Some of the key terms used in Real Estate

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Mentioned below are some of the key terms used in the real estate industry:

Carpet Area:

The Area between the walls that is actually usable space in a house. Carpet area is calculated by multiplying dimension of room, i.e. length x width. Total carpet area is calculated by adding carpet areas of all rooms.

Built up Area:

Carpet Area + area occupied by walls, doors of the unit. Generally built-up area is not calculated separately, it is included into the loading factor.

Super built up Area:

Carpet area + terrace + balconies + areas occupied by walls + area occupied by common/shared construction (e.g. lift, stairs, club house). Generally builders use loading factor on carpet area to arrive at super built-up area. For example, if carpet area is 500, and loading factor is 1.3, then super built-up area is 500 x 1.5 = 750.

Saleable Area: Generally super built-up area is saleable area.

FSI: Floor Space Index. This is the ratio of land to carpet area.

TDR: Transfer of Development Rights: (TDR) means making available certain amount of additional built up area in lieu of the area relinquished or surrendered by the owner of the land, so that he can use extra built up area either himself or transfer it to another in need of the extra built up area for an agreed sum of money.