The Noida authority has issued an order mandating that apartment registration now be on the “carpet” area – bringing relief to the countless homebuyers who have long been demanding that apartment registration not be determined by “super area” – a factor that allows developers to escalate the cost of apartments.
Industry experts welcomed the request, and said the move would reduce the cost of registration fees for apartments and lower the overall cost of real estate purchase for homebuyers.
Santhush Kumar, Vice Chairman of ANAROCK Group, said, “This order issued by Noida will bring a lot of convenience to home buyers as it will reduce the cost of registration fees for apartments and thus reduce the overall cost of purchasing real estate. The RERA had earlier mandated the developers to sell the apartments. On the basis of carpet area rather than very built area.However, even at the time when the developers mentioned carpet area, there was ambiguity when it came to registering apartments. It was mostly shipped in super area. With this demand now, absolute clarity was provided and Homebuyers set out to take advantage of it.”
(to be updated)