the super built-up area, discounts actually carry no meaning.

The real-estate jargoncalls it ‘loading’. In effect, it means that if you are buying a 1,000 sq ft apartment, your carpet area will only be 40-30%. Therefore, although you get a discount for your carpet area, since you are paying for the entire 1,000 sq ft, you don’t save anything with the discount. Earlier in Mumbai, there was only 20-30% loading.

According to Pankaj Kapoor, MD of property research firm Liases and Foras, , said that the super built-up concept is deceptive wherein buyers are literally squeezed. He appeals to buyers to first check the local body approved plan of the building and ask for carpet area only. Another property expert, Ajay Chaturvedi says, “Besides increasing super built-up areas, most developers also reduce the height of the ceiling. As per development control rules, the ideal ceiling height should be 11 ft, however, developers are limiting it between 9 and 9.3 ft,”.

Manohar Shroff, general secretary, Maharashtra Chamber of Housing Industry,said that since ‘super built-up’ is a very technical term, he appeals to developers to sell property on the basis of the carpet area. In super built-up, the rates look low.

Even Cidco was observed to be selling apartments with almost 65% loading. If a government body like Cidco does not hesitate in cheating buyers, properties advertised by private builders cannot be guaranteed at all. Home buyers only have to exercise caution before getting tempted with the striking discounts offered by developers.