Watch this before buying a FLAT | How to find fair market value of property

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In this video, we are understanding the pricing of a Flat. How can we estimate the real value of a flat and know whether the builder is overcharging?

00:00 Introduction
01:41 RERA Carpet Area
02:14 Built-Up Area
02:40 Super Builtup Area
04:34 Flat Fair Price Calculation
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Shot & Edited by: Rohan Agarwal, Naveen, Harish
Presented by: RJ (Rishabh Jain)
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[LabourLawAdvisor]

Use Code "RISHABH" for 40% Off ( Auto Applied on link above )
Recording will be available to all registered participants

[IamRaeen]

Content = 3 minutes. Ad = 5 minutes. Intro = 2 minutes. This is a big downgrade in quality. Sharing feedback as a long term subscriber.

Edit: I already am a Premium user and I am not talking about the ads YouTube shows. I am talking about the sponsership ads too.

[anonymous.]

I was thinking about the same topic and LLA be like : yeh lo 👌

[riteshmehta]

You have not considered the parking area and park that has been left without construction, but builders have to purchase the land area for that at the same cost. Plus approvals from government authorities for construction and many other things like playing area, gym, community hall that also has to be installed with many equipments. Bank intrest cost for the project development

[kaushalbatra]

Been searching for a flat to purchase for the past 6 months and the variation in prices was making me go crazy. This gives me some peace and a negotiation ground and a cross-quiz round for builders. Looking for flats gonna be fun now.

[vinamrasingh]

This was quite simplistic. Land per square feet rate varies from individual plot to parcel acquired for group housing. It’s not that simple to find out land parcel cost. There are multiple govt charges, various approvals, EDC, IDC, stamp duty GST etc. there is interest during construction, marketing cost, SG&A as well. Cost of construction per square feet is also not appropriate- any basic semi luxury spec cost is atleast 2-2.5k/sqft.

Also you can figure out cost of apartment just like you stated in your video. Best is to compare with existing resale market. New flat would be at 15-20% premium due to newer construction and amenities.

[garimapaliwal]

1. Super built-up rate is half of carpet area rate ? Always?

2. Land cost will be divided by no. of flat owners and not floors. As each owner will have ownership of land as well, right ?

[harshalvankawala]

Project start karne se phele, Land Purchase hone ke baad se Project Approval milne tak ka bhi jo expense hota he wo sab bhi Flat rate me Add ho jata he. i.e. NA Permission, Plot Validation, Fire Approval, Environmental Clearance, Architecture Design, Plan Approval from Authority..(under Table expense) etc.

[gaurangagarwal]

Construction cost you mention is pre covid or non metro cost
Cost is higher than mentioned

[pashabhaisayyad]

LLA channel India ke logo ka trust ban jayenga ekk din dekhna

Q ki aap bilkul sahi baat batate ho sir

Thank you so much sir 🙏😊

[Shubham_Yadav]

Abhay OP. You are building trust and loyalty. Keep growing like that and helping us with informative content. Thank you so much !!

[rafiljain]

Hi LLA Team, I purchased the Real Estate Masterclass and as promised I received the recording but not the separate PPT. In session it was mentioned by Mandeep that the PPT will be shared with recording.

[subhajitandsujaya]

Sir you have counted floor but not houses in floor as normally if flat has 10 floor with 4 houses each the property will be devided with 44 individuals.

[swarupmangaraj]

But Team LLA ..if you go Lil more wide in area in different states.. this formula is good but you won't find any fair value property, cause all builders in that area selling like black market stuff and govt is doing zero on these

[shresthjakhwal]

Pls much after the Masterclass is over like few months later. Can you upload the session in different videos on Youtube. Will be helpful for lot of people who are not able to join now and learn. And is consistent with LLA's brand of providing high value to it's viewers

[rawhit]

One can check fair value but all depends on demand and supply. Just like stock market.

[kumarsahu]

very helpful video for someone like who doesnt know about this real estate terms. thank you lla team for bringing this up.

[ayushmahore]

My e-scooty had an accident before the registration, I had taken out the insurance earlier, now the insurance company is saying no for the claim, what should I do, please help.

[ashishjha]

LLA is my GOTO for all investments questions from past several years..

[Luffy-wndf]

The quality of content LLA provide us. I think they deserve atleast 50M subs.