1070+ property terms explained in plain words: RERA, land records (Fard, Jamabandi, 7/12, Patta), documents, law, tax, finance and state-specific vocabulary. Each term has its legal basis, an Indian example and a tip for agents.
Reviewed 16 October 2026 · 1073 terms · 14 topics
A Maharashtra land document listing all the survey numbers held by an owner in a village, with total area and revenue due.
Example: A buyer uses the 8A extract to confirm the seller's total holding in the village.
Agent tip: Use it alongside the 7/12 to confirm the holding as a whole.
Related: Satbara Utara (7/12) Revenue Record
The inhabited residential area of a village as recorded in revenue records, as distinct from farmland.
Example: A house inside the abadi deh is recorded differently from farmland on its outskirts.
Agent tip: Check the legal status of abadi plots. Some have no formal title documents.
The pace at which new homes or space in a market are sold or leased, usually per month or quarter.
Example: A micro-market sells 300 units a month while 3,600 are unsold. At that rate the stock lasts a year.
Agent tip: A slow absorption rate warns of price pressure.
Related: Unsold Inventory Inventory
A land measurement equal to 43,560 sq ft or about 4,047 sq metres. It is the standard unit for large land parcels and township projects.
Example: A 10 acre township contains 435,600 sq ft of land before roads and common areas are deducted.
Agent tip: Convert regional units such as bigha, kanal or guntha into acres when you compare projects across states.
Also called: Adangal Register, Village Account No. 2
A village-level register in Tamil Nadu and Andhra Pradesh recording who cultivates each survey number, the crop grown and the type of land. It is kept by the village revenue staff and is updated every year or season.
Example: The adangal for a field near Thanjavur shows a tenant farmer growing paddy, which tells the buyer that the owner is not in possession.
Agent tip: Compare the adangal with the patta. If the person in cultivation is not the seller, ask why before buying.
Related: Chitta Patta Revenue Record Girdawari
An officer appointed under RERA, of the rank of a district judge, who decides the amount of compensation under Sections 12, 14, 18 and 19.
Legal basis: Section 71 of the RERA Act, 2016. The Supreme Court in Newtech Promoters (2021) held that refund and interest are decided by the Authority, while compensation is for the adjudicating officer.
Example: A buyer gets a refund order from the Authority and separately claims compensation before the adjudicating officer.
Agent tip: Use the right forum. Refund and interest go to the Authority; compensation goes to the adjudicating officer.
Related: RERA Authority Delay Interest
The route for claiming compensation for matters such as false information, plan changes, structural defects and delay. The adjudicating officer hears the claim and may decide it within about 60 days.
Legal basis: Section 71 of the RERA Act, 2016.
Example: A buyer who suffered a loss from a defect files a claim before the adjudicating officer.
Agent tip: Compensation and refund are separate remedies, with different forums.
Related: Adjudicating Officer Section 14 (RERA)
A doctrine under which a person who occupies land openly, continuously and against the true owner's rights for the period set by the law, usually 12 years for private land and 30 years for government land, can claim ownership.
Legal basis: Limitation Act, 1963 (Articles 65 and 112).
Example: A squatter lives on an unattended plot for more than 12 years and claims title. A court asks if the possession was hostile and uninterrupted.
Agent tip: Visit vacant plots and look for encroachment. An old unattended plot is a warning sign.
Related: Limitation Period Title
Ads for registered projects must be truthful and match the registration, and state rules usually require the RERA registration number to be shown. Misleading ads can lead to penalties and refund claims, and agents are responsible for what they publish too.
Legal basis: Section 12 of the RERA Act, 2016; Section 2(b) defines an advertisement.
Example: An agent in Zirakpur posts a flat as "RERA approved" without the number. The Authority notices and issues a notice.
Agent tip: Put the registration number on each ad and keep a copy of the claims you made. Check your state's current advertising rules.
Related: Section 12 (RERA) RERA Registration Number Mis-selling
Following the rules on property advertising: showing the RERA registration number, using only approved plan details, avoiding exaggerated or false claims and not advertising before registration. State rules may add requirements for display of numbers and QR codes.
Legal basis: Section 12 of the RERA Act, 2016 deals with false or misleading advertisements by promoters.
Example: An agent removes a social media post that said "RERA approved" because the project had not yet been registered.
Agent tip: Add the RERA number to each ad and match every claim to registered documents.
Related: Section 12 (RERA) RERA Registration Number Mis-selling Lead Generation
Also called: Aerocity Mohali
A residential and commercial area near Chandigarh International Airport in Mohali, popular with buyers wanting airport access. Prices vary by sector, and approvals differ by project.
Example: An NRI buyer prefers a flat in Aerocity Mohali for easy airport access.
Agent tip: Check approved status, airport height limits and noise levels. Visit at different times of day.
Related: Mohali (SAS Nagar) Height Clearance (AAI NOC) Tricity
A written statement confirmed on oath before a notary or magistrate. It is often used for name change, lost documents and declarations.
Example: A seller submits an affidavit that a lost original sale deed has not been mortgaged.
Agent tip: An affidavit is not a title document. Use it only to support other proofs.
Related: Indemnity Bond Notary
Housing aimed at lower and middle income buyers. Governments define it by size and price limits for subsidies and tax concessions, and state policies add rules for plots and flats.
Legal basis: For the 1% GST rate, the carpet area must be up to 60 sq m in metropolitan cities or up to 90 sq m elsewhere, and the value must be up to ₹45 lakh.
Example: A 700 sq ft (about 65 sq m) flat priced at ₹40 lakh in a non-metro city can qualify for the 1% GST rate. The same flat in a metro does not, because it is above 60 sq m.
Agent tip: Check both the area and the price limits, and which cities count as metropolitan, when a buyer relies on a tax or subsidy benefit.
Related: Pradhan Mantri Awas Yojana (PMAY) GST on Real Estate Carpet Area
A government-backed scheme under which housing complexes are made available at affordable rent for urban migrants, workers and low-income households, often by converting vacant government-funded flats or building new ones with private partners.
Example: A factory worker near Ludhiana rents a small unit in an affordable rental complex at a fixed monthly rent.
Agent tip: Rules and eligibility come from the scheme's current guidelines and state notifications. Verify them before advising anyone.
Related: Affordable Housing Pradhan Mantri Awas Yojana (PMAY) Tenant
Also called: GST Affordable Housing
For GST, a residential apartment qualifies as affordable if its carpet area is up to 60 square metres in notified metropolitan cities, or 90 square metres elsewhere, and its value is up to ₹45 lakh. Such flats attract a lower effective GST rate.
Legal basis: GST rate notifications under the CGST Act, 2017; check the latest notification before quoting rates.
Example: A 2 BHK of 85 square metres carpet area priced at ₹44 lakh in a non-metro city meets the area and price limits, but one at ₹46 lakh does not.
Agent tip: Both limits must be met. A flat that is cheap but too large, or small but too costly, loses the lower rate.
Help given to a buyer after the sale, such as tracking payments, possession, utility connections, registry, tenancy and resale. It builds goodwill that brings referrals. It does not extend to giving legal advice you are not qualified for.
Example: After a buyer gets possession, the agent helps him find a tenant and update electricity records.
Agent tip: Call clients at possession and at the one-year mark. Referrals usually come from them.
The standards an agent must follow, such as being registered, giving true information, not hiding facts, not inducing buyers wrongly and keeping the required documents. Under RERA, agents have duties towards both buyers and the authority.
Legal basis: Section 10 of the RERA Act, 2016 lists the functions and duties of real estate agents.
Example: An agent tells a buyer that a project is not yet registered and refuses to take a booking until it is.
Agent tip: Treat the RERA duties as your minimum standard. A clean record builds repeat business.
Related: Section 10 (RERA) Real Estate Agent Mis-selling Conflict of Interest
Also called: BBA
The agreement between a promoter and an allottee in a RERA project that sets out price, payment plan, area, possession date, specifications and remedies. It is signed after booking and before the sale deed.
Legal basis: Section 13 of the RERA Act, 2016. The promoter must use the form prescribed in the state RERA rules.
Example: Mr. Verma signs a builder-buyer agreement for a 2 BHK after paying 10% of the price, as RERA permits.
Agent tip: Read the clauses on possession date, delay interest, cancellation and changes to the plan. Compare them with the state's model agreement.
Related: Builder-Buyer Agreement Possession Date Delay Interest
A document in which an owner and a tenant agree to sign a lease on stated terms in future. It fixes rent, term and deposit in advance, and in some cases, it also gives the tenant a period for fitting out before rent begins.
Example: A clinic owner in Chandigarh signs an agreement to lease a first-floor space and pays a deposit, with the lease to be registered once the fire clearance arrives.
Agent tip: State the date by which the lease has to be signed and what happens to the deposit if the owner or the tenant backs out.
Related: Lease Deed Letter of Intent (LoI) Security Deposit Lessor
Also called: Bainama, Sale Agreement, Agreement of Sale
A contract in which the seller agrees to sell and the buyer agrees to buy at an agreed price on fixed terms. It does not itself transfer ownership. That happens only at registration of the sale deed.
Legal basis: Transfer of Property Act, 1882. Section 53A can protect a buyer in possession only if the agreement itself is registered, because Section 17(1A) of the Registration Act, 1908 denies effect to an unregistered one.
Example: A seller signs an agreement to sell with a buyer and takes 20% of the price. The title stays with the seller until the sale deed is registered.
Agent tip: Make sure the ATS mentions the exact date for the sale deed and who bears the stamp duty.
Related: Sale Deed Earnest Money Part Performance
Land recorded for farming in the revenue records. It cannot be used for housing or commerce without a change of land use, and rules on who may buy it differ by state.
Example: A buyer cannot build a factory on a plot in the revenue record as agricultural without a CLU or NA order.
Agent tip: Always check the land use in the Jamabandi, Fard or 7/12 extract. Some states bar non-farmers from buying farmland.
Related: Change of Land Use (CLU) NA (Non-Agricultural) Order Jamabandi
Also called: Land Ceiling Act, Surplus Land, Ceiling on Holdings
A state-law limit on how much agricultural land a person or family may hold. Land beyond the limit, called surplus land, can be taken by the state and given to landless people, with compensation as the law provides.
Example: A buyer in a state with a 20-acre ceiling finds that the seller already holds 18 acres, so buying 5 more would take the seller above the limit.
Agent tip: In states with ceiling laws, ask for a declaration of the seller's and the buyer's total holdings. Buying beyond the limit may be void.
Related: Land Reforms Urban Land Ceiling Agricultural Land Agricultural Tenancy
Also called: Kisan Tenancy, Batai, Crop-Share Tenancy
An arrangement where a person cultivates another's farmland for rent or a crop share. Many states give protected tenants security, and some have given tenants ownership rights, so a landlord's right to sell or evict can be limited.
Example: In Haryana, a farmer's family has cultivated a field for 40 years on lease. A buyer learns that the cultivator may claim tenancy rights under the state's tenancy law.
Agent tip: Check the girdawari to see who is in actual cultivation. A tenant listed there can block a clean sale.
Related: Girdawari Land Reforms Tenant Landlord
The growth of housing, offices, logistics and hotels around a new or expanded airport. Land near airports can also face height limits and noise zones, so benefits and restrictions both apply.
Example: A buyer near a new airport asks for the height clearance and for the master plan zone of the plot.
Agent tip: Check the height limits and flight-path rules with the airport and planning authority.
Related: Height Clearance (AAI NOC) Master Plan Zoning (Land Use Zone) Micro-market
The national body that manages airports and air navigation. Near airports it controls the height of buildings through no-objection certificates, so projects in flight-path areas need its height clearance.
Example: A tower near Chandigarh airport cannot add floors beyond the height the AAI allows.
Agent tip: In an airport city, check whether a tower's planned height has an AAI clearance before booking a high floor.
Related: Height Clearance (AAI NOC) Floor Area Ratio (FAR) Sanctioned Plan
A letter from a developer confirming that a specific unit is allotted to a buyer after booking. It is usually the first formal document in the builder-buyer relationship.
Example: A buyer pays the booking amount and receives an allotment letter naming Tower B, flat 1204.
Agent tip: Keep it safe. In disputes it proves the unit, price and date of booking.
Related: Booking Amount Agreement for Sale Application Form (Booking Form)
A person to whom a plot, apartment or building has been allotted, sold or otherwise transferred by the promoter. It includes a later buyer, but not a tenant.
Legal basis: Defined in Section 2(d) of the RERA Act, 2016.
Example: A buyer who books a flat directly from the developer is an allottee. So is one who buys it from the first buyer.
Agent tip: Allottees have rights to information, refund, interest and timely possession.
Related: Promoter Buyer Section 19 (RERA)
Also called: AIF, Real Estate AIF, Category II AIF
A privately pooled fund registered with SEBI that invests in assets other than ordinary shares and bonds. Real estate AIFs fall under Category II. Investors must put in a large minimum amount, so they are aimed at wealthy investors.
Legal basis: SEBI (Alternative Investment Funds) Regulations, 2012; the minimum investment per investor is ₹1 crore, subject to the regulations.
Example: A fund pools money from HNIs to lend to residential projects in the Delhi NCR, and each investor commits at least the regulatory minimum.
Agent tip: Do not sell AIFs casually. Check the fund's SEBI registration, track record and exit terms.
Related: SEBI REIT (Real Estate Investment Trust) Collective Investment Scheme
The planned capital city of Andhra Pradesh in Guntur-Krishna region, created through land pooling by farmers. Its progress has been shaped by changes in state policy, so a buyer or agent should check the current status of works and plot allotments.
Example: A farmer's heir receives a returnable plot under the pooling scheme, and asks a lawyer how to verify its record.
Agent tip: Do not rely on old news about Amaravati. Check current state notifications and the authority's records before buying anywhere near it.
Related: Land Pooling Master Plan AP RERA Greenfield Project
Also called: Revised Plan
A revised building plan submitted and approved when the owner or builder changes the design after the original sanction. It is needed for changes in area, floors, layout or use, and keeps the building legally consistent.
Example: A developer in Mohali added a clubhouse after sanction and applied for an amended plan before building it.
Agent tip: Under RERA, major changes to sanctioned plans need allottees' consent. Ask whether the plan you saw was later changed.
Related: Sanctioned Plan Building Plan Approval Section 14 (RERA)
The facilities in a project beyond the unit itself, such as a club house, pool, gym, garden, security and parking. Under RERA, amenities promised in the registered project must be provided.
Legal basis: Promised amenities are part of the representations covered by Section 12 of the RERA Act, 2016.
Example: A brochure shows a clubhouse and a podium garden. The registered plan and the agreement should list both.
Agent tip: Compare brochure promises with the registered plan and the agreement.
Related: Common Area Section 12 (RERA) Specifications
The gradual repayment of a loan through scheduled instalments, in which interest is paid first and more principal is repaid later.
Example: In the first year of a 20-year loan, most of the EMI is interest.
Agent tip: Show clients an amortisation schedule to explain why prepayment early in the loan saves more.
Also called: AKIC
A planned industrial corridor along the eastern Dedicated Freight Corridor linking Punjab and West Bengal through Haryana, Uttar Pradesh, Bihar and Jharkhand, with influence areas that also take in Uttarakhand and the Baddi-Barotiwala-Nalagarh belt in Himachal Pradesh. Nodes proposed in various states aim at manufacturing and logistics, with progress differing by location.
Example: A Patiala-based trader hears of an AKIC node in the area and asks the state industries department what is actually notified.
Agent tip: Corridor announcements often come before land acquisition. Check official notifications before acting on a rumour.
Related: Industrial Corridor Dedicated Freight Corridor (DFC) Industrial Plot Land Acquisition (RFCTLARR Act, 2013)
Also called: Pushtaini Jaidad, Paitrik Sampatti
Property inherited from a father, grandfather or great-grandfather in the male line, which has been passed down without division. A child gains a right to it by birth, unlike self-acquired property, which the owner can handle freely.
Example: A 5-acre family farm near Karnal has passed from great-grandfather to father unpartitioned. The son's children have a claim along with him.
Agent tip: When a seller offers family land, ask how he obtained it. If it is ancestral, other family members may have a claim.
Related: Coparcenary Self-Acquired Property Hindu Succession Act, 1956 Partition Deed
The authority planning the Amaravati capital region in Andhra Pradesh. Much of the capital land was gathered through a land pooling scheme where farmers gave land in return for developed plots.
Example: A farmer who pooled land gets a developed plot back, and an investor checks the plot's pooling documents.
Agent tip: For land pooling plots, check the pooling papers and the authority's records before buying.
Related: Land Pooling Development Authority AP RERA
Also called: APR, Effective Cost of Loan
The yearly cost of a loan expressed as a percentage, including the interest rate and certain fees and charges. It shows the true cost better than the interest rate alone, which leaves out items like processing fees.
Example: A loan advertised at 8.5% with a high upfront fee has a higher APR than one at 8.6% with almost no fee.
Agent tip: Compare lenders using APR from the key fact statement, and always ask which charges are included in the figure.
Also called: ARV System
A way to calculate property tax based on the yearly rent the property could earn. The municipality applies a rate to this value, after deductions, to arrive at the tax bill.
Example: A municipality assesses a shop in an old market by estimating the rent it should fetch, then applies the tax rate on that figure.
Agent tip: When a bill looks too high, ask how the rental value was determined and whether rent control or old records were applied.
Related: Property Tax Unit Area Value (UAV) System Capital Value System
Also called: Any ROR, AnyROR Gujarat
Gujarat's online service for village form 7/12, 8-A and 6 (mutation) extracts. Citizens can view the record of rights for any survey number in the state without going to the taluka office.
Example: A buyer of farmland near Anand opens AnyROR and finds an entry for a bank charge on the land that the seller said had been repaid years ago.
Agent tip: Download the 7/12 and the 6 (mutation register) extract on the same day. Those two show the owner, the encumbrances and the history of changes.
Related: Satbara Utara (7/12) 8A Extract Mutation Bhulekh
The Andhra Pradesh Real Estate Regulatory Authority, which regulates projects and agents in Andhra Pradesh.
Example: A Visakhapatnam buyer checks a project on the AP RERA portal.
Agent tip: Andhra Pradesh uses patta and other southern land records.
Related: RERA Authority Patta
Also called: Dwelling Unit
A self-contained residential unit in a multi-storey building, sold with an undivided share in the land and common areas. RERA treats it as a unit that must be priced on carpet area.
Legal basis: Defined in Section 2(e) of the RERA Act, 2016. Many states also have an apartment ownership law.
Example: Ms. Kaur buys a 2 BHK in a Panchkula tower. She owns the flat and an undivided share of the land beneath it.
Agent tip: In most north Indian states the words apartment and flat are used interchangeably. Use the term that appears in the agreement.
Related: Flat Undivided Share of Land (UDS) Carpet Area
A state law that allows individual ownership of flats in a building and sets rules for common areas and associations. Examples include the Maharashtra Apartment Ownership Act, 1970, the Karnataka Apartment Ownership Act, 1972, and the Delhi Apartment Ownership Act, 1986.
Example: Under a state apartment ownership law, a flat owner has a deed, a share in the common areas and a vote in the association.
Agent tip: Check the state's act together with RERA when you deal with association matters.
Related: Apartment Undivided Share of Land (UDS)
Also called: Apna Khata Rajasthan
Rajasthan's online land record service, from which owners can download the jamabandi nakal, the khasra and the map. It is used to confirm who the khatedar is and which survey numbers the person holds.
Example: In Jodhpur, Meena downloads the jamabandi from Apna Khata and sees the seller's brother also listed as khatedar of the same khasra.
Agent tip: Check every khatedar in the extract. If the seller is only one of several, all of them must sign the deed.
Related: Khatedar Jamabandi Khasra Number Girdawari
A certificate that authenticates a document for use in another country that is a party to the Hague Apostille Convention. India is a party, and the Ministry of External Affairs issues apostilles for Indian documents.
Example: An NRI in the UK signs a POA there and gets it apostilled before sending it to India.
Agent tip: Where a POA is signed abroad, check the requirements for authentication and stamping when it reaches India.
Related: Power of Attorney (POA) NRI (Non-Resident Indian) Notary
The form a buyer signs and submits with the booking amount when applying for a unit in a project. It records unit preferences, price and terms at the time of booking.
Example: A buyer fills a booking form for a 3 BHK with a cheque for ₹5 lakh.
Agent tip: Never pay a booking amount without receiving the stamped receipt and a copy of the form.
Related: Booking Amount Allotment Letter
A land development plan sanctioned by the competent authority, showing plots, roads, open spaces and services. A plot in an approved layout can get building plan approval, utility connections and bank loans.
Example: Two plots on the same road are priced differently because one lies inside an approved layout and the other in an unapproved colony.
Agent tip: Ask for the layout approval number and verify it with the authority. Do not accept a builder's brochure as proof.
Related: Layout Plan Unauthorized Construction Development Authority
Also called: Arbitration Act, A&C Act
The law that governs arbitration in India, where a private arbitrator decides a dispute instead of a court, and also covers conciliation and enforcement of awards. Many builder agreements and commercial leases carry an arbitration clause.
Legal basis: Arbitration and Conciliation Act, 1996, as amended.
Example: A commercial landlord and tenant in Bengaluru go to arbitration under their lease. The arbitrator's award is later enforced by the court.
Agent tip: Read the arbitration clause in the agreement before signing. Check the seat, the number of arbitrators and who bears the fees.
Related: Arbitration Clause Mediation Lok Adalat Civil Court
A contract term that sends disputes to arbitration instead of court. Under RERA, buyers can still approach the RERA authority despite such a clause.
Legal basis: Arbitration and Conciliation Act, 1996.
Example: A builder-buyer agreement says all disputes go to arbitration, but the buyer files a complaint with the state RERA authority.
Agent tip: Courts have held that an arbitration clause does not bar RERA remedies. Take legal advice before relying on it.
Related: Builder-Buyer Agreement RERA Authority
Also called: ASI NOC
Permission needed to build near a monument protected by the Archaeological Survey of India. Law restricts construction in a zone around such monuments, and repairs or new building in the regulated area need a competent authority's clearance.
Legal basis: Ancient Monuments and Archaeological Sites and Remains Act, 1958 (as amended in 2010)
Example: A hotel plan in Delhi near a protected tomb had to wait for the competent authority's permission before approval.
Agent tip: If a plot is near an old fort or tomb, check with the ASI early. Distances are set by law and notification.
Related: Heritage Zone Clearance No Objection Certificate (NOC) Building Plan Approval
The central agency that protects monuments. Under the law, construction is banned within a prohibited area around a protected monument, and regulated in a wider area, so plots near such sites may need approval.
Legal basis: Ancient Monuments and Archaeological Sites and Remains Act, 1958, as amended in 2010.
Example: A plot buyer near a protected fort checks whether the plot lies in the prohibited or regulated area.
Agent tip: Ask the seller about nearby protected monuments and confirm the distances with the ASI or local authority.
Related: Zoning (Land Use Zone) Sanctioned Plan No Objection Certificate (NOC)
A statement from the developer that breaks down carpet area, balcony area, common area share and total saleable area for a unit.
Example: The area statement shows 920 sq ft carpet, 80 sq ft balcony and 250 sq ft common share.
Agent tip: Ask for it before booking, and check that the carpet area matches the RERA registration.
Related: Carpet Area Super Built-Up Area Loading Factor
Also called: Unrealised Rent Recovered
Rent that was due earlier but was received late, or that was unpaid and recovered later. When received, it is taxed in the year of receipt, with a deduction of 30% allowed on it, whether or not the property is still owned.
Legal basis: Section 25A of the Income-tax Act, 1961 (renumbered in the 2025 Act).
Example: A landlord recovers six months of unpaid rent after a court case two years later, and pays tax on it in the year he receives it.
Agent tip: Keep court orders and rent records. They are the evidence that the rent was truly unrealised.
A drawing or computer image in a brochure or advertisement showing how the project may look after completion. It is illustrative and may differ from what is built, so buyers should rely on sanctioned plans and the agreement.
Example: A brochure picture shows a lake view from every tower, but the sanctioned layout shows a road on that side.
Agent tip: Explain to buyers that images are not binding. Point to the registered plan.
Related: Brochure Disclaimer Sanctioned Plan Amenities
Also called: Completion Plan
A set of drawings showing the building exactly as it was constructed, including any changes during construction. Authorities often ask for it with the completion certificate application, and owners use it for repairs and future work.
Example: A housing society in Panchkula needed the as-built drawings to locate buried pipes when planning a new water tank.
Agent tip: Ask the builder to hand over as-built architectural, structural and services drawings with the completion papers.
Related: Completion Certificate (CC) Sanctioned Plan MEP (Mechanical, Electrical and Plumbing)
Also called: ARC
A company registered with the RBI that buys bad loans from banks and tries to recover the money, often by selling or restructuring the secured property. Some properties reaching the market come from ARC portfolios.
Legal basis: Registered under the SARFAESI Act, 2002 and regulated by the RBI.
Example: A bank sells a defaulted loan on a Kharar warehouse to an ARC, which then advertises the warehouse for sale to recover its money.
Agent tip: Properties from an ARC are sold as is. Check the sale notice, the dues, and whether any court case is pending.
Related: SARFAESI Act NPA (Non-Performing Asset) Bank Auction Property
A residential facility for older people who need help with daily activities, offering meals, health monitoring and care staff in addition to housing. It differs from a retirement community where residents are independent. Fees are charged monthly or as a deposit plus charges.
Example: A retired teacher in Dehradun moves into an assisted living home that includes meals and nurse support for a monthly fee.
Agent tip: Ask for the fee structure, refund terms and what happens if the operator closes or care needs rise.
A body formed by the buyers of a project to manage common areas and deal with the promoter. The promoter must hand over common areas to it.
Legal basis: RERA Act, 2016, Sections 11(4)(e) and 17.
Example: Residents form an association of allottees, which then takes over the common areas.
Agent tip: Encourage new buyers to join early, as the association can file a complaint for the whole project.
A promise by a developer to pay the buyer a fixed return, often rent or interest, until possession or for a period after.
Example: A commercial project promises 12% assured return for three years on the booking amount.
Agent tip: Assured returns have caused many disputes. Be careful when you advise on them and note the legal position of such schemes.
Related: Subvention Scheme Rental Yield
Also called: Kurki, Property Attachment, Court Attachment
A court or authority order that freezes a property so the owner cannot sell it while a debt or claim is decided. The order may be recorded in the registry or revenue record, and a sale made after it may be void against the claimant.
Example: A court in Panipat attaches a shop in a money-recovery case, and the attachment is noted in the revenue record. The owner's later sale to a buyer is challenged.
Agent tip: Search for attachments in the court and registrar records. A buyer who ignores one risks losing the property.
Related: Encumbrance Lis Pendens Civil Court Litigation Check
Also called: Witness, Gawah
A person who sees a document being signed and also signs it as witness. For a registered deed, witnesses and identifiers help prove identity and execution if the document is later challenged.
Example: In a Jalandhar gift deed, two neighbours sign as witnesses after seeing the donor sign, and the sub-registrar notes their identity.
Agent tip: Choose witnesses who know the signatory and will be reachable later. Avoid strangers brought only for the day.
Related: Sale Deed Registration (Property) Sub-Registrar Affidavit
Also called: AAC Block, Aerocon Block
A light, factory-made building block with tiny air pockets, used to build walls. It is lighter than clay brick, speeds up work and insulates against heat, but it needs the right mortar and plaster to avoid cracks.
Example: A developer in Mohali chose AAC block walls for a 14-storey tower to cut the dead load on the frame and to finish floors faster.
Agent tip: Ask whether the builder used proper jointing mortar and a mesh at wall-to-column joints. Poor finishing is the usual cause of cracks in block walls.
Related: Fly Ash Brick Framed Structure Slab
Moving an existing home loan to another lender offering a lower rate or better terms.
Example: A borrower moves a 9.3% loan to a bank offering 8.6%, saving interest over the remaining tenure.
Agent tip: Compare the processing fee and legal costs with the savings.
Related: Home Loan Processing Fee
The projecting or recessed outdoor space attached to a flat. Under RERA the exclusive balcony is not part of carpet area, so builders show it separately.
Legal basis: Section 2(k) and its explanation in the RERA Act, 2016.
Example: A 2 BHK lists 780 sq ft carpet area and 70 sq ft of balcony. The buyer should not pay carpet-area rate on the balcony if the agreement treats it separately.
Agent tip: Read the agreement to see whether balconies are charged at full or reduced rate.
Related: Carpet Area Built-Up Area
A locality in Zirakpur on the Chandigarh-Ambala side with apartments, plots and small commercial areas. Buyers check road access, drainage and whether projects fall under approved colonies.
Example: A buyer in Baltana asks whether the flat is in a RERA-registered project.
Agent tip: Check the licence and RERA details of each project, because pockets in Baltana differ widely.
Related: Zirakpur Peer Muchalla Colony Licence
Also called: BKC
A planned business district in Mumbai, developed by MMRDA, on reclaimed land between Bandra and Kurla. It is known for Grade A offices, financial institutions, consulates and the nearby metro and road links.
Example: A start-up looks at leasing a small office in BKC and compares it with an office in Andheri for client access.
Agent tip: BKC office space is leased and often governed by MMRDA lease terms; verify the lease and any transfer fees.
Related: MMRDA Grade A Office Office Space Leasehold Property
Also called: Banglar Bhumi
West Bengal's online portal for land records, run by the land and land reforms department. Users search the record of rights and plot maps, apply for mutation and check the status of applications.
Example: Before buying a plot in New Town, Kolkata, Rina searches the plot on Banglarbhumi and sees that the recorded land type is farmland, not residential.
Agent tip: Print the portal record on the day of registration. Banglarbhumi also shows the mutation status, so check whether the seller's own name is already recorded.
Related: Khatian Dag Number (Plot Number) Mutation Bhulekh
Also called: Banjar Jadid, Banjar Qadim, Barren Land
Uncultivated land in the revenue records of north India, divided into banjar jadid (fallow for a few years, though cultivable) and banjar qadim (fallow for a long time). Both classes are different from land under regular cultivation.
Example: A buyer in Ambala finds a 5-acre plot listed as banjar qadim and learns that such land is treated as agricultural for the purpose of conversion.
Agent tip: Banjar status does not mean the land is free for development. The same agricultural rules, CLU and master plan checks still apply.
Related: Agricultural Land Gair Mumkin Change of Land Use (CLU) Jamabandi
A property sold by a bank or financial institution to recover dues from a defaulting borrower. It is usually sold "as is where is".
Example: A bank puts a flat on e-auction with a reserve price below the market value.
Agent tip: Inspect the property and legal papers. Possession, dues and litigation are the buyer's risk.
Related: SARFAESI Act Foreclosure Due Diligence
Also called: Technical Valuation, Bank Valuer Report
A valuation of the property commissioned by the lender through an empanelled valuer, to confirm its market value and construction status before it lends. The bank lends against its own assessed value, which may be lower than the price you agreed.
Example: Tarun agrees to pay ₹80 lakh for a flat in Dera Bassi, but the bank valuer assesses it at ₹72 lakh, so the loan is calculated on the lower figure and Tarun must fund the gap.
Agent tip: Warn buyers that a low valuation shifts more of the cost to them. Share nearby recent sale deeds with the valuer if the price is fair.
A town and surrounding area in Punjab near Zirakpur and Mohali, where several residential and industrial projects have come up. Land use and approvals vary widely, so check each project separately.
Example: A buyer sees an ad for plots in Banur and asks whether the colony is approved.
Agent tip: Check the licence of every colony in Banur and its RERA registration, since quality varies.
Related: Zirakpur Colony Licence Approved Layout
A commercial space delivered with only the basic structure, without flooring, ceiling, partitions or finishes. The tenant does the fit-out.
Example: An office is leased as a bare shell. The tenant spends ₹1,200 per sq ft on interiors.
Agent tip: Compare fit-out cost and rent-free periods when you compare bare shell with ready offices.
Related: Warm Shell Office Space
Also called: বাড়ি, Bari Bhara
The Bengali word for house or home. It is used in forms such as "bari bhara" for house rent, and for an independent house in a listing.
Example: A family in Howrah sees a "bari bhara" notice outside a ground-floor house.
Agent tip: Ask for a written rent agreement even in informal "bari bhara" deals, and for the owner's identity documents.
Related: Independent House Rent Agreement Tenant Landlord
The floor of a building that lies below ground. Approved use varies by state and authority, and often includes parking, storage and services.
Example: A project's basement is approved for parking only, but the builder tries to sell it as shops.
Agent tip: Check what the sanctioned plan allows in the basement, and whether the basement is counted in FAR.
Related: Stilt Raft Foundation Floor Area Ratio (FAR)
The base rate per sq ft or per unit before extra charges such as PLC, floor rise, parking, club membership, taxes and maintenance deposits.
