How is flat resale value calculated?

How is flat resale value calculated?

Value of a resale flat= Value of undivided share of land (UDS)+ Depreciated value of building and amenities + Value of overheads, expenses and promoter's profit. Value of undivided share of land: Cost per square feet multiplied by UDS. ... As of today, the values you get are in the region of 1200-1500 per square foot.

How is flat area calculated?

Flats are generally priced on the basis of the area. ... The difference between the useable and saleable areas is a result of the space included in the calculation. Some of the commonly used area calculations are: CARPET AREA This is the net usable area measured wall to wall, from the inner faces of walls.

How do I calculate price per square foot for a flat?

Firstly, What is Cost-per-square foot? Let us take an example, if the cost of a 1200 square foot the flat is 75 lacs, the cost per square feet calculation is Rs. 6250 ( Total Cost/ Area of the Property).

How do I find the value of an old flat?

The resale flat value is the sum of the value of an undivided share of land (UDS), depreciated value of building and amenities, the Value of overheads, expenses and promoter's profit. The Value of an undivided share of land (UDS) is obtained by multiplying the cost per square foot with the UDS.

Is it good to buy resale flat?

Nothing can be more profitable than purchasing a flat at a price much lesser than the market rate. Moreover, the resale flats are fully constructed and come with a ready-to-move-in tag. ... Hence, if all the other factors work in your favour, it might be a good idea to invest in a resale flat.

What happens if valuation is lower than offer?

If the mortgage valuation is lower than your offer price then it can affect your finance. This is because the amount you can borrow is usually based on a percentage of the property value. If the property is deemed to be worth less by your lender's surveyor, the lender may reduce the amount they will lend to you.

What is base price of flat?

The BSP is the base cost per sq ft of the property, for which it is listed for sale by the seller. Usually, it does not include additional charges for amenities, floor rise, preferential location, parking and other maintenance dues.

What is Saleable area of flat?

Super built-up area or saleable area is the total built-up area of your flat (explained above) plus your proportionate share of the common amenities in your building complex.It is also called the saleable area.

Why are flats sold at a higher price than the purchase price?

When a buyer invests in an apartment property, he is also buying an FSI of the land where the project is built. The reason why resale flats are sold at higher prices than the buying cost is because the flat is demanding the appreciation of the land.

How is the area of a flat calculated?

This is the net usable area measured wall to wall, from the inner faces of walls. Simply put, it is the area in a flat which can be covered by carpeting. Some builders may add half the actual area of a terrace or dry areas while calculating the total carpet area. Others may treat these spaces like internal rooms and consider the entire area..

How is the cost of an apartment calculated?

Please note that all the charges are calculated on the basis of SUPER AREA and NOT BUILT UP AREA.

What's the average value of a flat in India?

However, when you actually put your flat up for sale, you might find that buyers are not willing to pay you more than Rs 90 lakhs for your flat. This could be because of many reasons. Location: Even within a housing society, location plays a major role in deciding a property’s worth.