Loan Against Property

What is Carpet Area?

How to Calculate Carpet Area?

Realtors and agents often refer to terms like carpet, built-up or super built-up area when explaining a house property’s specifications to a potential buyer. These terms, however, remain outside the realm of common man’s understanding. Take a look at one such term that plays a critical role to help you finalise a suitable house.

Carpet area is the floor space available for carpet layout. It is calculated as the wall-to-wall distance of a particular housing unit and is the total space in a house open for use.

As per the guidelines of the RERA Act, developers mandatorily need to disclose the carpet area of each apartment, based on which the apartment’s sale price is calculated.

It Consists Of The Following Spaces In A House:

  • The usable floor area of living room, dining room, bedroom, dressing room and any other room
  • Usable floor space of kitchen and bathroom
  • The thickness of the inner walls in a personal space

Spaces Not Included In Carpet Areas:

  • The thickness of external walls
  • Terrace space
  • Lift area
  • Lift lobby
  • Corridor space

Know the carpet space before finalising your house purchase so that you have sufficient usable space left to use.

Additional Read: Difference between Carpet Area, Built-Up Area

Carpet Space Calculation:

Builders often refer to the super built-up area as the saleable space and finalise the price on this area. A super built-up area is a sum of carpet space, wall thickness and shared space.

Thus, if the super built-up area is 1,500 Sq. Ft., with the three elements divided in 70:20:10 proportionately, the carpet space is 70% of 1,500 Sq. Ft., i.e., 1,050 Sq. Ft.

Once you finalise the house as per its carpet space, avail a Loan Against Property from Bajaj Finserv to finance your purchase. Get this Mortgage Loan with a high- loan amount of up to Rs.3.5 Crore against mortgage eligibility and documents to fulfil your housing dreams. Bajaj Finserv makes financing your home affordable with attractive Property Loan features and benefits. So, select your house property and apply for loan at the earliest.