Example: The BSP is ₹6,000 per sq ft, but with extras the buyer's all-in rate is ₹7,150.
Agent tip: Convert BSP into an all-in price for clients.
Related: Price Sheet (Cost Sheet) Preferential Location Charges (PLC) Floor Rise Charges
Also called: Barga, Bargadar, Operation Barga
A sharecropper in West Bengal who cultivates another's land for a share of the crop and whose name is recorded under the state's Operation Barga programme. A recorded bataidar has hereditary tenancy rights, which cannot be ended at will.
Example: A buyer in Hooghly finds a recorded bataidar in the khatian of a 3-acre field. The seller said the land was free of tenants.
Agent tip: Look in the remarks column of the record for barga entries. A recorded bataidar has strong rights and affects the land's value.
Related: Khatian Agricultural Tenancy Land Reforms Banglarbhumi
Also called: Bayana Amount, Advance
A Hindi word for the advance paid by a buyer when agreeing to buy a property. It is normally a part of the sale price and is given with a written receipt or agreement, and may be forfeited if the buyer backs out.
Example: A buyer pays ₹5 lakh as bayana and gets a receipt stating the balance payment date.
Agent tip: Always issue a written receipt stating the property, amount, balance and last date.
Bruhat Bengaluru Mahanagara Palike, the former municipal body of Bengaluru. From September 2025 it was replaced by the Greater Bengaluru Authority with five city corporations. Older documents still carry its name.
Example: A khata certificate issued in 2022 still shows BBMP.
Agent tip: For current work in Bengaluru, check which of the new corporations covers the property.
Related: Khata (Karnataka) BDA Municipal Corporation
The Bangalore Development Authority, which plans, develops and allots sites and flats in Bengaluru and approves layouts.
Example: A Bengaluru buyer buys a BDA site and receives a sale deed from the authority.
Agent tip: Check whether the site has A-khata.
Related: Development Authority Khata (Karnataka)
A horizontal structural member that carries the loads of slabs and walls and transfers them to columns.
Example: Beams run along the edges of a slab and connect the columns of the building.
Agent tip: Cutting or altering beams during interior work can weaken the structure. Warn clients against it.
Related: Column Slab Structural Stability Certificate
A deal in which property is held by one person but paid for by another, who is the real beneficiary. The law prohibits it, and the property can be confiscated.
Legal basis: Benami Transactions (Prohibition) Act, 1988, as amended in 2016. Penalties include imprisonment of one to seven years and a fine of up to 25% of fair market value. The constitutional validity of some provisions has been in dispute.
Example: A businessman buys a flat in his driver's name to hide the money. The authorities can attach the flat.
Agent tip: Do not take part in deals where the buyer and payer are different without a lawful reason.
Related: Title Due Diligence
Also called: BM
A fixed reference point of known height above mean sea level, marked on a permanent object. Surveyors and engineers use it to set the levels of roads, floors and drains in a project.
Example: The engineer used a nearby benchmark to set the plinth level of a Panchkula house well above the road to avoid water entering.
Agent tip: Plinth level against the road matters. A house built below road level can get flooded in heavy rain.
Related: Contour Line Plinth Topographical Survey
Shorthand for bedroom, hall and kitchen. A 2 BHK has two bedrooms, one living room and one kitchen. The label says nothing about size, so two 2 BHKs can differ greatly in carpet area.
Example: One builder's 2 BHK has 650 sq ft carpet area and a competitor's has 900 sq ft. Both are sold as 2 BHK.
Agent tip: Always add the carpet area when you describe a BHK type.
Related: Carpet Area Studio Apartment RK (Room Kitchen)
Also called: Bhudan Land, Bhoodan Yajna Land
Land donated for the landless during the Bhoodan movement of the 1950s and later. State Bhoodan laws normally restrict its sale or transfer, and unallotted donated land stays under a Bhoodan board.
Example: In Jharkhand, a seller offers a 2-acre field once donated under the Bhoodan movement. The record shows it was allotted to a landless family with a bar on sale.
Agent tip: If the revenue record mentions Bhoodan, do not accept a private deed alone. Get the allotment order and the state's transfer rules checked.
Related: Agricultural Land Revenue Record Land Reforms Title
Also called: Bhoomi Portal
Karnataka's computerised land records system, through which farmers and buyers get the RTC (record of rights, tenancy and crops) and mutation extracts online. It replaced the old village accountant registers.
Example: A buyer from Mysuru downloads the RTC for a 1-acre site on the Bhoomi portal and sees a bank loan entry that the seller did not mention.
Agent tip: Always pull a fresh RTC just before registration. Entries for loans, court orders or tenants appear there and can change in weeks.
Related: RTC (Pahani) Mutation Record of Rights (RoR) Khata (Karnataka)
Also called: Dharani, Bhu Bharathi
Telangana's land record law and portal, introduced in 2025 to replace the earlier Dharani system. It holds records of rights, handles mutation and sale registration linkage, and provides an appeal route against revenue officials' decisions.
Example: After buying agricultural land near Warangal, Srinivas checks that the Bhu Bharati record shows his name along with the survey number, instead of relying only on the registered deed.
Agent tip: Older Dharani printouts may be outdated. Ask for a fresh record from the current portal and check the state's latest procedure for mutation.
Related: Record of Rights (RoR) Mutation Survey Number Revenue Record
Also called: Cadastral Map, Village Map, Naksha, Bhunaksha
The official digital or paper map of a village or ward that shows each survey or khasra parcel with its boundaries and number. It lets a buyer see the shape and neighbours of a plot, and match it with the written record of rights.
Example: Before buying 2 acres near Hoshiarpur, Gurpreet pulls the cadastral map and sees that the land has a narrow 8-foot neck to the road, which the seller's brochure never mentioned.
Agent tip: Compare the map shape with the area written in the deed. If the numbers differ noticeably, ask for fresh demarcation before paying the balance.
Related: Survey Number Khasra Number Demarcation Revenue Record
The capital of Odisha, a planned city with temples, tech parks, universities and a growing apartment market. Chandrasekharpur, Patia and Rasulgarh are well-known localities.
Example: A government employee on transfer to Bhubaneswar rents near Patia first, and decides on a purchase later.
Agent tip: Confirm Odisha RERA registration through ORERA and the development authority approval.
Related: ORERA Development Authority Master Plan Rent Agreement
Also called: भूखंड
The Marathi word for a plot of land, often used in official notices and advertisements for building plots in Maharashtra. It differs from "shet jamin", meaning farmland.
Example: A buyer sees a "bhukhand" notice in Nashik and asks if the plot has an NA order.
Agent tip: Ask whether a bhukhand is NA-converted and sanctioned by the planning authority.
Related: Plot NA (Non-Agricultural) Order Approved Layout Agricultural Land
A common name for state online land record portals, such as Bhulekh in Uttar Pradesh and Odisha, and Mahabhulekh in Maharashtra.
Example: A buyer in Lucknow downloads the khatauni from the state's Bhulekh portal.
Agent tip: Use the official portal. Third-party sites may show outdated data.
Related: Revenue Record Khatauni
Also called: Bhumidhari, Bhumidhar with Transferable Rights
A land-holder category in Uttar Pradesh and Uttarakhand in the zamindari abolition law. Bhumidhars hold land directly from the state, with rights that were either freely transferable or restricted, depending on the sub-class.
Example: A buyer in Meerut finds the seller listed as a bhumidhar with non-transferable rights. The revenue code generally bars a sale of such land, so the buyer drops the deal and checks whether the status has changed.
Agent tip: In UP, check the category in the khatauni before agreeing to buy. It decides whether and how the land can be sold.
Related: Khatauni Zamindari Abolition Revenue Record Agricultural Land
A traditional land unit whose size differs widely by state and even by district. It may be roughly a sixth of an acre in one place and more than half an acre in another.
Example: A "5 bigha" farm in Rajasthan is a very different size from "5 bigha" in Assam or West Bengal.
Agent tip: Never quote bigha without the state. Ask for the local conversion in the revenue record before pricing the land.
Related: Biswa Kanal Khasra Number
Also called: BOQ
An itemised list of materials, labour and work quantities with rates, used to price a construction job and to compare contractor bids. It makes payment claims easier to check because each item has a measured quantity.
Example: A villa owner in Zirakpur got three BOQs from contractors and found one had left out the waterproofing line entirely.
Agent tip: When hiring a contractor, insist on a detailed BOQ. Vague lump-sum quotes are a common source of cost disputes.
Related: Specifications Turnkey Retention Money
A subdivision of a bigha, commonly 1/20 of a bigha. The size depends on the local bigha used in that state or tehsil.
Example: In parts of north India land is described as "3 bigha 5 biswa" in the revenue record.
Agent tip: If a seller uses biswa, ask for the equivalent in sq yards or sq metres from the revenue record.
Related: Bigha Khasra Number
A small traditional land unit used in northern India, one-twentieth of a biswa. It appears in revenue records of Uttar Pradesh and Punjab, where land is recorded in bighas, biswas and biswansis.
Example: A khatauni in western Uttar Pradesh recorded a family's share as a few bigha, some biswa and a few biswansi.
Agent tip: Sizes of bigha, biswa and biswansi differ by state. Check the local conversion in the revenue office.
The Bangalore Metropolitan Region Development Authority, which plans the wider Bengaluru region beyond the city limits.
Example: A site on the edge of Bengaluru falls under BMRDA's master plan.
Agent tip: Check the planning authority for peripheral land.
Related: Development Authority Master Plan
A buyer who pays fair value and acts in good faith, without knowing of a defect in the seller's title. In certain cases, the law protects such a buyer against earlier unknown claims, but only if proper care was taken to inquire.
Example: A buyer in Pune checks the registrar's records and the revenue record, pays by bank transfer and registers the deed. Later, an unknown claimant surfaces, and the buyer's good faith helps him defend.
Agent tip: Good faith needs proof. Keep the title search, the receipts and the bank trail with the deal file.
Related: Marketable Title Constructive Notice Title Search Fraudulent Transfer
Also called: Booking Money
The initial sum paid to reserve a unit, adjusted against the price. Under RERA the promoter cannot take more than 10% of the cost as advance before a registered agreement for sale.
Legal basis: Section 13 of the RERA Act, 2016.
Example: A buyer pays ₹5 lakh as booking amount on a ₹60 lakh flat. This is under the 10% limit.
Agent tip: If a developer asks for more than 10% before the agreement for sale, warn the client.
Related: Agreement for Sale Token Amount Earnest Money
Also called: Property Boundary Survey
A survey that fixes and marks the exact limits of a plot on the ground, checking them against the title papers and revenue maps. It shows encroachment, gaps and overlaps with neighbours.
Example: A boundary survey in Zirakpur showed that a neighbour's wall stood a foot inside the buyer's plot.
Agent tip: Insist on an on-ground boundary survey with the neighbours present before buying land or paying the final instalment.
Related: Demarcation Mojani Shajra
A wall around the perimeter of a plot or project. Its position should match the legal boundary.
Example: A boundary wall built 1 foot over the neighbour's land leads to a dispute.
Agent tip: Verify the wall position through demarcation.
Related: Demarcation Plot Area
The point at which rental income covers all ownership costs such as EMI, maintenance and taxes.
Example: With monthly costs of ₹55,000 and rent of ₹30,000, the investor needs more rent or a lower EMI to break even.
Agent tip: Include vacancy months in your break-even calculation.
Also called: Gap Loan
A short-term loan taken to cover a gap, for example when a person must pay for a new home before selling the old one. It is usually repaid in full from the sale proceeds and carries a higher rate than a normal home loan.
Example: Rajesh pays the booking amount on a new flat in Panchkula using a bridge loan, planning to repay it when his old apartment sells.
Agent tip: Warn clients that if the sale of the old home is delayed, they pay costly interest. Ask for a realistic repayment window.
Related: Home Loan Booking Amount Tenure
The civic body of Mumbai that sanctions building plans in the city, issues commencement and occupancy certificates, collects property tax and runs services. It is also called the Municipal Corporation of Greater Mumbai.
Example: A Mumbai buyer checks the corporation's records for the occupancy certificate of an older building.
Agent tip: In Mumbai, verify the building's plan approvals and occupancy status with the corporation.
Related: Municipal Corporation Occupancy Certificate (OC) MahaRERA
Small print in a brochure saying images, plans, specifications and dimensions are indicative and subject to change. Promoters cannot use disclaimers to avoid the details they have registered under RERA or false claims they have made.
Example: A brochure disclaimer says the plan is not to scale, but the registered plan fixes the actual area.
Agent tip: Read the disclaimer and compare brochure details with the RERA-registered plan.
Related: Artist's Impression Section 12 (RERA) Specifications
A general term for an intermediary who brings buyers and sellers together for a commission. Under RERA, a broker who deals in projects covered by the Act is a real estate agent and must register.
Example: A local broker who sells resale flats in an old society may not need RERA registration, while one who sells in a registered project does.
Agent tip: Use the word agent for professional communication, and explain the RERA rules to clients.
Related: Real Estate Agent Channel Partner Brokerage
The fee or commission an agent charges for facilitating a sale, purchase or lease. It may be a percentage of the value or a fixed amount.
Example: A resale deal earns 1% brokerage from each side, while a new project pays 2% from the developer.
Agent tip: Agree the brokerage in writing. Verbal promises are the most common source of payment disputes.
Related: Commission Slab Channel Partner Referral Fee
Also called: Agent Mandate, Mandate Letter
A written contract between an agent and a client stating the work, the commission rate or amount, when it becomes payable, how long the arrangement lasts and whether it is exclusive. It avoids later arguments about who earned the fee.
Example: A Zirakpur agent signs a three-month agreement with an owner to sell a flat, with 1% brokerage payable on registration.
Agent tip: Get it signed before showing the property. Put the payout trigger in writing, such as sale deed registration.
Related: Brokerage Exclusive Mandate Commission Dispute
A project built on land that was used before, such as an old factory, mill or buildings. It may need clean-up and clearances.
Example: A developer redevelops a closed mill site into apartments and offices.
Agent tip: Check for environmental clearances and old claims on the site.
Related: Greenfield Project Redevelopment
An independent floor in a low-rise building of typically three to four storeys, sold separately with a proportionate share of land. It is common in Delhi NCR and the Chandigarh Tricity.
Example: A three-storey builder floor on a 250 gaj plot has one family on each floor, with a shared staircase and common land.
Agent tip: Check whether the project is large enough to need RERA registration. Smaller builder floors often are not, so confirm the status.
Related: Apartment Undivided Share of Land (UDS) Plot
Also called: BBA
The common name for the agreement for sale between a developer and a homebuyer. Under RERA it must follow the format prescribed by the state.
Example: A buyer finds that the builder's old agreement lets him cancel with 20% forfeiture, while the RERA format limits one-sided clauses.
Agent tip: If a buyer is offered an agreement that differs from the state's prescribed format, flag it before signing.
Related: Agreement for Sale Allottee Promoter
Also called: Building Regulations, Building Code
Local rules framed by a municipality or development authority that control how buildings are designed and built: plot coverage, height, setbacks, parking, fire safety and light and ventilation. Every approved plan must follow them.
Example: A plot owner in Panchkula found the bye-laws did not allow a stilt floor to be converted into a living space.
Agent tip: Read the bye-laws of the specific authority before promising any extra floor or room to a buyer. Rules differ from city to city.
Related: Development Control Regulations (DCR) Setback Sanctioned Plan
The line, set by the authority, beyond which a building cannot extend toward a road. It is measured from the road edge or centre line and keeps space for future widening, light and air.
Example: A shop owner in Mohali had to cut back a front extension because it crossed the building line fixed along the road.
Agent tip: Check whether a road-widening plan changes the building line of a plot before you buy. It can shrink the buildable area.
Related: Setback Right of Way (ROW) Frontage
Also called: Building Permit, Plan Sanction
Formal permission from the local authority to construct a building as per submitted drawings. It confirms the plan follows zoning, bye-laws and safety norms. Building work should start only after this approval and a commencement certificate.
Example: A farmhouse owner in Kharar submitted drawings online and received the sanction after the authority's scrutiny and fee payment.
Agent tip: Always ask for the sanctioned plan itself, not only the receipt. Compare the approved floors and area with what is being sold.
Related: Sanctioned Plan Commencement Certificate Online Building Plan Approval System (OBPS)
A building constructed or fitted out to a tenant's specifications, usually under a long lease.
Example: A retailer asks a developer to build a warehouse to its design and leases it for 15 years.
Agent tip: Check the exit terms in case the tenant leaves early.
Related: Lease Deed Warehouse
Carpet area plus the thickness of external walls and the exclusive balcony, verandah and open terrace. It is larger than carpet area and is the area the unit actually covers on the floor plate.
Example: A flat has 900 sq ft carpet area, 60 sq ft of wall thickness and a 40 sq ft balcony. The built-up area is 1,000 sq ft.
Agent tip: Built-up area is a convenient industry number but it is not the RERA price basis. If a brochure leads with built-up area, ask for the carpet figure.
Related: Carpet Area Super Built-Up Area Plinth Area
Also called: Bangla
A large independent house, usually one or two floors, standing on its own plot with a garden or open space around it. In many Indian cities the word is used loosely for any big detached home, often with a name board and a boundary wall.
Example: A retired couple in Pune sell their old bungalow on a 1,500 sq yard plot to a builder for redevelopment into apartments.
Agent tip: Large bungalow plots in old cities often have special land-use or heritage conditions. Check them before pitching redevelopment.
Related: Independent House Villa Redevelopment
A low-rise campus of offices, light industrial units and support services in landscaped surroundings, usually on city outskirts. It suits companies that want lower rents, more parking and room to grow than downtown towers offer.
Example: A pharma marketing firm takes a floor in a business park near Zirakpur for cheaper rent and plenty of parking.
Agent tip: Check public transport and staff commute. Outer parks can lose tenants if reaching them is hard.
Related: IT Park Office Space Commercial Property
In everyday use, a person who buys property. Under RERA the formal term is allottee.
Example: A buyer is an allottee once the promoter allots a unit.
Agent tip: Use the term allottee in complaints and legal documents.
An agent who works mainly for the buyer, helping search, check and negotiate, usually paid by the buyer or by agreement. In India most agents are paid by the developer or seller, so buyers should know who the agent is working for.
Example: A buyer from abroad hires an agent to find, check and negotiate a Panchkula flat, paying a fixed fee.
Agent tip: Tell clients clearly whose commission you receive. Honest disclosure builds trust.
Related: Real Estate Agent Conflict of Interest Brokerage Agreement
Also called: Village Map, Field Map
A map that shows land parcels with their boundaries and identifying numbers, used by the revenue department to record ownership. The village map shown by the patwari is a typical example.
Example: A buyer in Haryana used a cadastral map to see how a field fitted between neighbouring parcels.
Agent tip: Match the plot number on the cadastral map with the number in the sale papers before paying.
Related: Shajra Survey Number Khasra Number
Also called: Resurvey, Digital Survey, Land Survey
A detailed ground survey that measures and maps each land parcel and its boundaries for the purpose of records and revenue. Resurvey is done again when boundaries or numbers need updating, and now often uses drones and satellite data.
Example: A resurvey in a Kerala village merges two old survey numbers and splits a third, so a seller's deed refers to numbers that no longer exist.
Agent tip: After any resurvey, ask for the old-to-new conversion statement. Otherwise a deed may not match the revised record.
Related: Survey Number Bhu Naksha (Cadastral Map) Demarcation NAKSHA Programme
Common Area Maintenance charges: a monthly fee in commercial and residential complexes for upkeep of shared areas such as lobbies, lifts, security and gardens.
Example: A tenant in an office tower pays rent plus CAM at ₹6 per sq ft per month.
Agent tip: Check whether CAM is on carpet or super area, and how it may rise.
Related: Society Charges Office Space
A sum a developer deducts when a buyer cancels a booking. Under RERA, one-sided or unreasonable forfeiture clauses can be challenged.
Example: A builder's old agreement forfeits 20% on cancellation. A buyer challenges it as unfair.
Agent tip: Read the cancellation clause before the booking amount is paid and compare it with the state's format.
Related: Liquidated Damages Booking Amount Agreement for Sale
A document used to cancel an earlier registered instrument. A party generally cannot cancel a registered sale deed alone, and a court order may be needed if the other side does not agree.
Example: A buyer and seller mutually cancel a registered agreement through a cancellation deed and refund.
Agent tip: Warn clients that a unilateral cancellation is unsafe. Registered deeds are not cancelled by a notice.
Related: Sale Deed Registration (Property)
A structural element, such as a balcony slab, that projects from a building without direct support at its outer end.
Example: Cantilevered balconies project from the main slab of the tower.
Agent tip: Do not allow additions or heavy loads on cantilevered balconies.
Related: Balcony Area Slab
A civic body that governs a military cantonment area. It sanctions building plans, levies property tax and runs local services under the cantonment law, and land there is often defence land with special restrictions on construction and sale.
Example: A buyer in a cantonment area is told that building plans need the board's approval and the land has restrictions.
Agent tip: Check land status and transfer restrictions in cantonment areas before buying. Ordinary city rules may not apply.
The increase in the value of a property over time from location growth, infrastructure, demand and inflation.
Example: A plot bought for ₹30 lakh now sells for ₹45 lakh, a gain of ₹15 lakh.
Agent tip: Never promise appreciation. Show past data and explain the risks.
Related: Rental Yield Capital Gains
The profit on sale of a property, equal to sale price minus the cost of acquisition, improvement and expenses of transfer. It is taxed as short-term or long-term depending on how long the property was held.
Legal basis: Income-tax Act, 1961 for transfers up to 31 March 2026, and the Income-tax Act, 2025 from 1 April 2026.
Example: A plot bought for ₹40 lakh and sold for ₹70 lakh after four years leaves a long-term capital gain before costs.
Agent tip: Do not give tax advice. Explain the concepts and refer clients to a chartered accountant.
Related: Long-Term Capital Gains Short-Term Capital Gains Indexation
A special bank account in which a seller can deposit unused capital gains before the tax return due date, to claim exemption under Sections 54 and 54F while a new house is purchased or built.
Example: A seller deposits ₹40 lakh in the scheme because the new flat is not ready before the return is due.
Agent tip: Unused money not spent in the time allowed becomes taxable.
Also called: Section 45(5A), JDA Capital Gains
A tax rule for landowners who give land to a developer under a joint development agreement for a share of built flats. For individuals and HUFs, the gain is generally taxed in the year the completion certificate is issued, not when the agreement is signed.
Legal basis: Section 45(5A) of the Income-tax Act, 1961; the 2025 Act continues it under a new number.
Example: Landowner Gulzar signs a development agreement in 2023, and tax on his capital gain falls in the year the developer gets the completion certificate.
Agent tip: Check the conditions in the section with a CA before signing, since not every JDA qualifies.
Related: Joint Development Agreement (JDA) Capital Gains Completion Certificate (CC)
Also called: Set-off and Carry Forward of Capital Loss
The rule for using a loss from selling an asset against capital gains. A long-term loss can be set off only against long-term gains, a short-term loss against any capital gains, and unused losses can be carried forward for eight years if the return was filed on time.
Example: Imran sells a plot at a long-term loss and then sells another at a long-term gain in the same year, so he can reduce the gain by the loss.
Agent tip: Tell clients to file the return on time. Late filing can lose the right to carry the loss forward.
Related: Capital Gains Long-Term Capital Gains Short-Term Capital Gains
Also called: Capital Value Based Property Tax
A way to calculate property tax based on the market value or capital value of the property, using the ready reckoner rate and applying a tax rate. Mumbai's municipal corporation moved to this system in 2010.
Example: A flat owner in Mumbai pays property tax calculated from the reckoner rate, the area, the age of the building and the use.
Agent tip: When the ready reckoner rate rises, property tax can rise as well. Check the annual rate update.
Related: Property Tax Ready Reckoner Rate Unit Area Value (UAV) System
The net operating income of a property divided by its price. Investors use it to compare income properties.
Example: A shop earning ₹9 lakh NOI and priced at ₹1.2 crore has a cap rate of 7.5%.
Agent tip: A higher cap rate means more income per rupee, but may signal more risk.
Related: Net Operating Income (NOI) Rental Yield
The net usable floor area inside an apartment, measured wall to wall. It includes the thickness of internal partition walls but excludes the external walls, service shafts, the exclusive balcony or verandah and the exclusive open terrace.
Legal basis: Section 2(k) of the RERA Act, 2016. Promoters must advertise and sell on carpet area, not super area.
Example: Mr. Dhillon is offered a 3 BHK at "1,850 sq ft" in Zirakpur. The RERA registration page shows a carpet area of 1,120 sq ft, so the true usable space is far smaller than the headline number.
Agent tip: Always quote carpet area first. Ask for the RERA-registered carpet area figure and compare it with the agreement for sale before you discuss price.
Related: Super Built-Up Area Built-Up Area Loading Factor Balcony Area
Also called: Efficiency Ratio
The share of the sold area that is actually usable carpet area. A lower ratio means the buyer pays for more common and wall area. Buyers compare it across projects to see how much of the price buys usable space.
Example: Two 1,000 sq ft saleable flats have 700 and 620 sq ft carpet area, and the first has the better ratio.
Agent tip: Ask for both areas and compare ratios. A lower price per sq ft can hide a worse ratio.
Related: Carpet Area Super Built-Up Area Loading Factor
Also called: Cash Yield on Equity
The yearly cash income from a property divided by the cash the investor actually put in. It is useful when a loan is used, because it measures return only on the investor's own money, after loan payments.
Example: Divya invests ₹30 lakh of her own money in a Mohali shop, receives ₹2.4 lakh a year after paying the loan EMI, and earns an 8% cash-on-cash return.
Agent tip: Include all costs, such as repairs, maintenance and vacancies, when you calculate it. Ignoring them makes the figure look better than it is.
A notice filed in court by a person who expects an application against them, asking the court to hear them before passing any order.
Legal basis: Section 148A of the Civil Procedure Code, 1908.
Example: A buyer fears the seller will get an ex parte stay and files a caveat.
Agent tip: A caveat gives a short advance notice of cases. Ask a lawyer.
Related: Civil Court Injunction
A land unit common in Kerala, Tamil Nadu, Karnataka and Andhra Pradesh. One cent is one hundredth of an acre, or 435.6 sq ft. In Bihar, Jharkhand and Odisha the same value is called a decimal.
Example: A 5 cent plot in Kochi is 2,178 sq ft.
Agent tip: South Indian buyers think in cents or grounds. Quote both the local unit and square feet.
Related: Ground (Tamil Nadu) Decimal Acre
A body the Central Government may set up under the Act to advise on putting it into effect, on major policy questions and on consumer protection. It is chaired by the Union Housing Minister and includes government, regulator and industry representatives.
Legal basis: Sections 41 and 42 of the RERA Act, 2016.
Example: The Council reviews how states are applying the Act and recommends that rules on project disclosure be made uniform.
Agent tip: It advises the Centre and has no power to decide individual complaints. For a dispute, go to the state Authority.
Related: MoHUA RERA RERA Rules
The central body that regulates groundwater extraction. Projects needing borewell water in notified areas may need its no-objection certificate, and rules vary by area.
Example: A developer in a water-stressed area applies for a groundwater NOC for a large project.
Agent tip: Check the water source of a large project. Reliance on groundwater can be a risk in water-stressed areas.
Related: No Objection Certificate (NOC) Rainwater Harvesting Environmental Clearance
The national technical body on air and water pollution under the environment ministry. It sets standards and guidelines that state pollution control boards apply when giving consent to developments, such as for sewage treatment and dust control.
Example: A large project in Mohali must meet sewage and dust norms and the state board applies CPCB guidelines.
Agent tip: Large projects need environmental and pollution board approvals. Ask which ones apply.
Related: State Pollution Control Board (SPCB) Environmental Clearance Sewage Treatment Plant (STP)
The Central Registry of Securitisation Asset Reconstruction and Security Interest of India, an online register where lenders record their mortgages and charges. Buyers can search it to see if a property is mortgaged.
Example: A buyer searches CERSAI before paying a token amount and finds an existing bank charge on the flat.
Agent tip: Add a CERSAI search to your due diligence checklist.
Related: Mortgage Lien Due Diligence
A certificate that MahaRERA requires real estate agents to hold after completing training and passing an exam. It applies to new registrations and renewals in Maharashtra.
Example: A Mumbai agent completes the training and uploads the certificate to renew the registration.
Agent tip: Check MahaRERA's current rules before you advise a Maharashtra agent, as the procedure has been revised.
Related: MahaRERA RERA Agent Registration
Also called: Certified True Copy, Nakal
A copy of a registered document or a public record that is issued by the office holding it, such as the sub-registrar, and bears a seal and certification. It is accepted as proof when the original is lost or kept elsewhere.
Example: A buyer in Indore does not have the old deed, so he applies for a certified copy from the registrar's office for the seller's earlier purchase.
Agent tip: A photocopy is not enough. For the earlier deeds in a chain, ask for certified copies from the registrar.
Related: Sub-Registrar Link Documents Registration (Property) Index II
The Chhattisgarh Real Estate Regulatory Authority, which regulates projects and agents in Chhattisgarh, including Raipur.
Example: A Raipur buyer checks the project on the CGRERA portal.
Agent tip: Mutation in Chhattisgarh is called namantaran.
Related: RERA Authority Namantaran
Also called: Gunter's Chain
An old surveying unit of length, 66 feet, used by revenue surveyors and still present in some land records and field maps. The English acre is defined as ten square chains.
Example: An old village map near Karnal showed field boundaries in chains and links, which the surveyor converted into metres.
Agent tip: When working with old maps, convert chain measures with care. A small error over a long boundary becomes a large one.
Related: Acre Shajra Survey Number
A body of the Chandigarh Administration that builds and allots flats and other properties in Chandigarh.
Example: A buyer takes a resale CHB flat in a Chandigarh sector.
Agent tip: Resale of CHB properties has transfer rules and charges.
Related: Development Authority Leasehold Property
Also called: Land Use Change, CLU
Permission from the state government or competent authority to change the use of land, for example from agricultural to residential or commercial. It usually involves charges.
Example: A buyer buys agricultural land and builds houses without CLU. The authority treats them as unauthorized.
Agent tip: Ask for the CLU order and fee receipt. In some states this process is called NA conversion.
Related: NA (Non-Agricultural) Order Agricultural Land Master Plan
A real estate agent or firm appointed by a developer to market and sell units in its project, usually for a commission and under a written agreement.
Example: A Chandigarh Tricity firm becomes a channel partner for a builder and earns 2% on each sale.
Agent tip: Sign a written channel partner agreement that states the commission, payout time and exclusivity.
Related: Real Estate Agent Brokerage Commission Slab
The contract between a developer and a channel partner setting commission, payout timing, lead registration, marketing rules, cancellation and dispute terms. It controls the relationship far more than a verbal promise.
Example: An agreement says commission is paid within 30 days after each instalment from the buyer, but not before.
Agent tip: Read payout timing, clawback and exclusivity clauses before signing. Keep a signed copy.
Related: Channel Partner Commission Slab Commission Clawback Lead Registration
Also called: Channel Partner Onboarding
The process by which a developer approves an agent or firm to sell its project. The developer checks the RERA registration, identity and track record and then lists the agent as authorised.
Example: A Mohali agent submits her RERA certificate, PAN and bank details and receives an empanelment email from the developer.
Agent tip: Insist on empanelment in writing before you start advertising the project.
Related: Channel Partner RERA Agent Registration Channel Partner Agreement
A claim on a property that secures payment of a sum without transferring ownership or possession, created by law or by an act of the parties. It sticks to the property, and a buyer with notice takes it subject to the charge.
Legal basis: Transfer of Property Act, 1882, Section 100.
Example: A will in Indore says a house is charged with paying monthly maintenance to the testator's sister. The buyer of the house takes it subject to this payment.
Agent tip: Check for charges in the title documents, not only in the lender's papers. An old will or decree may impose one.
Related: Encumbrance Lien Mortgage Title Search
A small traditional land unit in Bengal and eastern India, a sixteenth part of a katha, used for house plots and homestead land in cities and villages.
Example: A plot in a Kolkata suburb was sold as two kathas and a few chataks.
Agent tip: Local units differ even within a state. Ask for the plot area in square feet for the sale agreement.
Related: Katha Biswa Square Foot
A traditional tenement building in Mumbai with small rooms along a shared corridor. Many have been redeveloped under government schemes.
Example: A tenant in a South Mumbai chawl receives a flat in the new tower after redevelopment.
Agent tip: Redevelopment depends on tenant consent and approvals. Check the agreements and the developer's record.
