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BASICSOFREALESTATES
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ganesh ji
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12/04/14
05:35 PM
FSI Index:The FSI Index is the index by which the total constructible area can be calculated. It is the index by
which the land area is multiplied so as to get the constructible area. This index is fixed by the government body and
varies from area to area, such that the FSI Index near a prominent road will be significantly lower than the interiors.
Also the FSI Index will be significantly higher in the case of a redevelopment project, as the builder has to build a
rehab area also. The government gives an additional FSI, since the builder has to recover costs of constructing rehab
buildings (Redevelopment FSI Index varies from 2.5 to 2.7). An example will help to understand the FSI Index
concept better: Say land area is 100,000 sq.ft, and the FSI Index is 1.7, the constructible area can be calculated with
the equation:
C( Constructible area) = L(Land area) * F(FSI Index)
Thus from our example, we get a constructible area of 170,000 sq.ft.
Ready Reckoner Rate:The Ready Reckoner Area is the rate the Government body (MCGM in Mumbai Region)
fixes for a particular region of the city. Valuation experts calculate the value taking into consideration the various
developmental criterions of the specific region. No buyer can register a property for a lower rate than the ready
reckoner rate for the region. If a builder has to purchase additional fungible FSI, itwill be available at 60 per cent,
80 per cent and 100 per cent of the ready reckoner rates for residential, industrial and commercial premises
respectively.
Fungible FSI:As per new DC Regulation, any area near/inside an apartment, not included in the carpet & which
can be enclosed inside, for eg: flower bed area, dry area, passage etc has to be taken into consideration while
submitting approval plans, and these areas would be included in FSI. A builder can buy maximum of 35% area(in
case of residential development) as fungible FSI by paying the ready reckoner rate of the region. Do note that this is
over and above the total FSI consideration. Thus here the equation for the constructible area becomes as below:
C= L * (F+35%F)
Free of FSI: As per the new DC rules, the only areas that will not be considered inside FSI are Car Parking, Meter
rooms, DG rooms, thus being free of FSI.
Carpet Area: As per new DC rules, any area inside the apartment, and adjoining it can be considered to be the carpet
area of the apartment, this would not include the common area, but will include internal areas such balconies, dry
area, etc & passage area to the apartment.
Saleable Area Concept:In conventional terms saleable area of an apartment includes the built up area (wall
thickness + carpet area) & the common area of the floor in which the apartment is located, the common area can also
include the common lobby & lift area as per the developers discretion .Thus giving rise to the equation:
S.A (Saleable Area) = B.A (Built-up Area) + C.A (Common Area)
The thumb rule used by most developers to obtain Saleable area is Carpet Area + 40 %(Carpet Area), This 40% is
called the upward loading on Carpet Area.
FSI Efficiency:The FSI Efficiency is the index used by the builder so as to calculate efficient use of FSI in the plan.
The more the FSI Efficiency, the more the returns from the project. FSI Efficiency can be equated as below:
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ganesh ji
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12/04/14
05:40 PM
http://indianrealtyblog.wordpress.com/2012/06/20/definition-saleable-area/
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Saleable Area of 2 BHK = Carpet Area + ((Carpet Area/Total Carpet Area) x 100)% x Total Extra Area
~ 600 + ((600/14000) x 100)% x 11000) = 600 + 471 = 1071 Sqft
Adding Lobby Areas & 50% of Common Areas into the Carpet/Built-up
Here the methodology of option 2 will be considered, but while the entire lobby area will be taken, only 50% of
common area will be considered in the proportion.
Thus, Total Extra Area (as per the figures given earlier) = Total Lobby Area + 50% Total Common Area ~ 4000 +
3500 = 7500
Now, this figure will be added proportionately as per the technique shown in the 2nd Method into the individual
carpet areas or built-up (Built up Area ~ carpet + wall thickness + (dry area if applicable)).
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ganesh ji
12/04/14
05:45 PM
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http://indianrealtyblog.wordpress.com/2012/07/05/floor-space-index-fsi-magical-number/
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ganesh ji
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12/04/14
06:26 PM
http://indianrealtyblog.wordpress.com/2012/08/31/indian-real-estate-industry-terms/
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already been sold or leased, it is calculated on the basis of actual obligations of the respective owner or tenant. For
the portion of project that has not been sold or leased, it is based on management estimates subject to various factors,
such as prevailing market conditions, location of the project and efficiency ratios achieved in portions of the project
which have already been leased or sold.
FSI Floor Space Index :-Which means the quotient of the ratio of the combined gross floor area of all floors,
excepting areas specifically exempted, to the total area of the plot
Internal Floor Area:- Internal floor area is fixed for our Completed projects. For Ongoing and Planned projects,
internal floor area is determined on the basis of maximum FSI and assuming maximum TDRs that can be utilised in
the project (TDRs may not have been actually acquired by us at the time of this calculation).
