Land area conversion calculators are easy-to-use tools that borrowers can use to calculate the area of a property or land from one unit to another. Land area conversion calculators are easily available on the internet, most lenders host them on their website.
These calculators have various conversion formulas fed into them. So, one can use these calculators to convert any unit of land to another. The question is why must loan borrowers make land area conversion formulas a part of their loan journey?
If you are planning to apply for a home loan or a loan against property, you will need to mention the exact measurement of your property or land in units that your lender understands or units that are a part of the International System of Units. In India, land and properties have always been measured in locally used and recognized units. For example, while the Southern states of India still measure land in Ground, Guntha and Cent, the use of Bigha and Marla is common in the Northern states. So, if you are planning to apply for a loan, it is crucial that you know the measurement of your land in a unit that both you and your lender understand. This is where a land area conversion calculator comes into play.
Here are the steps one must follow if they wish to convert their land area into another unit.
1. Select the unit in which you know the area of your land.
2. Enter the number of units. For instance, if your land parcel is 5 bighas, under the number of units, enter 5.
3. Next, select the unit to which you wish to convert your land area.
Once you input this information, the calculator will give you your land area in a unit of your choice.
Now that we know why we use land area conversion calculators and how to use this handy tool, let us look at the benefits of a land area conversion calculator.
1. In India, hundreds of different land measurement units are used and it is impossible for a person to remember the formulas to convert these different units into one another. A land area conversion calculator simplifies the process and also the need to remember different conversion formulas. Thus, a land area conversion calculator simplifies the whole process of converting land area from one unit to another.
2. The land area conversion calculator can be trusted for accuracy every single time. This is not the case with manual calculations. When you manually convert the area of land from one unit to another, the chances of errors creeping in are high and when it comes to big loans, such as a home loan or a loan against property, one cannot afford to make any mistakes.
3. Lastly, a land area conversion calculator helps save time, which the loan applicant can use for other purposes, such as researching the right lender and then negotiating with them for a low-interest rate.
In short, a land area conversion calculator is a highly beneficial tool that all loan applicants must use.
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