Also called: BNS 318, IPC 420, Dhokhadhadi
The offence of dishonestly deceiving someone so as to make them part with money or property, which is covered by section 318 of the Bharatiya Nyaya Sanhita, replacing IPC section 420. Examples include selling the same plot twice or selling land the seller does not own.
Legal basis: Bharatiya Nyaya Sanhita, 2023, Section 318 (earlier IPC Section 420).
Example: A dealer in Kharar sells the same plot to two buyers and takes the money from both. The second buyer files a complaint for cheating.
Agent tip: Document every promise and payment. A complaint with a clear paper trail has a better chance than a verbal one.
Related: Title Forgery of Property Documents (BNS) Mis-selling Civil Court
Also called: Section 138 NI Act, Cheque Dishonour
An offence under the Negotiable Instruments Act when a cheque given to discharge a debt is returned unpaid for insufficient funds or similar reasons, and the drawer fails to pay after notice. It is often used in property payments.
Legal basis: Negotiable Instruments Act, 1881, Section 138.
Example: A buyer pays Rs 10 lakh by cheque to a seller in Mohali, and it bounces. The seller sends a legal notice demanding payment within the statutory period.
Agent tip: Pay by bank transfer where possible. If a cheque bounces, act on the notice timeline, as missing it can end the remedy.
Related: Legal Notice Earnest Money Civil Court Booking Amount
A Tamil Nadu land record that shows land classification, extent and ownership details, usually looked up together with the patta.
Example: A buyer checks the patta and chitta on the state's online portal before buying.
Agent tip: A mismatch between chitta, patta and deed is a reason to delay purchase.
Related: Patta Revenue Record
The City and Industrial Development Corporation of Maharashtra, which planned and developed Navi Mumbai and other new towns. Land is often given on lease.
Example: A Navi Mumbai plot is bought on CIDCO lease terms.
Agent tip: Check the lease conditions and the conversion to freehold policy.
Related: Leasehold Property Development Authority
Also called: Guideline Value, Collector Rate
The minimum value per unit area fixed by the state government for property in an area, used to calculate stamp duty. Other names are guideline value, guidance value, collector rate, ready reckoner rate and jantri.
Example: A flat sells for ₹70 lakh, but the circle rate value is ₹85 lakh. Stamp duty may be charged on the higher figure in states that follow the circle rate.
Agent tip: Check the circle rate before negotiating. Registering below it can lead to extra duty and a tax issue in the buyer's hands.
Related: Stamp Duty Value Ready Reckoner Rate Guidance Value Jantri
A court that decides disputes about property, contracts and money. Property suits for title and possession are filed here.
Example: A buyer files a civil suit for a declaration of title and an injunction.
Agent tip: Civil suits can take years, so settlement is often wiser.
Related: Injunction Lis Pendens
The final stage of a sale in which price, payment plan and terms are agreed, documents signed, money paid and ownership transferred. The agent coordinates between parties and checks nothing is missing.
Example: After the buyer pays the booking amount, the agent tracks the agreement, loan approval and registry date week by week.
Agent tip: Maintain a closing checklist and send reminders. Many deals fail from lost documents, not from price.
Related: Sale Deed Registry Day Booking Amount After-Sales Service
A one-time or periodic charge for using a project's clubhouse and sports facilities. Some projects include it in the price while others charge it separately, sometimes at possession. It is an important add-on in the final cost.
Example: A buyer notes that the cost sheet shows a separate club charge, due at possession.
Agent tip: Ask whether the fee is optional, refundable or transferable on resale.
The Chennai Metropolitan Development Authority, which prepares the master plan and approves buildings in the Chennai region.
Example: A Chennai builder applies to the CMDA for planning permission.
Agent tip: Check CMDA approval for projects in the region.
Related: Development Authority Master Plan
Areas along the coast where construction is restricted or regulated under the Coastal Regulation Zone Notification, 2019, to protect the shoreline.
Example: A buyer of a sea-facing plot finds that building is limited because it falls in a CRZ.
Agent tip: Check CRZ status for coastal properties before quoting.
A person who takes the loan jointly with the main borrower and shares responsibility for repayment. Each is liable for the full loan.
Example: A husband and wife take a home loan together and both claim eligible tax deductions.
Agent tip: Co-borrowers can raise loan eligibility. They need not be co-owners, but banks often prefer it.
Related: Home Loan Joint Ownership
An arrangement in which two agents share the commission on a deal, one with the listing and the other with the buyer.
Example: A Mohali agent has a buyer and a Zirakpur agent has the flat. They split the brokerage equally.
Agent tip: Put the split in writing before the site visit.
Related: Brokerage Sub-Broker
An industrial city in western Tamil Nadu known for textile, pump and engineering industries, and educational institutions. Its property market includes plotted layouts and apartments towards Saravanampatti and Singanallur.
Example: A mill owner's son buys a DTCP-approved plot near Saravanampatti for a future home.
Agent tip: In Tamil Nadu, ask for DTCP or local planning authority approval for plots (CMDA applies only in the Chennai area), and confirm the patta and sub-division status.
Related: DTCP Patta TNRERA Plotted Development
Phoning people who have not asked for contact to offer property. Results are low, and rules on unsolicited calls, such as the Do Not Disturb registry, may apply. Many agents now prefer referrals and permission-based messages.
Example: An agent calls numbers from a purchased list and gets complaints from people registered on the Do Not Disturb list.
Agent tip: Check telecom rules on commercial calls and messages. Use warm contacts and referrals first.
Related: Lead Generation Lead Advertising Compliance
A warehouse with temperature control for fruit, vegetables, dairy, medicines and frozen food. It needs insulation, refrigeration plant, reliable power and approvals for food safety and fire. Rent depends on capacity in tonnes or pallets, not only area.
Example: A farmer producer company in Punjab leases a cold storage unit near Mohali to store potatoes through the off-season.
Agent tip: Verify power sanction and backup, since unreliable power can destroy stock and lead to disputes with the owner.
Related: Warehouse Logistics Park Industrial Plot
A shared home or building where residents rent a private or shared bedroom and use common kitchens, lounges and services under one operator. It is aimed at young professionals and students and is billed as one monthly package.
Example: A Bengaluru operator leases an old apartment block, refits it into 60 beds and rents each bed with Wi-Fi and housekeeping included.
Agent tip: Ask the operator how the lease with the owner is structured, since many co-living businesses sublet properties they do not own.
Related: Student Housing Paying Guest (PG) Accommodation Serviced Apartment
A pooled investment arrangement in which money from many people is managed by another party for returns. Schemes that are not registered with SEBI are illegal.
Example: A company sells "fractions" of land to the public and promises returns without SEBI registration.
Agent tip: Warn clients about schemes that pool money for land or flats and promise fixed returns.
Related: Land Banking Assured Return
A planned residential or commercial development of multiple plots or buildings. Authorities distinguish approved colonies, which follow the layout rules, from unapproved or illegal colonies.
Example: A buyer chooses a plot in an approved colony in Mohali, not in an illegal colony outside the approved area.
Agent tip: Always ask for the colony's approval order.
Related: Approved Layout Colony Licence Regularisation
A licence from the town planning department to develop a residential or commercial colony. In Haryana it is issued by the Director, Town and Country Planning (DTCP) under state law.
Legal basis: Haryana Development and Regulation of Urban Areas Act, 1975.
Example: A Haryana developer applies for a licence to develop a 15 acre colony and pays external development charges.
Agent tip: Verify the licence number and its validity on the DTCP site.
Related: DTCP External Development Charges (EDC) Approved Layout
A vertical structural member that carries the building's load down to the foundation.
Example: A tower has columns in each floor that pass the load down to the piles.
Agent tip: Do not allow owners to remove or alter columns during interiors.
Permission from the local authority to start construction after plan approval. Many state RERA rules ask for it at registration.
Legal basis: State RERA rules ask the promoter to file the project's sanctions, including the commencement certificate, with the registration application.
Example: A builder begins digging before getting the commencement certificate. The authority issues a stop-work notice.
Agent tip: Ask to see the certificate and its date. A project with no commencement certificate is not ready for sale.
Related: Sanctioned Plan RERA Registration Number Occupancy Certificate (OC)
Also called: Vyavsayik Plot
A parcel of land set apart in the master plan or layout for shops, offices, showrooms or similar business use. The authority usually imposes its own rules on coverage, parking and permitted activities, and these differ from residential plots.
Example: A developer buys a commercial plot facing a 60-foot road in Panchkula to build a showroom block with basement parking.
Agent tip: Ask for the authority's permitted-use list. Not every commercial plot allows every kind of business.
Related: Plot Zoning (Land Use Zone) Commercial Property Master Plan
Property used for business: shops, offices, showrooms, warehouses and hospitality units. It is valued on rental income and location, and it follows different tax rules from residential property.
Example: A ground-floor shop in a busy market earns a higher rent per sq ft than a first-floor office.
Agent tip: Check permitted use in the approvals. A residential flat cannot be run as an office without permission.
Related: Shop Office Space Rental Yield
A term in some channel partner or developer agreements by which commission already paid must be returned if the buyer cancels, the booking lapses or the sale is not completed. The terms say within what period and in what cases.
Example: A buyer cancels two months after booking and the developer asks the agent to return the commission already paid.
Agent tip: Read clawback conditions before signing and keep your records of the cancellation reasons. It is the term most agents overlook.
Related: Channel Partner Agreement Cancellation Charges Commission Slab
A disagreement over whether commission is due, how much, or who earned it, such as when two agents bring the same buyer. Most are settled by evidence of introduction, visit records and agreement terms before going to arbitration or court.
Example: Two agents both claim commission on a Panchkula flat sale. The one with the dated site visit form and WhatsApp chat wins.
Agent tip: Keep dated records of introductions, messages and visit forms. They settle most disputes.
Related: Brokerage Agreement Lead Registration Arbitration Clause Mediation
The bill an agent raises on a developer or client for commission earned, giving party details, unit details, amount, taxes if applicable and the agent's registration details. Developers usually pay only against a proper invoice.
Example: An agent in Mohali sends an invoice to the developer after the buyer's registry, attaching the booking form and payment receipts.
Agent tip: Match the unit number, buyer name and date on the invoice with the booking form. Mistakes delay payouts.
Related: Brokerage GST on Brokerage Booking Amount
A tiered commission structure that increases the percentage as an agent's sales volume or value rises.
Example: A developer pays 1.5% on the first three sales, 2% from the fourth to sixth, and 2.5% afterwards.
Agent tip: Read the slab and the date it applies from. Cancelled bookings may reverse the commission.
Related: Brokerage Channel Partner
The parts of a project shared by all owners: lobby, staircases, lifts, corridors, terrace, garden, club house, parking driveways and services. Owners hold them jointly and they cannot be sold separately.
Legal basis: Defined in Section 2(n) of the RERA Act, 2016.
Example: The society's swimming pool and gym belong to every flat owner in proportion to their share. The builder cannot sell the pool as a private unit.
Agent tip: Check what the builder lists as common area in the agreement. Anything promised in the brochure should appear there.
Related: Super Built-Up Area Loading Factor Amenities
Recent sale prices of similar properties nearby, used to estimate the value of a property.
Example: Three 3 BHK flats of similar size in the same tower sold at ₹82 to ₹86 lakh in the last six months.
Agent tip: Keep a record of recent comps for your micro-market.
Related: Market Value Valuation Report
Also called: CMA
A report comparing a property with recently sold or listed similar properties nearby to suggest a fair price range. Agents use it to guide sellers on listing price and buyers on offers. It is an opinion, not a formal valuation.
Example: To price a flat in Sector 20, the agent compares four similar flats sold in the last six months.
Agent tip: Use only recent, truly similar properties. State clearly that a CMA is not a valuation report.
Related: Comparable Sales (Comps) Valuation Report Market Value
The body that can approve plans, issue commencement and completion certificates, such as a development authority or municipal corporation. RERA registration does not replace these approvals, and the competent authority's sanctions must be valid.
Legal basis: Defined in Section 2 of the RERA Act, 2016.
Example: A promoter shows a RERA number but the plan sanction is from the wrong body. The buyer finds the gap by asking for the approvals list.
Agent tip: Check both RERA registration and the plan sanction from the proper local authority.
Related: Development Authority Sanctioned Plan Completion Certificate (CC)
The Centre's model rules prescribe forms for complaints: one for the Authority and one for the adjudicating officer, which deals with compensation. Many states have their own forms or online filing, so use the state portal.
Legal basis: Rules made under the RERA Act, 2016; form letters follow the Central model rules.
Example: A Mohali buyer files a refund complaint on the portal, and a second compensation complaint goes to the adjudicating officer.
Agent tip: File the right form with the right body. A refund and interest claim and a compensation claim may go to different forums.
A certificate from the local authority confirming that a building has been completed as per the sanctioned plan. In some states the CC and the OC are issued as one.
Legal basis: Defined in Section 2(q) of the RERA Act, 2016.
Example: A builder hands over flats but has no completion certificate. The society cannot get permanent water and electricity.
Agent tip: Ask whether the state issues a CC, an OC or both, and check which one the project has.
Related: Occupancy Certificate (OC) Sanctioned Plan Part Occupancy Certificate
Also called: Plot-cum-Construction Loan
A single loan covering both the purchase of a plot and the construction of a house on it. The money is released in parts, with the land cost first and construction instalments after, so the borrower does not need two separate loans.
Example: Meenu buys a plot in Kharar and borrows one composite loan, with the first release to the seller and the later ones as the walls and roof come up.
Agent tip: Check the time limit for finishing construction and what happens to interest if the work is late.
Related: Plot Loan Home Construction Loan Pre-EMI
The Tribunal has a Chairperson and at least two whole-time Members, one judicial and one technical or administrative. The Chairperson must be a sitting or former High Court Judge, and the other members are chosen by a selection committee with the High Court Chief Justice.
Legal basis: Sections 45 and 46 of the RERA Act, 2016.
Example: A state sets up a three-member Tribunal led by a retired High Court judge, with a former district judge and a retired housing official.
Agent tip: The Tribunal is a higher forum than the Authority. Complex or high-value disputes are better argued with an advocate.
Related: RERA Appellate Tribunal Section 53 (RERA) Section 56 (RERA)
A state or Union Territory Authority has a Chairperson and at least two whole-time Members, chosen by the government on the recommendation of a Selection Committee. The Act sets minimum experience of 20 years for the Chairperson and 15 years for Members.
Legal basis: Sections 20 to 22 of the RERA Act, 2016.
Example: A state notifies a three-member Authority, with a former housing secretary as Chairperson and two other experienced members. All three sit on complaints.
Agent tip: Orders can differ in tone between authorities because members differ. Read recent orders on the state portal before predicting how your complaint will fare.
Related: RERA Authority Term and Removal of Authority Members (Sections 23 and 26) Section 31 (RERA)
Also called: CAGR
The smoothed yearly rate at which an investment grew between two dates, as if it had grown by the same percentage each year. It lets you compare a property's growth with other investments over different periods.
Example: A plot bought for ₹40 lakh and sold for ₹64 lakh after five years grew at a compound rate of about 10% a year.
Agent tip: Use it for fair comparison, but remember that it ignores rent earned and costs of holding.
Related: Capital Appreciation Return on Investment (ROI) Internal Rate of Return (IRR)
A procedure by which authorities allow minor violations of the building rules to stay, on payment of a fee.
Example: A homeowner pays a compounding fee to retain a 4 sq m excess balcony.
Agent tip: Only minor deviations can be compounded. Major deviations may need demolition.
Related: Regularisation Unauthorized Construction
Electrical wiring laid inside conduits buried within walls and ceilings before plastering, with only switches and sockets visible. It looks neat and is safer than open wiring, but repairs mean opening the wall.
Example: When a Zirakpur buyer asked for the wiring layout, the builder showed marked drawings of conduit routes so future drilling could avoid them.
Agent tip: Ask for as-built electrical drawings at possession. They help avoid drilling into live wires.
Related: MEP (Mechanical, Electrical and Plumbing) Electricity Connection Specifications
A situation where the agent's own gain could affect fair advice to a client, such as acting for both sides, owning a unit in the project being sold or receiving extra payments for pushing one property. It should be disclosed.
Example: An agent who owns a plot in a layout recommends it to his client without saying so, which creates a conflict.
Agent tip: Disclose any personal interest in writing and let the client decide.
Also called: CTE, Pollution Board NOC
Permission from the State Pollution Control Board needed before starting construction of certain projects or industries that may cause pollution. It sets conditions for dust, water, waste and emissions during building.
Example: A large township in Haryana applied for the Pollution Board's consent before starting excavation.
Agent tip: Check whether this consent was granted for the project's full built-up area. It is often linked with environmental clearance.
Related: Consent to Operate (CTO) Environmental Clearance Fire NOC
Also called: CTO
Permission from the State Pollution Control Board to run a completed project or industrial unit. It follows the consent to establish and confirms that the sewage treatment and other controls are in place and working.
Example: A completed residential project in Mohali received the board's operating consent after its sewage plant was inspected.
Agent tip: For industrial and large residential projects, ask for the current operating consent. It must be renewed periodically.
Related: Consent to Establish (CTE) Sewage Treatment Plant (STP) Environmental Clearance
Also called: Chakbandi, Chakbandi Records
A government programme that swaps scattered small plots of a farmer to give one or a few compact fields. It is done village by village, with a new map and record, and it is known as chakbandi in north India.
Example: After consolidation in a village near Muzaffarnagar, a farmer's four scattered plots become a single block with a new khasra number. Old sale deeds still mention the old numbers.
Agent tip: In a consolidated village, match the old and new numbers through the consolidation records before checking title.
Related: Fragmentation of Holdings Khasra Number Revenue Record Gata Number
Also called: Builder Finance, Project Loan, Developer Loan
Money lent to a developer to build a project, released in stages as work progresses and repaid from sales proceeds and buyer payments. It is separate from the loans buyers take for their flats.
Example: A Zirakpur developer uses a construction loan for the second tower, and the lender controls the sales collection account to track repayment.
Agent tip: Ask whether the project has a bank-approved loan and whether the lender has lien on unsold flats. Check that the buyer's flat is not mortgaged without the lender's consent.
Related: Escrow Account Tripartite Agreement Moratorium Period
A payment plan in which instalments fall due when construction milestones are reached, such as foundation, slab or finishing.
Example: The buyer pays 10% on plinth completion and another 10% on the 5th floor slab.
Agent tip: Verify the stage before paying. Ask for photographs or an engineer's certificate.
Related: Payment Plan Demand Letter Slab
Also called: Deemed Notice, Notice of Possession
A legal rule that treats a person as knowing a fact even if they do not, when they could have found it with ordinary care. A buyer who skips a look at registered records or the property's possession may be treated as having notice of what was there.
Example: A buyer in Mysuru does not visit the plot, where a tenant has lived for years. A court treats him as aware of the tenant's possession.
Agent tip: Always inspect the site and the registered records. What a visit would have shown, the law may treat you as having known.
Related: Bona Fide Purchaser Lis Pendens Title Search Litigation Check
A forum that hears consumer complaints, including by homebuyers against developers for deficiency of service. The District Commission hears claims up to ₹50 lakh, the State Commission from ₹50 lakh to ₹2 crore, and the National Commission above ₹2 crore, based on the price paid.
Legal basis: Consumer Protection Act, 2019 and the 2021 Rules. Remedies exist alongside RERA.
Example: A buyer who paid ₹80 lakh for a delayed flat files before the State Commission.
Agent tip: Buyers can choose RERA or the Consumer Commission. A lawyer can advise which suits their case.
Related: NCDRC RERA Authority
Also called: CPA 2019, Consumer Act
The law that protects buyers of goods and services, including flat buyers who get a deficient service from a builder. It sets up consumer commissions at district, state and national levels and deals with unfair trade practices and misleading advertisements.
Legal basis: Consumer Protection Act, 2019.
Example: A buyer in Kanpur whose builder delays possession files a complaint in the district commission for refund and interest, under this Act.
Agent tip: Choose a forum with care. A buyer may pursue RERA or the consumer commission, and the pecuniary limit of the commission depends on the amount paid.
Related: Consumer Commission NCDRC Deficiency in Service Adjudicating Officer
A line on a map joining points of equal height above a reference level. Closely spaced lines show steep ground, widely spaced lines show gentle slopes, and engineers use them to plan drainage, roads and cut and fill.
Example: A contour map of a hill-side plot in Solan showed a steep drop, which raised the cost of retaining walls.
Agent tip: Ask for the contour map for any sloping land. It helps estimate development cost before you pay.
Also called: Freehold Conversion Deed
A deed signed with the authority, such as the Delhi Development Authority, that converts leasehold property into freehold on payment of the stated charges. It gives the owner a stronger title and makes the sale and loan easier.
Example: Sunita pays the conversion charges for her old DDA flat in Delhi and gets a registered conversion deed. Her buyer's bank then accepts the flat as freehold.
Agent tip: A conversion letter is not enough. The deed must be registered, and the sub-registrar record should show it.
Related: Leasehold Property Freehold Property Lease Deed Delhi Development Authority (DDA)
The deed by which a promoter or society transfers title in the land and building to the owners. In a RERA project the promoter must complete conveyance within a fixed period after the occupancy certificate.
Legal basis: Section 17 of the RERA Act, 2016: conveyance within three months of the occupancy certificate, where no local law provides otherwise.
Example: After the tower is occupied, the builder must execute the conveyance deed in favour of the society.
Agent tip: Remind the society to follow up. A society that never gets its conveyance cannot deal freely with its land.
Related: Deemed Conveyance Occupancy Certificate (OC) Sale Deed
A society formed by members who pool funds to buy land and build flats, then allot flats to members. It is common in Delhi, Haryana and some other states.
Example: Members of a group housing society wait years for allotment, so the deal needs close checking.
Agent tip: Check the society's registration, member list and the status of the land. Many such schemes have had disputes.
A registered body of flat owners who collectively own and manage a building. Members hold shares in the society, and the society's by-laws govern transfers.
Example: A buyer in a Mumbai society needs the society's NOC and must pay a transfer fee before the flat can be transferred.
Agent tip: For resale in a society, ask for the share certificate, NOC and no-dues certificate.
Related: No Objection Certificate (NOC) Share Certificate Deemed Conveyance
Also called: Coparcener, Mitakshara Coparcenary
A joint Hindu family arrangement in which members born into the family, now including daughters, have an equal right by birth in ancestral property. The family's eldest member usually manages it as karta, and a coparcener can ask for partition.
Example: A family business in Jaipur owns a house as ancestral property. One coparcener sells his share without telling the others, and they challenge it.
Agent tip: For ancestral property, get consent from all coparceners or confirm a prior partition. A sale by one member can be set aside.
Related: Hindu Undivided Family (HUF) Karta Ancestral Property Partition Deed
A plot at the junction of two roads. It usually has better light, access and visibility and commands a premium, but it may need extra setback on both sides.
Example: A corner plot in a gated Kharar sector sells at a 10 to 15% premium over the same size mid-block plot.
Agent tip: Premium is called preferential location charge (PLC) in builder projects. Make sure the buyer knows the exact amount.
Related: Preferential Location Charges (PLC) Frontage Setback
Also called: Sinking Fund
A one-time deposit collected from buyers at the start, held by the society or association and used for major repairs and future needs. A sinking fund is similar but is usually a recurring contribution for planned repairs.
Example: A builder collects ₹100 per sq ft as corpus fund and hands it to the society at takeover.
Agent tip: Ask where the fund is held and whether it will be handed over to the society.
Related: Society Charges Maintenance Agreement
Also called: Replacement Cost Method, Depreciated Replacement Cost
A valuation method that adds the land value to the cost of rebuilding the structure today, less depreciation for age and wear. It is used for new buildings or special properties with few comparable sales.
Example: To value a school building in Kharar, a valuer takes the plot value and adds the cost of building it today, after reducing it for age.
Agent tip: Check how depreciation was calculated, since it drives the value.
Related: Market Value Valuation Report Sales Comparison Approach
Also called: CII
A yearly number published by the government to adjust the purchase cost of an asset for inflation. The base year is 2001-02, set at 100. Indexation using it is now limited, mainly to certain property bought before 23 July 2024 by resident individuals and HUFs.
Legal basis: Notified by the Central Government under the Income-tax Act; indexation for land and buildings was restricted by the Finance (No. 2) Act, 2024.
Example: A plot valued at ₹10 lakh on 1 April 2001 is indexed by the ratio of the sale-year index to 100. With the index at 363 for 2024-25, the indexed cost is ₹36.3 lakh.
Agent tip: Tell sellers of old property to compare tax both ways, with indexation at the higher rate and without it at the lower rate, and pick the lower tax where the law permits.
Related: Indexation Long-Term Capital Gains Fair Market Value as on 1 April 2001
Also called: Purchase Cost, Cost Price
The price paid for a property plus related costs such as stamp duty and registration, used to compute the capital gain on sale. For inherited or gifted property, the previous owner's cost is generally used.
Legal basis: Sections 48 and 49 of the Income-tax Act, 1961 deal with computation and the cost of property received by gift or inheritance; the 2025 Act renumbers them.
Example: Ashok bought a Panchkula plot for ₹30 lakh and paid ₹2 lakh in stamp duty and registration, so his cost base is ₹32 lakh.
Agent tip: Ask clients to keep the old sale deed, payment receipts and stamp duty proofs, since these prove cost.
Related: Capital Gains Cost of Improvement Stamp Duty
Also called: Capital Improvement Cost
The money spent on adding to or improving a property after buying it, such as building an extra floor or major structural work. It can be added to the cost when calculating capital gains. Routine repairs and maintenance do not count.
Example: Naveen spends ₹12 lakh adding a floor to his house, and adds that to his cost before computing the gain on a later sale.
Agent tip: Keep bills, contractor invoices and bank payment records. Without proof the deduction may be refused.
Related: Cost of Acquisition Capital Gains Indexation
A reply to an offer that changes its terms, such as a higher price or later date. Legally the first offer lapses once a counter offer is made, so the original buyer cannot simply accept the first offer later.
Legal basis: Under Section 7 of the Indian Contract Act, 1872 acceptance must be absolute and unqualified, so a changed term is a new proposal.
Example: A buyer offers ₹70 lakh. The seller replies at ₹74 lakh, which is a counter offer and cancels the first.
Agent tip: Record each offer and reply by message or email so the final agreed terms are clear.
Related: Price Negotiation Indian Contract Act, 1872 Offer Letter
In 2020, the Centre and many state regulators treated Covid-19 as a force majeure event and extended registration and completion dates for ongoing projects. The extension period, often several months, was set by each regulator's order and did not erase a promoter's duty to the buyer.
Example: A Kharar project with a June 2020 deadline received a blanket extension from the state Authority, and the registration was updated.
Agent tip: For a delayed project from that period, read the state order. It may affect the interest claim.
Related: Extension of Registration Force Majeure Section 6 (RERA)
A managed shared office where individuals and teams rent desks or small offices on short terms with common amenities.
Example: A start-up rents six desks in a co-working centre on a month-to-month agreement instead of signing a nine-year lease.
Agent tip: Pitch co-working to small firms that want flexibility, and to investors who see an operator-led lease as steady income.
Related: Office Space Serviced Apartment
The Confederation of Real Estate Developers' Associations of India, an industry body of developers. It has city and state chapters.
Example: A city's CREDAI chapter holds a property expo.
Agent tip: Membership is not a guarantee of quality or of RERA compliance.
Also called: CIR, Credit Report
A report from a credit information company that lists a person's loans, credit cards, repayments and enquiries, along with the credit score. Lenders use it to judge risk before sanctioning a home loan, and borrowers can request a free copy once a year.
Example: Before applying, Deepa gets her credit report and finds a closed credit card still showing as open, which she fixes before the bank sees it.
Agent tip: Advise buyers to check their report two or three months before applying. Errors take time to correct.
Related: Credit Score (CIBIL) Home Loan Eligibility NPA (Non-Performing Asset)
An earlier part of PMAY-Urban that gave interest subsidy on home loans to EWS, LIG and MIG buyers. It ended in 2021-22 and has been replaced under PMAY-Urban 2.0 by an interest subsidy scheme.
Example: A buyer who took a loan under CLSS in 2020 received an upfront subsidy.
Agent tip: Do not promise CLSS to new buyers.
Related: Pradhan Mantri Awas Yojana (PMAY) Affordable Housing
A three-digit number, usually 300 to 900, that shows a person's repayment record. Lenders use it to decide approval and interest rate.
Example: A borrower with a score of 780 gets a better rate than one with 650.
Agent tip: Ask clients to check their score before applying and fix errors.
Also called: BNS 329, IPC 441, Trespass
Entering or staying on another's property to commit an offence or to intimidate, insult or annoy the owner or occupier, which is dealt with under the Bharatiya Nyaya Sanhita. It is the criminal side of illegal entry and often arises in land grabbing.
Legal basis: Bharatiya Nyaya Sanhita, 2023, Section 329 (earlier IPC Section 441).
Example: A group breaks the lock of a vacant plot's gate in Zirakpur and starts digging a foundation. The owner files a police complaint for criminal trespass.
Agent tip: Fence and sign vacant plots, and keep photos with dates. In disputes over title, a civil case is often also needed.
Related: Encroachment Eviction Civil Court Injunction
Also called: CPM
A scheduling technique that finds the chain of linked tasks that decides the shortest time to finish a project. A delay in any of those tasks delays the whole project, so they receive the closest attention.
Example: A tower's critical path ran through excavation, raft, structure and facade, so the manager added extra crews for the structure stage.
Agent tip: When a developer says possession is on track, ask what the critical activities are. It shows if they really have a schedule.
Related: Project Management Consultant (PMC) Possession Date Quarterly Update
Customer relationship management software used to track leads, follow-ups, site visits and deals.
Example: An agent uses a CRM to remind her to call a lead three days after a site visit.
Agent tip: Keep your records tidy. They help you resolve disputes about who introduced the client.
Related: Lead Site Visit
City Survey number: the identification number given to urban properties in Maharashtra (also Cadastral Town Survey in some places). It appears on the property card.
Example: A Mumbai deed describes land as "CTS No. 1234, Village Andheri".
Agent tip: Check that the CTS number in the agreement matches the property card.
Related: Property Card Survey Number
Also called: Concrete Cube Test, Compressive Strength Test
A strength test in which sample concrete cubes are cast during a pour, cured, and crushed in a machine at set ages, commonly 7 and 28 days. The results show whether the concrete reached the grade the design required.
Example: Each slab pour at a Mohali project was sampled, and the 28-day cube results were filed with the project engineer.
Agent tip: For a project you are selling, ask the developer for test records. Their existence signals a quality-conscious builder.
Related: Ready-Mix Concrete (RMC) Curing Structural Stability Certificate
Also called: Cum, Cubic Meter
A unit of volume equal to a cube one metre on each side. In construction it measures concrete, earthwork and sand quantities, and water tanks are often sized in cubic metres or in kilolitres.
Example: A basement excavation of a Mohali tower was estimated in cubic metres to price the soil removal.
Agent tip: When comparing contractor quotes for earthwork or concrete, make sure all use the same unit, cubic metres or cubic feet.
The process of keeping fresh concrete or plaster moist for some days after it is placed so it gains strength and does not crack. Poor curing weakens concrete even when the mix itself is good.
Example: In peak summer, a contractor in Jaipur skipped curing on a terrace slab, and fine surface cracks showed up within weeks.
Agent tip: During a site visit, look for ponding water or wet burlap on fresh slabs. If the surface is dry and white in summer, curing is probably being neglected.
Related: Slab Ready-Mix Concrete (RMC) Cube Test
Also called: Statement of Account, Account Statement
A builder's account statement for a buyer, showing every demand raised, payment received, interest charged and balance due. Buyers compare it with the agreement's payment plan to catch errors before possession.
Example: Before taking possession in Greater Noida, Anil asks for his ledger and finds a charge for car parking that was not in his agreement.
Agent tip: Ask for the ledger every quarter and before the final payment. Compare each entry with the payment plan and receipts.
Related: Payment Plan Demand Letter No Dues Certificate Possession Letter
Also called: Dag, Plot Number
The plot or parcel number used in West Bengal, Assam and parts of eastern India to identify a piece of land on the village map and in the khatian. It does the same job as the khasra or survey number in other states.
Example: The deed describes land at Mouza Bishnupur as Dag No. 214, which matches the map but not the khatian, where the same land is under Dag No. 241.
Agent tip: A typing swap in the dag number is common. Always cross-check it across the deed, khatian and map.
Related: Khatian Survey Number Khasra Number Bhu Naksha (Cadastral Map)
The term for mutation in Uttar Pradesh, Bihar and Jharkhand: addition of the new owner's name and removal of the previous owner's name in the land records.
Example: A buyer in Patna applies for dakhil kharij after registration to update the land record.
