An area conversion calculator, also known as a land area calculator, is an excellent tool for quickly converting area measurements. Furthermore, this calculator enables potential borrowers to figure out the correct values and convert them. Therefore, before anyone opts for a LAP, many financial institutions recommend using their website’s area calculator for accurate property valuations.
What are Area Conversion Calculators?
An area conversion calculator is an online tool that helps an individual to convert one measurement unit to another in a matter of seconds. This land area calculator helps potential borrowers convert their local measurement units into the desired ones. Numerous financial institutions also use this tool for the accurate valuation of the property.
Benefits of area conversion calculators
The following are the benefits of the land area conversion calculator:
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Shows prompt results
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On entering the values in the specified sections in an area conversion calculator, it displays results immediately. This saves time and hassle for borrowers.
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Displays error-free results
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Converting the measurement units manually can be challenging, and it can lead to many errors. However, while opting for the online area conversion calculator, the user can expect prompt and completely accurate results.
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Free of cost
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Mostly this online calculator is free to use for potential borrowers. Therefore, one just needs to go to the official website of their respective lenders to use this tool without hassle.
However, before using this area conversion calculator, borrowers should know the details about a loan against property to get the best out of it.
Steps to use the area conversion calculator
The area conversion calculator is simple and easy to use. The steps to calculate are as follows:
Step 1:
Navigate to the official website of the lender
Step 2:
Search for loan against property and select ‘land area converter’.
Step 3:
Enter the numerical value of land area which should be converted
Step 4:
Finally, insert the selected area unit in ‘Output area unit’, and the calculator will display the correct result instantly.
After going through the steps to use an area converter calculator to figure out the correct land measurement, borrowers should look at the units available on the area conversion calculator. This will help them get accurate measurements of their land as well as the required amount for a loan against property.
Units available in the area conversion calculator
Some of the notable units for land measurement are as follows:
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Square meter
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A square meter is the SI unit of area, abbreviated as sqm. It is the area of a square whose sides are equivalent to 1 foot. This unit measures an area which can be converted into every kind of area unit. One square meter is equal to 10.76 square feet, or 0.000247 acres.
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Square feet
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Square feet is symbolised as sq. ft. or ft² measuring an area of a square, each side measuring 1 foot. Alongside India, this measurement unit is extensively used in the US and other countries. The measurement of one square foot is equal to 0.0929 square meters.
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Hectare
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Denoted as ‘ha’, a hectare mainly measures large geographical locations, lands such as forests, agricultural lands, etc. It is represented as the unit of the square area that measures 100 meters on each side. The value of one hectare is equal to 10,000 sqm.
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Acre
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Acre is denoted as ac, and this measurement unit of land is well-known in the United States and the United Kingdom. One acre equals 4047 square meters, 0.4047 hectares, or 4,480 square yards.
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Bigha
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Bigha is one of the oldest measurement units used in numerous Indian states. However, in every place, the land sizes measured in Bigha vary from each other. The value of one Bigha is equal to 27,000 square feet.
Now, after knowing the above-mentioned units to calculate land area, borrowers can easily use the area conversion calculator to figure out the loan amount they can avail of on the value of the property. Besides, by doing so, they determine the additional charges levied on their loan against property.
Persons in need of a loan against property should use this online tool to get an accurate measurement value. If planning to apply for a loan against property or a lap loan, the area conversion calculator can be of immense help in ascertaining the actual area and value of a property. This will help borrowers get the most value out of their loans.
If necessary, borrowers can check the loan offers from reputed financial institutions that provide pre-approved offers to accelerate the lending process. These offers are provided to pre-existing customers on several financial products such as home loans, loans against property etc. All the applicants have to do is input their details, like names and phone numbers to check their pre-approved offers
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