IOA :- Intimation of Approval
IOD:- Intimation of Disapproval, a double negative document approving the building plans
LOI :- Letter of Intent, used to express intent to buy property
MCGM :- Municipal Corporation of Greater Mumbai
MHADA :- Maharashtra Housing Area Development Authority
NA Order :- Non Agricultural Order
OC :- Occupation Certificate
Occupancy Level :- The combined Saleable Area of the occupied units of a project as a percentage of the total
Saleable Area of the project available for lease
Saleable Area:- The part of the developable area related to economic interest in each property and for which the
respective owner or tenant is obliged to pay or for which we estimate that respective owner or tenant will pay
SRA :- Slum Rehabilitation Authority
TDR :- Transferable Development Rights, which means, when in certain circumstances, the development potential
of land may be separated from the land itself and may be made available to the owner of the land in the form of
transferable development rights
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ganesh ji
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12/04/14
06:38 PM
http://indianrealtyblog.wordpress.com/2012/08/17/vaastu-shastra-for-apartments/
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The word Vaastu is derived from the sanskrit word Vaas which means dwelling. The dwelling referred to that of
both Man & God. Vaastu Shastra or in literal meaning The Science of Dwelling basically consists of rules of
planning & construction of Residences based on the cardinal directions of North, East, West & South. Asian
civilizations in general always have had sciences to dictate their dwellings since homes were considered a sacred
abode. Feng Shui in China developed 3000 years ago, almost at a similar time of the development of Vaastu Shastra
in India.
The Cardinal Directions & its influencers are as given below
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ganesh ji
12/04/14
06:52 PM
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http://indianrealtyblog.wordpress.com/2012/07/23/2080-scheme-know-more/
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ganesh ji
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12/04/14
11:08 PM
http://indianrealtyblog.wordpress.com/2012/06/12/save-tax-indexation-method/
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ganesh ji
12/04/14
11:29 PM
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S. N.
Financial Year
Cost Index
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ganesh ji
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12/04/14
11:31 PM
http://indianrealtyblog.wordpress.com/2012/06/12/valuing-a-property-the-income-method/
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13/04/14
12:32 AM
http://indianrealtyblog.wordpress.com/2012/08/31/indian-real-estate-industry-terms/
IndianRealEstateIndustryTerms
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The idea behind this article is to make the readers understand what eachreal estate abbreviation/technical term stands
for. Many of you would have beenperplexed when builders use terms such as OC, IOD etc. Find below descriptionof
all major terms associated with the RealEstate Industry (mostly Mumbai region).
CC :-Commencement Certificate, i.e Permission to start the development
Developable Area :- The total area which we develop in each of our projects,including carpet area,common area,
service and storage area, car parking and other open areas onwhich we may undertake any development
Efficiency Ratio:- It is the ratio of the Internal Floor Area and SaleableArea.For the portion of project that has
already been sold or leased, itis calculated on the basis of actual obligations of the respective owner ortenant. For the
portion of project that has not been sold or leased, it isbased on management estimates subject to various factors,
such as prevailing market conditions, location ofthe project and efficiency ratios achieved in portions of the project
whichhave already been leased or sold.
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FSI Floor Space Index:-Which means the quotient of the ratio of the combined gross floor area of allfloors,
excepting areas specifically exempted, to the total area of the plot
Internal Floor Area:- Internal floor area is fixed for our Completedprojects. For Ongoing and Planned projects,
internal floor area is determinedon the basis of maximum FSI and assuming maximum TDRs that can be utilised
inthe project (TDRs may not have been actually acquired by us at the time of thiscalculation).
IOA :- Intimation of Approval
IOD:- Intimation of Disapproval, a doublenegative document approving the building plans
LOI :- Letter of Intent,used to express intent to buy property
MCGM :- Municipal Corporation of Greater Mumbai
MHADA :- Maharashtra Housing Area Development Authority
NA Order :- Non Agricultural Order
OC :- Occupation Certificate
Occupancy Level :- The combined Saleable Area of the occupied units of aproject as a percentage of the total
Saleable Area of the project available forlease
Saleable Area:- The part of the developable area related to economicinterest in each property and for which the
respective owner or tenant is obligedto pay or for which we estimate that respective owner or tenant will pay
SRA :- Slum Rehabilitation Authority
TDR :- Transferable Development Rights, which means, when in certaincircumstances, the development potential of
land may be separated from the landitself and may be made available to the owner of the land in the form
oftransferable development rights
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