Tenancy in Common (TIC) in Indian Real Estate:

Tenancy in Common (TIC) in Indian Real Estate: Tenancy in Common (TIC) is a legal arrangement in which two or more parties jointly own a piece of real property, such as a building or a parcel of land. This structure allows each party to hold a distinct share of the property, adding flexibility and shared responsibility to property ownership. A significant feature of a TIC is that any party can sell their share of the property independently and also reserve the right to pass on their share to their heirs, making it an attractive option for estate planning. Prevalence of Tenancy in Common in India: TIC arrangements are most prevalent in urban areas of India, especially in bustling cities like Mumbai, Delhi, Bengaluru, and Chennai. In these densely populated regions, where real estate prices can be prohibitive, TIC enables multiple investors to co-own properties, which makes it easier to enter the property market together. This arrangement is commonly utilized in residential complexes and...
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What is the difference in Carpet, Built-up and Super Built-up area in India?

                    The difference in Carpet, Built-up and Super Built-up area in India?

 

Disclaimer : Keep in mind that these percentages are rough estimates, and the actual proportions can vary based on the specific design and layout of a property. It's crucial to review the property's floor plan and documentation to understand the precise distribution of these areas before making any real estate transactions. It is also adviseable to check the Circle Rate vide a Government Recognised department and take into consideration actual sqft mentioned by them in their calculations.


1. Carpet Area: This refers to the actual usable area within the walls of the apartment or property. It does not include the thickness of the walls or common areas. Carpet area is the space where you can place a carpet and use for your personal use.


2. Built-up Area: This includes the carpet area as well as the thickness of the walls and any space occupied by common areas such as lobbies, corridors, etc. It represents the total area that you will be billed for.


3. Super Built-up Area: Also known as the "Saleable Area" or "Built-up Area," it includes not only the carpet area, walls, and common areas but also a proportionate share of common amenities like staircases, lifts, lobby, etc. It's the total area on which the price is calculated.


It's important to understand these terms when buying or renting property in India as they impact the cost and utility of the space you're getting. Make sure to verify the specific definitions used by the developer or seller when considering a property.


The percentage difference between Carpet Area, Built-up Area, and Super Built-up Area can vary depending on the specific property and the developer's design. However, as a general guideline, you can consider the following approximate percentage differences:


1. Carpet Area to Built-up Area: Typically, the Built-up Area can be around 10-15% larger than the Carpet Area. This accounts for the thickness of walls and may include other internal spaces.


2. Carpet Area to Super Built-up Area: The Super Built-up Area is usually significantly larger than the Carpet Area. It can be roughly 30-35% or more larger than the Carpet Area. This accounts for common spaces, amenities, and sometimes even a proportion of external walls.

Refer to Disclaimer at the beginning of the msg.



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