In a apartment project, the land area is allotted proportionately to the size of the apartment purchased by the buyer and registered in the name of the buyer. But here the land is not divided physically for purchaser to identify it. It will be a undivided share of Land. When a home buyer purchases an apartment, he/she is entitled to 2 things: the constructed building and the proportionate share of land, where the whole building is constructed. The price appreciation of the property is the actual appreciation of the land and not the building, so the property price depends on the undivided share.
The UDS is based on the proportionate percentage of the super built up area of the apartment to the total super built-up area of all the flats. For instance, if 5 equally sized apartments of 2000 sq ft were built on 2 ground of land which measures 4800 sq ft, the UDS will be calculated as below:
UDS = Super built-up area of individual flat / Sum of all flats' built-up area X Total land area UDS = 2000 X 4800 / 10000 UDS of individual flat = 960 sq ft.
Guideline Value of a land is the value of the land as determined by the Government, based on its own metrics of facilities and infrastructure growth in that locality. The stamp duty and registration charges for registering a property deal, is based upon this Guideline Value. The Guideline Values are revised periodically to have them in sync with the Market Value.
In FMB's the individual survey number maps are maintained at a scale of 1:1000 or 1:2000. Each survey number is divided into several sub divisions. Each sub division is owned by a owner. The FMB's also depicts the dimensions of each field boundaries and the sub divisions. This FMB book is available at Register offices.
Flat size represents the overall size of the flat that includes carpet area of the flat ,wall area of the flat and common area of the flat like lifts, staircases and corridors. In some apartments flat size may also include club house and in house amenities areas.
Carpet area is the actual usable area of an apartment, office unit, showroom, etc minus wall thickness. Carpet area is the area enclosed within the walls, actual area to lay the carpet. This area does not include the thickness of the inner walls.
The plinth Area includes the total area of an apartment that includes Carpet area as well as wall thickness. This includes both the internal and the external walls.
The common areas are those within a building that are available for common use by all occupants or residents. It is “An area inside a housing development that is owned by all residents .Common areas often exist in apartments, gated communities, condominiums, cooperatives and shopping malls.
Typically in an apartment, all the owners in common collectively own the common areas, meaning that any one individual owner does not possess more control over the land than any other owner. Areas such as Lobbies, Corridors, Stairways, Ramps, Lifts, Electrical rooms are included in the common area. In India most of the most of the real estate developers include club house and amenities area in the common area.
Super built-up area is the built up area plus proportionate area of common areas such as the lobby, lifts shaft, stairs, etc. The plinth area along with a share of all common areas proportionately divided amongst all unit owners makes up the super built-up area.
Flat size = Carpet area + Wall area + Common area + Amenities area
Setbacks are building restrictions imposed on property owners. CMDA has created setbacks norms in their master plan for reasons of public policy such as safety, privacy, and environmental protection. Setbacks prevent landowners from crowding the property of others, allow prescribed space for drive ways and walkways,.
The primary objective of OSR is the creation of lung spaces. It is seen as the contribution of the plot owner to public welfare by way of gift deed to CMDA .As per law, if the size of the plot is 3,000 sq m or more, 10% of the land should be reserved for open space. If the plot size is between 3,000 sq m and 10,000 sq m, developers/plot owners have the option of either demarcating 10% of the land for OSR or (in case of physical constraints in setting apart land) paying the guideline value of the OSR land to the Chennai Metropolitan Development Authority (CMDA). For plot sizes beyond 10,000 sq m, OSR (10% of the plot size) is mandatory. These spaces are developed to create parks and play areas.