Unraveling the Dynamics of Carpet Area Measurement: Implications for Real Estate Development and Urban Planning


Year : 2024 | Volume : 02 | Issue : 02 | Page : 21-30
    By

    Gourav Kumar Sharma,

  1. GST Practitioner, Infinity Services (Founder), An Accounts Outsourcing Firm, Indore, Madhya Pradesh, India

Abstract

Real estate development and urban planning depend on carpet area measurement for property valuations, regulation compliance, and buyer’s decision-making. In the past, the absence of a standard definition of carpet area often resulted in varying calculations of area and gave the buyers a short end of the stick as a product of mistrust. In India, the introduction of the Real Estate (Regulation and Development) Act (RERA) brought in a standardized definition of carpet area, thereby creating transparency and accountability in property transactions. The notion of carpet area defined as net usable floor area within the walls of an apartment has been expanded to exclude external walls, balconies, and common areas so that a buyer is shown exactly what the actual living space shall be. For real estate development, this shift has a serious bearing on the re-designing of project designs and pricing strategies in conformity to the norms set out by RERA, and as such can impact profit margins and competitive dialectics in the industry. Standardized carpet area measurements are beneficial from an urban planning viewpoint, as they enhance accurate population density assessments, permit better land use planning, and reduce system development costs from less inaccurate infrastructure development. However, implementation challenges remain, and implementation must be faithful to the reform if it is to reap its benefits: Consistent enforcement across states and clear measurement standards are needed. RERA standardizes carpet area measurement to promote a more transparent and just realty market as well as foster an ecosystem for sustainable urban development

Keywords: Real estate development, urban planning, environmental sustainability, ecological preservation

[This article belongs to International Journal of Rural and Regional Development (ijrrd)]

How to cite this article:
Gourav Kumar Sharma. Unraveling the Dynamics of Carpet Area Measurement: Implications for Real Estate Development and Urban Planning. International Journal of Rural and Regional Development. 2024; 02(02):21-30.
How to cite this URL:
Gourav Kumar Sharma. Unraveling the Dynamics of Carpet Area Measurement: Implications for Real Estate Development and Urban Planning. International Journal of Rural and Regional Development. 2024; 02(02):21-30. Available from: https://journals.stmjournals.com/ijrrd/article=2024/view=193051


References

  1. Rietveld P. Flying carpets and urban development trajectories. Appl Spat Anal Policy. 2015;8:217–30. DOI: 10.1007/s12061-015-9142-6.
  2. Pethe A, Nallathiga R, Gandhi S, Tandel V. Re-thinking urban planning in India: Learning from the wedge between the de jure and de facto development in Mumbai. Cities. 2014;39:120–32. DOI: 10.1016/j.cities.2014.02.006.
  3. Kumar G, Vyas S, Sharma SN, Dehalwar K. Planning and development of housing in urban fringe area: Case of Bhopal (MP). GIS-Business. 2023;18:1–14.
  4. Shah YS, Bhagat SS. Housing policy in India: Challenges and reforms. Int J Res Eng Sci Manag. 2019;2:180–3.
  5. Sen S. Effect of urban sprawl on human habitation in urban fringe and periurban areas in Kolkata metropolitan area. India J. 2011;8:58–66.
  6. Rab A. Real estate (regulation and development) act 2016: Misplaced euphoria? Amity Int J Jurid Sci. 2017;3:68–76.
  7. Kumar P, Kumar P, Garg RK, Garg R. Urban housing: A study on housing environment, residents’ satisfaction and happiness. Open House Int. 2021;46:528–47. DOI: 10.1108/OHI-12-2020-0179.
  8. Patel D, Gujar S, Patel V. Review and analysis of RERA Act. Int J Eng Res Technol. 2020;9:219–23.
  9. Gopalan K. Affordable urban housing: A situation report on policy and practice in India. SSRN Electron J. 2014. DOI: 10.2139/ssrn.2535669.
  10. Ikeotuonye MC, Efobi DJ. Responding to housing (real estate) needs: The role of real estate developers and practitioners in responds to investment in housing. Iconic Res Eng J. 2022;5:264–71.
  11. Waddell P. UrbanSim: Modeling urban development for land use, transportation, and environmental planning. J Am Plan Assoc. 2002;68:297–314. DOI: 10.1080/01944360208976274.
  12. Nallathiga R. Affordable housing in urban areas: The need, measures and interventions. In: 7th Annual Thinkers and Writers Forum of the Skoch Summit. India Habitat Centre, New Delhi; 2010. p. 10–2.
  13. SenGupta U. Affordable housing development in India: A real deal for low-income people? Int Dev Plan Rev. 2013;35:261–82. DOI: 10.3828/idpr.2013.17.
Regular Issue Subscription Review Article
Volume 02
Issue 02
Received 09/11/2024
Accepted 13/11/2024
Published 20/11/2024
Visits: 47


Loading citations…