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.
Inspector General of Registration — the authority responsible for property registration in most Indian states. In Maharashtra, IGR Maharashtra oversees stamp duty and registration. Portal: igrmaharashtra.gov.in.
Taxable income category under Income Tax Act for rental income from property. Standard deduction of 30% allowed on net annual value after property tax. Interest on home loan deductible up to ₹2 lakh.
Document from the Sub-Registrar in Maharashtra that records details of all registered documents related to a property. Used to trace ownership history. An important due diligence document.
Financial state of being unable to pay debts. Under IBC (Insolvency and Bankruptcy Code), insolvent developers can be subject to resolution process. RERA provides homebuyer protections even in developer insolvency.
Payment schedule where buyer pays in tranches linked to construction milestones. Regulated under RERA — developer cannot demand disproportionate payments.
The process of recording a change of ownership in land revenue records in Punjab and some other North Indian states. Also called mutation. Must be completed after property registration.
Document issued by Mumbai BMC to a developer indicating what permissions are still required for construction. Precedes commencement certificate. Important in Mumbai real estate.
A financial metric used to evaluate the profitability of a real estate investment. The discount rate at which NPV of all cash flows equals zero. Higher IRR indicates better returns.
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 →