Agent tip: Include dakhil kharij in the post-registration checklist for clients in these states.
Also called: दलाल, Property Dealer
The Hindi and Urdu word for a broker or middleman. In property use it means an agent who connects buyers and sellers for a fee, though the word can sound informal or negative.
Example: A seller in Ambala tells his son that the dalal has found two buyers for the shop.
Agent tip: Use the formal title Real Estate Agent when dealing professionally, and make sure agents are registered where the state law requires.
Related: Real Estate Agent Broker Brokerage RERA Agent Registration
A layer of waterproof material placed above ground level in walls to stop moisture rising from the ground.
Example: A house without a proper DPC shows damp patches on the lower walls.
Agent tip: Look for damp marks on ground-floor walls during site visits.
Related: Plinth Waterproofing
Also called: Seelan, Leakage
Unwanted moisture in walls, ceilings or floors, shown by peeling paint, stains or a musty smell. Causes include leaking pipes, rain entering through cracks, rising ground water and poor waterproofing.
Example: A top floor owner in Chandigarh saw ceiling stains after rain and later traced the water to a failed terrace waterproofing layer.
Agent tip: Visit during or just after rain before buying a resale flat. Seepage rarely shows in dry weather.
Related: Waterproofing Defect Liability Period Efflorescence
Also called: Data Center
A secure building holding servers and network equipment, with heavy power supply, cooling, fire protection and backup systems. Developers lease space to companies in racks or whole halls. Land is chosen for power, water, fibre and low risk of floods.
Example: A developer buys land near Navi Mumbai for a data centre because of nearby power substations and fibre routes.
Agent tip: For land listings, the power load available and the fibre access matter more than road frontage.
An official certificate of a person's death issued by the local registrar of births and deaths. It is the first document needed when property passes to heirs, whether by will, succession or mutation.
Example: When Mr. Gill dies in Ludhiana, his sons first obtain a death certificate before they apply for mutation of his plot.
Agent tip: Name and spelling must match across the death certificate, title documents and ID. Fix errors early.
Related: Legal Heir Certificate Succession Certificate Mutation Probate
Also called: DSCR
A measure of whether a property's income can cover its loan payments. It is the net operating income divided by the yearly loan instalments, interest plus principal. A ratio above 1 means the income covers the payments.
Example: A Mohali office building earns ₹1.5 crore a year after costs and pays ₹1 crore a year in instalments, so its ratio is 1.5.
Agent tip: Lenders for commercial property use this ratio. Improve it by raising rent, cutting costs or choosing a longer tenure.
Related: Net Operating Income (NOI) Lease Rental Discounting Loan Against Property (LAP)
Also called: DRT
A special tribunal set up to recover large loans owed to banks and financial institutions faster than ordinary civil courts. It hears recovery suits and appeals against actions taken by lenders under the SARFAESI Act.
Legal basis: Recovery of Debts and Bankruptcy Act, 1993. Appeals against SARFAESI action go to the DRT under Section 17 of the SARFAESI Act.
Example: A borrower in Chandigarh who thinks the bank wrongly took possession of his factory shed files an application before the Debts Recovery Tribunal.
Agent tip: Time limits are short, so a borrower who gets a notice should consult a lawyer right away.
Related: SARFAESI Act NPA (Non-Performing Asset) Section 13(2) Demand Notice
A land unit equal to one hundredth of an acre (435.6 sq ft), used in Bihar, Jharkhand, West Bengal and Odisha.
Example: A 10 decimal plot in Ranchi is 4,356 sq ft.
Agent tip: Treat decimal and cent as the same value. Make sure the buyer does not read it as a decimal fraction of a different unit.
Also called: Suit for Declaration, Declaration Suit
A civil case in which a person asks the court to declare a legal right, such as ownership of a property or the invalidity of a deed. It does not claim money but clears doubt about a title.
Example: A woman in Ranchi files a suit asking the court to declare that a sale deed made by her brother, using a forged signature, is not binding on her.
Agent tip: A pending declaratory suit over a property is a serious warning. Check court records before closing a deal.
Related: Specific Relief Act, 1963 Civil Court Title Litigation Check
Also called: DFC
Special railway lines meant only for goods trains, built on the Eastern and Western routes of the country. They free passenger tracks, speed up cargo and shape where warehouses and industrial parks are planned.
Example: A logistics firm looks for warehouse land near a DFC terminal in Haryana and checks the road link.
Agent tip: Land near freight terminals suits warehousing, not housing, so check land use before buying.
Related: Warehouse Industrial Corridor Industrial Plot Delhi-Mumbai Industrial Corridor (DMIC)
Also called: Surrender of Lease, Lease Surrender Deed
A deed by which a lessee or tenant gives up the lease and returns the premises to the landlord. It ends the lease on a recorded date and records any dues settled. A lease of more than a year is surrendered through a registered deed.
Example: A company in Pune ends a five-year office lease early, and the landlord and company sign a deed of surrender that also records the refund of the security deposit.
Agent tip: Include a handover date, a statement of dues and a clause that no claims remain. Keep a signed copy of the key handover.
Related: Lease Deed Lessor Lessee Security Deposit
A rule in some states that treats a plan or permission as approved if the authority does not decide within the stated period. It speeds up routine cases but does not override safety or legal requirements.
Example: An architect in Madhya Pradesh relied on the state's time-limit rule when the authority did not respond to a house plan.
Agent tip: Do not rely on deemed approval alone when buying. Ask for a written approval or a portal certificate.
Related: Building Plan Approval Online Building Plan Approval System (OBPS) Sanctioned Plan
A process in Maharashtra under which a co-operative housing society can get a conveyance order from the competent authority when the promoter does not execute the conveyance deed.
Legal basis: Maharashtra Ownership Flats Act, 1963 (Section 11), and Maharashtra Co-operative Societies Act.
Example: A Mumbai society whose builder has vanished applies for deemed conveyance to get the land transferred in its name.
Agent tip: Societies often delay this step. It is needed before redevelopment.
Also called: Notional Rent
A second or third self-occupied house that is treated as rented for tax purposes, even if no rent is received. Up to two houses can be treated as self-occupied, and any more are taxed on an assumed rent.
Legal basis: Income-tax Act, 1961, as amended by the Finance Act, 2019; continued in the 2025 Act.
Example: Sanjay owns three flats in Mohali. He lives in one, keeps another vacant, and rents none. The third is taxed on a notional rent.
Agent tip: Clients with several homes should ask a CA which two to treat as self-occupied.
Related: Income from House Property Net Annual Value (NAV) Home Loan Interest Deduction
A project is treated as registered if the Authority neither grants nor rejects the application within 30 days. The Authority must then issue the registration number and login within seven days after that period. The promoter still has to be able to show a complete application.
Legal basis: Section 5(2) of the RERA Act, 2016.
Example: A Panchkula developer hears nothing for 30 days after filing, so the project is deemed registered and a number and login are issued a week later.
Agent tip: A deemed registration is still a registration, but check the portal for the actual number and uploaded documents before accepting bookings. Do not rely on a promoter's word that the 30 days have lapsed.
Related: Section 5 (RERA) RERA Registration Number Section 3 (RERA)
The Authority must keep a public database of promoters who have defaulted, with their photographs, and a similar record of agents whose registration was rejected or revoked. It helps buyers spot promoters with a poor compliance record.
Legal basis: Section 34 of the RERA Act, 2016.
Example: A buyer in Kharar finds a promoter's photograph and default entry on the portal and drops that builder from the shortlist.
Agent tip: Search the developer's name and group companies, not just the project name. Defaults can sit under a different entity.
Related: Section 34 (RERA) Revocation of Registration Promoter
A period after handover during which the promoter must fix structural and workmanship defects without charge. Under RERA it is five years from possession.
Legal basis: Section 14(3) of the RERA Act, 2016: defects must be rectified within 30 days of notice, failing which the allottee can claim compensation.
Example: Cracks appear in a wall three years after possession. The buyer gives notice and the builder must repair them.
Agent tip: Tell buyers to give written notice of defects within the period.
Related: Snagging Waterproofing Promoter
If a buyer suffers loss because the promoter's title to the land was defective, the promoter must compensate the buyer. The claim is not barred by limitation periods in other laws, so it can be raised even years after purchase.
Legal basis: Section 18(2) of the RERA Act, 2016.
Example: A buyer in Zirakpur discovers years later that a disputed claim on the land affects his flat, and claims compensation from the promoter.
Agent tip: Run a title search before buying. A claim is easier to avoid than to win.
Related: Section 18 (RERA) Title Legal Title Report
Permission from the Ministry of Defence or the local military authority for construction near defence installations, such as cantonments and ammunition depots. Height and use may be restricted in a notified zone around them.
Example: A residential builder near a cantonment in Pune had to get the military authority's clearance before raising the building height.
Agent tip: Look for defence land nearby when assessing a plot. Restrictions can be significant and are checked by the local authority.
Related: No Objection Certificate (NOC) Height Clearance (AAI NOC) Building Plan Approval
Also called: Service Deficiency
Any fault, shortfall or inadequacy in the quality or manner of a service, which a consumer can complain about. For housing, it covers delay in possession, poor construction or failure to provide promised amenities.
Example: A builder in Indore promised a clubhouse but never built it. The buyers file a complaint of deficiency in service before the district consumer commission.
Agent tip: Collect brochures, agreements and emails promising the facility. They are the main proof in a complaint.
Related: Consumer Protection Act, 2019 Consumer Commission Defect Liability Period Builder-Buyer Agreement
Also called: Insufficient Stamp Duty, Short Stamping
The shortfall when a document has been stamped with less duty than the law requires. The authority can impound the document and demand the balance with a penalty, and an insufficiently stamped document may not be used as evidence until the deficit is paid.
Legal basis: Sections 33 and 35 of the Indian Stamp Act, 1899, and the corresponding state laws.
Example: A sale deed is stamped on ₹50 lakh, but the circle rate value is ₹65 lakh. The sub-registrar asks for the difference and a penalty before registering.
Agent tip: Check the circle rate value before the deed is drawn. Paying the right duty first costs less than fixing it later.
Related: Stamp Duty Circle Rate Impounding of Documents
Also called: Delay in Possession, Delay Compensation
The interest payable by a promoter to an allottee for delayed possession. In most states it is the State Bank of India's highest MCLR plus 2%, as an annual rate. The same rate applies if an allottee delays payment.
Legal basis: State RERA rules made under Section 18 and Section 2(za) of the Act. A few states use the prime lending rate instead.
Example: A buyer who paid ₹40 lakh gets interest on that amount for each month of delay at the rule's rate.
Agent tip: Look up the rule in your state. The rule number differs among states.
The authority responsible for planning and development in Delhi. It builds housing and sells plots and flats, often on leasehold terms.
Example: A DDA flat is bought on resale with a conveyance deed.
Agent tip: Check whether the flat has been converted to freehold.
Related: Development Authority Leasehold Property
The Real Estate Regulatory Authority, Delhi, the regulator for the National Capital Territory.
Example: A buyer in Dwarka checks a project on the Delhi RERA portal.
Agent tip: Delhi has many leasehold and DDA properties, so check the tenure.
Related: RERA Authority Delhi Development Authority (DDA) Leasehold Property
A long access-controlled expressway planned between Delhi (via Haryana) and Mumbai through several states, opened in sections. Towns near its interchanges draw interest for logistics and housing.
Example: A Rajasthan landowner near an interchange gets calls from buyers and checks his land's use category.
Agent tip: Section opening dates differ. Check which stretch is operational before relying on a travel time.
Related: Expressway Industrial Corridor Delhi-Mumbai Industrial Corridor (DMIC) Right of Way (ROW)
Also called: DMIC
A central government initiative to develop industrial and urban nodes along the Western Dedicated Freight Corridor between Delhi and Mumbai, across several states. It promotes investment regions, logistics parks and townships, with progress varying by node.
Example: A warehouse developer studies a DMIC node in Rajasthan and asks the state agency about allotment terms.
Agent tip: DMIC is a broad programme; only notified nodes carry special planning. Confirm if a given plot lies inside one.
Related: Industrial Corridor Dedicated Freight Corridor (DFC) Industrial Plot Warehouse
A written request from a developer for payment of an instalment as per the payment plan. In a construction-linked plan it states the stage reached.
Example: A developer sends a demand letter when the 8th floor slab is completed.
Agent tip: Check that the stage claimed has been reached before paying. Ask for the engineer's certificate if in doubt.
The physical marking of a plot's boundaries on the ground by a revenue official or licensed surveyor, based on the map and records.
Example: Before building a boundary wall, a buyer gets the plot demarcated and finds that the neighbour's fence is 2 feet inside the plot.
Agent tip: Never skip demarcation for plots. Many boundary disputes begin with an assumed boundary.
Related: Plot Area Boundary Wall Tehsildar
An order from the authority or court to pull down a building or part of it, usually because it is unauthorized, unsafe or encroaches on public land. The owner is normally given notice and a chance to respond first.
Example: A floor built over a public lane in Ludhiana was ordered demolished after the owner failed to regularise it.
Agent tip: Check the authority's records for notices before buying an older building. Buying such a property can mean inheriting the risk.
Related: Unauthorized Construction Stop Work Notice Regularisation
Also called: Dera Bassi
A town in Mohali district, Punjab, on the Chandigarh–Ambala highway between Zirakpur and Lalru, with housing and industrial areas.
Example: A buyer buys an industrial plot at Derabassi.
Agent tip: Check the zone and approvals, since housing and industry mix in this belt.
Related: Tricity Zirakpur Industrial Plot
Also called: North Bengaluru
A town north of Bengaluru, known as the location of the city's international airport. The area has plotted developments, business parks and aerospace and tech zones, and a separate planning authority for the airport region.
Example: An investor with land in Devanahalli asks a lawyer to confirm the master plan zoning before planning any layout.
Agent tip: Plots near the airport may fall under special planning rules, so check zoning, height limits and land use approvals before buying.
Related: Master Plan Zoning (Land Use Zone) Height Clearance (AAI NOC) BMRDA
A government body that plans and approves development in a defined area and often develops and sells plots and flats, such as GMADA, HSVP, DDA, BDA and MMRDA.
Example: A Mohali plot buyer deals with GMADA for approvals and transfer.
Agent tip: Know which authority covers the project. Approvals, charges and transfer rules come from it.
Related: Approved Layout GMADA Municipal Corporation
The rules of a city or state on land use, building height, FSI or FAR, setbacks, parking and other building parameters. They are also called building byelaws or regulations.
Example: A builder wants to build 14 floors but the DCR for that road limits height to 10 floors.
Agent tip: Read the local DCR for any project your client is considering.
Related: Floor Area Ratio (FAR) Setback Ground Coverage
Also called: DP
A long-term plan prepared by a planning authority for the growth of a city or area, showing land uses, roads, public facilities and reserved sites. Some states call it the Master Plan. It guides what may be built on any plot.
Example: A buyer in Pune found the Development Plan marked part of his plot for a road, which would reduce his buildable area.
Agent tip: Before buying land, check the plot on the current Development Plan and any proposed revision.
Related: Master Plan Zoning (Land Use Zone) Zonal Plan
Also called: DPA, Development Agreement Power of Attorney
A power of attorney given by a landowner to a developer so that the developer can obtain approvals, build and sell units in a project. It is usually tied to a development agreement, and it should be registered and clearly limited.
Example: A Kharar landowner signs a development agreement and a registered power of attorney for the builder, authorising sanctions but not the sale of his remaining plot.
Agent tip: Read its scope carefully. A broad, irrevocable power can give a developer more control than the landowner intended.
Related: Joint Development Agreement (JDA) Power of Attorney (POA) Special Power of Attorney (SPA) Promoter
Also called: Differential GPS Survey
A survey that uses differential global positioning to fix locations on the earth to within a few centimetres. It is used for large land parcels and projects where precise coordinates of boundaries matter.
Example: A highway authority used a DGPS survey to mark the centreline and boundary points of a new road passing through farm land.
Agent tip: A DGPS report with coordinates is useful evidence in boundary disputes over large plots.
Related: Total Station Survey Demarcation ULPIN (Bhu-Aadhaar)
Also called: Dharitree Portal
Assam's land records portal, where users can see the jamabandi (record of rights), the patta, the village map and the mutation status for land parcels. It is part of the state's digitisation of revenue records.
Example: A buyer in Guwahati searches Dharitree using the dag and patta number and finds that the land is recorded as agricultural.
Agent tip: The portal can show mutation requests that are still pending. Wait until a pending mutation is resolved before paying the full price.
Related: Dag Number (Plot Number) Patta Record of Rights (RoR) Mutation
Also called: Dholera SIR
A greenfield industrial and urban region in Gujarat, planned as a node of the Delhi-Mumbai Industrial Corridor. It has a notified development authority and planning scheme, and has long been marketed for plots, so buyers should be careful.
Example: An agent receives a pamphlet advertising "Dholera plots" and asks the seller if the plot lies inside the notified town planning scheme.
Agent tip: Many sellers advertise land near Dholera outside the notified area. Check the survey number against the SIR's official map before paying.
Related: Delhi-Mumbai Industrial Corridor (DMIC) Greenfield Project Layout Plan Survey Number
The Digital India Land Records Modernization Programme: a central programme to digitise land records, maps and registration, and link them across states.
Example: Under DILRMP, state portals publish digitised records and maps.
Agent tip: Use it to explain why many states now give online copies of land records.
Related: ULPIN (Bhu-Aadhaar) Bhulekh SVAMITVA
The release of loan money by the bank, either in full or in stages tied to construction.
Example: A bank releases 20% after the plinth stage, once the builder's demand letter is verified.
Agent tip: Check the bank's rules for tying disbursement to demand letters.
Related: Pre-EMI Demand Letter Tripartite Agreement
Also called: DCF
A valuation method that estimates what future cash flows from a property are worth today, by discounting each one at a chosen rate. It reflects both the timing of cash flows and the risk involved.
Example: A valuer estimates ten years of rent from a Zirakpur office block plus an expected sale price, discounts each at 11%, and adds them to get today's value.
Agent tip: DCF results move a lot with the discount rate and rent growth assumptions. Ask to see those inputs.
Related: Net Present Value (NPV) Internal Rate of Return (IRR) Net Operating Income (NOI)
A sale made quickly, often below market price, because the seller needs cash urgently or faces loan default, legal pressure or family difficulty. Buyers should be extra careful about title, dues and the reason for the rush.
Example: An owner offers a Sector 70 flat below market rate to repay a loan and wants money within a week.
Agent tip: A low price does not remove the need for checks. Verify title, loan status and any litigation first.
Related: Distressed Property Due Diligence Market Value
Also called: Forced Sale Value, Realisable Value
The price a property would fetch if it had to be sold quickly under pressure, such as a bank auction or urgent need for cash. It is usually lower than the normal market value, and valuers often report it separately.
Example: A flat valued at ₹60 lakh may have a distress sale value of ₹48 lakh in an auction, because buyers have little time and cannot inspect it.
Agent tip: Bank loans against property are often sized on distress value. Ask the valuer to state both figures.
A property sold under pressure, for example because of loan default, litigation or an urgent sale, often at a discount.
Example: A bank-auction flat is listed at 25% below market.
Agent tip: A low price is often a sign of legal or physical problems. Check everything.
Related: Bank Auction Property Due Diligence
Also called: Deputy Commissioner, DC, DM
The senior revenue officer of a district. The Collector heads land administration, with powers over land acquisition, revenue recovery, certain land use permissions and disputes depending on state law, and works through tehsildars and sub-divisional officers.
Example: A farmer in Mohali district needs the Collector's order for a land use matter, which the tehsil forwards.
Agent tip: Land matters often run through the Collector's office. Know which officer in the chain handles your file.
Related: Tehsildar Land Acquisition (RFCTLARR Act, 2013) Change of Land Use (CLU)
The first-level consumer forum in each district. Under the 2021 rules it hears complaints where the consideration paid is up to Rs 50 lakh, which can include homebuyers' claims against builders. The state and national commissions hear higher-value disputes and appeals.
Legal basis: Consumer Protection Act, 2019; Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021.
Example: A buyer who paid Rs 35 lakh for a delayed flat in Mohali files at the district commission.
Agent tip: Limits are based on the amount paid and can be revised. Check the current rules before filing.
Related: Consumer Commission State Consumer Disputes Redressal Commission NCDRC
The senior registration officer of a district who oversees the Sub-Registrar offices in the district. Complaints about refused or delayed registration, and certain corrections, can be taken to this office. Above it sits the state registration head.
Example: A seller whose registration was refused by a Sub-Registrar in Mohali writes to the District Registrar.
Agent tip: If a Sub-Registrar office refuses to register, ask for the reasons in writing and go to the District Registrar.
Related: Sub-Registrar IGR (Inspector General of Registration) Registration Act, 1908
Also called: দলিল, Deed, Mother Deed
The Bengali word for a deed, used for registered property documents such as the sale deed. The "mother deed" or "matrik dolil" is the earlier deed showing how the seller got the property.
Example: A seller in Kolkata hands over the original dolil and the previous owner's dolil to the buyer's lawyer.
Agent tip: Ask for the chain of previous deeds, the matrik dolil included, to check title.
Related: Sale Deed Title Deed Link Documents Legal Title Report
A plot that has been allotted or approved but left without construction for a long period. Development authorities often set deadlines for building, and a dormant plot can attract extension fees, penalty or even resumption.
Example: An industrial plot allotted in 2019 is still empty in 2026. The authority's allotment terms may allow it to charge an extension fee or cancel the allotment.
Agent tip: Read the allotment terms on construction deadlines before you quote a dormant plot, and ask for proof that extensions were granted.
Related: Industrial Plot Allotment Letter Development Authority
Also called: DTAA, Tax Treaty
A treaty between India and another country that prevents the same income from being fully taxed in both. It sets which country may tax which income and allows a credit for tax paid abroad. The tax residency certificate is needed to claim it.
Example: An NRI in Canada sells a flat in India and pays tax here, then claims credit for it when filing his tax return in Canada under the treaty.
Agent tip: NRIs should ask their CA about the treaty with their country of residence before signing a sale agreement.
Related: NRI (Non-Resident Indian) Residential Status (Income Tax) TDS on Sale by NRI
A payment plan or initial payment in which the buyer pays a large share of the price early, often for a discount.
Example: A buyer pays 90% upfront for a 7% discount.
Agent tip: Advise clients to weigh the discount against the risk of delay. In a RERA project the promoter cannot take more than 10% before a registered agreement for sale, so the money is tied up.
Related: Payment Plan Booking Amount
The version of an agreement circulated for review before signing. A buyer is entitled to read and negotiate it.
Example: A buyer asks for a draft of the agreement for sale a week before the signing date.
Agent tip: Advise clients to get it checked by a lawyer. Do not let them sign at the builder's office in one sitting.
A survey using drones with cameras or sensors to produce maps, 3D models and measurements of land from the air. It is faster than ground surveys on large or rough sites and helps check progress during construction.
Example: Under the SVAMITVA scheme, drones mapped village inhabited areas so that residents could receive property cards.
Agent tip: Drone images help show site progress. Ask your developer for dated aerial images during construction.
Related: SVAMITVA Topographical Survey Property Card
The Directorate (or Department) of Town and Country Planning, a state body that grants colony licences, approves layouts and enforces planning laws. In Haryana, it issues licences under the Haryana Development and Regulation of Urban Areas Act, 1975.
Example: A developer in Gurugram applies to the DTCP for a licence to develop a colony.
Agent tip: Ask for the licence number and check it on the DTCP's records.
Related: Colony Licence Approved Layout
The checks a buyer, lender or agent makes before a purchase: title, approvals, RERA registration, encumbrances, litigation, tax and dues, and physical possession. The aim is to find problems before money is paid.
Example: Before a booking, an agent checks the RERA number, the sanctioned plan, the encumbrance certificate, the Jamabandi and any pending cases.
Agent tip: Use a written checklist for every deal. A skipped check is the usual cause of a bad purchase.
Related: Legal Title Report Encumbrance Certificate (EC) Litigation Check CERSAI
A residence spread over two floors connected by an internal staircase. It may be an apartment or a house.
Example: A duplex penthouse has living space on the lower level and bedrooms upstairs.
Agent tip: Clarify the carpet area on both floors. Builders often quote only the larger floor.
Related: Penthouse Apartment Carpet Area
A buyer must take physical possession within two months of the occupancy certificate being issued for the unit. A buyer who delays may be asked to pay holding costs or maintenance.
Legal basis: Section 19(10) of the RERA Act, 2016.
Example: An occupancy certificate is issued on 1 March for a Mohali flat. The buyer must take possession by the end of April.
Agent tip: Schedule inspection quickly after the notice of possession and record any snag in writing.
Related: Section 19 (RERA) Occupancy Certificate (OC) Possession Letter
A high-capacity road linking Dwarka in Delhi with Gurugram's NH-48 stretch, also called the Northern Peripheral Road. It improved access to the sectors along its route and is widely referred to when discussing Gurugram's western residential belt.
Example: A buyer notes that a Sector 100-plus apartment in Gurugram is a short drive from the Dwarka Expressway and asks how the access road is planned.
Agent tip: Always check the site's actual road access and the sector's licence status; being close to an expressway on a map does not guarantee a usable entry road.
Related: Gurugram Expressway HRERA Micro-market
Also called: Bayana, Advance Money
A deposit paid by a buyer to show serious intent and bind the seller, which the seller may keep if the buyer backs out without a valid reason, within reasonable limits. Typically paid on signing an agreement to sell.
Example: A buyer pays ₹2 lakh as earnest money on a ₹50 lakh resale flat. If he withdraws without reason, the seller may keep a reasonable part, but courts can refuse an unreasonable forfeiture.
Agent tip: Write the refund and forfeiture conditions in the agreement.
Related: Agreement to Sell (ATS) Token Amount
A right of one owner to use another's land for a specific purpose, such as a right of way, drainage or light and air.
Legal basis: Indian Easements Act, 1882.
Example: A house has a legal right of way through the neighbour's plot to reach the road.
Agent tip: Check on site for paths, pipes and other uses that may amount to easement rights.
Related: Encumbrance Quiet Enjoyment
Also called: ESZ
An area around a national park or wildlife sanctuary, notified by the Central Government, where certain activities are restricted or regulated to protect the protected area. Construction rules in an ESZ can be stricter than elsewhere.
Example: A resort plan near a sanctuary in Uttarakhand was held up until the ESZ rules for the area were checked.
Agent tip: Before buying land near forests or sanctuaries, check the ESZ notification for that protected area.
Related: Environmental Clearance Green Belt Coastal Regulation Zone (CRZ)
Also called: Section 49 Registration Act, Unregistered Document
A document that the law requires to be registered cannot normally be used to prove a transfer if it is not registered. An unregistered sale deed may be used only for a limited purpose, such as showing that possession was given.
Legal basis: Registration Act, 1908, Section 49.
Example: A buyer in Rewari has only an unregistered agreement for a plot. When the seller refuses to complete, the buyer finds that the paper cannot prove ownership.
Agent tip: Never rely on an unregistered paper as title. Insist on a registered sale deed.
Related: Registration Act, 1908 Registration (Property) Sale Deed Part Performance
Also called: Plate Efficiency
The share of a building's floor area that is usable inside units compared with the total built area, including lobbies, corridors and shafts. A higher ratio means less area lost to common spaces.
Example: Two towers in Mohali had similar built-up areas, but one gave buyers a higher carpet share because of a better layout.
Agent tip: Compare carpet area to saleable area across projects. It shows which layout wastes less of what you pay for.
Related: Loading Factor Carpet Area Saleable Area
A white powdery deposit on walls or concrete caused by salts carried out by water as it dries. It signals moisture in the wall and, if it keeps coming back, points to a leak or poor damp proofing.
Example: A ground floor owner in Mohali saw white patches on the bedroom wall every monsoon, which turned out to be a leaking external pipe.
Agent tip: Treat white patches as a clue to find the water source, not just something to repaint.
Related: Dampness (Seepage) Waterproofing Damp Proof Course (DPC)
The permanent power supply to a unit or building from the distribution company. A new flat needs sanctioned load and meter.
Example: A builder hands over with only a temporary construction connection, which has to be replaced.
Agent tip: Ask whether the connection is permanent and in the owner's name.
Related: Occupancy Certificate (OC) Possession
The state-run or private utility that supplies electricity to consumers in an area. Buyers apply to it for new connections, and a completion or occupancy certificate is usually needed for a permanent connection.
Example: A new buyer applies to the DISCOM for a meter, attaching the sale deed and the occupancy certificate.
Agent tip: Check electricity dues on resale properties. Many DISCOMs link dues to the property.
Related: Electricity Connection Occupancy Certificate (OC) No Dues Certificate
A large technology and industrial area south of Bengaluru, developed by KEONICS in the 1970s-80s. It has offices, apartments and layouts, and an elevated expressway links it to the city.
Example: A fresher chooses a paying guest room in Electronic City for its walk to the office and meals.
Agent tip: When buying around Electronic City, check whether the property sits in the Greater Bengaluru Authority area (formerly BBMP) or a panchayat jurisdiction, because tax and khata differ.
Related: Khata (Karnataka) BBMP BMRDA RERA Karnataka
Also called: Equated Monthly Installment
The fixed amount a borrower pays each month towards a loan. It has an interest part and a principal part, and the share of principal grows over time.
Example: A ₹50 lakh loan at 8.5% for 20 years has an EMI of about ₹43,400.
Agent tip: Use an EMI calculator with the client. Show how a longer tenure lowers the EMI but raises the total interest.
The unlawful extension of a person's building, fence or use onto another's land or onto public land such as a road or a drain. Authorities can remove it, and a private owner can seek removal through the courts.
Example: A shopkeeper in Ambala extends his shed 6 feet into the municipal footpath, and the corporation issues a notice to remove it.
Agent tip: Walk the boundaries with the map before buying. A plot with an encroachment may be smaller than the deed shows.
Related: Demarcation Unauthorized Construction Right of Way (ROW) Eviction
Any claim or burden on a property, such as a mortgage, lien, easement, court order or pending litigation, that can affect a buyer's rights.
Example: A flat that is mortgaged to a bank is an encumbered property until the loan is cleared.
Agent tip: Check the encumbrance certificate, the bank's NOC and CERSAI for charges.
Related: Encumbrance Certificate (EC) CERSAI Lien
Also called: Non-Encumbrance Certificate
A certificate from the Sub-Registrar showing registered transactions and charges on a property for a stated period. It reveals mortgages and other registered liens.
Example: A buyer obtains an EC for 30 years and finds an old mortgage that was never released.
Agent tip: Obtain it for at least 13 to 30 years where possible, and check that every charge has been closed.
Related: Encumbrance Sub-Registrar Due Diligence
Also called: Self-use Buyer
A buyer who purchases property to live in or use personally, not to resell or rent. End users care about possession date, quality and approvals, and are usually more sensitive to delays than investors.
Example: A family buys a 3 BHK in Mohali to move in after their lease ends and refuses a project with a distant possession date.
Agent tip: Lead with possession date, approvals and neighbourhood when talking to end users, not returns.
Also called: ECBC, ECSBC
A code issued by the Bureau of Energy Efficiency that sets minimum energy performance standards for large commercial buildings, covering the envelope, lighting, air conditioning and power. BEE has since also issued an Energy Conservation and Sustainable Building Code (ECSBC 2024), so check which version your state applies. States adopt and notify the code for their own area.
Example: A mall planned in Lucknow chose glazing and lighting layouts to comply with the code before applying for sanction.
Agent tip: Check whether your state has notified the code and whether it applies to your project's connected load or built-up area.
Related: Green Building Building Bye-Laws HVAC
Before a promoter withdraws money from the project's separate account, the withdrawal must be in proportion to work done, certified by an engineer, an architect and a chartered accountant. This ties spending to construction progress and protects buyers' money.
Legal basis: Section 4(2)(l)(D) of the RERA Act, 2016.
Example: A Panchkula promoter wants to withdraw funds after the second slab is cast. The three professionals certify the percentage completed, and only a matching share is released.
Agent tip: Ask a promoter whether recent withdrawals were certified. A project with regular certificates usually has better financial discipline.
Approval from the environment authority for larger building and township projects under the EIA Notification, 2006. It sets conditions on water, waste, trees and energy.
Example: A 30,000 sq m building project must obtain environmental clearance before the commencement certificate.
Agent tip: Ask larger projects for their environmental clearance and compliance reports.
Related: Commencement Certificate Sanctioned Plan
A mortgage created by depositing the title deeds with the lender with the intention to secure the loan. It is common for loans in towns where the law allows it.
Legal basis: Transfer of Property Act, 1882, Section 58(f). It applies in Kolkata, Chennai, Mumbai and other towns notified by the State Government.
Example: A borrower hands over the original sale deed to the bank to create an equitable mortgage.
