Land measurement in India has been one of the issues concerning individuals, especially during real estate transactions concerning purchase or sale of vacant plots. Nevertheless, it is a critical aspect for consideration.
- The real estate sector in the country attained a 170% annual growth in 2019.
Landowners must, therefore, be aware of such calculations for a hassle-free computation of land value during a transaction. Depending on the different states, various terms and measurements are used across the nation, indicating a well-established, yet uncategorised system.
In today’s age, it is essential to understand how to translate all these different terms into one unified and accepted unit. While this can be done with the pen-and-paper conversion, one can also use an area calculator to quickly and accurately determine the dimensions of a plot for convenience.
Real estate market of India
Real estate is arguably one of the fastest-growing sectors across the world, and India is no exception. Amongst its four primary sub-sectors, commercial, hospitality, retail, and housing, residential property is in high demand across the country.
The demand for a personal house is fuelling growth in this sector remarkably.
- By 2040, the real estate market is estimated to grow to Rs.65,000 crore, contributing significantly to the nation’s economy.
- The real estate sector is estimated to reach a CAGR of 19.5% from 2017 to 2028, thus indicating a steady growth of the entire sector in the years to come.
The market moved to a centralised system long ago to sustain such growths. Land area calculators have thus been in wide use for the conversion of less commonly used units, which usually vary between states. Such conversions also become necessary while applying for credit. Financial institutions may ask for measurements in a widely-accepted unit, i.e. square feet, which is an important thing to know before applying for a loan against property or a home loan.
How to use an area conversion calculator?
Land conversion calculators are simple online tools that allow users to convert a particular unit of measurement into a commonly used one. One can use these tools to convert measurements into acres, hectares, sq. feet, sq. metres, etc.
Area calculators follow some of the most common and widely accepted units as they offer improved convenience and uniformity of measurement for all parties involved. For example, a well-accepted imperial unit, square feet, is used in India, US, UK, Canada, Singapore, Hong Kong, Malaysia, and several other countries.
An individual can simply use this online calculator by entering the number of units (property unit), and the preferred unit of measurement (sq. feet, sq. metres, acres, etc.). The calculator will automatically convert and display the values, ensuring an instant and accurate calculation.
Importance of a land area calculator
Land conversion calculators are widely used by real estate buyers and sellers alike to determine the dimensions of a plot in an easily understandable and widely accepted unit. It is also used by individuals seeking a secured loan, such as a mortgage loan, as the measurements of the property to be mortgaged constitute an important document needed to apply for a loan against property.
Because of rich cultural diversity in India, the country’s measurement system follows a mix of widely accepted and less common units. While units like sq. feet, sq. metre, etc. prevail in urban, metropolitan, and commercial real estate measurement, less common units like bigha, chatak, kattha, etc. prevail in the rural areas, used even during transactions of property. While these century-old techniques offer accurate measurements in their own rights, dimensions of a unit widely vary between states and localities, even when they are named similarly. It is where an area conversion calculator comes in handy.
For example, a commonly used unit, Kattha, carries varying measurements in three different states, Bihar, West Bengal, and Assam. Thus, while 1 Kattha represents 1361.25 sq. feet in Bihar, it represents 720 sq. feet in West Bengal and 2880 sq. feet in Assam. Such non-uniformity can create several issues, especially while purchasing or selling land plots.
Units usually vary in different regions as well. While Bigha-Pucca and Kaccha, Killa, Kanal, etc. are used in the northern parts of India, Ankanam, Kuncham, Ground, etc. find prevailing use in the southern region. Eastern regions follow Kattha, Bigha, Chatak, Dhur, Lecha, etc. while western parts use Biswa, Biswansi, and other units. While they offer a perfect system in itself, they fail to create a uniform system to be followed nation-wide, which is why an area calculator becomes essential.
Such systems can also be used to determine the dimensions of a plot if an individual is planning to avail a loan against property. As these require precise measurement of a mortgaged property, applicants must submit the same in a universally accepted and standardised measurement.
Such credits have seen a hike in demand in recent years as well, keeping up their pace with the real estate market growth. An increase in such demand can be primarily accredited to the diverse uses of a loan against property and its lump sum availability at competitive rates.
Some financial institutions even provide facilities like pre-approved offers on financial products like loans against property and home loans to create a hassle-free application experience, streamlining the entire process. You can check your pre-approved offer online by simply sharing some essential details.
Whether a season real estate marketer or a first-time buyer, an area calculator can prove essential for everyone because of its convenience and accuracy. Gaining a thorough understanding of different measurements used in the country is difficult, and easily avoidable while using a feature-rich tool like a land conversion calculator.