Question 1

What is carpet area?

Accepted Answer

Carpet area is the actual usable floor area within the walls of an apartment. It includes the area of bedrooms, living room, kitchen, bathrooms, and balconies but excludes the area covered by external and internal walls, common areas like lift, lobby, staircase, and play area.

Question 2

How to calculate stamp duty in Maharashtra?

Accepted Answer

Stamp duty in Maharashtra is typically 5% of the property value for men and 4% for women in areas within Municipal Corporation limits in Pune. Registration charges are 1% of the property value (capped at ₹30,000). Total registration cost = Stamp Duty + Registration Charges.

Question 3

What documents to check before buying a flat?

Accepted Answer

Key documents include: RERA registration certificate, Title Deed / Conveyance Deed, Approved Building Plan, Completion Certificate (for ready properties), Occupation Certificate, Commencement Certificate, No Objection Certificates (NOCs) from relevant authorities, Encumbrance Certificate, and Society Registration Certificate.

Question 4

What is RERA and why is it important?

Accepted Answer

RERA (Real Estate Regulatory Authority) is a regulatory body established under the RERA Act 2016 to protect home buyers and promote transparency. All commercial and residential projects with more than 500 sqm area or 8 apartments must be registered with RERA. It ensures builders deliver on promises, maintain project timelines, and keep funds in escrow.

Question 5

What is the difference between carpet area and built-up area?

Accepted Answer

Carpet area is the usable area within the walls. Built-up area = Carpet area + Wall area (internal and external walls, columns). Super built-up area = Built-up area + Proportionate common areas (lobby, lift, staircase). Typically, carpet area is 60-70% of super built-up area.

Question 6

How to check property affordability?

Accepted Answer

Use the Zulu Affordability Calculator. Enter your monthly income, existing EMIs, and desired loan tenure. The tool calculates your maximum budget including home loan eligibility and recommends properties within your budget. A general rule: your EMI should not exceed 40-50% of your monthly income.

Real Estate Knowledge Base

Real Estate Knowledge Base

Real Estate Knowledge Base

Real Estate Knowledge Base