LAP loan or loan against property is a convenient way to avail funds for big-ticket expenses. Nonetheless, to claim a lucrative loan value against the owned property, an individual must understand the area conversion principle.
Lenders utilise different units and formula of land measurement to identify the property value. The formula to convert sq m to sq ft, for instance, is used frequently by lending institutions. However, the results of manual calculation can be uncertain and time-consuming.
Many financial institutions offer a free area conversion calculator that offers precise values to ease out this concern. This tool aids in estimating the property dimensions within no time.
How to convert square meters to square feet with the calculator?
Conversion of square ft to square meters or vice versa is easier with the area conversion formula.
The formula to calculate the dimension of a property to mortgage through area conversion is -
ft2= m2*10.764
Knowing this formula would help in understanding one’s property value to streamline the mortgage loan application. This method would also help individuals to decide on property investment and other big-scale purchases.
In this regard, using an online conversion tool would be convenient. It will help a loan against property borrower make an error-free conversion instantly, from sq m to sq ft. This area conversion calculator flawlessly switches between any units of the area from both imperial and metric systems.
Apart from using a calculator to measure their property’s dimensions, an individual can also utilise a LAP EMI calculator for estimating their monthly outgo.
Hence, one must calculate their property dimensions with an area conversion calculator to decide on availing credits.
Additional Read : Understand Land Area Calculation in the Different States of India
Alisha Antil is your best financial helper for insurance. She has a vast experience in finance and insurance and provide to you the expert advise in insuring your property and health.
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