Construction Stages, OSR, FSI: Don't Let These Terms Confuse You

Talking to your real estate agent but cannot keep up with the terminologies he is using? Here's the most commonly used terms in real estate transactions and deals, so that the next time you enquire about any project, you do not fall for hoax schemes and flashy promises.

Read more about carpet area, built-up area, super built-up area here. 

Construction stages

If you are buying an under-construction flat or your payment plan is linked to the construction stages, then it is important for you to be aware of the different terms related to building status of the project-

• Mobilisation: It is the first stage of construction when fencing of a plot is done and construction equipment is transported to the site.

• Groundwork: Post mobilisation, the ground is levelled, cleaned and made ready for the construction work.

• Structure work: The substructure phase involves building a foundation, neck columns, ground beams while superstructure phase is constructing structures above the ground floor like slabs, staircase etc.

• Masonry: This is finally when the construction starts taking shape. Plastering, levelling of walls and ceilings are some of the tasks covered in this phase.

• Services work: This phase is getting the structure equipped with electrical, sanitary and plumbing fittings. Light box, fans, toilet equipment and all those things provided by the builder are installed.

• Finishing work: This is the final stage before completion when the structure is given finishing touch with carpentry works like doors, windows, wooden flooring, false ceilings etc.

• Completion stage: The final stage is the last inspection and handing over the property to the buyer.

Floor Space Index (FSI)

Floor space Index or Floor Area Ratio is defined as the ratio of total built-up area to the total size of the land. The FSI is set by the local civic bodies or the area to regulate and manage the construction work and the size of the structures in the area. FSI is also called as a scale to measure the height and area of any building that also ensures flexibility in structure designing. For better understanding, consider this example where a particular land size is 20,000 sq metres and FSI of 2 is allocated, then the construction of 20,000 sq metres will be allowed for the project.

Open Space Ratio (OSR)

This term is widely used when you are talking about residential projects or spaces.  OSR is estimated by dividing the total open space (the common space proposed for development) by the area of the total land parcel. Area less than 320 sq ft are not considered as open space. However, parking space and recreational areas are factored while calculating total open space area. For example, if there are 10 acres of common open space and 20 acres of the land parcel proposed for development, then the OSR is 50 per cent.

Loading Factor

Loading factor is the component which when combined with carpet area, gives the super built-up area of the flat. Technically, it is the share of common area such as space around staircase, elevators etc. As the common area of the flat is estimated by applying a multiplier to the carpet area, loading area is usually 1.25 times of carpet area.