Agent tip: Ask the seller to confirm that the original documents are free from any such deposit.
Related: Mortgage Mortgage Deed Encumbrance Certificate (EC)
The part of a property's value that the owner holds, equal to market value minus the outstanding loan.
Example: A flat worth ₹80 lakh with a ₹40 lakh loan balance gives ₹40 lakh equity.
Agent tip: Equity rises with repayment and price gains.
Related: Home Loan Market Value
A system in some states that lets people book appointments, upload documents and complete part of registration online.
Example: A buyer in a digital state books a Sub-Registrar slot online.
Agent tip: Check the state's online registration portal.
A lease or sale term allowing price or rent to rise at set intervals. Commercial leases often include an annual or three-yearly increase of 5 to 15%.
Example: A lease starts at ₹80 per sq ft with a 5% increase each year.
Agent tip: Check how the increase is calculated and when it applies.
Related: Lease Deed Pre-Leased Property
The passing of property to the government when its owner dies without any legal heir or will. In India, the state takes the property, and the claim is made under the doctrine of escheat and the related provisions of the Constitution.
Example: A man in Dehradun dies without any known relative or will. The district authority takes steps to take over his empty house for the state.
Agent tip: Property is rarely escheated if a legal heir exists. If an owner is old and alone, a registered will helps.
Related: Intestate Succession Will Legal Heir Certificate Revenue Record
Also called: RERA Account, 70% Rule
A separate bank account in which the promoter must keep 70% of the amounts realised from allottees. It is used only for construction and land costs, and withdrawals are certified by an engineer, an architect and a chartered accountant in proportion to the work done.
Legal basis: Section 4(2)(l)(D) of the RERA Act, 2016.
Example: A developer collects ₹10 crore from buyers and must deposit ₹7 crore in the project account.
Agent tip: This is 70% of the amounts received from allottees, not 70% of the project cost.
Related: Section 4 (RERA) Quarterly Update Promoter
A system for paying stamp duty electronically, run in most states through the Stock Holding Corporation of India or state agencies. The certificate has a unique number that can be verified online.
Example: A buyer pays ₹3.5 lakh in stamp duty through an e-stamp certificate before the sale deed.
Agent tip: Verify the certificate number on the official site before registration.
Related: Stamp Duty Stamp Paper Registration (Property)
The office of the Chandigarh Administration that manages the leasehold sites, houses and commercial properties in the city. Transfers, mutations, conversions and dues for such properties are processed through it.
Example: A buyer of a Chandigarh leasehold house checks with the Estate Office that dues are paid and the transfer is recorded.
Agent tip: In Chandigarh, ask for the Estate Office records and dues status before buying.
Related: Chandigarh Housing Board (CHB) Leasehold Property Mutation
Also called: Evacuee Land, Displaced Persons Property
Property in India left behind by people who migrated to Pakistan around Partition and then managed by the Custodian under special laws. Some of it was allotted to displaced persons, and title issues can still be seen in old cases.
Example: A shop in an old Amritsar market is described as allotted evacuee property. The buyer asks for the allotment and the sale-certificate trail.
Agent tip: For old city properties in the north, check how the first allottee obtained title. Missing sale certificates cause trouble in resale.
Related: Title Link Documents Marketable Title Revenue Record
The legal removal of a tenant or occupier from a property. It must follow the law and the agreement, and usually needs a court or authority order.
Example: A landlord files for eviction after a tenant fails to pay rent for six months.
Agent tip: Never advise forceful eviction. It is illegal.
Related: Tenant Rent Control Act
Also called: EWS, LIG, MIG, HIG
Income-based groups used in housing schemes: Economically Weaker Section, Low Income Group, Middle Income Group and High Income Group. Each scheme sets its own income limits and unit sizes, so the same household may fall in different groups in different schemes.
Example: A family in Panchkula applies for an LIG flat in a state housing scheme after proving income as per the scheme rules.
Agent tip: Always read the income limits in the latest scheme brochure. Old figures often appear in agents' notes.
Related: Affordable Housing Pradhan Mantri Awas Yojana (PMAY) Credit Linked Subsidy Scheme (CLSS)
A deed by which two persons swap properties, each giving up one for the other. It is registered, with stamp duty charged on the value of the property, and each party becomes owner of what they receive.
Example: Two neighbours in Panchkula exchange adjoining plots to straighten their boundaries, and they sign a registered exchange deed.
Agent tip: Even if values are equal, duty is still payable under the state's rule. Check the stamp duty before signing.
Related: Sale Deed Stamp Duty Registration (Property) Title Deed
An agreement under which an owner or developer gives one agent the sole right to sell a property for a period.
Example: A seller gives a 90-day exclusive mandate to an agent and agrees to pay 1% on any sale.
Agent tip: Exclusive mandates need clear terms on the period, price and what happens on a direct sale.
Related: Open Listing Brokerage
A deliberate gap between two parts of a large building that lets them move with temperature changes or settlement without cracking. The gap is covered with a flexible cover or sealant, and it is often visible in long corridors and podium slabs.
Example: In a long mall in Ludhiana, a vertical gap running through all floors was an expansion joint, and the cover plates hid it in the corridor.
Agent tip: Do not fill or block expansion joints during interior work. They need to remain free to move.
Related: Podium Slab Waterproofing
A high-speed, access-controlled road with limited entry points. Land close to interchanges and planned nodes is often a topic in property talk, but access depends on service roads and local connections.
Example: A buyer notes a plot is "near the expressway" but learns the nearest entry point is far away.
Agent tip: Ask for the actual distance to the nearest entry or exit and for the service road status.
Related: Right of Way (ROW) Industrial Corridor Micro-market Land Acquisition (RFCTLARR Act, 2013)
The authority's grant of more time to complete a project, usually when the promoter asks for it. Only force majeure extensions under Section 6 are within the Act's one-year limit.
Example: A promoter applies for an extension and the authority grants it for a stated period.
Agent tip: Buyers' rights under Section 18 are not wiped out because the authority has extended the registration.
Related: Section 6 (RERA) Force Majeure
Also called: EBLR, External Benchmark Linked Rate
A home loan rate that is tied to a benchmark outside the lender's control, such as the RBI repo rate or a Treasury bill yield. Since October 2019, banks must link new floating-rate retail loans to such a benchmark, and add a spread on top.
Example: A private bank prices Nandini's loan at repo rate plus a spread, so when the repo rate changes her loan rate follows by the next reset.
Agent tip: The benchmark is the same for everyone at one bank. The spread is the number worth negotiating before signing.
Related: Repo-Linked Lending Rate (RLLR) Interest Rate Spread MCLR (Marginal Cost of Funds based Lending Rate)
Charges collected by the government from colonisers to fund external infrastructure such as roads, water and power for a colony. In Haryana and Punjab, builders pass part of the cost to buyers.
Example: A plotted colony's price sheet lists EDC as a separate item.
Agent tip: Check whether EDC is included in the basic price or charged extra, and whether the full amount has been paid to the authority.
Also called: East-facing, North-facing, Park-facing
The direction the main entrance or road side of a property faces, such as east-facing or north-facing. In India it affects price because many buyers follow Vastu preferences. It can also mean the view, such as park-facing or road-facing.
Example: A plot facing a park in Panchkula costs more per gaj than a similar plot in the same row.
Agent tip: Check the actual direction with a compass. Do not rely on sales claims about Vastu.
Related: Vastu Shastra Preferential Location Charges (PLC) Corner Plot
Also called: FMV 2001
For property bought before 1 April 2001, the seller may use its fair market value on that date as the cost, if that is higher than the actual cost. It cannot exceed the stamp duty value on that date.
Example: Satwant's family house was built in 1985 for a few thousand rupees. On sale he uses a registered valuer's report of its 2001 value as his starting cost.
Agent tip: Get a valuer's report for 1 April 2001 and keep records. Old property without proof of cost can produce a large taxable gain.
Related: Cost Inflation Index (CII) Cost of Acquisition Registered Valuer
Also called: Drop Ceiling
A secondary ceiling hung below the structural slab, usually from gypsum board, grid tiles or POP. It hides pipes and wiring, supports lights and helps with air-conditioning layouts. It reduces the clear height of the room.
Example: An office buyer in Mohali found that the false ceiling hid the sprinkler pipes and brought the room height down to just under three metres.
Agent tip: Check the minimum clear height after the false ceiling is installed. Low rooms feel cramped and may breach norms.
Related: Warm Shell Bare Shell MEP (Mechanical, Electrical and Plumbing)
Also called: Family Arrangement, Memorandum of Family Settlement
A written arrangement among family members to settle claims over joint or ancestral property peacefully, and often recorded in a memorandum. Courts generally favour such settlements if they are fair, voluntary and made to end a dispute.
Example: Three brothers in Jaipur sign a family settlement to divide their father's shop and house, then record it with a registered deed.
Agent tip: Ask that the family settlement be on proper stamp paper and registered if it creates rights over immovable property. An unregistered document can be refused in a land dispute.
Related: Partition Deed Release Deed Hindu Undivided Family (HUF) Settlement Deed
Also called: Vanshavali, Family Tree Affidavit, Pedigree Table
A written chart or affidavit listing all legal heirs of a deceased owner and their relationships, used in mutation, inheritance and sale of inherited land. Revenue offices in many states ask for it, often signed by the heirs and verified by the village head.
Example: After a farmer's death near Rohtak, the family submits a signed family tree with the mutation application, listing his widow, two sons and a married daughter.
Agent tip: Make sure every heir is listed. A missing heir can later challenge the sale.
Related: Legal Heir Certificate Mutation Intestate Succession Affidavit
Also called: Fard Jamabandi, Jamabandi Nakal
An extract or copy of the Jamabandi for a particular holding, issued by the revenue department. Buyers often call it a "land ownership certificate", but it is only a record extract and not proof of title.
Example: A bank asks for a fard issued within the last three months before it lends against agricultural land.
Agent tip: Ask for a fresh fard on the day of the deal. An old fard may not show a new mortgage or sale.
Related: Jamabandi Khasra Number Intkal
A Haryana city south-east of Delhi in the NCR, known for an older industrial base and a growing set of residential sectors and plotted colonies. It falls under Haryana's town-planning and HRERA framework.
Example: A small manufacturer in Okhla looks for a house in a Faridabad sector so that his workers and he live near the Delhi border.
Agent tip: In Haryana, check whether a plot is in an approved sector or a licensed colony, as unapproved colonies exist around the city.
Related: NCR (National Capital Region) HRERA DTCP Colony
A house on agricultural or semi-agricultural land used mainly for leisure or farming. Many states restrict building area and require permissions for non-farm use.
Example: A buyer pays for 1 kanal near Chandigarh expecting a farmhouse, but only a small farm shed is permitted on the agricultural plot.
Agent tip: Explain that agricultural land can have a limit on built-up area. Check the state rules and Change of Land Use needs.
The Maharashtra term for the mutation entry, recorded in the Village Form 6 (Ferfar Utara) when a property changes hands.
Example: After buying agricultural land in Pune district, the buyer's name must be entered through a ferfar before the 7/12 extract shows it.
Agent tip: Check the ferfar entries in the 7/12 history to see past transfers and any pending disputes.
Related: Satbara Utara (7/12) Mutation Talathi
Also called: FMB, FMB Sketch
A sketch maintained by the survey department in Tamil Nadu showing the exact shape, sides and area of a survey field or its subdivision. It is the base for a patta, a sub-division and a boundary dispute.
Example: Asha sees in the FMB that her Coimbatore plot is 4,000 square feet on paper, while the deed claims 4,400, and asks for a corrected sub-division before building.
Agent tip: Ask for the FMB sketch for any rural or suburban plot in Tamil Nadu. A deed area that is higher than the FMB area is a warning sign.
Related: Survey Number Patta Chitta Demarcation
Also called: Pre-Handover Inspection
A detailed check of the unit before accepting possession, covering walls, floors, doors, fittings, plumbing, electricals, area and agreed specifications. Defects are listed and the developer is asked to fix them in time.
Example: A buyer finds leaking bathroom tiles and a mismatched kitchen fitting, and lists them in a snag form before taking the keys.
Agent tip: Do the inspection in daylight, carry a measuring tape and take photographs of each defect.
A no-objection certificate from the fire department confirming that a building meets fire safety norms. It is required for high-rise buildings and many commercial properties.
Example: A mall needs a fire NOC before its OC.
Agent tip: For commercial or high-rise projects, ask for a valid fire NOC.
Related: No Objection Certificate (NOC) Occupancy Certificate (OC)
A buyer purchasing a home for the first time, who often needs guidance on loans, documents, taxes and budgeting. Some schemes and loan products give benefits to first homes, subject to current rules.
Example: A young couple in Panchkula asks the agent about loan eligibility, registration costs and what to check in an agreement.
Agent tip: Explain the full cost, including stamp duty, registration and fees, before the buyer gets attached to a flat.
Related: Home Loan Stamp Duty Registration Fee Pradhan Mantri Awas Yojana (PMAY)
Also called: Fit-out Period
Early handover of a commercial space so that the tenant or buyer can do interior work before the formal start of rent or final possession. It is common in offices and shops, and rent may start later or after a rent-free period.
Example: A retailer gets fit-out possession of a shop two months before opening and pays no rent during that time.
Agent tip: Put the fit-out period, rent start date and restoration duties in the lease.
Related: Lease Deed Bare Shell Warm Shell
A loan rate that stays the same for a fixed period. It gives certainty but is often higher at the start.
Example: A bank offers a fixed rate for 3 years, then moves the loan to a floating rate.
Agent tip: Read when the fixed period ends and the rate that follows.
Related: Floating Interest Rate Home Loan
The everyday word for an apartment in India. Co-operative societies in Maharashtra and Gujarat also use it.
Example: A buyer says "I want a 3 BHK flat near the IT park". The agreement will call it an apartment.
Agent tip: Use flat when speaking to buyers and apartment in formal documents.
A concrete floor slab that rests directly on columns without projecting beams below it. It gives a flat ceiling and easier services routing, but needs thicker slab sections around columns to handle punching forces.
Example: The basement parking of a Mohali mall used a flat slab so that ducts and sprinkler pipes could run freely under a smooth ceiling.
Agent tip: In a flat slab building, ask your interior designer before drilling or cutting the slab near columns.
Related: Slab Column Post-Tensioned Slab
Also called: Flexi Plan
A builder's payment plan that lets the buyer pay a small part at booking, a larger part in a few instalments, and the rest on possession, or in other mixed combinations. The exact split is in the allotment papers.
Example: A developer in Kharar offers a flexi plan with a smaller amount at booking and a larger instalment on the casting of the second slab.
Agent tip: Compare the total cost with other plans. Under RERA, a promoter cannot take more than 10% as an advance before a registered agreement for sale.
Related: Construction-Linked Plan Possession-Linked Plan Payment Plan
A loan rate that changes when the lender's benchmark changes. Most home loans today are linked to an external benchmark such as the repo rate.
Example: When the repo rate falls, a repo-linked home loan rate falls after the reset.
Agent tip: Explain that EMI or tenure can change when the rate changes.
Related: Repo-Linked Lending Rate (RLLR) MCLR (Marginal Cost of Funds based Lending Rate) Fixed Interest Rate
The ratio of the total built-up floor area permitted on a plot to the plot area. A plot of 1,000 sq m with FAR 2 allows 2,000 sq m of floor area. It is also called FSI.
Example: A 500 sq yd plot with FAR 1.75 allows 875 sq yd of total built-up floor area.
Agent tip: Higher FAR means more units on the same land. Check the FAR actually granted to the project.
Related: Floor Space Index (FSI) Ground Coverage Development Control Regulations (DCR)
A drawing showing the layout and dimensions of rooms in a unit, as approved by the competent authority.
Example: A buyer compares the brochure floor plan with the sanctioned floor plan and finds a smaller balcony.
Agent tip: Always compare with the sanctioned plan, not the sales brochure.
Related: Sanctioned Plan Carpet Area
Also called: Floor Rise
An extra charge per sq ft for each floor above a base floor, because upper floors are in demand.
Example: A builder charges ₹30 per sq ft for each floor above the 5th.
Agent tip: Check how floor rise is calculated and if it is shown in the agreement.
Related: Basic Sale Price (BSP) Preferential Location Charges (PLC)
Another name for FAR, used in Maharashtra and other states. It limits total built-up floor space relative to the plot.
Example: A Mumbai plot with FSI 1.33 can have 1.33 times its area as floor space before premium or TDR.
Agent tip: Know FSI, FAR, TDR and premium FSI. A project that exceeds them is illegal.
Related: Floor Area Ratio (FAR) Fungible FSI Transferable Development Rights (TDR)
Also called: Fly Ash Brick Masonry
A brick made from fly ash, a waste product of coal power plants, mixed with sand and cement or lime. It is uniform in size and uses less topsoil than burnt clay brick. Many states and green building rules encourage its use.
Example: A builder in Zirakpur used fly ash bricks for the partition walls and saved on plaster because the faces were even.
Agent tip: Check that the bricks are cured and not freshly cast. Wet, young bricks shrink and cause hairline cracks.
Related: Green Building Pucca Construction Autoclaved Aerated Concrete (AAC) Block
The share of monthly income that goes towards fixed payments such as EMIs and card dues. Banks use it to decide how much they will lend.
Example: With a monthly income of ₹1 lakh and a FOIR cap of 50%, total EMIs should stay under ₹50,000.
Agent tip: Reduce other loans before applying to raise the loan amount.
Related: Home Loan Credit Score (CIBIL)
The planned schedule of contacts with a prospect after a first meeting, such as a message the same day, a call after two days and a visit invitation within the week. A steady rhythm keeps interest without annoying the buyer.
Example: After a visit, an agent sends the price sheet the same evening, calls in two days and shares a loan estimate next week.
Agent tip: Log every follow-up with its date and outcome in your CRM. Stop contacts if the client asks.
Related: CRM Lead Sales Funnel
A contract clause that excuses a party from liability for events beyond its control, such as natural disasters or war. Under RERA, the promoter's registration can be extended by up to one year for force majeure.
Legal basis: Defined in Section 6 of the RERA Act, 2016.
Example: A flood delays construction. The builder claims force majeure to extend the possession date.
Agent tip: Check how the agreement defines force majeure. Builders sometimes use it to cover ordinary delays.
The process by which a lender takes possession of mortgaged property when the borrower defaults. The term is also used for closing a loan early.
Example: After repeated defaults, the lender enforces its security under SARFAESI.
Agent tip: Do not confuse foreclosure of the property with foreclosing (closing) a loan.
Related: SARFAESI Act Prepayment
Also called: BNS 336, IPC 465, Jaali Dastavez
The offence of making a false document, such as a forged deed, signature or stamp, to cause damage or take property. Forgery and the use of forged documents are punishable under the Bharatiya Nyaya Sanhita, replacing the earlier IPC provisions.
Legal basis: Bharatiya Nyaya Sanhita, 2023, Section 336 (earlier IPC Section 465 and related sections).
Example: A fraudster in Gurugram uses a forged power of attorney to sell a NRI's plot, and the registrar's records are later corrected after a police case.
Agent tip: Verify identity and the power of attorney at the registrar. Forged papers cause some of the biggest property frauds.
Related: General Power of Attorney (GPA) Benami Transaction Sub-Registrar Title Search
Also called: TDS Certificate for Property
The TDS certificate that a buyer must give the seller after depositing tax deducted on a property purchase. The buyer downloads it from the tax portal, and the seller needs it to claim credit for the tax.
Example: Seller Vimla asks her buyer for Form 16B so the 1% already paid shows in her tax records.
Agent tip: Remind buyers to download and hand over the certificate promptly, because sellers need it when filing their return.
Also called: 26QB
The statement-cum-challan that a buyer files to deposit tax deducted at source when buying a property worth the threshold amount or more. The buyer files it online and pays the tax, without needing a TAN.
Legal basis: Linked to the TDS on immovable property purchases under Section 194-IA of the Income-tax Act, 1961; the 2025 Act renumbers this.
Example: Rohit pays a seller ₹80 lakh for a flat and deducts 1% as tax, then pays it using Form 26QB with both parties' PAN.
Agent tip: The buyer must file within 30 days after the end of the month of deduction. Missing the deadline attracts a fee and interest.
Related: TDS on Property Purchase Form 16B Lower Deduction Certificate
Also called: Shuttering, Centering
Temporary moulds, made of timber, steel or aluminium, into which wet concrete is poured to give columns, beams and slabs their shape. They are removed once the concrete has gained enough strength. Formwork type affects speed and surface finish.
Example: A developer in Greater Noida switched to aluminium formwork so that each floor of a tower could be cast in a few days.
Agent tip: Ask when formwork is removed. Stripping too early is a known cause of sagging slabs and cracks.
Related: Slab Monolithic Construction Curing
The base of a building that transfers its weight to the soil. Type and depth depend on soil conditions, height and load.
Example: A tall tower on soft soil needs a deeper foundation than a two-storey house.
Agent tip: For plots with a history of waterlogging or filled land, ask for a soil test report.
Related: Pile Foundation Raft Foundation Plinth
A model in which many investors own a share in a commercial property through a pooled structure. In India SEBI has created the SM REIT framework for such pooled structures. Platforms outside a SEBI registration may not be lawful.
Example: Ten investors pool ₹10 lakh each to buy a share of an office leased to a company.
Agent tip: Ask whether the platform is registered with SEBI before you recommend it.
Also called: Prevention of Fragmentation, Tukde Bandi
The splitting of farmland into very small pieces, handled by state laws that set a minimum area below which agricultural land cannot be divided or sold. Such rules aim to keep farms usable.
Example: A broker plans to sell a 1-acre field in 8 slices to different buyers. The state's fragmentation law bars such sales below its minimum area, so the deeds are in danger.
Agent tip: Do not buy a tiny cut from a farm without checking the state's minimum-holding or fragmentation rule. The registration may be refused, or the sale may not be valid.
Related: Consolidation of Holdings Agricultural Land Plot Land Reforms
A building whose load is carried by a frame of beams and columns, with walls only as infill. Most modern apartments are framed structures.
Example: A 15-storey tower is a framed RCC structure.
Agent tip: Framed structures allow flexible layouts but not removal of structural elements.
Related: Load-Bearing Structure RCC (Reinforced Cement Concrete)
Paying stamp duty on a document at a bank or authorised centre, which marks it as duly stamped. It is an alternative to buying stamp paper in some states.
Example: A buyer pays stamp duty at an authorised franking centre.
Agent tip: Check what each state allows: franking, e-stamping or physical stamp paper.
Related: Stamp Paper e-Stamping Stamp Duty
Also called: Sham Transfer, Section 53 Transfer
A transfer of property made to defeat or delay the creditors of the seller. Under the Transfer of Property Act, such a transfer can be cancelled at the creditors' request, unless it was made in good faith and for value.
Legal basis: Transfer of Property Act, 1882, Section 53.
Example: A businessman owing a large loan gifts his house to his wife days before the lender sues. The lender asks the court to set the gift aside.
Agent tip: Be cautious when a seller is in debt and sells quickly below the market price. The sale can be challenged by creditors.
Related: Transfer of Property Act, 1882 Bona Fide Purchaser Gift Deed Insolvency
Property in which the owner holds the land and building outright with no time limit and no ground rent to a superior owner.
Example: A freehold plot in a private colony can be sold or mortgaged without the lessor's permission.
Agent tip: Freehold is generally preferred by buyers and banks. Check the status in the title papers.
Related: Leasehold Property Title
The width of a plot along the road it faces. A wider frontage usually gives a higher price, and local building rules set limits on frontage and setbacks.
Example: Two 150 sq yard plots in a sector may differ in value because one has a 30 ft frontage and the other has 20 ft.
Agent tip: For commercial plots and SCOs, frontage often matters more than total area. Quote it with the plot size.
Related: Plot Area Setback Corner Plot
Also called: Sale Consideration
The total amount received or receivable for transferring a property, which is the starting point to compute capital gains. If the sale price is lower than the stamp duty value, the stamp duty value may be treated as the consideration.
Legal basis: Section 48 of the Income-tax Act, 1961 and the stamp duty value rule in Section 50C (Section 78 of the 2025 Act).
Example: A seller in Mohali sells at ₹90 lakh, while the stamp duty value is ₹1.1 crore, so the tax computation may use a figure above the price actually paid.
Agent tip: Always compare the agreed price with the stamp duty value before signing. The gap can create tax for both sides.
Related: Stamp Duty Value Capital Gains Section 56(2)(x) Difference Tax
Also called: Fungible Compensatory Area
A compensatory allowance of additional floor space in Mumbai, tied to areas such as balconies and ducts, that lets developers enlarge units within limits. Part of it may need a premium under the municipal rules.
Example: A Mumbai developer uses fungible FSI to enlarge flats in a tower, paying any premium the rules require.
Agent tip: Fungible FSI explains why some Mumbai flats exceed the base FSI. Check that any premium due was paid.
Related: Floor Space Index (FSI) Transferable Development Rights (TDR)
A western Hyderabad area adjoining the Financial District, known for IT campuses, universities and a large pool of residential projects. It is widely considered part of the city's corporate belt.
Example: A professional compares renting in Gachibowli with buying farther out and weighs the daily commute.
Agent tip: Look at the actual status of the building permissions and the RERA registration, not just the address.
Related: HITEC City HMDA TGRERA (Telangana) Rental Yield
Land recorded as not fit for cultivation, such as paths, ponds, wells or village roads, in the revenue records of several northern and western states.
Example: A plot marked "gair mumkin" in the Jamabandi cannot be sold for housing without the proper change of status.
Agent tip: Refuse deals on land that shows gair mumkin unless the record has been changed in the proper manner.
Related: Jamabandi Agricultural Land Change of Land Use (CLU)
Plot area unit used across north India, where 1 gaj equals 1 square yard (9 sq ft or about 0.836 sq m). Residential plots in Punjab, Haryana, Delhi and Uttar Pradesh are often sold in gaj.
Example: A 250 gaj plot is 2,250 sq ft.
Agent tip: Buyers from other states confuse gaj with sq ft. State the conversion clearly: 1 gaj = 9 sq ft.
Related: Plot Area Marla Square Foot
A small industrial or commercial unit in Maharashtra, often a workshop or shop in an industrial estate or market.
Example: A buyer in Mumbai purchases an industrial gala of 400 sq ft.
Agent tip: Check whether the gala is approved for industrial or commercial use.
Related: Industrial Plot Warehouse
Also called: Gavthan, Gaon Thana
The village settlement area in Maharashtra, set aside for homes and village use and kept separate from farmland. Plots there are usually shown on a property card and are exempt from agricultural assessment, so an NA order is not needed inside the gaothan limits.
Example: A buyer in a village near Pune finds that the plot lies inside the gaothan, so no NA order is needed, but the village panchayat records must show the seller's name.
Agent tip: Check the gaothan record and the panchayat assessment extract. Loans for gaothan houses are easier when the property card is clear.
Related: Abadi Deh Property Card Panchayat NA (Non-Agricultural) Order
A ground-floor flat with a private garden or lawn attached, often sold at a premium. The garden may be a sold area or an exclusive-use area of the common land, which should be spelt out in the agreement.
Example: A buyer in a Zirakpur society picks a ground-floor garden apartment with a 300 sq ft private lawn for her elderly father.
Agent tip: Clarify whether the garden is part of the sold area or only a right to use, and whether it is charged by area.
Related: Apartment Flat Terrace Area
The number of a land parcel in Uttar Pradesh revenue records. A khata groups the gatas held by the same holder.
Example: A deed gives "Khata 218, Gata 340". The same numbers should appear in the khatauni.
Agent tip: Always check gata and khata together.
Related: Khatauni Survey Number
A residential project with controlled access, a boundary wall and shared services such as security and landscaping.
Example: A gated community of 500 homes has a main gate, guard room and visitor management.
Agent tip: Ask about maintenance charges and who runs the society. A gated community without a registered society is a problem in the long run.
Related: Villa Society Charges Resident Welfare Association (RWA)
A POA giving broad authority to act in many matters for the principal. For property, buyers should be careful. A GPA sale does not transfer title.
Legal basis: The Supreme Court in Suraj Lamp and Industries v. State of Haryana (2011) held that GPA sales and similar arrangements do not transfer ownership.
Example: A seller offers a flat through a registered GPA. The buyer insists on a registered sale deed in the seller's name.
Agent tip: Do not recommend GPA-based purchases. They carry title, stamp duty and tax risks.
Related: GPA Sale Power of Attorney (POA) Sale Deed
An industrial and residential city in western Uttar Pradesh on the eastern edge of Delhi, within the NCR. Property talk here usually covers Indirapuram, Raj Nagar Extension, Vaishali and areas along the Delhi-Meerut RRTS corridor.
Example: Sunita works in Delhi and compares flats in Ghaziabad near a metro station against similar flats farther away, checking commute times by train.
Agent tip: Within Ghaziabad the approving body differs by locality (development authority or private colony rules). Verify the authority and RERA registration for the specific project.
Related: NCR (National Capital Region) UP-RERA Regional Rapid Transit System (RRTS) Metro Rail
Also called: Gujarat International Finance Tec-City
Gujarat International Finance Tec-City, a planned business district near Gandhinagar that hosts India's first operational International Financial Services Centre. It has special regulatory arrangements for financial units, and offices and housing are being built there.
Example: A fund manager checks the office rules in GIFT City and learns that the financial entity rules are different from those in the rest of Gujarat.
Agent tip: Rules for units inside the IFSC and rules for the wider area differ. Check which notification applies to a specific building or use.
Related: Special Economic Zone (SEZ) Office Space Township (Integrated) GujRERA
Also called: Hibbanama, Dan Patra
A document by which an owner transfers property to another person without payment. A gift of immovable property must be in writing, signed and registered, and the donee must accept it.
Legal basis: Transfer of Property Act, 1882 (Sections 122 and 123).
Example: A father gifts a flat to his son through a registered gift deed. Stamp duty rates for gifts to close relatives are lower in many states.
Agent tip: Check the family-relation concessions in the state stamp law. Tax treatment differs for gifts from relatives.
Related: Registration (Property) Stamp Duty Will
A record of crops and possession kept by the revenue department in northern states, showing who actually cultivates a field each season.
Example: A girdawari shows a tenant farming a plot that the seller claims is empty.
Agent tip: Girdawari helps to confirm who is in possession. A mismatch can signal a dispute.
Related: Khewat and Khatoni Jamabandi Patwari
The Greater Mohali Area Development Authority, the development authority for Mohali (SAS Nagar), Zirakpur, Kharar and nearby areas of Punjab. It plans, approves and develops residential and commercial areas.
Example: A plot buyer in a Mohali sector checks that the plot is in a GMADA-approved layout.
Agent tip: Verify the approval on GMADA's records, not only the builder's brochure.
Related: Development Authority PUDA Approved Layout
The Goa Real Estate Regulatory Authority, which regulates projects and agents in Goa.
Example: A buyer in North Goa checks a villa project on the Goa RERA portal.
Agent tip: Check the zone and coastal status of the land.
Also called: Gauchar, Charagah, Gomal
Village land set aside for common grazing of cattle, protected as community land by the gram panchayat in most states. Gochar land cannot normally be sold or used for building, and encroachments can be removed.
Example: A broker sells a roadside field near Mehsana which the 7/12 shows as gochar. After a complaint, the panchayat removes the fence.
Agent tip: Never buy land recorded for grazing or common use. The panchayat can reclaim it, and the buyer loses the money.
Related: Gair Mumkin Shamlat Deh Panchayat Revenue Record
A sale of property through a General Power of Attorney and related documents instead of a registered sale deed. The Supreme Court has held that it does not transfer ownership.
Legal basis: Suraj Lamp and Industries v. State of Haryana (Supreme Court, 2011).
Example: A seller offers a plot through an agreement, a GPA and a will. The buyer insists on a registered sale deed.
Agent tip: Avoid GPA sales. Banks do not lend against them and the title remains with the seller.
Related: General Power of Attorney (GPA) Sale Deed Registration (Property)
Extra time allowed in an agreement before a delay counts as a breach, often used in builder agreements for possession. The length and fairness of the period depend on the agreement and RERA rules, so read its wording carefully.
Example: An agreement allows a six-month grace period after the promised date. The buyer disputes it before the RERA authority.
Agent tip: Check whether a grace period is in the agreement and whether the RERA registration date already includes it.
Related: Possession Date Delay Interest Builder-Buyer Agreement
A modern office building with good location, strong specifications, central air-conditioning, backup power and professional management. Grading is a market convention, not a legal category.
Example: A multinational leases floors in a Grade A tower in Gurugram.
Agent tip: Ask the broker to state the criteria used for the grade.
