Carpet Area VS Built-up Area VS Super Built-up Area — What do they mean?

 

While buying homes, buyers should know the different types of real estate jargon and what they mean. One of the most common factors that decide the price is the total area of the house. Real estate developers may use varied measuring terms such as Carpet Area, Built-up Area, Super Built-up Area, etc. In this article, we will simplify these terms to give you a better understanding of what you are paying for and how to calculate each of them.

Knowing these terms helps potential buyers to be in a better position to make real estate investment decisions. Let us look at each of these in detail.

What is Carpet Area?

The actual usable space inside the apartment or unit’s walls is known as the carpet area. The term “carpetable area” refers to the space that can be covered by a carpet. The living area, kitchen, bathrooms, and bedrooms are all included in this measurement. The carpet area is frequently regarded as the most important of the three because it represents the actual area that the buyer will use.

A simple formula to calculate the Carpet Area of a property is as follows:

Carpet area = (Area of bedroom + living room + kitchen + balconies + toilets) — the thickness of the inner walls.

What is Built-up Area?

The term “built-up area” applies to both the carpeted area and the thickness of the apartment’s walls. It is also referred to as the foundation region. Because it accounts for the space the walls fill, the built-up area is larger than the carpet area.

As explained above, the Built-up Area is calculated by adding the Carpet Area, exterior wall areas, corridors, and balconies (if any).

Built-up Area = Carpet Area + Exterior and Interior Wall Areas + Terrace and Balcony + Corridor (if any)

What is Super Built-up Area?

The term “super built-up area” describes a space that includes both the built-up area and the proportionate area of shared spaces like the lobby, stairwell, lift, etc. It also includes the amenities offered within the structure, such as the pool, gym, community center, etc. The biggest of the three measurements also referred to as the saleable area, is the super built-up area. It is important to remember that the super built-up area encompasses areas that the buyer may not necessarily use.

This is calculated by adding the carpet area and the proportionate common areas. The calculation of this area is a bit more complicated than the others as the proportion is decided by the real estate developer. It is sometimes calculated by adding the carpet area and 1 + loading factor. The loading factor is the difference between the super built-up area and the carpet area.

Shapoorji Pallonji provides complete assistance to homebuyers looking for new properties through consolidated pricing details and floor plans which enable buyers to understand the total value of the property. Some of the ongoing projects by Shapoorji Pallonji in the country are:

• BKC 28 in Bandra, Mumbai
• Vanaha in Bavdhan, Pune
• The Designate in Khar-Santacruz, Mumbai
• Northern Lights in Pokhran, Thane
• Vicinia in Chandivali-Powai, Mumbai
• Parkwest in Binnypet, Bangalore
• SP Residency in Phursungi, Pune
• Shukhobrishti in New Town, Kolkata
• Joyville Virar in Vasai-Virar, Mumbai
• Joyville Sensorium in Hinjawadi, Pune
• Joyville Hadapsar Annexe in Hadapsar, Pune
• Joyville Gurugram in Gurugram
• Joyville Western Heights in Howrah, Kolkata

Originally published at https://realestateandepc.wordpress.com on March 23, 2023.

History of the construction of the RBI building in Mumbai

 

Mumbai’s Reserve Bank of India (RBI) office building is a towering landmark that has graced the city’s skyline for over four decades. Constructed in 1980 by the renowned construction company Shapoorji Pallonji, the 27-story building is 350 feet tall. The scope of work for this project by Shapoorji Pallonji included civil and structural works for the building, two basement levels, and MEP works. The building’s design features false floors and other architectural elements, making it an impressive feat of engineering. Shapoorji Pallonji was also commissioned with the civil and structural development of the old RBI building in Mumbai, completed in 1950.

The construction of the RBI building marked a milestone for the Indian financial sector. The completion of the building in November 1980 was a testament to India’s growing economic strength and provided the RBI with a modern and functional headquarters. The building’s construction was particularly noteworthy as it was built during a period of austerity when the Indian government banned expensive projects.

The RBI building has played a significant role in India’s economy by safeguarding the country’s bullion and issuing its notes and coins. Additionally, the RBI is responsible for formulating and implementing India’s monetary policy, managing the country’s foreign exchange reserves, and regulating its banking system. The building’s imposing presence is a testament to India’s financial strength and has become an iconic symbol of Mumbai’s skyline.

The RBI building is not only a vital hub for the Indian financial sector. It has also become an essential part of Mumbai’s cityscape. The building’s design and construction have made it a popular destination for architecture enthusiasts visiting Mumbai. The building’s completion in 1980 was an important step forward for India’s economy and is a landmark achievement for the country.

