Recently, I received a concerned email from a recent client about her new property which she bought off-the-plan. Apparently, her property size had shrunk from what she originally paid for by five square metres (5m2), and was wondering why she was neither made aware of it during construction nor unsure if the property developer was pulling a fast one. She had contacted the developer, who stated that the discrepancy of the size was due to how the area was measured at sale and at settlement.
Depending on the contract signed, the floor space might reference difference floor areas such as Gross Floor Area (GFA), Nett Lettable Area (NLA), Fully Enclosed Covered Areas (FECA) and Unenclosed Covered Areas (UCA); it might reference one or a number of them, or might even mention that the areas are “indicative”.
Depending on the contract signed, the floor space might reference difference floor areas such as Gross Floor Area (GFA), Nett Lettable Area (NLA), Fully Enclosed Covered Areas (FECA) and Unenclosed Covered Areas (UCA); it might reference one or a number of them, or might even mention that the areas are “indicative”.
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