224+ property terms explained — national RERA terminology, regional land records (Fard, Jamabandi, 7/12, Patta), property documents, financial terms, and state-specific real estate vocabulary.
Legal process in Maharashtra where a housing society can get its property conveyed by developer even if developer is uncooperative — under Maharashtra Ownership Flats Act (MOFA).
When a developer fails to hand over possession of a property by the agreed date. Under RERA, buyers are entitled to interest at SBI MCLR + 2% per month for the delay period, or can seek full refund.
Official communication from developer to buyer requesting payment of an installment as per payment plan. Buyers must receive adequate notice before payment demands.
Physical marking of plot boundaries on the ground, typically by a licensed surveyor. Essential before any construction to ensure building is within legal boundaries.
A town in Punjab near the Haryana border, part of the Chandigarh Tricity periphery. Significant real estate market, especially industrial and affordable residential.
Government body responsible for planning and approving development in a specified area — e.g. GMADA (Greater Mohali), HSVP (Haryana), BBMP (Bengaluru), BDA (various), DDA (Delhi).
State/municipal rules governing land use, building heights, FSI/FAR, setbacks, parking, and other construction parameters. Must be followed for any new development.
A plot that is approved but on which no construction has taken place for an extended period. May have regulatory implications depending on approval conditions.
Initial payment made by buyer at the time of booking. Typically 10–20% of total property value. Remaining amount typically funded through home loan.
Preliminary version of builder-buyer agreement or sale deed circulated for review before execution. Buyers have the right to review and negotiate terms before signing.
Director of Town and Country Planning — the authority in Haryana responsible for approving residential and commercial layouts, granting CLU, and regulating development outside GMADA/municipal limits.
The comprehensive verification process before purchasing a property — covering title, RERA status, approvals, encumbrances, litigation, measurements, and compliance.
A single residential unit designed for independent occupation — an apartment, independent house, villa, or floor. The basic unit of residential real estate.
We add new terms regularly. If you don't find a term, suggest it and we'll add it within 48 hours.
Suggest a Term →CREP™ certification goes beyond definitions — module exams and a 100-question final exam test application and professional judgment.
Enroll in CREP™ — ₹4,999 →