Today, the RBI building continues to serve as the headquarters of the Reserve Bank of India, a crucial institution that plays a significant role in the Indian economy. The building’s design and construction have stood the test of time, and it is an essential component of Mumbai’s cityscape. Its towering presence is a testament to India’s financial strength and commitment to modernisation and progress.

Apart from this iconic development, Shapoorji Pallonji has also constructed other landmark projects, including the Bank of India building, with a stunning glass structure, the iconic World Trade Centre, and the HSBC building in South Mumbai. Furthermore, Shapoorji Pallonji has also constructed the LIC building in New Delhi, the International Exhibition Centre in Bangalore, ONGC Office Building in Dehradun, Vallabh Bhawan Extension in Bhopal, and the Stratum @ Venus Grounds in Ahmedabad.

Originally published at http://realestateandepc.wordpress.com on March 23, 2023.

Hidden Costs while Investing in Real Estate

 

Buying an apartment in India can be exciting. But it also can be confusing sometimes. Along with finding the right location and apartment, buyers also need to know the probably hidden costs involved in the process. These costs can increase the overall cost of the property purchase.

This article explores some hidden charges buyers may incur when investing in real estate.

Stamp duty is a state tax levied on buying a property. The stamp duty rate varies from state to state and can range from 4–8% of the property value. Buyers should factor in the stamp duty while budgeting for their property purchase. Registration fees are payable to the local government for registering the property in the buyer’s name. The registration fee can vary from state to state, and buyers should research the applicable fee to avoid surprises.

GST is another hidden cost applicable to the purchase of under-construction properties. The GST is a tax levied on goods and services sales in India and applies to under-construction properties. The GST rate is currently 5% for under-construction properties, and buyers should factor this while budgeting for their property purchase.

Buyers may have to pay legal fees to a lawyer for reviewing and drafting legal documents related to the property purchase. The charges vary depending on the lawyer’s experience and the complexity of the transaction.

Buyers pay brokerage fees if a real estate agent is involved while buying a property. The brokerage fee can range from 1–2% of the property value.

Many apartments come with common areas and amenities that require maintenance. Buyers may have to pay maintenance charges to the building society or the developer. The maintenance charges can vary depending on the amenities and the apartment size.

Property tax is a local tax levied on the property owner by the municipal corporation or local government. The property tax can vary depending on the location of the property and its value.

Buyers may have to pay if they wish to purchase a parking space. The parking charges can vary depending on the location and parking space size.

In conclusion, buying an apartment in India comes with several hidden costs that buyers need to know. These costs can significantly increase the overall cost of the property purchase, and buyers should factor them while budgeting for their purchases. Conducting thorough research and consulting with a reliable real estate agent helps buyers make informed decisions and avoid surprises.

Shapoorji Pallonji Real Estate offers assistance not only in helping you with some of the best properties in the country but also figuring out your total cost for investments of every size. To know more about our projects all over the country, visit shapoorjirealestate.com.

Originally published at http://realestateandepc.wordpress.com on March 13, 2023.

Difference between MW, MWp and MWh

 

When it comes to measuring power output and energy, there are several terms that are commonly used, including megawatts (MW), megawatt hours (MWh), and megawatts peak (MWp). While these terms may sound similar, they actually refer to different things.

In this blog, we will explore the differences between these terms and how they are used in various contexts.

MW: Megawatt

* MW is a unit of power that measures the rate at which energy is generated or consumed.

* It is commonly used to describe the output of electrical generators or the power consumption of large electrical loads.

* One MW is equal to one million watts, which means that a 1 MW generator can produce enough energy to power around 1,000 homes.

* MW is used to describe the actual power output of a system, rather than a theoretical maximum.

MWh: Megawatt Hour

* MWh is a unit of energy that is equal to one million watt-hours.

* It is used to measure the amount of energy that is consumed or generated over a period of time.

* For example, if a 1 MW generator runs for one hour, it will produce 1 MWh of energy.

* MWh is commonly used in the energy industry to measure the amount of energy that is generated by power plants, as well as the amount of energy that is consumed by households and businesses.

MWp: Megawatt Peak

* MWP refers to the maximum power output of a solar photovoltaic (PV) system under ideal conditions, such as when the sun is shining directly on the panels and the temperature is at an optimal level.

* This means that MWP is not a measure of the actual power output of a solar PV system, but rather a theoretical maximum that the system can achieve.

* MWP is calculated by multiplying the maximum power output of a single solar panel by the number of panels in a system.

