In most parts of India, land is still measured in units that have been used for centuries now. For instance, if you ask a landowner who owns property in the Northern parts of India, chances are that the landowner will quote to you the specifics of their property in units such as Bigha, Biswa and Kanal.
Similarly, land owners in Southern India know land measurement in units, such as Ground and Guntha. The thing is these units are not a part of the International System of Units.
However, if one decides to borrow funds against property they own, it is mandatory that they mention the specifics in units that are a part of the International System of Units. An area converter proves helpful here.
What is an Area Converter?
An area converter is an online tool that lets users convert the area of their property from a unit in which they know the area of their land to a unit that forms a part of the International System of Units or a unit that banks and financial institutions use and recognise.
Here are the steps involved in the use of an area conversion calculator.
- Using an area converter is quite easy. To start with, from the first drop-down menu, select the unit in which you know the area of your land. For instance, if you know the area of your land in Bigha, select Bigha from the first drop-down menu.
- After this is done, enter the number of units. For instance, if you own a 3-Bigha land parcel, under the first drop-down, select Bigha and in the box for the number of units, enter 3.
- Next, from under the second drop-down menu, select the unit to which you wish to convert your land area. For instance, if you wish to convert land area to acre, from the second drop-down, select acres.
- Finally, click on the ‘Calculate/Convert’ button. Once you do this, the area converter will do the needful for you.
Benefits of Area Conversion Calculators
Area converters offer many benefits. Below we discuss some of these benefits.
- Area conversion calculators do away with the need to remember different conversion formulas. Since so many different units are used in different parts of the country, remembering all the different conversion formulas is a near-impossible task. The area convertor also does away with the need to do so.
- Area converters also help loan applicants remove any chances of any type of errors creeping into an individual’s calculations. Manual calculations are always prone to errors and when it comes to loans that involve a substantial loan amount, such as a home loan or a loan against property, a small error can lead to major issues. Area converters completely eliminate the possibility of any kind of error entering into the calculations.
- Area converters also help borrowers save time and effort. When you are applying for a loan against property, there is a lot to be done. You must reach out to different lenders and negotiate with them. You must also do your research to find the right lender for you and then compare different offers to choose the best one for you. All of this takes time. An area converter helps borrowers save time and energy, which they can use for other important tasks.
- Area conversion calculators are quick and accurate. They are also free to use and they help loan applicants ask for a loan amount that they are eligible for and deserve.
Area Converters: FAQs
1. Does one have to pay a fee to use the area conversion calculator?
No, area conversion calculators are free to use. One need not pay any type of fee to use them.
2. Which area conversion calculator should you use?
Loan applicants can use any area conversion calculator they find on the internet to convert land area from one unit to another. If you are looking for a specific one, choose to go with the one you find on your lender’s website.
