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.
Official land ownership certificate issued by the Punjab Revenue Department, extracted from the Jamabandi (Record of Rights). Confirms current ownership, area, and any encumbrances. Essential for any plot or land transaction in Punjab. Available at jamabandi.punjab.gov.in.
Also called FSI. The ratio of total built-up area to total plot area. Determined by local development authority. Higher FAR = more construction permitted on a given plot.
Absolute ownership of property — the most complete form of ownership. Owner has full rights to sell, mortgage, lease, or bequeath.
Initial sale of a property by the developer/builder to the first buyer. Differs from resale (secondary market). RERA registration mandatory for first sale of covered projects.
Self-contained residential unit within a multi-storey building. Often used interchangeably with 'apartment' in India. Must be RERA registered if part of a covered project.
Architectural drawing showing the layout, dimensions, and arrangement of rooms in an apartment or building — as approved by the competent authority. Under RERA, approved floor plan must be publicly available on the RERA portal.
Additional charge levied by developer for apartments on higher floors — typically ₹50–500 per sq ft per floor depending on project. Must be disclosed upfront.
Clause in agreement protecting parties from liability in case of events beyond their control — natural disasters, wars, government actions. Under RERA, the authority decides whether a delay qualifies as force majeure.
Process by which a lender takes possession of a mortgaged property when borrower defaults on loan payments. Governed by SARFAESI Act for institutional lenders.
Property owned outright by the owner, with full rights to the land and building. No ground rent or annual payment to any superior owner. Most common form of urban property ownership in India.
See FAR. The ratio of total permissible built-up area to plot area. Varies by zone, city, and property type as specified in local development regulations.
Additional FSI available for purchase by developers in some cities (notably Mumbai) by paying a premium to the municipal authority. Allows construction beyond normal FSI limits.
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