Related: Office Space Pre-Leased Property
The Act lets the Authority recommend a system of rating promoters and projects, for example on delivery record or compliance. Whether a state publishes grades depends on its own rules and practice, so a buyer should not assume every portal shows one.
Legal basis: Section 32 of the RERA Act, 2016.
Example: A state portal publishes a compliance score for each registered project, and a buyer compares two Kharar projects before booking.
Agent tip: Use any official grade as one input beside site visits, approvals and delivery history. Never present a grade as a guarantee.
Related: Section 32 (RERA) Quarterly Update Defaulter Promoters List
A body created under the Greater Bengaluru Governance Act to oversee civic governance in Bengaluru. It replaced the BBMP in 2025, with the city divided among several city corporations that handle local services, taxes and building approvals.
Legal basis: Greater Bengaluru Governance Act, 2024.
Example: A buyer in Bengaluru finds that old property papers refer to the BBMP and asks which city corporation now covers the ward.
Agent tip: Old documents may still cite the BBMP. Confirm which corporation and ward now apply before paying tax.
Related: BBMP Municipal Corporation Khata (Karnataka)
The authority that plans and allots land in Greater Noida in Uttar Pradesh, including residential, commercial and industrial plots. Many builders buy land from it on lease, and buyers should check dues and transfer rules.
Example: A Greater Noida buyer checks whether the builder paid the authority's lease dues before the flat is registered.
Agent tip: For authority-leased land, ask for a no-dues certificate. Unpaid dues can delay registration.
Related: NOIDA No Dues Certificate Leasehold Property
Also called: Noida Extension
A large residential belt in Gautam Buddh Nagar, Uttar Pradesh, west of Greater Noida and part of the NCR. It is known for many high-rise group housing projects and is officially described by the Greater Noida authority's sectors and villages, not by a single master-planned name.
Example: Rohit, an IT employee in Ghaziabad, shortlists a few towers in Greater Noida West and asks each promoter for the UP-RERA number and the authority's approved layout.
Agent tip: The area is dense with projects of very different delivery records, so compare possession history, not just brochures. Confirm which authority's plan covers the exact land.
Related: NCR (National Capital Region) UP-RERA NOIDA Micro-market
A zone around or within a city in which construction is banned or severely limited, to protect open space.
Example: A plot in a green belt cannot be used for housing.
Agent tip: Check the master plan zone for any plot offered near the city edge.
Related: Zoning (Land Use Zone) Master Plan
A building designed to use less energy, water and materials. Ratings in India include IGBC, GRIHA and LEED.
Example: A project advertises an IGBC Gold rating for its energy and water systems.
Agent tip: Check that the rating is certified, not just claimed.
A project built on land that has not been developed before, often outside the city. It offers modern planning but may lack nearby infrastructure.
Example: A developer builds a township on farmland on the city's edge.
Agent tip: Check the plans for roads, water and power connections.
Related: Brownfield Project Township (Integrated)
Also called: Green Rating for Integrated Habitat Assessment
A national rating system, run by the GRIHA Council with support from the Ministry of New and Renewable Energy, to judge how environmentally friendly a building is. Scores come from site planning, water, energy, waste and materials, and stars are awarded.
Example: A government campus in Madhya Pradesh earned a five-star GRIHA rating for its efficient design and on-site waste treatment.
Agent tip: GRIHA and IGBC are different systems. Do not treat their ratings as interchangeable when comparing projects.
Related: Green Building IGBC Rating Energy Conservation Building Code (ECBC)
Also called: GDV
The total revenue a developer expects from selling all units in a project at the planned prices. Lenders and investors compare it with the cost of land, construction, finance and approvals to judge viability.
Example: A developer in Panchkula expects to sell 120 flats at an average of ₹1 crore, so the project's GDV is ₹120 crore.
Agent tip: GDV is an estimate. Ask what price and sales speed it assumes.
Related: Residual Land Value Method Joint Development Agreement (JDA) Break-Even Point
The percentage of a plot that the building footprint may cover at ground level. It differs from FAR, which limits total floor area.
Example: With 60% ground coverage a 200 sq yard plot allows a 120 sq yard footprint.
Agent tip: Use ground coverage and setbacks to estimate how much a plot can really be built.
Related: Floor Area Ratio (FAR) Setback
A land unit used in Chennai and Tamil Nadu. One ground is 2,400 sq ft. Plots in Chennai are commonly priced per ground.
Example: A 1.5 ground plot in Chennai is 3,600 sq ft.
Agent tip: Do not confuse "ground floor" with "ground" as a unit when speaking to Chennai buyers.
A large plot sold by a development authority for building multi-storey apartments by a developer or a co-operative group, as against single-family plots. Conditions cover density, coverage, time limits and the right to sell flats.
Example: A developer wins an auction for a group housing site in a Mohali sector and plans 300 apartments on it.
Agent tip: Check payment status with the authority and construction deadlines, since delay can cost the developer the site.
Related: Cooperative Group Housing Plot Development Authority
Also called: गृहनिर्माण संस्था, Housing Society
A Marathi term for a housing society, usually a co-operative one registered under the state's co-operative law. People use it in documents and society nameboards across Maharashtra.
Example: A buyer in Pune sees "Shree Ganesh Gruh Nirman Sanstha" on a board and asks for the society's share certificate.
Agent tip: Ask for the registration certificate, bye-laws and share certificate when buying in a society.
Related: Co-operative Housing Society Share Certificate Deemed Conveyance Resident Welfare Association (RWA)
Goods and Services Tax charged on commission for property services if the agent is liable to be registered under GST. Whether an agent must register depends on turnover limits and the notified rates at the time. Check the latest rules with a tax professional.
Example: An agent whose yearly commission crosses the registration limit must register for GST and add tax on invoices.
Agent tip: Track your turnover each month so you register on time. Late registration brings penalties.
Also called: GST on Society Maintenance
GST that applies to monthly maintenance charged by an RWA or housing society to its members when charges exceed the exemption limit per member per month. Within the limit, the charges are exempt. Above it, the whole amount can be taxed.
Legal basis: Notifications under the CGST Act, 2017; the limit has been revised before, so check the current one.
Example: A society in Mohali charges ₹9,000 a month per flat, which crosses the exempt limit and attracts GST on the whole amount.
Agent tip: Residents should ask the committee about the exemption rule and registration status before disputing the bill.
Related: Resident Welfare Association (RWA) CAM Charges GST on Real Estate
Also called: GST on Property, GST on Flats
Goods and services tax on property sales. Under-construction residential units attract an effective 5% (1% for affordable housing) without input tax credit, with a standard land deduction already built into the rate. A sale made after the completion certificate or first occupation attracts no GST only if the whole price is received after that date. Instalments paid earlier remain taxable.
Legal basis: GST rates for real estate were set in 2019 and unchanged for builders after the September 2025 rate reforms. Check current notifications.
Example: A buyer of an under-construction ₹80 lakh flat pays 5% GST. For a ready flat bought entirely after the completion certificate, no GST is charged, but instalments paid before it are taxable.
Agent tip: Ask for the GST break-up on the cost sheet, and confirm whether the project is ready or under construction.
Related: Input Tax Credit (ITC) Affordable Housing Completion Certificate (CC)
GST on renting commercial property is 18%. Renting a residential property to a registered person is taxed at 18% under reverse charge from 18 July 2022, while rent for personal residence is not taxed. Since 10 October 2024, a registered tenant paying rent for non-residential property to an unregistered landlord also pays under reverse charge.
Example: A company renting a flat for staff housing pays GST under reverse charge.
Agent tip: Commercial landlords above the turnover threshold must register. Check the rule for each client.
Related: Commercial Property Rent Agreement
Also called: GST on Ready-to-Move Flat
GST applies to the sale of a flat while it is under construction, but not once the completion or occupancy certificate has been issued before the sale. A buyer purchasing a completed flat does not pay GST on it.
Example: Ritu buys a flat in a project that already has its occupancy certificate, so there is no GST in her bill, while her friend booking in the same tower earlier paid GST.
Agent tip: Check the date of the completion certificate. It can decide whether your client pays GST at all.
Related: GST on Real Estate Occupancy Certificate (OC) Completion Certificate (CC)
A person who promises to repay if the borrower defaults.
Example: A bank asks a parent to be guarantor for a young borrower's loan.
Agent tip: Warn guarantors that they are liable.
Related: Co-borrower Home Loan
The name for the state-fixed minimum property value in Karnataka, used to calculate stamp duty and registration fee.
Example: A Bengaluru plot is registered at a price that must not be lower than the guidance value of that area.
Agent tip: Use the Kaveri portal or the sub-registrar to confirm the current value.
Related: Circle Rate Stamp Duty
The Gujarat Real Estate Regulatory Authority, which regulates projects and agents in Gujarat, including Ahmedabad and Surat.
Example: An Ahmedabad buyer checks a project on the GujRERA portal.
Agent tip: Gujarat uses the jantri for stamp duty valuation.
Related: RERA Authority Jantri
A land unit used in Maharashtra, Gujarat and Karnataka. One guntha equals 1,089 sq ft (33 ft by 33 ft), and 40 guntha make one acre.
Example: A farm of 20 guntha is half an acre.
Agent tip: Maharashtra 7/12 extracts often show area in hectare-are. Convert before quoting.
Related: Acre Satbara Utara (7/12)
Also called: Gurgaon
A major city in Haryana in the National Capital Region, with large residential and commercial development. HRERA Gurugram and the DTCP cover its projects.
Example: A buyer looks at a high-rise in Gurugram and checks HRERA registration.
Agent tip: Check licences, RERA numbers and the project's litigation record. Gurugram has many large projects.
Related: HRERA DTCP NCR (National Capital Region)
The Haryana body for planning and coordinating services across the Gurugram metropolitan area. It handles regional infrastructure such as roads and drainage, while colony licences remain with the state town planning department.
Example: A Gurugram buyer asks which body handles the main road beside the project and who maintains it.
Agent tip: Ask the builder who maintains the external roads and services. It affects day-to-day life.
A traditional large mansion with courtyards, found in Rajasthan, Punjab, Gujarat and Uttar Pradesh, often with decorated facades. Many are old, with joint family ownership, heritage rules or poor repair, so legal and structural checks matter.
Example: A buyer wants to convert an old haveli in Jaipur into a boutique hotel after checking heritage limits.
Agent tip: Verify ownership shares of all family members and heritage restrictions before negotiating.
Properties used for hospitals, nursing homes, clinics, diagnostic centres and medical offices. They need special approvals such as fire and bio-medical waste clearances and parking, and often long leases to the operator.
Example: A doctor group leases a three-storey building in Panchkula for a 40-bed hospital after fire and waste-disposal approvals are ready.
Agent tip: Check the building's permitted use and the approvals the operator will need. A residential building may not be usable as a hospital.
Related: Institutional Plot Fire NOC Built-to-Suit
A metric land unit equal to 10,000 sq metres, or about 2.47 acres. Government records and land acquisition notices commonly use it.
Example: A 5 hectare parcel is about 12.35 acres.
Agent tip: When a notification gives land in hectares, convert it to acres so Indian buyers can follow the scale.
Related: Acre Square Metre
A no-objection certificate from the Airports Authority of India for tall buildings near airports, to ensure they do not obstruct aircraft.
Example: A high-rise near an airport needs AAI clearance before construction.
Agent tip: Ask if a tall project is near an airport. The certificate limits the height.
A building or site of historical or architectural value, which may be protected by central, state or local rules. Protection can limit repairs, extensions, demolition and construction nearby, and approval may be needed from the heritage authority.
Legal basis: Protected monuments and nearby areas are regulated under the Ancient Monuments and Archaeological Sites and Remains Act, 1958.
Example: A buyer of an old haveli in a walled city learns that exterior changes need heritage committee approval.
Agent tip: Before showing a heritage property, ask whether it is listed and what repair or construction limits apply to it and to the area around it.
Related: Haveli Zoning (Land Use Zone) Redevelopment
Approval needed from a local heritage conservation committee to alter, rebuild or build near a listed heritage building or in a heritage precinct. It controls height, facade, materials and use to protect the area's character.
Example: An owner in old Jaipur needed the committee's nod before changing a facade facing the main street.
Agent tip: Buying in an old city core means extra approvals and slower renovations. Factor in time and cost.
Related: Archaeological Monument NOC (ASI NOC) Building Bye-Laws Redevelopment
Also called: Hibanama, Muslim Gift
A gift of property under Muslim personal law, which becomes complete when the donor declares the gift, the donee accepts it and possession is delivered. A gift of immovable property by a registered deed is often preferred in practice, to avoid disputes.
Example: A father in Hyderabad gifts a flat to his daughter. To avoid doubt, the family registers a gift deed, besides the declaration and the handing over of possession.
Agent tip: Even where personal law allows an oral gift, insist on a registered deed and proof of possession. It reduces later challenges.
Related: Gift Deed Registration (Property) Possession Waqf Property
Shops on a busy main road or market street, open to the pavement and not inside a mall. They give strong visibility and footfall and are favoured by brands, but depend on parking, road width and local rules.
Example: A café chain takes a 900 sq ft ground-floor shop on a busy main road in Chandigarh for its visibility from traffic.
Agent tip: Check road width, parking, signage rights and any commercial conversion charges before quoting a rent or price.
Related: Shop Showroom Frontage Commercial Property
Also called: HBU
The most profitable and lawful use of a piece of land that is physically possible and financially worthwhile. Valuers use it to decide what a site is worth, which may differ from how it is used now.
Example: A petrol-pump-sized corner plot in an upcoming sector is valued as a commercial site because zoning allows shops, not as a residential plot.
Agent tip: Check zoning and permitted use before assuming a plot can earn more as a different use.
Related: Zoning (Land Use Zone) Floor Area Ratio (FAR) Market Value
A tall residential or commercial building, normally above a height set by local fire and building rules, which demands lifts, higher fire safety standards and deeper foundations. The height cut-off differs from state to state.
Example: A 32-storey tower in Gurugram needs a Fire NOC and a structural certificate that a four-storey building would not.
Agent tip: In high-rise projects check the Fire NOC, lift count and the stability certificate before recommending a unit.
Related: Fire NOC Structural Stability Certificate Apartment Height Clearance (AAI NOC)
Also called: HSA 1956
The law governing inheritance among Hindus, Buddhists, Jains and Sikhs when someone dies without a will. A 2005 amendment gave daughters the same rights as sons in joint family property. Property is inherited by heirs in classes fixed by the Act.
Legal basis: Hindu Succession Act, 1956, as amended in 2005.
Example: A man in Karnal dies without a will. His widow, two sons and a daughter each inherit an equal share in his self-acquired property, as the Act provides.
Agent tip: When a seller says an heir 'has no share', ask for a release or a registered partition. Daughters now share in family land.
Related: Coparcenary Intestate Succession Self-Acquired Property Legal Heir Certificate
A family unit of lineal descendants of a common ancestor, treated as a separate taxpayer for income tax. Ancestral property can be held by an HUF.
Legal basis: Hindu Succession Act, 1956, as amended in 2005, gives daughters equal coparcenary rights by birth, a point confirmed by the Supreme Court in Vineeta Sharma v. Rakesh Sharma (2020).
Example: An ancestral house is held by an HUF. All coparceners, including daughters, have a right to it.
Agent tip: In a family property sale, ask who the coparceners are and whether they have all consented.
A Pune suburb built around the Rajiv Gandhi Infotech Park, developed by MIDC. It is known for IT offices, rental housing near workplaces and big residential schemes, along with debates on roads and traffic.
Example: A newly hired analyst rents a flat in Hinjewadi and checks the walking distance to the office shuttle stop.
Agent tip: Rental demand follows office presence, so ask about traffic and shuttle options on a visit. Verify the project's PMRDA or local approvals.
Related: PMRDA Rental Yield Micro-market MahaRERA
Also called: Hyderabad Information Technology and Engineering Consultancy City
A Hyderabad business district in Madhapur, developed in the late 1990s as a technology hub. It has office towers, shopping, and many apartment communities around it, and is a reference point for the western Hyderabad market.
Example: A developer's brochure mentions a project as "15 minutes from HITEC City"; the buyer checks the real distance on a map.
Agent tip: Verify the listed distance and travel time yourself, since marketing often uses straight-line distance.
Related: Gachibowli Office Space Micro-market HMDA
The Hyderabad Metropolitan Development Authority, which plans and approves layouts and buildings in the Hyderabad region.
Example: A buyer checks that a plotted layout has HMDA approval.
Agent tip: Verify the layout approval number.
Related: Development Authority Approved Layout
Also called: Carrying Cost
The ongoing costs of owning a property that is not generating enough income, such as property tax, maintenance charges, loan interest, insurance and repairs. They reduce the investor's return.
Example: Kamal owns an empty plot in Banur and pays boundary maintenance and property tax each year while waiting for prices to rise.
Agent tip: Include holding costs when calculating returns on plots and unlet flats. They can quietly eat the appreciation.
Related: Land Banking Capital Appreciation Return on Investment (ROI)
Also called: Period of Holding
The time between acquiring a property and selling it, used to decide whether a gain is short-term or long-term for income tax. For land and buildings, it must exceed 24 months for the gain to count as long-term.
Legal basis: Long-term status for immovable property depends on a holding of more than 24 months under the Income-tax Act; the 2025 Act carries this rule forward.
Example: Poonam books a flat in March 2023 and sells the allotment in April 2025, a gap of more than 24 months, so the gain is long-term.
Agent tip: Confirm with a chartered accountant the date from which the period counts, such as allotment or agreement. A few days can change the tax.
Related: Long-Term Capital Gains Short-Term Capital Gains Capital Gains
A second home in a resort town or hill station for vacations and occasional rental.
Example: A buyer in Kasauli purchases a small cottage for family holidays and weekend rental.
Agent tip: Hill-state land laws can restrict purchase by outsiders. Check the state rules.
Related: Farmhouse Agricultural Land
Also called: Self-Construction Loan
A loan to build a house on land the borrower already owns or has the right to build on. The bank releases money in stages as construction progresses, usually after an engineer inspects the work.
Example: Harbans owns a 250 square yard plot in Mohali and takes a construction loan, and the bank releases each tranche after its engineer inspects the plinth, the slab and the finishing stage.
Agent tip: Check that the building plan is sanctioned before applying. Most banks will not release funds without it.
Related: Sanctioned Plan Disbursement Pre-EMI
Also called: Home Renovation Loan, Home Extension Loan
A loan for repairing, renovating or extending a house the borrower already owns, such as painting, plumbing, flooring or adding a floor. It is repaid over a shorter period than a normal home loan and the rate is often higher.
Example: Lakhbir takes a loan to retile his ground floor and add a bathroom, and the bank pays the contractor in two instalments after inspecting the work.
Agent tip: Keep estimates and bills ready. Banks usually pay against quotations and check progress.
Related: Home Loan Disbursement Tenure
Also called: Housing Loan
A loan from a bank or housing finance company to buy, build or renovate a home, secured by a mortgage on the property. The buyer repays it as monthly instalments over a fixed tenure.
Example: A buyer takes a ₹50 lakh loan for 20 years at a floating rate and pays EMIs from salary.
Agent tip: Compare the rate, processing fee, prepayment terms and total interest. Do not choose by EMI alone.
Related: EMI (Equated Monthly Instalment) Loan-to-Value (LTV) Mortgage
The set of papers a bank asks for when giving a home loan, covering the borrower's identity, income and the property's title and approvals. Having them ready cuts the time from application to disbursement.
Example: Nisha in Bengaluru prepares her salary slips, bank statements, ID, the builder's allotment letter and title documents before applying for a loan.
Agent tip: Give your client a one-page checklist at the start. Missing property documents, such as a sanctioned plan, are the most common cause of delays.
Related: Home Loan Sanction Letter Disbursement Legal Title Report
The maximum loan a lender is willing to give, worked out from income, existing debts, age, job stability, credit score and the property's value. The bank usually checks the repayment burden against income and the loan against the property price.
Example: Ravi earns ₹1.2 lakh a month but already pays a car EMI. The bank approves less than he asked for because his existing obligations eat into his repayment capacity.
Agent tip: Let clients run eligibility before they shop for flats. A budget based on a realistic sanction avoids heartbreak later.
Related: FOIR (Fixed Obligation to Income Ratio) Credit Score (CIBIL) Loan-to-Value (LTV)
A life insurance cover that pays off the outstanding home loan if the borrower dies. A property insurance may cover the building against fire and other damage.
Example: A borrower takes a decreasing-term cover tied to the loan.
Agent tip: Compare standalone term insurance with the lender's package.
Also called: Section 24(b)
Under the old tax regime, interest on a home loan can be deducted up to ₹2 lakh a year for a self-occupied house. For a let-out house there is no cap on the interest, but set-off of the loss against other income is limited to ₹2 lakh. The new regime does not allow the self-occupied deduction.
Legal basis: Section 24(b) of the Income-tax Act, 1961. The Income-tax Act, 2025 applies from 1 April 2026 with new section numbers.
Example: A salaried buyer in the old regime claims ₹2 lakh of interest on a self-occupied flat.
Agent tip: The better regime depends on the client's other deductions. A chartered accountant can compare.
Related: Income from House Property Home Loan Principal Deduction EMI (Equated Monthly Instalment)
Also called: Home Saver Loan, Offset Loan, Overdraft Home Loan
A home loan linked to a current-type account where the borrower can park spare money. Interest is charged only on the loan balance minus the amount parked, so idle savings reduce interest while staying available to withdraw.
Example: Sunil, a trader in Zirakpur, keeps ₹6 lakh of surplus cash in his overdraft account and pays interest only on the remaining loan balance.
Agent tip: Useful for clients with irregular or seasonal cash. Compare the higher rate that such products often carry and the minimum balance rules.
Related: Home Loan Prepayment Floating Interest Rate
Also called: Section 80C
Under the old regime, repayment of principal on a home loan, and stamp duty and registration fee paid, can be deducted within the overall ₹1.5 lakh limit of Section 80C.
Legal basis: Section 80C of the Income-tax Act, 1961 (now Section 123 of the Income-tax Act, 2025). Stamp duty and registration fee count only in the year they are paid.
Example: A buyer's principal repayment and stamp duty together use up the ₹1.5 lakh limit.
Agent tip: Mention that the limit is shared with other investments such as PPF.
Related: Home Loan Interest Deduction Stamp Duty
A concrete defect where voids and exposed stones appear because the mix did not fill the formwork fully, often from poor compaction. It reduces strength and exposes steel to rust, so serious cases need repair.
Example: After the shuttering was removed, the engineer saw honeycombing at the base of a column and ordered it to be repaired with grout.
Agent tip: Visible honeycombing on columns or beams in a new building should be reported in writing and fixed under the defect liability clause.
Related: Defect Liability Period Column Structural Stability Certificate
A building or land parcel developed or leased to run a hotel, whether budget, business or luxury. Value depends on location, room count, brand, licences and trading record. Hotels are usually sold as running businesses or leased to an operator.
Example: An investor in Shimla buys a 28-room hotel building with its trade licences and a three-year lease to an operator.
Agent tip: Verify tourism, fire, food and excise licences along with the title. A hotel without them is hard to run or finance.
Related: Commercial Property Fire NOC Resort Property Built-to-Suit
A central government company that finances housing and urban infrastructure. It lends to state agencies and boards, which then develop housing and civic projects.
Example: A state housing board borrows from HUDCO to build a new housing colony.
Agent tip: HUDCO lends to agencies, not to individual homebuyers in most cases. A buyer's home loan comes from banks or housing finance companies.
Related: National Housing Bank (NHB) State Housing Board Housing Finance Company (HFC)
A non-bank lender that specialises in home loans, regulated by the Reserve Bank of India.
Example: A buyer takes a loan from an HFC instead of a bank.
Agent tip: Compare the HFC's rate, charges and customer service with banks.
The Real Estate Regulatory Authority, Himachal Pradesh, which regulates projects and agents in the state.
Example: A buyer in Solan checks a project on the HP RERA portal.
Agent tip: Himachal has strict rules on land purchase by non-residents. Check them before you sell.
Related: RERA Authority Jamabandi
The Haryana Real Estate Regulatory Authority. It regulates projects and agents in Haryana, with offices at Gurugram and Panchkula.
Example: A Panchkula buyer complains to HRERA about a delayed project.
Agent tip: Check which HRERA bench covers the district of the project.
Related: RERA Authority DTCP HSVP
Haryana Shehri Vikas Pradhikaran, the former HUDA, which develops and sells residential and commercial plots in Haryana sectors.
Example: A Panchkula buyer purchases an HSVP plot through an auction.
Agent tip: HSVP plots have conditions on construction time and transfer. Read the allotment letter.
Related: Development Authority Allotment Letter
Heating, ventilation and air conditioning. It covers systems that control temperature, fresh air and humidity inside a building. In Indian offices and malls it often means central chillers, ducts and air handling units, with separate running costs.
Example: An IT office in Gurugram pays a monthly HVAC charge per square foot, billed by its landlord for central air conditioning.
Agent tip: Read whether HVAC charges are included in maintenance or billed separately. This can add noticeably to monthly costs.
Related: MEP (Mechanical, Electrical and Plumbing) CAM Charges Grade A Office
A Telangana government agency set up in 2024 to protect public assets such as lakes, parks and government land in the Hyderabad region, and to respond to disasters. It has demolished structures on lake beds and encroached land.
Example: A buyer finds that a plot lies in a lake's full tank level, and the agency has acted on similar structures nearby.
Agent tip: Check for lake, drain and government land boundaries before buying near water bodies in Hyderabad.
Related: HMDA Unauthorized Construction Due Diligence
Also called: Indian Green Building Council Rating
A green building rating given by the Indian Green Building Council, part of the Confederation of Indian Industry. A project earns points for water, energy, materials, site and indoor quality, and receives a rating level such as certified, silver, gold or platinum, depending on the programme.
Example: A Hyderabad office park advertised an IGBC Gold rating after cutting water use and adding efficient lighting.
Agent tip: Ask for the certificate and check whether the rating is pre-certification (design stage) or final (after completion).
The registration department head in a state. In Maharashtra the IGR runs the online services for registration, Index II and stamp duty.
Example: A buyer in Maharashtra uses the IGR portal to search registered documents.
Agent tip: Check which state portal is used for registered documents.
Related: Index II Sub-Registrar Registration (Property)
Also called: Impounding of Instrument
The power of an authorised officer to take custody of a document that appears to be insufficiently stamped or unstamped. The document is held until the proper duty and any penalty are paid.
Legal basis: Section 33 of the Indian Stamp Act, 1899, and state stamp laws.
Example: A court notices an agreement for sale with too little stamp duty and sends it to the collector, who impounds it until the deficit is paid.
Agent tip: Pay the right stamp duty at the start. An impounded document can delay a sale or a court case.
Related: Deficit Stamp Duty Stamp Duty Stamp Paper
Also called: Inam, Inamdar Land, Watan Land
Land that was historically granted free of rent or at a reduced rent by a ruler or the government, for service, religious or charitable purposes. Many states have abolished the grants, but some inam lands still carry transfer restrictions.
Example: In Solapur, a plot is shown as inam land in the old records. The buyer's lawyer finds that the grant was abolished and the land regularised after the holder paid the due amount.
Agent tip: Ask for the order that abolished or regularised the inam. Without it, the seller may not have a transferable title.
Related: Occupancy Class II Land Revenue Record Title Marketable Title
Also called: Income Approach, Investment Method
A valuation method for income-producing property, which divides the net operating income by a capitalisation rate to find the value. It suits offices, shops, warehouses and rented buildings.
Example: A valuer divides a rented Panchkula showroom's yearly net income of ₹30 lakh by a capitalisation rate of 7.5% to get a value of ₹4 crore.
Agent tip: A small change in the cap rate changes the value a lot, so ask how it was chosen.
Related: Capitalisation Rate Net Operating Income (NOI) Pre-Leased Property
A head of income that taxes the annual value of a property, mainly rent. The owner gets a 30% standard deduction on net annual value and can claim home loan interest, subject to limits.
Example: A landlord earns ₹3 lakh in rent a year. After municipal taxes, he claims a 30% deduction on the net value.
Agent tip: Explain that self-occupied property has different treatment from rented property.
Related: Standard Deduction (House Property) Home Loan Interest Deduction
A document in which a party promises to compensate another for loss that arises from a specified risk, such as a missing original document.
Example: A bank asks the seller to give an indemnity bond if the original allotment letter is lost.
Agent tip: Use an indemnity only as a stop-gap. If the original is missing, look for a certified copy first.
Related: Affidavit Title Deed
A stand-alone house built on a plot owned by the buyer. The buyer owns both the building and the land.
Example: A 10 marla independent house in Mohali comes with a full plot and no common society charges.
Agent tip: Check the building plan, completion certificate and mutation. Independent houses are often unapproved extensions.
Related: Villa Plot Completion Certificate (CC)
A Maharashtra registration department extract showing the details of a registered document, including parties, property description, price and stamp duty paid. It helps verify past transactions.
Example: A buyer checks Index II extracts to see what price was paid on the last sale of a flat.
Agent tip: Use Index II to confirm past registered transfers and the consideration shown.
Adjusting the purchase cost of an asset for inflation using the Cost Inflation Index, so that tax is levied only on the real gain. For property it now applies only under the optional 20% route for resident individuals and HUFs on property acquired before 23 July 2024.
Example: A flat bought in 2012 has its cost raised by the index figures before the gain is calculated.
Agent tip: Ask when the client bought the property. Date of purchase decides whether the indexation option exists.
Related: Long-Term Capital Gains Capital Gains
The law that governs contracts, including agreements to sell property. A valid contract needs offer, acceptance, consideration, capacity and free consent.
Example: A contract signed under pressure can be void or voidable.
Agent tip: Know the basics when you advise on advance payments and cancellation.
Also called: Succession Act
The law on how property passes at death by will or without a will, for many communities. It sets rules on how wills are made, probate and letters of administration, and who inherits, although Hindus, Muslims and others are governed in part by their own laws.
Legal basis: Indian Succession Act, 1925.
Example: A Christian widow in Bengaluru needs to prove her late husband's will and applies for probate under this Act.
Agent tip: Ask which law governs the deceased's religion and property before relying on a family claim. It decides who the heirs are.
Related: Will Probate Succession Certificate Intestate Succession
A major city of Madhya Pradesh known as a commercial and educational centre, with new townships, a metro in progress and an investment-promotion push. Super corridor and bypass areas are often discussed for plotted development.
Example: An investor from Bhopal visits Indore to see a plot near the Super Corridor, and checks that the colony is approved.
Agent tip: Madhya Pradesh has many unauthorised colonies, so ask for the approved layout and the MP RERA registration.
Related: MP RERA Approved Layout Plotted Development Colony
A planned belt of industrial nodes, transport links and supporting townships developed along a major rail or road route. It aims to attract factories and logistics, and the land around it often sees speculative interest.
Example: A land buyer hears that a new corridor will pass near his village and asks the district office whether acquisition has been notified.
Agent tip: Speculation can outrun reality. Rely on notified alignments and master plans, not on rumours or sketches.
Related: Delhi-Mumbai Industrial Corridor (DMIC) Industrial Plot Master Plan Land Acquisition (RFCTLARR Act, 2013)
Also called: Industrial Area, Industrial Park
A planned industrial area developed by a state agency or private developer, with plots, roads, water, power and drainage, where manufacturing units are set up. Plots are normally allotted under rules with building and use conditions.
Example: Entrepreneurs apply for plots in an industrial focal point near Mohali developed by a state agency.
Agent tip: Read the allotment terms, including time limits to start production. Failure can lead to resumption of the plot.
Related: Industrial Plot Industrial Shed Development Authority Special Economic Zone (SEZ)
A plot in an industrial area reserved for factories, godowns and related activity. Development authorities allot plots with specific use conditions and time limits for construction.
Example: A buyer in a Lalru industrial area must start construction within the period set in the allotment letter.
Agent tip: Check the authority's rules on transfer, change of use and construction deadlines.
Related: Warehouse Allotment Letter Dormant Plot
Also called: Factory Shed
A single-storey factory or workshop structure with a high roof and large open floor, built on an industrial plot for manufacturing or storage. Sheds can be sold or rented, with or without power load, and may be pre-engineered steel buildings.
Example: A small engineering unit rents a 6,000 sq ft shed in Dera Bassi with three-phase power and truck access.
Agent tip: Ask for the sanctioned power load and pollution clearance status, because a new tenant cannot start work without them.
Related: Industrial Plot Industrial Estate Warehouse Derabassi
A court order that stops a party from doing something, or requires them to do something. It is often used to stop the sale or construction of a disputed property.
Legal basis: Specific Relief Act, 1963 and Civil Procedure Code, 1908.
Example: A court orders a seller not to sell a plot until the dispute with a co-owner is decided.