* MWP rating of a solar PV system is highly dependent on environmental factors, and may not be achievable in real-world conditions.

Differences between MW, MWh and MWp

• MW measures the rate at which energy is generated or consumed.
• MWh measures the amount of energy that is consumed or generated over a period of time.
• MWp measures the maximum power output of a solar PV system under ideal conditions.
• MW is used to describe the actual power output of a system, rather than a theoretical maximum.
• MWh is commonly used in the energy industry to measure the amount of energy that is generated by power plants, as well as the amount of energy that is consumed by households and businesses.
• MWp is specific to the context of solar PV systems and is used to indicate the theoretical maximum output of a system under ideal conditions.
• MW is calculated by multiplying the voltage and current of an electrical system.
• MWh is calculated by multiplying the power output of a system by the amount of time that it is running.
• MWp is calculated by multiplying the maximum power output of a single solar panel by the number of panels in a system.

In conclusion, while MW, MWp, and MWh may sound similar, they are used in different contexts and refer to different things. MW is used to describe the actual power output of a system, rather than a theoretical maximum. MWh is used to measure the amount of energy that is consumed or generated over a period of time. MWp is used specifically in the context of solar PV systems to indicate the theoretical maximum output of a system under ideal conditions.

Sterling and Wilson Renewables is the world’s largest solar EPC solutions provider with 259 global solar projects undertaken. Sterling and Wilson Renewables have undertaken solar projects ranging from 1 MWp to 1,177 MWp. To know more about Sterling and Wilson Renewables, visit www.sterlingwilsonre.com.

Originally published at http://realestateandepc.wordpress.com on March 13, 2023.

What is O&M of Solar Power Plants?

 

What is the Solar O&M?

Operations and maintenance, or O&M, is carried out to ensure the efficiency and longevity of solar power plants. It involves regular maintenance to keep the various components in good working order and day-to-day management and monitoring of the system to ensure it functions effectively and consistently.

What do Operations and Maintenance entail?

The operations aspect of solar O&M involves monitoring the plant’s performance and managing its output to maximize energy production. It includes keeping track of weather conditions, scheduling maintenance and repairs, and adjusting the system to respond to changes in energy demand. By closely monitoring the plant’s performance, operators can quickly identify and address any issues that may arise, ensuring that the system continues to produce electricity at its optimal capacity.

The maintenance aspect of O&M is equally important, as it involves inspecting, cleaning, and repairing the various components of the solar power system to ensure that they are working well. It includes regular cleaning of the solar panels to remove any dirt or debris that may accumulate and reduce their efficiency and inspecting and replacing any damaged or worn-out components.

Regular maintenance is essential to extend the life of the solar power plant and ensure that it continues to generate electricity at its maximum capacity over time. Failure to conduct proper maintenance can result in reduced energy production, higher operating costs, and even equipment failure, which can be costly to repair.

What are the requirements for effective O&M?

• Regular training of staff
• Deep knowledge of systems and components
• Technical expertise in troubleshooting and repairing issues

Overall, O&M is a critical component of ensuring the success of a solar power plant. By monitoring the system’s performance and conducting regular maintenance, operators can maximise energy production, extend the system’s lifespan, and ensure that it operates efficiently and reliably for many years.

Sterling and Wilson Renewables have over seven years of expertise in O&M for solar power stations and offer O&M services on contract with a tenor of two to ten years. However, Sterling and Wilson Renewables have undertaken O&M contracts that extend to 20 years.

To know more about Sterling and Wilson Renewables O&M services, please visit https://sterlingandwilson.com/businesses/renewable-energy/operations-maintenance/.

Originally published at http://realestateandepc.wordpress.com on March 13, 2023.

Stamp Duty and Registration Charges in Gurugram 2023

 

Gurugram is a modern city near Delhi, known for its excellent infrastructure, job opportunities, cosmopolitan culture, vibrant food and nightlife scene, and proximity to Delhi’s attractions. It has a thriving corporate culture, with many multinational corporations and startups having offices in the city. Gurugram’s diversity attracts people from all over India and the world, making it a melting pot of cultures. Gurugram has several world-class hospitals, schools, and shopping centers, providing a high standard of living. Overall, Gurugram is a great place to live and work.

What are Stamp Duty and Registration charges?

Stamp duty and registration charges are mandatory fees that property buyers in Gurugram must pay when purchasing a property. Stamp duty is a tax levied by the state government on the property’s transaction value. The registration charge is a fee paid to the government for registering the property in the buyer’s name.

What are the 2023 Stamp Duty and Registration charges in Gurugram?

