Carpet Area: Carpet Area is the area where we can spread a carpet, which indicates to the area calculated from inner wall to wall distance inside the house. This would also include steps if any, inside the house. So essentially, Carpet area is the net usable area inside the house.
Built up Area: Built up area is Carpet Area + Area of walls and ducts+ 1/2 the Area of terrace. This is usually 10% more than the carpet area. A terrace is considered as half the actual area for calculating built up area.
Super Built up Area: This is built up area + area occupied by common amenities like lifts, corridors, awnings, club house, stairs. Super built up is usually around 25% more than Built up area. This is also called as Saleable Area.
Home loans can be obtained from both nationalized and private banks. Alongside, brokers and credit unions also give home loans. It is necessary to watch out for the interest rates before getting a loan.
Yes, you can co-own a property, which means that two or more persons will hold title to the same property. The three types of co-ownership are Tenants in Common, Joint Tenancy and Tenancy by Entirety.
You can acquire a Home Loan of up to 80% of the TCV (Total Consideration Value), or, your eligibility whichever is lower.
When you register the transactions of any immovable property, you are saving it permanently for the public records. You can acquire the title or the interests only when your property deed is registered.