Ground and square foot are two of the many land measuring units used in India. Ground is used as a measuring unit in various part of Tamil Nadu. It was widely utilised before the current standardized metric system was introduced and is still used in rural regions to mortgage or sell land.
On the other hand, square foot is the most used unit of land measurement in India. It is popularly used to denote carpet area and the built-up area of a flat or property. The Real Estate Regulation and Development Act of 2016 mandates the use of square foot as a standard unit of measurement for flats and apartments.
While measuring or evaluating a property, one may need to convert a unit to another. These conversions can be made using a land calculator.
What is a land area calculator?
A land area calculator, also known as an area conversion calculator, can convert a unit to the required equivalent. You can find these calculators online on the websites of reputed financial companies.
Suppose you need to convert square meters to square feet concerning a particular plot/property before discussing a deal with a buyer, seller, or investor. Instead of doing it manually, you can do it on a land conversion calculator. Unit conversion is also required when you are availing a loan against a mortgaged property. This is because the area dimensions of property play a role in determining the loan principal.
Individuals can borrow a loan against property for business, education, medical emergencies, or any other financial purpose. Nonetheless, it is important to be well-acquainted with the property dimensions, value, and other such concerns while applying for a LAP loan. You can always use an area conversion calculator to check dimension equivalents.
How to convert ground to square feet on a land calculator?
The value of 1 Ground is equal to 2,400 Square Feet. Thus, if you need to convert a Ground value to square feet, multiply the former with the equivalent square feet value (2,400). To convert it using a land calculator, you need to:
- Visit a portal that has an area conversion calculator
- Enter the number of ground units in the first field
- Select ‘Grounds’ from the provided list of units in the next field
- Scroll to see the resulting square feet equivalent
For example, if you enter 25 ground units in the first box, the tool will give you 60,000 square feet as its equivalent measure. Similarly, you can also convert sq m to sq ft.
Knowing these conversion methods also helps you compute the property value. Before understanding the charges on loan against property, you must make sure your property is evaluated correctly. Once these estimates are ascertained, you can discuss the interest rates charged on a LAP loan.
Computing your interest outgo and EMIs manually on a hefty loan amount can be cumbersome. Visit a lender’s portal and find a loan EMI calculator to easily compute your monthly EMI. You can also use a loan against property or a LAP EMI calculator for the same, depending on the financial instrument in question.
Some of the leading financial institutions in India also provide pre-approved offers on loan disbursals. These benefits can be availed on secured or mortgage loans, such as home loans and LAP. You only need to provide a few basic personal details to check your pre-approved offer instantly.
Since multiple land measuring units are used in India, it is necessary to switch to a common unit before making real estate transactions or loan-related discussions. This is why portals of both real estate companies and lending institutions feature a land calculator. Users get free and unlimited access to these calculators. The idea behind this is to generate transparency in the respective sectors. Moreover, when two parties discuss rates in the same unit, it also facilitates ease of transaction.