According to 99acres.com, the Stamp Duty and Registration charges in Gurugram are as follows:

Stamp Duty rate in Gurugram (within municipal limits):

• Male: 7%
• Female: 5%
• Joint: 6%

Stamp Duty rate in Gurugram (outside municipal limits):

• Male: 5%
• Female: 3%
• Joint: 4%

Registration charges in Gurugram

Property Value Registration Charges (in Rs.)
Up to Rs.50,000 — Rs.100
Rs.50,001 to Rs.5 lakh — Rs.1,000
Rs.5 lakh to Rs.10 lakh — Rs.5,000
Rs.10 lakh to Rs.20 lakh — Rs.10,000
Rs.20 lakh to Rs.25 lakh — Rs.12,500
Rs.25 lakh — Rs.15,000
Rs.25 lakh to Rs.40 lakh — Rs.20,000
Rs.40 lakh to Rs.50 lakh — Rs.25,000
Rs.50 lakh to Rs.60 lakh — Rs.30,000
Rs.60 lakh to Rs.70 lakh — Rs.35,000
Rs.70 lakh to Rs.80 lakh — Rs.40,000
Rs.80 lakh to Rs.90 lakh — Rs.45,000
Rs.90 lakhs and above — Rs.50,000

Why you should consider investing in Gurugram in 2023

Gurugram’s real estate market offers promising investment opportunities due to its strategic location near Delhi, growing economy, and infrastructural development. The city has seen significant growth in recent years, making it an attractive destination for investors looking for long-term benefits.

Investing in Gurugram’s real estate market can yield high returns due to its increasing demand and rising property prices. The city’s thriving corporate culture and job market also make it an ideal place for investment. Overall, Gurugram’s real estate market is a lucrative option for investors looking for profitable returns and growth potential in the long run.

If you are considering investing in Gurugram in 2023, Joyville Gurugram by Shapoorji Pallonji offers spacious and plush 3 BHK flats starting at Rs.1.82 Cr^. To learn more about this residential property, click here — https://www.joyvillehomes.com/joyville-gurugram/

Originally published at http://realestateandepc.wordpress.com on March 13, 2023.

Stamp Duty

Registration Charges

Gurugram

Stamp

What is the Significance of Sample Flats in Real Estate?

 

What are sample flats?

Sample flats are a valuable marketing tool for real estate developers to present their projects to prospective clients. Sample flats are completely furnished, decorated, and constructed as prototypes to give buyers an idea of the completed project. The objective of sample flats is to leave a lasting impression on customers and assist them in choosing between buying a flat.

Where are sample flats found?

Sample flats are available at the developer’s sales office or on-site. The same materials, fittings, and finishes provided with the actual flat are used in sample flats to replicate the original project. Sample apartments might also include interior design ideas that give purchasers a sense of how they might personalise their living areas.

What is the purpose of sample flats?

For potential buyers, sample flats offer an opportunity to examine the construction’s quality, the varieties of finishes and materials used, and the project’s design. It enables customers to decide on the investment they are about to make in the best possible way. For developers, sample flats allow them to present their projects in a manner that is concrete and relatable to potential customers.

Buyers can experience the functionality of the living areas in addition to viewing the layout. For instance, they can check the water pressure, see how the doors and windows open and shut, and assess the overall quality of the building’s construction.

How do sample flats help real estate developers?

Developers are aware that sample flats can make a significant difference in the buyer’s decision-making process. Therefore, developers frequently invest in resources to build sample flats. Developers hire professional designers with an eye for precision and the know-how to create interior designs that are functional and aesthetically pleasing to create the eye-catching interior design of sample flats. They use premium materials and finishes to highlight the project’s opulent features.

Developers may also showcase the amenities that come with the project in sample flats. For instance, they can showcase swimming pools, gyms, landscaped gardens, and other features that are part of the project. It helps buyers see the lifestyle they can expect from the project and creates a sense of exclusivity that could intrigue potential buyers.

Final thoughts on sample flats

In conclusion, sample flats are an essential tool for real estate developers, as they provide a comprehensive look at the quality of the project’s construction, layout, and features. They allow buyers to experience the property firsthand and help them make informed decisions. Sample flats are a proven method to attract potential buyers and create an impression that lasts.

If you are looking for new investment opportunities in real estate, Joyville Homes by Shapoorji Pallonji provide sophisticated and modern flats at affordable prices in Virar, Pune, Howrah, and Gurugram Visit — https://www.joyvillehomes.com/

Originally published at http://realestateandepc.wordpress.com on March 13, 2023.