Ban terms like super built up area in real estate
a majority of builders in North India use terms like "super built up or super area" in their sales pitches. RERA should clamp down on it immediately and prove its worth.
Buyers should also ask every sales person to show them the calculation used to arrive at "super area."
This is a scam that should no longer run. more
Buyers should also ask every sales person to show them the calculation used to arrive at "super area."
This is a scam that should no longer run. more
Viewed by 622
View all 11 comments Below 11 comments
RERA is favourable to builders and developers. Government have yielded to the bigwigs. Common man don't understand various clauses in RERA. Government must come out with a single rule that only carpet area which can be easily measured, must be mentioned in teh sale deed and the rate too. Please be rationale and simplify RERA to favour the buyers and certainly not builders. Again black money is thriving rampantly in this sector across the nation. I don't understand the logic behind fixing the stamp duty and registeration fee on ready reckoner or market value or guide line value instead of the sale value mentioned in the sale deed. Of course price must be comparable with that of market value so that buyer does not under value the purchase. In Tamil Nadu, guide line value is almost insignificant with the actual transactions. Again once the sale deed is concluded all other legal formalities should end there by giving the buyer the complete right on the property but in actual situation it is not the case. IN TN, DTCP approval has come now interfering with the sale deed happened 30 years and more when this authority was not in place and now makes a killing in black money to accord approval of such sale of plots or flats or houses. Same prevails in Maharastra in different format. Will the governmenst at the center and state wake up to stop this anamoly. more
Aug 25
The author seems to be unaware of RERA rules where it is clearly defined what is Super built up area and how it is calculated. may be when she is buying an apple she will touch, feel. smell, and lick if possible but when she buys an apartment or flat she does not bother about understanding various factors that decide the quoted price by the builder. I am not going to describe various definitions of RERA or the builders guide. It all depends on a person's mental ability to understand what he/she is going to buy. Most of the "growling" customers do not bother to study or seek help from people who know how the industry work. Ignorance is not a bliss when buying millions worth of "real estate" and the builders and promoters are not push cart vendors. more
Aug 22
There is another term based on which corporation calculates taxes here. Livable area. One just cant understand what do they mean with it. And despite being shown carpet area as approved in builders documents it still has its own calculations which obviously are more than carpet area so that more revenue as property taxes are collected for their profligacies like naming ceremonies of roads , making putlas and so on. ReRa must very clearly lay down clear terminology for the whole country. more
Aug 19
The Income Tax rebate on Housing Loan repayment and the interest payment is generating the demand for Housing sector and the Real estate business is flourishing. This facility may not continue for long. more
Aug 19
