Indian land measurements vary from one state to another. Land measurement units like Kattha, Chatak, etc., are used by Eastern states like West Bengal, Tripura, and Assam. While units like Biswansi, Bigha are standard in Rajasthan and Gujarat.
Even though the local measurement systems are still in use, more standard measurement systems like sq metre to sq feet, acres, yards, etc., are necessary as well.
Potential property owners must be aware of the ways to convert square metres to square feet with or without calculators. This will help them to estimate the land value before opting for a credit from a lender.
Land measurement can be a complicated task, owing to the number of metrics used across the country. Nonetheless, with the upgradation of the land measurement system, the liking for sq. m to sq. ft conversion has increased.
These units are part of a metric system that helps in calculating the land or property dimensions. Hence, individuals should know how to convert square meters to square feet to make an informed decision regarding property purchase or before mortgaging them.
How to convert square metres to square feet
The process to convert sq m to sq ft is simple and straightforward. One needs to follow the conversion table to understand the units. Here one centimetre (cm) is valued as 10 mm or 0.01m.
For instance, 1 square metre is equal to 10.763 square feet. To convert from square feet to square metres, multiply your figure by 0.092.
However, these calculations can be quite complicated for borrowers to conduct manually. A smarter way of land measurement is using an online calculator converting sq m to sq ft .
How to use an online calculator for conversion
Using a calculator to convert square metres to square feet is more convenient and accurate. One would need to follow certain steps –
1: Enter the needed unit in the value to convert section
2: Select the area unit i.e. square ft. and square m form the drop-down menu
3: Press enter to get the required value in desired units.
For instance, the total square feet value of a property is 650, that property’s square metre value will be 60.386976.
Using this online conversion calculator also helps loan against property applicants determine their property’s dimensions.
Potential borrowers can also use LAP EMI calculator to evaluate their monthly outgo and make necessary savings.
Getting back to land measurements, an individual must understand related standardised measurements that are also used by different lenders.
Different measurement units used for land measurement
This is a measurement unit followed by most Indian cities to measure plot size. However, Bigha has no standardised size. Its range can vary according to a state and plot area. For instance, in West Bengal a Bigha is considered around 14,400 square feet.
One can use an online calculator to convert square metres to square feet and find the exact value of a Bigha in m2 as well.
Hectare is a common unit of the metric system that is used to determine plot size all across the globe. This term was coined in 1795 with the conjunction of Latin words hect and area. Ideally, one hectare is equal to nearly 1,07,639 sq. ft.
Acre is another popular unit of measurement used by lending institutions for LAP loan. One acre values around 0.405 hectares. In India, an acre is commonly used to define extended land and property areas.
Factors a land buyer must know regarding circle rate
- Fixed obligation – The circle rate is considered as the minimum value considered by Indian government. No transfer or property sale can take place below this established level. The seller and buyer of a property has to follow this rule and market price before making a transaction.
- Market rate – An individual planning to avail a loan on property must consider the existing market value of the property owned. This would help in availing substantial funds from the mortgaged land. The difference between a circle rate and market rate is what a borrower must consider before they begin to know about a loan against property.
Being aware of the units of measurement is essential before applying for a mortgage loan. It helps in estimating the loan amount in advance. However, one must also understand the charges on one’s loan against property and eligibility before making an application.
In this regard, finding a lender offering an affordable interest rate on the said credit would be helpful. These HFCs also extend pre-approved offers that streamline the loan application process. It is available on products like home loan, mortgage loan, etc. Check your pre-approved offer by entering a name and contact number.
However, restricting oneself to interest rate comparison only won’t be sufficient in terms of borrowing. Hence, one must check factors to consider while taking a loan against property beforehand to make an informed decision.
Additionally, potential LAP borrowers can also use conversion calculators to convert square meters to square feet measurement of the owned land.