Loading & Luxury!
20 August, 2020
“LOADING” is terms used to ascertain the ratio of Super Built Area up to Carpet Area, whatever percentage of area that goes into common areas in a residential community is factored in and reduced from the actual apartment size.
RERA (Real Estate Regulatory Authority) mandates that Carpet Area should be clearly mentioned in the brochure and all collaterals handouts be it print or digital.
I had a client call yesterday, where the conversation started with the client hyperventilating about the efficiency of the apartments in one of the luxury projects my company promotes and he was fiercely comparing the sizes with another project quite a few kilometers down the road, which he had visited, which we don’t promote and I explained him the reason why.
The client apparently has not visited the site, nor he had seen the actual apartment in the project we are promoting.
On the preface, I knew that he is not a luxury buyer. But none the less since he raised the question, I was duty bound to answer.
The first thing, I asked him was to visit the project and see the apartment firsthand. I explained to him that now a days most upcoming project come between 35%-40% loading. What makes the difference is the efficiency of the layout of the apartment, not the loading. It is how well the space has been utilized for end consumption. If you walk into a 4000 sq ft apartment which has 30% loading, but it has a 3ft wide load bearing pillar 2ft from one wall end of the master bedroom, what exactly would you do with it? Efficiency is key!
Second, the construction material used in making the apartment complex. What make of RODS and CEMENT, which grade and which company? Is it SAIL (www.sail.co.in) or equivalent? Is the cement from Ultratech (www.ultratechcement.com) or equivalent. This you need not worry about if you are buying from a Grade A developer. What does this have to do with loading? A lot! Eventually you will divide the cost of the apartment with the carpet area. A luxury property will end costing you more per carpet area square foot than an affordable one. Hence the cost divide is much greater and noticeable.
Please keep in mind that a Grade A developers will never short-change the construction ingredients, come what may. They have brand heritage which is built on years of compliance levels and standards which needs to be pampered, reciprocated and re-affirmed with every product they introduce in the market.
This is the precise reason why you can walk into a Mercedes showroom and not worry about the quality of the nuts and bolts holding the tyres to the body. You just know that it can never be substandard and have been tested diligently as per the standards.
Third, which PMC (Project Management Company?
Most builders do not have in house construction leading to the possibility of substandard construction procedures and pilferages. It is a great assurance to find names like TATA PROJECTS boldly written outside the project. PMC’s like TATA Projects (www.tataprojects.com) are brand within themselves and have as much at stake as the builder in terms of construction standards and brand heritage. Hence, they employ strict standards and procedures befitting their profile.
PMC’s like TATA PROJECTS do not work without financial guarantee’s and commitments till the end of the project life cycle, this is another assurer of timely delivery of the project to the end user.
Fourth: Location.
A strategic location comes at a higher price, couple that with Grade A raw material, Brand Heritage and construction standards, PMC etc and you will have nothing short of a luxury property, which will give your trouble free years and a sense of achievement.
Abhishiekh Andlay