Agent tip: Always check for court orders on a property.
Related: Civil Court Litigation Check Lis Pendens
Also called: Pre-Approved Loan, Loan Pre-Approval
A lender's early indication that it is ready to lend a certain amount, based on the borrower's income and credit check but before the property has been legally and technically reviewed. It is not a final sanction and can be changed or withdrawn.
Example: Before visiting sites in Kharar, Simran gets an in-principle approval of ₹55 lakh, which tells her which projects she can seriously consider.
Agent tip: Present the approval to builders as proof of seriousness, but remind buyers that the final sanction depends on the property papers.
A credit for GST paid on inputs, set against GST payable on outputs. Builders of residential projects at the standard 5% and 1% rates cannot claim ITC on those sales.
Example: A builder who has opted for the 5% rate cannot adjust GST paid on cement and services against its liability.
Agent tip: When a builder says "GST without ITC", it means the lower rate is charged and the builder bears the cost of inputs.
Related: GST on Real Estate
A state in which a debtor cannot pay debts. Homebuyers are treated as financial creditors under the Insolvency and Bankruptcy Code, 2016, and a group of at least 100 allottees or 10% of the allottees in the same project, whichever is less, can start proceedings.
Legal basis: Insolvency and Bankruptcy Code, 2016, as amended in 2018 and 2020.
Example: Allottees of a stalled project file together under the Code against the developer.
Agent tip: Insolvency is a last resort. It can delay possession further, so advise carefully.
Related: NPA (Non-Performing Asset) Delay Interest
Also called: Institutional Site
Land earmarked by a development authority for schools, hospitals, colleges, places of worship, community halls and similar uses. Allotment is normally by auction or reservation, with conditions on use and transfer.
Example: A trust wins an auction for an institutional plot in a Mohali sector to build a school, and may not use it for housing.
Agent tip: Resale or change of use is often restricted. Read the allotment conditions before presenting such a plot to a buyer.
Related: Plot Zoning (Land Use Zone) Change of Land Use (CLU) Development Authority
A buyer who delays a payment due under the agreement must pay interest at the rate set by the state rules. The rate is the same one the promoter pays on delays, so the interest rule works both ways.
Legal basis: Section 19(7) of the RERA Act, 2016; Section 2(za).
Example: A buyer pays an instalment 40 days late in Kharar and is charged interest at the same rate the promoter would owe on a delay.
Agent tip: Check the agreement for any higher late-payment rate. The RERA rate is the benchmark.
Related: Delay Interest Section 19 (RERA) Demand Letter
Also called: Rate Reset, Reset Date
The date on which a floating-rate loan is repriced to match the benchmark. At reset, the lender changes the rate, and then either the EMI or the remaining tenure adjusts. RBI expects lenders to explain the change and offer the borrower a choice.
Example: Mehul's loan resets every three months. When the rate rose, his bank stretched the tenure by 14 months instead of raising the EMI, and he asked to switch to a higher EMI.
Agent tip: Check the reset frequency and who decides between a longer tenure and a higher EMI. Ask for a statement after every reset.
Related: Floating Interest Rate EMI (Equated Monthly Instalment) Tenure
Also called: Spread, Lender's Margin
The fixed margin a lender adds to a benchmark rate to arrive at the home loan rate. The spread covers the lender's costs, risk and profit, and it often depends on the borrower's credit score, loan size and profession.
Example: Two buyers borrow from the same bank in Pune. One has a score above 780 and gets a lower spread, so her rate is lower than her neighbour's by a quarter of a percent.
Agent tip: Tell clients to ask for the spread in writing and to check whether it can be reduced later for a good repayment record.
Related: External Benchmark Lending Rate (EBLR) Credit Score (CIBIL) Floating Interest Rate
Also called: PMAY-U 2.0 ISS, PMAY Urban 2.0
The home-loan support part of the urban Pradhan Mantri Awas Yojana 2.0. It offers a government interest subsidy on a limited loan amount to eligible buyers from economically weaker, lower and middle income households, within house-price and income caps.
Legal basis: Guidelines of the Ministry of Housing and Urban Affairs for PMAY-Urban 2.0. The older CLSS stopped taking new beneficiaries earlier.
Example: Under the current guidelines a household with income up to ₹9 lakh buying a home worth up to ₹35 lakh may get a 4% subsidy on the first ₹8 lakh of the loan, released in instalments while the loan stays active.
Agent tip: Rules and cut-off dates change, so check the official portal and the lender before promising any subsidy to a client.
Related: Pradhan Mantri Awas Yojana (PMAY) Credit Linked Subsidy Scheme (CLSS) Affordable Housing
Charges for infrastructure inside a colony such as internal roads, drains and parks, usually paid by the developer or collected from buyers as per the scheme.
Example: An allotment letter lists IDC along with the plot price.
Agent tip: Ask which charges are in the quoted price.
The yearly return rate that makes the present value of all cash inflows and outflows from an investment equal to zero. It considers the timing of each payment.
Example: An investor compares two projects, one with rent plus a sale after five years, and picks the higher IRR.
Agent tip: IRR helps compare projects with different payment timelines.
Related: Return on Investment (ROI) Rental Yield
Also called: Succession Without Will, Dying Intestate
The passing of a person's property by law, when the owner dies without a valid will. The heirs and their shares depend on the deceased's religion and the personal law that applies to the person.
Example: A bachelor in Lucknow dies without a will, and his mother and siblings inherit his flat in the manner his personal law sets out.
Agent tip: In such cases, a legal heir certificate or succession certificate, plus mutation, is needed before the heirs can sell.
Related: Legal Heir Certificate Succession Certificate Hindu Succession Act, 1956 Indian Succession Act, 1925
A document issued by the Brihanmumbai Municipal Corporation to a developer listing the conditions that must be satisfied before the commencement certificate is given.
Example: A Mumbai developer receives an IOD and must meet its conditions before starting construction.
Agent tip: A project with only an IOD has not yet got full permission to start.
Related: Commencement Certificate Sanctioned Plan
The Punjabi and Haryanvi term for mutation: the entry that records a change of ownership in the revenue record after sale, inheritance or gift.
Example: After a registered sale deed in Mohali, the buyer checks that intkal is sanctioned, applying at the tehsil if it is not.
Agent tip: Without intkal, the Jamabandi continues to show the old owner. Punjab's online service now starts intkal after registration, so check that it was completed.
The list of unsold units, plots or flats that a developer or agent has available.
Example: A developer sends an inventory sheet showing 42 unsold flats in a tower.
Agent tip: Confirm availability and price on the day of the site visit.
Related: Price Sheet (Cost Sheet) Payment Plan
Also called: Months of Inventory, Quarters to Sell
A situation in which a city or micro-market has so many unsold homes that it would take many years of current sales to clear them. It is measured by dividing unsold stock by the sales rate, and shows a risk of slow price growth.
Example: A micro-market in Zirakpur has 4,000 unsold flats and sells 500 a year, so clearing the stock would take about eight years.
Agent tip: Check for overhang by project and by price band before suggesting a locality. A high overhang gives buyers more negotiating power.
A buyer who purchases property for rental income or resale profit. Investors look at price trends, rental yield, exit options and taxes, and are often keen on early-stage deals and low entry prices.
Example: A doctor buys two units in an upcoming Zirakpur project to rent one and sell the other after possession.
Agent tip: Give investors realistic numbers including taxes and holding costs. Avoid promising returns.
Related: End User Rental Yield Capital Appreciation Assured Return
Also called: InvIT, Infrastructure Investment Trust
A trust regulated by SEBI that holds income-producing infrastructure such as toll roads or power lines and pays out most of its income to unit holders. It is not the same as a REIT, which owns offices and malls.
Legal basis: SEBI (Infrastructure Investment Trusts) Regulations, 2014.
Example: An investor buys units of a trust that owns highways, and receives a periodic payout from toll collections.
Agent tip: Do not call an InvIT a real estate investment. It owns infrastructure, so risks and returns differ from property.
Related: REIT (Real Estate Investment Trust) SEBI Collective Investment Scheme
A planned area in Mohali near the airport road meant for IT companies and related housing and commercial development. Buyers should check what is actually built and approved at the time of purchase.
Example: An investor eyes a plot near IT City Mohali for future commercial use and asks the agent for planning documents.
Agent tip: Ask for the authority's planned land use. Do not rely on future promises of company arrivals.
Related: Mohali (SAS Nagar) IT Park Master Plan
A planned campus of office buildings designed for software and technology firms, with high-speed connectivity, power backup, cafeterias and parking. It may be inside an SEZ or outside. Tenants lease floors or whole blocks.
Example: A start-up leases two floors in an IT park in Mohali with power backup and shared meeting rooms.
Agent tip: Compare lease rate per sq ft with the maintenance charge. For tenants the total monthly cost matters.
Related: Special Economic Zone (SEZ) Grade A Office Office Space CAM Charges
The authority that plans and develops Jaipur, including layouts and approvals.
Example: A Jaipur plot buyer checks that the colony has JDA approval.
Agent tip: Do not confuse this JDA with a joint development agreement.
Related: Development Authority Joint Development Agreement (JDA)
The main record of rights in Punjab, Haryana and Himachal Pradesh. It lists owners, area, field numbers (khasra) and any possession details, and is updated periodically by the revenue department.
Example: A buyer in Kharar asks for the latest Jamabandi and sees the seller's name along with two co-owners. Unless only the seller's own recorded share is being sold, all three must sign.
Agent tip: Ask for a certified or online copy of the latest Jamabandi. Look for co-owners, mortgages and entries on possession.
Related: Fard Khasra Number Khewat and Khatoni Intkal
The Hindi and Punjabi word for land. It is used in conversation with owners and in local records.
Example: A farmer says "meri jameen" for his own land.
Agent tip: Always confirm the exact record details (khasra, Jamabandi) behind such informal terms.
Related: Agricultural Land Jamabandi
The name for the state-fixed minimum property value in Gujarat, used to compute stamp duty.
Example: A buyer in Ahmedabad pays stamp duty on the higher of the jantri value and the sale price.
Agent tip: Check the latest jantri for the survey number and zone.
Related: Circle Rate Stamp Duty
The Jharkhand Real Estate Regulatory Authority, which regulates projects and agents in Jharkhand, including Ranchi.
Example: A Ranchi buyer looks for the project on the Jharkhand RERA portal.
Agent tip: Check the authority's portal for current forms and fees before advising a client.
Related: RERA Authority Decimal
The Jammu and Kashmir Real Estate Regulatory Authority. Its online portal was reported to have launched in July 2024.
Example: A buyer in Jammu checks whether a project is listed on the J&K RERA portal.
Agent tip: Confirm the current registration process on the official portal.
Related: RERA Authority
Also called: JDA
An agreement between a landowner and a developer in which the owner provides land and the developer builds, with both sharing the built area or revenue.
Example: A landowner in Bengaluru receives 35% of the built apartments in return for the land.
Agent tip: Check the registration of the JDA, the sharing ratio and the date of completion.
Also called: Co-Owner Tax Benefit
When two or more people buy a house and are co-borrowers, each may claim home loan deductions separately, based on their share in the property and the EMI they actually pay. Each claims within the usual limits.
Example: Husband and wife in Zirakpur are joint owners and co-borrowers, so each claims the interest deduction on their own share in the same year.
Agent tip: The co-borrower must also be a co-owner and must actually repay the loan. Keep the bank statements that show it.
Related: Home Loan Interest Deduction Co-borrower Joint Ownership
Ownership of the same property by two or more persons together. Co-owners may hold it as tenants in common, with defined shares, as a rule. Whether any right of survivorship exists depends on the document and the law, so take legal advice.
Example: A husband and wife buy a flat together and both sign the sale agreement.
Agent tip: In a sale by joint owners, every co-owner must sign. A sale by one co-owner can bind only his share.
Related: Co-borrower Partition Deed Release Deed
Also called: জমি, Jami
The Bengali word for land. In West Bengal, property talk often uses it with other words such as "jomi-jama" for land and property, and "bastu jomi" for land recorded for homestead use.
Example: A buyer in Hooghly checks whether the jomi is recorded as bastu or as agricultural before agreeing on a price.
Agent tip: In West Bengal, check the record of rights and land classification for any jomi, as conversion is needed for non-agricultural use.
Related: Record of Rights (RoR) Agricultural Land Change of Land Use (CLU) Plot
Also called: Qabza
The Hindi and Urdu word for possession or control of property. In deals it means who is physically holding the property. Sellers should deliver clear kabza, and buyers should ask who occupies it.
Example: A buyer pays an advance but finds the plot is occupied by a relative of the seller who refuses to leave.
Agent tip: Visit the property and ask who holds kabza before paying large sums. Mention it in the agreement.
Temporary construction using mud, bamboo, tin or thatch. Banks and authorities generally do not treat it as permanent housing.
Example: A tin-roof hut on rented land is kacha.
Agent tip: Kacha property is usually not eligible for home loans.
Related: Pucca Construction Home Loan
Also called: Kanaal
A land unit used in Punjab, Haryana and Himachal Pradesh. One kanal equals 20 marla, or 5,445 sq ft (about 505.86 sq m). Eight kanals make one acre.
Example: A one kanal plot is 5,445 sq ft, which is 605 gaj.
Agent tip: Agricultural land and large farmhouse plots in the Tricity are quoted in kanal. Always check the Jamabandi for the exact area.
A supervisory revenue official above the patwari in Punjab and Haryana. The kanoongo checks records and verifies mutation entries in his circle. The final order may be passed by a higher revenue officer.
Example: A kanoongo verifies the patwari's mutation entry before it goes for approval.
Agent tip: Know the hierarchy: patwari, kanoongo, tehsildar.
Also called: Manager of HUF
The head of a Hindu Undivided Family who manages its property and affairs. A karta can sell family property in some cases, such as legal need, but he cannot generally do so freely without the other members' consent.
Example: A karta in Amritsar sells an ancestral shop to pay a family debt. The buyer asks for proof of the debt and consent letters from adult coparceners.
Agent tip: When the seller signs as karta, ask for proof of legal necessity, and get adult members to sign as well.
Related: Hindu Undivided Family (HUF) Coparcenary Ancestral Property Joint Ownership
A land unit used in Bihar, Jharkhand, West Bengal and Assam. In West Bengal one katha is 720 sq ft and 20 katha make one bigha. Other states use different sizes.
Example: A 3 katha plot in Kolkata is 2,160 sq ft.
Agent tip: Katha is not standard across states. Confirm the local measure with the revenue office before pricing.
The Kerala Real Estate Regulatory Authority, the regulator for Kerala. It is often written K-RERA, as is the Karnataka authority.
Example: A Kochi buyer checks the project on the Kerala RERA portal.
Agent tip: In Kerala, land is often priced per cent. Quote both cents and square feet.
Related: RERA Authority Cent
Also called: KFS
A standard one-page summary that a lender must give a retail borrower before the loan is taken, listing the amount, interest rate, all fees, charges, tenure, EMI and the annualised cost. It helps compare offers on equal terms.
Example: Two banks quote Jatin the same rate, but their key fact statements show different processing fees and insurance charges, so the real cost differs.
Agent tip: Collect the statement from each lender and compare the annual percentage rate, not just the headline rate.
Related: Annual Percentage Rate (APR) Processing Fee Home Loan
A Pune area in the eastern part of the city, known for an IT park, offices and many apartment complexes. It is a commonly discussed micro-market for professionals working in eastern Pune.
Example: Sneha, working in a Kharadi office, compares buying nearby with renting while her family decides.
Agent tip: In a hot rental micro-market, ask the owner about previous tenants and typical agreements before relying on estimates.
Related: Micro-market Office Space Rental Yield MahaRERA
A town in Mohali district, Punjab, west of Mohali on the road to Ropar, with fast-growing apartment and plotted projects.
Example: A buyer picks an affordable flat in Kharar.
Agent tip: Verify the approval authority and RERA number for each project.
Related: Tricity GMADA Mohali (SAS Nagar)
The number of an individual field or land parcel in the village map and revenue records of states such as Punjab, Haryana, Uttar Pradesh, Madhya Pradesh and Rajasthan.
Example: A farm sale lists khasra numbers 24, 25 and 26. The buyer checks each against the village map.
Agent tip: Match each khasra number with the map and the Jamabandi. Missing numbers may mean part of the land is not covered.
Related: Jamabandi Survey Number Shajra
A document from the local body in Karnataka showing the property's khata number, owner and tax details. It is needed for property tax, loans and utility connections.
Example: A bank asks for the khata certificate and extract before approving a home loan.
Agent tip: Collect both the certificate and the extract, and confirm the type and name.
Related: Khata (Karnataka) Property Tax
A property record kept by the local body in Karnataka that links a property to its tax account. A-khata properties are in approved layouts. B-khata properties are in irregular layouts and have limits on loans and approvals. Bengaluru now uses e-Khata, and a limited-period scheme to convert B-khata to A-khata ran from November 2025.
Example: A buyer of a site in Bengaluru finds that the property has B-khata, so banks decline the loan.
Agent tip: Always ask for the khata type. B-khata can limit loans, building plan approvals and resale.
Related: Khata Certificate Property Tax Revenue Record
A revenue record in Uttar Pradesh and some other states that shows holdings and the cultivators or owners of each plot, with the khata and gata numbers.
Example: A UP buyer reads the khatauni to see who is recorded as the holder of a gata number.
Agent tip: Compare the khatauni with the sale deed. The names and area should be the same.
Related: Gata Number Revenue Record Mutation
Also called: Khatadar, Khatedari Right
A person recorded as the main land-holder of agricultural land in Rajasthan, Haryana and some other states, with rights against the state to hold and farm the land. Tenant farmers who farm another's land may also become khatedars.
Example: A farm near Alwar lists three khatedars. The buyer realises all three, and not only the broker's contact, must agree to the sale.
Agent tip: Ask for names of all khatedars from the jamabandi, then ask each to sign. A deed signed by one co-holder is risky.
Related: Jamabandi Khewat and Khatoni Apna Khata Joint Ownership
Also called: Khatiyan, Khatiyan Number
The Record of Rights in West Bengal, Odisha, Jharkhand and Bihar, recording the name of the holder, plot numbers (dag), area and nature of the land. A new khatian is prepared at each settlement or survey.
Example: In Burdwan, a buyer asks for the latest khatian and finds that the plot is jointly held by three siblings, though only one signed the sale agreement.
Agent tip: A khatian can list co-sharers. Insist that every recorded co-sharer signs the sale deed.
Related: Record of Rights (RoR) Dag Number (Plot Number) Mutation Banglarbhumi
Two numbers in north Indian land records. Khewat is the ownership holding number. Khatoni is the cultivation holding, which shows who is working the land.
Example: A Jamabandi entry reads "Khewat 45, Khatoni 60". A buyer checks both to see the owner and the cultivator.
Agent tip: When the cultivator is different from the owner, find out whether it is a tenant.
Related: Jamabandi Khasra Number Girdawari
Also called: Ghumaon
A traditional land unit in Punjab and Haryana, about one acre. Farm land is often bought and sold in killas, and the unit also appears in old revenue records and local land deals.
Example: A farmer near Rajpura sold two killas of agricultural land to a developer for a plotted colony.
Agent tip: Convert killas to acres or square yards in writing before quoting a price. Local usage can vary slightly.
Also called: किराया, Kirayedar
The Hindi word for rent. A tenant is a kirayedar and the person who rents out the property is a makaan malik. It is also used for the rent amount in verbal deals.
Example: A shop owner in Bareilly raises the kiraya every year by an agreed percentage.
Agent tip: Even with a trusted tenant, write the kiraya, increase and notice period in a rent agreement.
Related: Rent Agreement Tenant Landlord Leave and License Agreement
Also called: Cochin
A port and commercial city in Kerala, known for its IT park, a metro, backwater-view apartments and a large NRI buyer base. Property rules involve the coastal regulation zone and wetland protection in many places.
Example: An NRI in Dubai wants an apartment in Kochi and appoints a relative through a power of attorney to complete the process.
Agent tip: In Kerala, ask for the data bank and wetland status of land, and for coastal zone checks near the water. Do these before paying a token.
Related: Coastal Regulation Zone (CRZ) Kerala RERA (K-RERA) NRI (Non-Resident Indian) Power of Attorney (POA)
A western Hyderabad locality near the Financial District, known for large land parcels sold by state agencies at auction and for new high-rise development. It is discussed as an emerging, high-profile micro-market.
Example: A buyer sees a new high-rise in Kokapet and asks the promoter for HMDA permission and a title report.
Agent tip: Land bought through auction has its own conditions, such as development timelines. Ask what terms the project land carries.
Related: HMDA TGRERA (Telangana) Micro-market Legal Title Report
The planning and development body for the Kolkata metropolitan area. It plans infrastructure and housing for the wider region, while building plan sanction in the city is by the municipal bodies.
Example: A buyer near New Town checks which body sanctioned the plan, the municipal corporation or a development authority.
Agent tip: Know which body plans and which sanctions in Kolkata. Ask the builder for both.
Also called: Kothi House
A north Indian word for a large independent house, often with a garden and boundary wall, standing on its own plot. In Punjab and Haryana, it usually refers to a house on a sizeable residential plot.
Example: A family sells their old kothi in Chandigarh's Sector 8 to a builder who plans to construct builder floors on the plot.
Agent tip: When a client asks for a kothi, confirm plot size, floors permitted and whether it is freehold.
Related: Independent House Bungalow Builder Floor
Also called: Know Your Customer Documents, ID and Address Proof
The identity and address documents that a buyer, seller, tenant or borrower gives so that a bank, registrar or builder can verify who they are. Common ones are PAN, Aadhaar and a passport or voter card.
Example: At the sub-registrar office in Zirakpur, the seller's PAN and Aadhaar are checked against the names in the deed before registration.
Agent tip: Make sure the name in each KYC document is the same as in the deed. A spelling difference can delay registration.
Related: Registration (Property) Sale Deed Affidavit Sub-Registrar
Also called: Know Your Customer
The identity and address papers collected from a buyer, usually PAN, Aadhaar, passport photo and address proof, with income proof if a loan is involved. Developers, banks and registration offices ask for them.
Example: Before booking, the agent collects the buyer's PAN, address proof and photographs and checks names match exactly across them.
Agent tip: Names should match across all papers. Small spelling differences cause delays at registration.
Related: Application Form (Booking Form) Home Loan Sale Deed
The boundary of the old inhabited area (abadi) of a village in Punjab, Haryana and Delhi. Land inside it was exempt from some building and colony rules, but this exemption has been narrowed in many places.
Example: A seller offers a house in a village's Lal Dora area without an approved plan. The buyer must check the local authority's rules.
Agent tip: Lal Dora land often lacks sanctioned plans and formal titles. Verify before you quote a price.
Related: Abadi Deh Approved Layout Sanctioned Plan
A town near Derabassi in Mohali district, Punjab, on the Chandigarh–Ambala highway. It has a large industrial area and growing plotted development.
Example: A buyer looks at an industrial plot at Lalru.
Agent tip: Verify the industrial zone, the authority approval and the project's RERA registration where applicable.
Related: Derabassi Industrial Plot GMADA
The central law under which governments acquire private land for public purposes, with compensation, rehabilitation and consent requirements.
Legal basis: Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013.
Example: A landowner is paid compensation when land is acquired for a highway.
Agent tip: Check whether a plot is under acquisition notice before you quote a price.
Related: Land Pooling Master Plan
Buying land in advance, with the expectation of price gains or later development.
Example: An investor buys plots on the edge of a growing city and holds them for ten years.
Agent tip: Check clear title, zone and approvals. Many land banking schemes have been unauthorised or fraudulent.
Related: Plot Capital Appreciation Collective Investment Scheme
Also called: BNSS 164, CrPC 145, Section 145 Proceedings
A procedure under the Bharatiya Nagarik Suraksha Sanhita by which a magistrate acts when a dispute over land or water threatens a breach of peace. The magistrate decides who is in possession for the moment, and not who owns the land.
Legal basis: Bharatiya Nagarik Suraksha Sanhita, 2023, Section 164 (earlier CrPC Section 145).
Example: Two families quarrel over a boundary strip near Patiala, and the magistrate passes an order recording who holds possession until the civil court decides title.
Agent tip: Such an order does not decide ownership. Use it as a quick relief, and go to the civil court for title.
Related: Civil Court Injunction Status Quo Order Encroachment
A method of land assembly in which owners hand over land to a development agency and receive back a smaller developed plot with roads and services. It avoids forced acquisition.
Example: Under a pooling scheme an owner of 4 acres receives developed plots in the new township instead of cash.
Agent tip: Understand the scheme's rules and plot ratio before you advise a landowner. Policies change.
Related: Land Acquisition (RFCTLARR Act, 2013) Master Plan Township (Integrated)
Also called: Bhumi Sudhar
State laws intended to reduce inequality in landholding. They covered abolishing intermediaries, protecting tenants, limiting how much land one family can hold, and distributing surplus land to the landless. Land is a state subject, so rules differ.
Example: In West Bengal, a family finds that part of its old holding was vested as surplus under the state's ceiling law and given to landless farmers decades ago.
Agent tip: Old agricultural holdings may be affected by ceiling or tenancy orders. Check that the land was not declared surplus or given to a tenant.
Related: Agricultural Land Ceiling Zamindari Abolition Agricultural Tenancy Urban Land Ceiling
Also called: Bandobast, Settlement Survey, Resettlement
The process by which a state surveys land, fixes its revenue and records who holds it. Settlements gave rise to the old systems named zamindari, ryotwari and mahalwari, and fresh settlements still update the records.
Example: A district's records date from a settlement done in the 1930s and a revised one in the 1980s. A buyer's lawyer compares the two to follow how a plot's number changed.
Agent tip: When numbers differ between old and new records, ask for the settlement or resurvey conversion table.
Related: Survey Number Cadastral Survey Revenue Record Zamindari Abolition
Also called: One-Third Land Deduction
A rule for GST on under-construction flats where one-third of the total price is treated as land value and left out of GST. The effective rates for residential projects already take this into account, so buyers see just the final rate.
Legal basis: Notified under the CGST Act, 2017 through the real estate rate notifications; check the current notification.
Example: On a ₹60 lakh under-construction flat, the builder's invoice shows GST at the effective rate on the full price, not an extra rate on land.
Agent tip: Do not let a builder add GST on top of a quoted all-inclusive effective rate. Ask for a clear bill.
Related: GST on Real Estate Input Tax Credit (ITC) GST on Under-Construction vs Ready Property
The owner of a property who rents it out.
Example: A landlord rents a flat and collects a deposit.
Agent tip: Check that the landlord has the right to let the property.
Related: Tenant Rent Agreement
A locality near Mohali and Kharar, known for institutes, group housing and plotted projects. Buyers should check road width, sewer connection and approvals for each project.
Example: A student family looks at a rental flat in Landran near a university campus.
Agent tip: Check the colony approval and water supply, because supply and sewer quality vary by pocket.
Related: Mohali (SAS Nagar) Kharar Student Housing
Also called: Lattha, Masavi
A traditional village map in Punjab and Haryana, historically drawn on cloth, showing every field with its number and shape. Patwaris still use it with the jamabandi to identify a parcel and its neighbours.
Example: A Patwari in a Fatehgarh Sahib village spreads out the latha to show a buyer that the plot in the jamabandi sits at the village edge, not beside the canal as the seller claimed.
Agent tip: Ask the Patwari to mark the plot on the latha and sign the copy. It is cheap and settles many location doubts.
Related: Patwari Jamabandi Shajra Khasra Number
A discounted price, waived charge or special payment plan offered at the start of sales in a project. Buyers should check whether the offer is genuinely lower or just a rearranged cost.
Example: A developer offers free parking and waives club membership for the first fifty bookings.
Agent tip: Compare the all-in cost with and without the offer. Get the offer written into the agreement.
Related: Soft Launch Pre-launch Sale Price Sheet (Cost Sheet)
A drawing that divides land into plots, roads, parks and utility areas for a colony or plotted scheme.
Example: A layout plan for a 20 acre colony shows 180 plots, a 40 ft main road and a park.
Agent tip: Compare the layout plan with the plot you are shown. Changes to roads or parks are a warning sign.
Related: Approved Layout Plotted Development Site Plan
A person or enquiry that may buy or rent a property. Agents record leads in a CRM and follow them up.
Example: A buyer fills a form on a project website and becomes a lead.
Agent tip: Record the source, budget and timeline of each lead.
Related: Site Visit CRM
The activities by which an agent finds new prospects, such as portals, social media, referrals, hoardings, WhatsApp groups, events and walk-ins. Good generation balances cost per lead with quality of the lead.
Example: An agent runs a local social media ad for a Zirakpur project and collects phone numbers through a simple form.
Agent tip: Always record the source of each lead. It shows which channel is worth paying for.
Related: Lead Lead Qualification CRM Advertising Compliance
Also called: Lead Validity
The time during which a developer will credit a registered lead to the agent who introduced it. If the client does not book within that time, the registration may lapse and another agent may bring the client.
Example: A developer gives 60 days validity to registrations. The client books on day 75 and the developer treats the lead as new.
Agent tip: Ask for the period in writing and ask for extension if the client needs more time.
Related: Lead Registration Channel Partner Agreement Commission Dispute
Checking whether an enquirer is a serious buyer by asking about budget, purpose, timeline, location preference, financing and decision makers. It saves time by sorting real buyers from casual enquiries.
Example: Before a site visit, the agent asks a caller about budget, home loan eligibility and who else will decide.
Agent tip: Ask for budget and timeline in the first call, politely. Skipping this wastes visits.
Related: Lead Sales Funnel Site Visit
Also called: Client Registration, Visitor Registration
Informing a developer in writing, with the client's name and phone, that a particular buyer was introduced by your firm, so that the developer credits the booking to you. It is the main protection for channel partners.
Example: Before taking a client to a Mohali launch, an agent sends the registration form to the developer by email and gets acknowledgement.
Agent tip: Register before the visit, not after. Keep the acknowledgement safely.
Related: Channel Partner Lead Protection Period Commission Dispute
A document recording a lease of immovable property for a defined period at agreed rent or premium. A lease of more than one year must be registered.
Legal basis: Transfer of Property Act, 1882 (Section 105) and Registration Act, 1908 (Section 17).
Example: A 9-year lease of a showroom with a 5% annual rent increase is signed as a registered lease deed.
Agent tip: For commercial leases, check lock-in, escalation, notice, security deposit and fit-out terms.
Related: Lessor Lessee Leasehold Property Escalation Clause
Also called: LRD
A loan against future rent from a leased commercial property. The lender advances money today based on rent payable under existing lease agreements, and the rent is routed to repay the loan.
Example: Owner of a Panchkula showroom with a ten-year lease to a retail chain gets a loan sized on the monthly rent receivable, which is paid straight to the bank.
Agent tip: The strength of the tenant and the length of the lock-in are what banks check first.
Related: Pre-Leased Property Loan Against Property (LAP) Debt Service Coverage Ratio (DSCR)
Property held for a fixed term under a lease from the owner, often a development authority. The leaseholder may need permission to transfer it, and may pay transfer fees or ground rent.
Example: Delhi Development Authority flats and many plots in Navi Mumbai were originally leasehold.
Agent tip: Check the remaining lease term, the transfer rules and any conversion to freehold policy.
Related: Freehold Property Lease Deed Lessor
Also called: Leave and License
An arrangement in which an owner permits another person to use the property for a fixed term without creating a tenancy. It is widely used in Maharashtra and for 11-month agreements.
Legal basis: Section 52 of the Indian Easements Act, 1882. In Maharashtra, such agreements are also governed by the state's rent control law.
Example: An owner in Pune signs an 11-month leave and license agreement with an IT employee.
Agent tip: In Maharashtra, Section 55 of the Maharashtra Rent Control Act, 1999 makes a written, registered agreement compulsory for a leave and licence, and the owner is responsible. A short term does not remove this.
Related: Rent Agreement Lessor Licensee
A document issued by the revenue authority (usually the tehsildar) that names the legal heirs of a deceased person. Buyers ask for it when title comes by inheritance.
Example: A son applies for a legal heir certificate after his father's death, to mutate the house in the family's names.
Agent tip: Check that all heirs are listed and that they agree to the sale.
Related: Succession Certificate Probate Mutation
Also called: Lawyer Notice, Vakil Notice
A formal written notice sent through a lawyer, which tells the other side about a claim and demands action within a stated time. It is a normal first step in property and payment disputes, and some laws require it before filing a case.
Example: A buyer in Chandigarh sends a legal notice to a builder, demanding possession within 30 days or a refund with interest.
Agent tip: Keep the postal receipts and email proof. State the facts, the amount and the deadline clearly.
