Comprising several sub-sectors such as housing, hospitality, retail and commercial, the real estate sector contributes significantly to the Indian economy. According to reports, the overall market size of this industry reached US$ 1.72 billion in 2019, which is expected to grow to around US$ 9.30 billion by 2040.
Even with a massive investment gained in 2019, the real estate industry has a capacity to improve India’s economy if appropriately utilised. However, the issue arises when potential homebuyers fail to see several important aspects associated with this sector and remain confused while selecting properties and understanding land sizes. Here, the need to know how to convert square meters to square feet and such factors can be critical, for instance.
Therefore, individuals should gain sufficient understanding of these common aspects like land measurement units to choose the best offer from a seller.
Common land measurement units
Interestingly, the essential unit measurements depend on the state you are residing in, and the size also varies based on that. For a homebuyer to understand all these aspects of the land document, like calculate the value, convert square meters to square feet, etc., some common land measure units should be grasped. Additionally, it also helps to uncomplicate the process of availing a loan against property, as such documents are required for that.
Some land measurement units based on the regions are mentioned below for your better understanding-
- In popular states of South India such as Andhra Pradesh, Karnataka, etc., 72 square feet of land is denoted as ‘Ankanam’. Also, another common measurement unit used here is ‘Gunta’.
- A square foot of land here is referred to as ‘Ground’, and most of the Tamil Nadu citizens use it while measuring land.
- A popular term in Kerala is ‘Cent’ that is used for land measurement purposes and to convert sq m to sq ft, etc.
- Popular states in the North-Eastern region like Uttar Pradesh, Jharkhand, Tripura, Bihar, etc. use the term ‘Dhur’ while measuring land. Also, the sizes may vary state-wise.
- Individuals in West Bengal, Assam, and Madhya Pradesh prefer using ‘Kattha’ regarding land measurement purposes. Although, another term called ‘Chatak’ is also used popularly in West Bengal.
- States like Bihar, Uttar Pradesh, Madhya Pradesh uses ‘Bigha’ for the same reason.
- You get to hear ‘Biswa’ being used in Himachal Pradesh, Haryana, etc.
- People in Delhi, Punjab uses ‘Gaj’ for measuring purposes.
- ‘Ghumao’ is another popular term in Himachal Pradesh, that is used to measure an acre.
Here, it is essential to note that measurements under some states like Bihar and Jharkhand overlap, making it challenging to identify the most suitable measurement unit.
These land measurement units are used while discussing a property one is planning to purchase or sell, opting for loans against property, etc. as one needs to be aware of the fundamentals.
Conversion of these measurement units gets necessary at that time, and even while opting for financial institutions for availing loans, these conversions are required. Therefore, apart from calculating EMIs before taking a home loan, one needs to be clear about property dimensions as well.
Now, here’s a quick take on conversion of the commonest unit, i.e. from square metre to square feet, for your understanding.
How to convert square meters to square feet?
A square meter is a unit of area measurement that is used to measure 2D spaces like floors, ground, etc. The use of this measurement unit in the real estate sector is evident and knowing the conversion process from sq m to sq ft comes useful for several reasons. A square meter equals 10.76 square feet, so by multiplying 10.76 you can easily convert square meter to square feet.
Such conversion can be essential for first-time residential property owners availing a LAP Loan over there existing property for the purpose of fulfilling statutory requirements like tax payments.
Also, when it comes to availing loans against property, one should go through such documents, and the information regarding land measurement units comes handy. Even though there are several myths about LAP, such as high interest rates, etc., this credit option is still more convenient for individuals looking to raise high-value finance through property collateral.
Plus, several housing finance companies have also introduced attractive pre-approved offers to make financing hassle-free. These offers are available on several financial products, including loans against property, home loans, etc. You can check your pre-approved offer by submitting basic details such as name and contact number.
As for land measurement units, information about converting from sq m to sq ft and other measuring units is required to gain clarity when you are purchasing or selling land or property. Housing properties are valued based on these dimensions, which should be mentioned in the documents as well to make the procedure transparent.
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