Unlocking Real Estate Potential: How to Use an Area Conversion Calculator

Until a few years ago, many myths surrounded loans against property and these myths kept borrowers away from these loans. However, over the last few years, borrowers have realized that if availed of after proper consideration and planning, loans against property are as safe as any other loan. However, if you are planning to avail yourself of a loan against property, also often referred to as a property loan, know that you must figure out the exact area of the property that you wish to pledge as collateral. Doing so would allow you to avail yourself of the loan that your property makes you eligible for. An area conversion calculator is an online tool that borrowers can use to convert the area of their land from one unit to another.

In India, different states use different units for land measurement. For instance, in most Northern states, units such as Bigha, Marla and Kantha, are used to measure land. In Southern India, the use of units, such as Ground, Guntha and Cent, is quite common. States in Eastern India use Chatak, Dhur and Katha and states in Western India use land measurement units, such as Bigha and Biswansi. Lenders around the country do not understand any of these units and use units, such as square feet or square meters, to measure land. Thus, when one applies for a loan, they must know the area of the property they wish to pledge as collateral in a unit that their lender understands. An area conversion calculator can prove helpful in this regard. An area conversion calculator has conversion formulas for various units fed into it. Thus, borrowers can use the area conversion calculator to calculate the area of their loan from a unit they understand to a unit that their borrower understands. If you wish to use an area conversion calculator, simply follow these steps:

1. Go to your lender's website and search for the area conversion calculator. If you do not find this calculator on your lender's website, search for it on the internet and you will easily find at least a few different options to choose from.

2. Select the unit in which you know the area of the land.

3. Next, select the unit to which you wish to convert the area of the loan you plan to pledge as collateral.

4. Click on 'calculate'. Once you do that, the area conversion calculator will give you the area of the land in the unit that you have chosen.

The area conversion calculator is a handy online tool that helps borrowers save time and energy. It can be trusted for accuracy. So, borrowers must use this tool to their best advantage.

If you are planning to avail of a property loan, pledge high-quality collateral. A high-quality collateral has high resale value. Properties located in the centre of the city and having all modern amenities are seen as high-value and high-quality collaterals. Such collaterals help borrowers avail of property loans at the lowest interest rate possible. Further, borrowers must also use the loan against the property EMI calculator to work out the loan amount and EMIs they can comfortably afford. Using this tool can really help one make the right decisions regarding loans against property.

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