Related: Cheque Bounce (Section 138) Civil Court Consumer Commission Builder-Buyer Agreement
A lawyer's written opinion on whether the seller has a clear and marketable title, based on a review of documents, searches and records.
Example: A bank's panel lawyer issues a title report before approving a home loan on an under-construction flat.
Agent tip: Suggest a title search to buyers of plots and resale flats. Review the report for any conditions.
Related: Due Diligence Link Documents Litigation Check
The person who takes a property on lease.
Example: A company that leases an office is the lessee.
Agent tip: Read the lessee's obligations on rent, repairs and sub-letting.
Related: Lessor Lease Deed
The person who grants a lease, usually the property owner.
Example: The owner of a showroom is the lessor in the lease.
Agent tip: Check that the lessor has the right to grant the lease.
Related: Lessee Lease Deed
A document in which one party states its intention to enter a deal, such as to buy or lease premises, on broad terms. It is usually not final, though parts of it can bind if the document says so. It is common in commercial leasing.
Example: A retail brand sends a letter of intent to a mall owner in Gurugram for a 2,000 square foot shop, subject to a lease agreement.
Agent tip: State clearly whether the letter is binding. Add the date by which the full lease must be signed.
Related: Offer Letter Memorandum of Understanding (MoU) Agreement to Lease Lease Deed
Using borrowed money to buy an asset. It can raise returns when prices rise but increases loss when they fall.
Example: An investor buys a ₹1 crore flat with ₹20 lakh of own money and an ₹80 lakh loan.
Agent tip: Warn investors that leverage increases risk.
A person allowed to use a property under a licence, without any interest in the property itself. A licence can be withdrawn, unlike a tenancy.
Legal basis: Indian Easements Act, 1882, Section 52.
Example: A person staying under a leave and license agreement is a licensee.
Agent tip: Keep the agreement in writing and stamped.
Related: Leave and License Agreement Tenant
A right to hold property as security until a debt is paid.
Example: A bank has a lien on a flat until the loan is repaid.
Agent tip: A lien may not appear in the registrar's records. Ask the seller for confirmation from the lender.
Also called: Lift Permit
A licence from the state electrical or lift inspectorate to run a passenger lift, issued after inspection of safety devices and testing. It needs periodic renewal in many states, and operating without it is an offence.
Example: A residential society in Mohali found its lift licences had lapsed and had to arrange inspection before renewing.
Agent tip: Ask the society or builder for current lift licences. They matter for safety and for insurance claims.
Related: Fire NOC MEP (Mechanical, Electrical and Plumbing) Resident Welfare Association (RWA)
Also called: Limitation Act
The law that sets time limits within which a person must file a court case. After the time lapses, the court will normally not hear the claim. It sets periods for suits on contracts, possession of property and other civil claims.
Legal basis: Limitation Act, 1963 (for example, Article 65 sets 12 years for a suit for possession based on title).
Example: A buyer in Raipur waits eight years after a builder's default and then files for a refund. The builder objects that the claim is time-barred.
Agent tip: Note down key dates, such as the possession date and the last demand. Act early rather than waiting for limitation to be argued.
Related: Limitation Period Adverse Possession Civil Court Specific Performance
The time within which a legal claim must be filed. After it expires, the claim is barred. A suit for specific performance of a sale contract has a three-year period.
Legal basis: Limitation Act, 1963.
Example: A buyer who waits four years after the seller refuses to execute a sale deed may lose the right to sue for specific performance.
Agent tip: Tell clients to act quickly when a dispute arises.
Related: Specific Performance Adverse Possession
Also called: Link Document, Chain of Title
The chain of earlier title documents that connect the current owner back through earlier transactions to a source of title. A complete chain shows an unbroken history of ownership.
Example: A plot's seller shows a 2019 sale deed, but there is no document linking the previous owner to the original allottee. The chain is broken.
Agent tip: A missing link is a red flag. Ask a lawyer to review the chain before the booking amount is paid.
Related: Title Deed Title Legal Title Report
A horizontal beam placed over a door, window or other opening in a wall. It carries the weight of the masonry above and passes it to the sides of the opening. Most Indian homes use a small reinforced concrete lintel.
Example: A homeowner in Panchkula noticed a diagonal crack above a window and found the lintel was too short and had too little bearing on the wall.
Agent tip: Hairline cracks over openings are common, but wide or growing cracks near a lintel deserve a structural engineer's visit.
Related: Beam Load-Bearing Structure Column
A fixed sum agreed in a contract as compensation for a breach. Courts allow reasonable amounts and may reduce penalties.
Example: An agreement states that a buyer who cancels forfeits 10% of the price.
Agent tip: One-sided cancellation terms may be challenged. RERA has no fixed forfeiture cap. A promoter can cancel only in terms of the agreement, and an allottee can approach the Authority against unilateral or unjustified cancellation.
Related: Agreement for Sale Cancellation Charges
Also called: Illiquidity
The risk that a property cannot be sold quickly at a fair price when the owner needs cash. Property takes time to market, negotiate, check papers and register, so it is less liquid than shares or bank deposits.
Example: Hardeep needs money in a hurry but his Kharar plot takes eight months to find a buyer at a fair price.
Agent tip: Remind investors not to put money they may need soon into property.
A principle that a property involved in a pending court case cannot be transferred in a way that affects the rights of the parties in that case.
Legal basis: Transfer of Property Act, 1882, Section 52.
Example: A plot is sold while a title suit is pending. The buyer is bound by the outcome of the suit.
Agent tip: Check for pending cases before buying.
Related: Litigation Check Injunction
A search to find out whether a property is involved in any court case or dispute, done through court records and by enquiry.
Example: A buyer's lawyer searches the district court and consumer forum records for the seller's name.
Agent tip: Add litigation search to your due diligence checklist.
Related: Due Diligence Lis Pendens
A building in which walls carry the load, common in older and low-rise construction. Removing walls can be unsafe.
Example: A century-old house with thick brick walls is load-bearing.
Agent tip: Check structural safety carefully before renovating an old load-bearing building.
The percentage by which carpet area is increased to arrive at super built-up area. It covers walls, balconies and the buyer's share of common areas, and it varies from project to project.
Example: Carpet 1,000 sq ft and super area 1,300 sq ft means a 30% loading. The buyer pays for 300 sq ft they cannot personally use.
Agent tip: High loading above roughly 40% is a flag worth raising with the buyer, particularly where the project has few amenities.
Related: Super Built-Up Area Carpet Area Common Area
A loan raised by mortgaging an existing property, used for business or personal needs rather than for buying the property itself.
Example: A shop owner mortgages his office to raise working capital.
Agent tip: LAP rates are usually higher than home loan rates.
Also called: Loan Closure Letter, Loan Foreclosure Letter
A letter from a bank or lender confirming that a loan has been repaid in full and no amount is due. It goes with the release of the original property documents and the removal of the lender's charge on the property.
Example: Before selling her Noida flat, Pooja collects the loan closure letter and the original agreement from her bank, so the buyer can check the charge is removed.
Agent tip: After closure, make sure the lender's charge is removed from CERSAI and the registrar's record, not only from its own books.
Related: No Dues Certificate Mortgage CERSAI Foreclosure
Also called: Loan Closure Certificate, No Dues Letter
A document issued by the lender after a loan is fully repaid, confirming that nothing more is due. The lender must also return the original property documents and release its charge on the property within the time set by the RBI.
Legal basis: RBI directions require regulated lenders to return original documents within 30 days of full repayment, or pay compensation for delay.
Example: After the last EMI, Parveen collects the original papers from the bank and the closure letter, then asks the bank to update the charge record.
Agent tip: Collect the closure letter and check that the lender's charge is removed from the property and the central charge registry.
Related: No Dues Certificate CERSAI Foreclosure
The loan as a percentage of the property's value. RBI limits LTV for housing loans: up to 90% for loans up to ₹30 lakh, 80% for loans of ₹30 to ₹75 lakh and 75% above ₹75 lakh.
Example: On a ₹60 lakh flat with an LTV limit of 80%, the bank lends at most ₹48 lakh, and the buyer pays ₹12 lakh from own funds.
Agent tip: Plan the down payment using the LTV limit, not the sale price alone.
Related: Down Payment Margin Money Home Loan
The initial part of a lease when neither side can end the agreement without paying a penalty.
Example: A showroom lease has a 3-year lock-in. If the tenant leaves early, they pay the rent for the remaining months.
Agent tip: Check the lock-in period and penalty in commercial leases.
Related: Lease Deed Pre-Leased Property
Also called: Warehousing Park
A planned complex of warehouses, truck parking, loading docks and support services near highways, ports or rail terminals, used to store and move goods. Modern parks offer high-ceiling, fire-protected, Grade A warehouses on lease to e-commerce and logistics firms.
Example: A third-party logistics firm leases 80,000 sq ft in a logistics park near the Delhi-Mumbai corridor for e-commerce storage.
Agent tip: Check truck turning space, dock height, floor load and fire systems. Warehouse buyers test these before they look at rent.
Related: Warehouse Industrial Plot Cold Storage
A forum that settles disputes by mutual agreement, with no court fee. Its award has the status of a court decree and cannot be appealed.
Legal basis: Legal Services Authorities Act, 1987.
Example: A small property dispute between neighbours is settled at a Lok Adalat in a day.
Agent tip: Suggest Lok Adalat for quick settlements.
Related: Civil Court Mediation
A state ombudsman that investigates complaints of corruption and misuse of power by public officials. Property owners and buyers may complain about bribes sought for approvals, though powers and procedure differ by state.
Legal basis: State Lokayukta laws; also see the Lokpal and Lokayuktas Act, 2013.
Example: A buyer complains about an official demanding a bribe to issue a completion certificate.
Agent tip: Keep records of requests and dates. A written complaint with details has more weight.
Related: Completion Certificate (CC) Municipal Corporation Right to Information (Allottee)
Also called: LTCG
Gain on sale of land or a building held for more than 24 months. For transfers on or after 23 July 2024 the rate is 12.5% without indexation. Resident individuals and HUFs may choose 20% with indexation for property acquired before 23 July 2024.
Example: A resident who bought a flat in 2015 and sells it in 2026 can compare 12.5% without indexation with 20% with indexation, and choose the lower tax.
Agent tip: The choice can change the tax by lakhs. Always refer the client to a tax professional with the purchase year in hand.
Related: Capital Gains Indexation Section 54 Exemption
Also called: Section 197 Certificate, Nil TDS Certificate
A certificate from the tax department allowing a payer to deduct tax at a lower rate, or nil, than normally required. A property seller applies for it when the tax on gains will be far lower than the standard deduction rate on the full sale price.
Legal basis: Section 197 of the Income-tax Act, 1961, applied through Form 13; the 2025 Act renumbers it.
Example: An NRI selling a flat at a small gain applies for a lower deduction certificate, so the buyer deducts tax on the gain and not on the whole price.
Agent tip: Apply well before the sale closes. Without the certificate, the buyer must deduct at the standard rate.
Related: TDS on Sale by NRI TDS on Property Purchase NRI (Non-Resident Indian)
A central Mumbai area that grew from former textile mill land into a mix of high-rise homes, offices, malls and restaurants. Its development followed changes in mill land rules and redevelopment norms.
Example: A consultant looks at an apartment in a former mill compound in Lower Parel, and checks the mill land conversion papers.
Agent tip: For old mill land, check the development permissions and any mill-worker housing obligations through the title report.
Related: Redevelopment Legal Title Report MMR (Mumbai Metropolitan Region) Micro-market
The authority that plans and develops Lucknow, including approval of layouts and building plans.
Example: A buyer in Lucknow checks LDA approval for a plotted colony.
Agent tip: Check the layout approval and the sanctioned map.
Related: Development Authority Approved Layout
The Maharashtra government's online portal for 7/12 extracts, 8A extracts and property cards.
Example: A buyer downloads a digitally signed 7/12 from Mahabhulekh.
Agent tip: Prefer the digitally signed copy over a hand-written one.
Related: Satbara Utara (7/12) 8A Extract Property Card
The Maharashtra Real Estate Regulatory Authority, the RERA regulator for Maharashtra. It registers projects and agents, handles complaints and runs the state's RERA portal.
Example: A buyer in Pune checks a project's MahaRERA number before paying the booking amount.
Agent tip: Maharashtra is the state with the Certificate of Competency requirement for agents, which became binding on 1 January 2024.
An agreement under which a society, builder or facility manager provides maintenance of common areas for a fee.
Example: A builder signs a three-year maintenance agreement before the society takes over.
Agent tip: Check the charges, the corpus fund and what happens when the builder hands over.
Related: Society Charges Corpus Fund Common Area
Also called: मकान, Makan
The Hindi and Urdu word for a house or building. In property talk, it often means a house on its own land, as opposed to a flat or a plot.
Example: A seller in Jalandhar advertises a "do manzila makaan" meaning a two-storey house.
Agent tip: Ask what the word covers in a listing, since "makaan" may include land share or only the structure.
Related: Independent House Plot Kothi Jameen
Also called: மனை, Manai Pirivu
A Tamil word for a house site or plot, often used in advertisements in Tamil Nadu for residential plots in a layout, as in "manai pirivu" meaning a plot division.
Example: A buyer from Salem looks at a manai in a DTCP-approved layout and asks for the patta.
Agent tip: Check approval of the layout and the individual plot, including the patta and the encumbrance certificate.
Related: Plot Patta DTCP Approved Layout
Also called: Open Space Reservation
The portion of a plot or layout that must be kept free of building, such as lawns, playgrounds and margins around the building, as required by the bye-laws. It provides light, air, fire access and recreation.
Example: A group housing project in Zirakpur had to keep a set share of its land as open green area before sanction.
Agent tip: When you see a very dense project, check the sanctioned plan for open space. Encroachment on it is a violation.
Related: Ground Coverage Setback Building Bye-Laws
The portion of the cost that a buyer must pay from own funds because the bank does not lend it.
Example: With an 80% LTV the margin money is 20% of the property value, plus stamp duty and other charges.
Agent tip: Remind buyers that margin money, stamp duty and fees are extra to the loan.
Related: Loan-to-Value (LTV) Down Payment
The price at which a property would sell in an open sale between a willing buyer and a willing seller, both fully informed and neither under pressure.
Example: A flat sells at ₹58 lakh in an open market, while the circle rate is ₹52 lakh and the bank valuation is ₹55 lakh. The market value is what a buyer actually pays.
Agent tip: Use recent sales of similar units in the same project or sector to support a price.
Related: Circle Rate Valuation Report Comparable Sales (Comps)
A title free from reasonable doubt, which a court would enforce if the buyer's purchase were challenged. A seller must show a marketable title unless the contract says otherwise.
Legal basis: Transfer of Property Act, 1882, Section 55(1)(a) requires the seller to disclose material defects in title.
Example: A plot has an unbroken chain of registered deeds for 30 years and no litigation.
Agent tip: Ask a lawyer to confirm title before the buyer pays more than the token amount.
Related: Title Legal Title Report Link Documents
A land unit used in Punjab, Haryana and Himachal Pradesh. One marla equals 272.25 sq ft (about 25.29 sq m), and 20 marla make 1 kanal.
Example: A 10 marla house plot is 2,722.5 sq ft or about 302.5 gaj.
Agent tip: When a Tricity buyer says "10 marla", convert it immediately to sq ft or gaj and write it in the quote.
Related: Kanal Gaj (Square Yard) Jamabandi
A long-term plan prepared by the planning authority for the growth of a city or region, showing land-use zones, roads, services and open spaces.
Example: A Master Plan shows a road widening through a plot. The owner may lose land.
Agent tip: Check the master plan for road widening, reservations and zone before quoting a plot.
Related: Zoning (Land Use Zone) Development Control Regulations (DCR) Zonal Plan
A benchmark lending rate computed by each bank from its funding costs. Older home loans are linked to MCLR. RERA also uses the State Bank of India's highest MCLR to set interest on delays.
Legal basis: In most state RERA rules, interest is the State Bank of India's highest marginal cost of lending rate plus 2% (read as an annual rate). A few states use the prime lending rate instead.
Example: If SBI's highest MCLR is 9% and the rule adds 2%, the RERA interest rate is 11% a year.
Agent tip: MCLR is a bank benchmark. It is not the same as the repo rate.
Related: SBI Highest MCLR Floating Interest Rate Delay Interest
A process in which a neutral person helps the parties reach a voluntary settlement. A settlement agreement can be enforced.
Example: A builder and buyer agree on a refund plan through mediation.
Agent tip: Use mediation to save time and cost.
Related: Lok Adalat Civil Court
Also called: Mee Bhoomi, 1-B
Andhra Pradesh's online portal for land records. It gives the adangal, 1-B (record of rights) and related extracts for a village survey number, and is used for ownership checks and mutations.
Example: A buyer of paddy land near Guntur downloads the 1-B and adangal on Meebhoomi, and finds that the land is shown as wet land, not dry land as the broker said.
Agent tip: Check the land classification and the cultivator's name on the portal extract. Wet and dry classification can affect conversion rules and price.
Related: Adangal Record of Rights (RoR) Survey Number Mutation
Also called: MODT, Memorandum of Entry
A written memorandum that records the deposit of original property papers with a lender as security for a loan. It records the intention behind the deposit, and in some states it must carry stamp duty or be registered.
Legal basis: Section 58(f) of the Transfer of Property Act, 1882 recognises a mortgage by deposit of title deeds.
Example: Sandeep hands the original sale deed of his shop to the bank and signs a memorandum stating that the deposit secures his business loan.
Agent tip: Do not release original papers to a lender without a receipt listing every document.
Related: Equitable Mortgage Title Deed Mortgage
Also called: MODTD, Memorandum of Entry
A short document recording that a borrower has handed the original title deeds to a lender as security for a loan. It creates an equitable mortgage and is used in states where it is recognised. The lender holds the deeds until the loan is cleared.
Example: A shop owner in Surat deposits the original papers with a bank and signs a memorandum that records the deposit date and loan amount.
Agent tip: When buying a property, ask whether the seller's originals are with a lender. A buyer cannot get the originals until the loan is repaid.
Related: Equitable Mortgage Mortgage Deed Loan Against Property (LAP) CERSAI
A preliminary document that records the broad terms agreed between parties. It may or may not be binding, depending on its wording.
Example: A landowner and developer sign an MoU on revenue sharing before a detailed development agreement.
Agent tip: Do not treat an MoU as a sale. Check what the document says about binding effect.
Related: Joint Development Agreement (JDA) Agreement to Sell (ATS)
Also called: Building Services
The group of building services that make a structure usable: air conditioning, ventilation, lifts, wiring, power backup, water supply, drainage and fire fighting. Good MEP design is planned with the architecture, not added afterwards.
Example: A hospital developer in Mohali engaged an MEP consultant at design stage to route ducts and pipes without clashing with the structure.
Agent tip: For commercial purchases, ask for the MEP load details such as power per square foot and cooling capacity.
Related: HVAC Fire NOC Power Backup (DG Set)
Also called: Damages for Use and Occupation
The money a rightful owner can claim from a person who has wrongfully stayed in the property, for the period of the wrongful occupation. It is usually measured by the rent the owner could have earned.
Example: A tenant in Pune stays on after a court orders him out. The owner claims mesne profits equal to the market rent for those months.
Agent tip: Landlords should ask the court for mesne profits in the eviction suit. Keep proof of the market rent.
Related: Eviction Tenant Civil Court Landlord
An urban rail network, usually elevated or underground, built in many Indian cities. Its stations often influence nearby rents, shop demand and development, though effects depend on the area, feeder links and construction delays.
Example: A tenant in Bengaluru chooses a flat close to a metro stop to avoid traffic.
Agent tip: Use the officially notified alignment and station list, and check if the line is running, not just planned.
Related: Transit Oriented Development (TOD) Regional Rapid Transit System (RRTS) Micro-market Right of Way (ROW)
An intermediate floor between two main floors, usually partial. It is common in shops and showrooms.
Example: A showroom adds a mezzanine floor for storage and office.
Agent tip: Check whether a mezzanine is approved and counted in the area.
Related: Showroom Floor Area Ratio (FAR)
The Maharashtra Housing and Area Development Authority, which builds and allots housing, runs lotteries and manages redevelopment of old cessed buildings.
Example: A family wins a MHADA lottery flat in Mumbai.
Agent tip: MHADA flats have resale conditions and permissions.
Related: Development Authority Redevelopment
A small area within a city, such as a sector or locality, whose prices and demand differ from the surrounding areas.
Example: Two sectors in Mohali may have very different rates per sq ft.
Agent tip: Know the micro-markets you serve and keep a record of rates.
Related: Comparable Sales (Comps) Market Value
Selling a property by giving false or misleading information about price, area, approvals, returns or timelines.
Legal basis: Section 12 of the RERA Act, 2016 makes a promoter liable for loss caused by untrue statements in advertisements or prospectuses. Section 10 requires agents not to facilitate sale of unregistered projects.
Example: An agent tells a buyer a plot has an approved layout, but it does not.
Agent tip: Give only information you can support with documents.
Related: Real Estate Agent Due Diligence
A project combining residential, commercial and sometimes hospitality components on the same land.
Example: A 12 acre project with apartments, a mall and a hotel under one master plan.
Agent tip: Each component may need separate RERA registration or approvals. Check the break-up.
Related: Township (Integrated) Commercial Property Real Estate Project
The region around Mumbai, including Thane, Navi Mumbai and Kalyan, planned by MMRDA.
Example: A buyer in Thane deals with MahaRERA and the local municipal corporation.
Agent tip: State the exact municipal area when you quote a property.
The Mumbai Metropolitan Region Development Authority, which plans and builds infrastructure and large projects in the Mumbai region.
Example: A project near a metro line follows MMRDA's plans.
Agent tip: Check road and metro alignments in MMRDA areas.
Related: Development Authority Master Plan
The Act requires the agreement for sale to follow the prescribed form. The Centre's model rules include a model format that states adapt. It sets out standard terms, such as area, payment plan, possession date and defect liability, so builders cannot use one-sided clauses.
Legal basis: Section 13(2) of the RERA Act, 2016.
Example: A Panchkula builder is told by the Authority to align his agreement with the state format, including the possession date clause.
Agent tip: Compare the builder's draft with your state's prescribed format and flag extra clauses before signing.
Related: Agreement for Sale Section 13 (RERA) Builder-Buyer Agreement
A central model law of 2021 that states may adopt. It requires written rental agreements, caps security deposits and sets up rent authorities and courts for speedy settlement of disputes.
Example: A state that adopts the Act requires landlords and tenants to submit their agreement to the Rent Authority.
Agent tip: It applies only in states that have adopted it. Check the status for your state.
A kitchen fitted with factory-made cabinets, drawers and fittings that are assembled on site in standard sizes. It is quicker to install than carpenter-built work and easier to change, and usually costs more per running foot.
Example: A Panchkula flat was handed over with only a kitchen platform, and the owner then installed a modular kitchen with a chimney and hob.
Agent tip: Confirm in the agreement whether the kitchen is a platform with sink only or a full modular unit.
Related: Specifications Warm Shell Running Foot (RFT)
The Maharashtra Ownership Flats (Regulation of the Promotion of Construction, Sale, Management and Transfer) Act, 1963, an earlier state law for flat sales. RERA now covers most of these matters, but MOFA still applies to older cases.
Example: An older society deal in Pune is argued under MOFA, while a new project falls under RERA.
Agent tip: For older Maharashtra projects, ask which law applies.
Related: Deemed Conveyance RERA
Also called: SAS Nagar, Sahibzada Ajit Singh Nagar
The city in Punjab, officially Sahibzada Ajit Singh Nagar (SAS Nagar), next to Chandigarh. It is a planned city with numbered sectors and falls under GMADA and the Punjab RERA.
Example: A buyer chooses a flat in a Mohali sector near the IT City.
Agent tip: Quote the sector number and check GMADA approval.
Related: GMADA Tricity RERA Punjab
Also called: मोहल्ला
A Hindi and Urdu word for a neighbourhood or locality within a town. Buyers often search for property by mohalla name in older towns, where formal sector numbers may not exist.
Example: A tenant in Lucknow asks for a house in a particular mohalla to be close to family.
Agent tip: In an older mohalla, check the lane width, ownership history and municipal records before buying.
Related: Colony Sector Micro-market Municipal Corporation
The Ministry of Housing and Urban Affairs, the central ministry that administers the RERA Act, 2016, and schemes such as PMAY-Urban.
Example: A MoHUA notice sets guidance for states on RERA.
Agent tip: Check MoHUA and state notifications for changes in the law.
Related: RERA Pradhan Mantri Awas Yojana (PMAY)
Official measurement of land in Maharashtra, carried out by the Land Records department to fix boundaries.
Example: Neighbours dispute a boundary and apply for mojani. The surveyor marks the line on the ground.
Agent tip: Suggest mojani when boundaries are uncertain, before purchase of agricultural land.
Related: Demarcation Survey Number
A method where walls, slabs and beams are cast together in one operation using system formwork, usually aluminium. It produces smooth, strong walls and fast cycles, but later changes to walls are hard because the walls are structural.
Example: An affordable housing scheme near Lucknow was built with monolithic walls, so buyers were told not to hack or remove any wall.
Agent tip: Warn buyers that interior walls in monolithic buildings often cannot be altered, which limits renovation plans.
Related: Formwork (Shuttering) Shear Wall Affordable Housing
Also called: EMI Holiday, Repayment Holiday
A period during which the borrower pays no principal, and sometimes pays only interest or nothing at all. In construction finance it often lasts until the project is complete. It does not remove the interest, which keeps building up.
Example: A builder in Panchkula gets a 24-month moratorium on a construction loan, so repayments begin only after the building is expected to be ready.
Agent tip: A moratorium lowers the early burden but raises the total interest paid. Ask what happens to the unpaid interest.
Related: Pre-EMI Tenure Construction Finance
A transfer of an interest in specific property to secure a loan. The lender has a charge on the property until the loan is repaid.
Legal basis: Transfer of Property Act, 1882, Section 58.
Example: A bank holds the original sale deed as security for a home loan.
Agent tip: A property under mortgage cannot be freely sold. The bank's NOC is needed.
Related: Equitable Mortgage Mortgage Deed Lien
A document by which a borrower pledges immovable property to a lender as security for a loan. Types include simple mortgage, mortgage by deposit of title deeds, English mortgage and others.
Legal basis: Transfer of Property Act, 1882 (Section 58 and following).
Example: A bank asks the buyer to deposit the original title documents as security, creating an equitable mortgage.
Agent tip: Always check whether the property is already mortgaged. A registered mortgage appears in the encumbrance certificate, but a mortgage by deposit of title deeds may not. Also check CERSAI and ask the bank for confirmation.
Related: Mortgage Equitable Mortgage Encumbrance Certificate (EC)
The Madhya Pradesh Real Estate Regulatory Authority, which regulates projects and agents in Madhya Pradesh, including Bhopal and Indore.
Example: An Indore buyer verifies a project on the MP RERA portal.
Agent tip: Mutation in Madhya Pradesh is called namantaran.
Related: RERA Authority Namantaran
A fast-developing area near Chandigarh on the Punjab side, close to New Chandigarh, with residential, commercial and institutional projects. Buyers often compare it with Kharar and Zirakpur.
Example: A buyer compares plot prices in Mullanpur with Kharar before deciding where to build.
Agent tip: Check whether the project is in an approved colony and its RERA status. Ask about road access and water supply.
Related: New Chandigarh Kharar Tricity
Also called: MTHL, Atal Setu
A long sea bridge linking Sewri in Mumbai with Nhava Sheva near Navi Mumbai, opened in early 2024. It shortens road travel across the harbour and is often cited in property discussions about Navi Mumbai, Uran and Raigad.
Example: A broker tells a client that the sea link has made a Chirle plot more reachable, and asks for the sanctioned layout before discussing anything else.
Agent tip: Infrastructure may change interest in an area, but verify zoning and land title. Hearsay about future access is not a legal right.
Related: Navi Mumbai MMRDA Transit Oriented Development (TOD) Micro-market
The urban local body of a large city that handles civic services, building plan approval and property tax.
Example: A buyer in Chandigarh pays property tax to the Municipal Corporation Chandigarh.
Agent tip: Check the corporation's records for taxes and sanctioned plans.
The civic body that runs most of Delhi's services, including property tax, building permissions in its areas, sanitation and trade licences. Part of Delhi is under other bodies, such as New Delhi Municipal Council.
Example: A buyer of a Delhi house checks the property tax receipts of the MCD and any building violations.
Agent tip: Check property tax receipts and any notices on a Delhi property. Pending dues can follow the property.
Related: Municipal Corporation Property Tax Delhi Development Authority (DDA)
Also called: Rectangle Number
A rectangular block of farm land used in Punjab and Haryana revenue records, comprising a fixed number of killas. Village maps are drawn in murabbas, and each field is numbered within one.
Example: A Jamabandi extract for a village near Ambala listed a plot as a numbered field inside a particular murabba.
Agent tip: To trace a plot, ask the patwari for the murabba and killa number as shown on the village map.
Also called: Mushtarka Khata, Joint Khata
Jointly owned land in Punjab and Haryana where the holdings of co-owners are not divided on the ground. The record shows shares, but no co-owner can claim a specific portion without partition.
Example: In a Karnal village, five brothers own 20 acres as mushtarka malkan. One brother sells a defined 3 acres, but the others object since the land was never partitioned.
Agent tip: When land is jointly held, the safe route is a registered partition first, or a sale signed by all co-owners.
Related: Jamabandi Partition Deed Joint Ownership Fard
Also called: Shariat Inheritance, Faraiz, Muslim Personal Law
At a general level, the Muslim personal law of inheritance divides a deceased person's property among fixed heirs in prescribed shares, such as spouse, children and parents. It governs Muslims in India in matters of inheritance, and a will is limited to a part of the estate.
Legal basis: Muslim Personal Law (Shariat) Application Act, 1937.
Example: A man in Bhopal dies leaving a widow, a son and two daughters. A lawyer prepares the heirs' list according to the Muslim law of shares before the flat can be mutated.
Agent tip: Do not guess shares. For a Muslim owner's estate, get an heirship list from a lawyer and have all heirs sign any sale.
Related: Intestate Succession Legal Heir Certificate Hiba (Muslim Gift) Mutation
The entry in the revenue or municipal records that changes the recorded owner after a sale, inheritance or gift. It does not itself give title, but it is essential proof for tax, loan and resale.
Example: Mr. Sharma buys a plot and registers the sale deed, but does not apply for mutation. Two years later the old owner's name still shows in the records and a bank refuses a loan.
Agent tip: Tell every buyer to confirm mutation within weeks of registration. Some states now start it automatically, but the buyer should check that it was attested.
Related: Intkal Dakhil Kharij Ferfar Revenue Record
An order that converts agricultural land to non-agricultural use for housing, commerce or industry. It is needed before building on farmland in states such as Maharashtra and Gujarat. In Maharashtra, land inside a sanctioned development plan or layout is treated as deemed non-agricultural, so a separate order may not be needed.
Example: A Pune developer applies for NA permission before laying out plots on farmland.
Agent tip: Do not market plots on agricultural land without the NA order or proof that the land is deemed non-agricultural.
A central Indian city in Maharashtra, known for its location at the geographical centre of the country, the MIHAN logistics zone and a metro. Highway and expressway links are often cited for its plot market.
Example: A buyer from Amravati looks at an NA-converted plot in Nagpur and asks for the NA order.
Agent tip: Make sure Nagpur plots on the edge have been converted to non-agricultural use and approved under the right planning body.
Related: NA (Non-Agricultural) Order MahaRERA Industrial Corridor Plot
Also called: Nehri, Chahi, Barani
The three main irrigation classes of farmland in the revenue records of Punjab and Haryana. Nahri land is watered by canal, chahi by a well or tube well, and barani depends on rain. The class often affects the land's price.
Example: Two 5-acre fields near Sirsa are priced differently, since one is nahri with a canal outlet while the other is barani.
Agent tip: Check the class in the jamabandi and compare it with what you see. A field recorded as nahri without an actual outlet may have been wrongly classed.
Related: Agricultural Land Jamabandi Girdawari Banjar Land
Also called: National Geospatial Knowledge-based Land Survey of Urban Habitations
A central programme to prepare updated records of urban land using aerial imagery and drone mapping. The goal is to create property records for towns, which for long did not have the clear revenue maps that villages have. It was launched on a pilot basis in 2025.
Example: A town in the pilot phase receives drone-based mapping of its houses, and owners are asked to verify boundaries against their deeds.
Agent tip: If your city is covered, check your plot's map entry when the survey is displayed. Errors are easier to fix at that stage than later.
Related: Property Card DILRMP SVAMITVA ULPIN (Bhu-Aadhaar)
The word for mutation of land records in Madhya Pradesh and Chhattisgarh.
Example: A buyer in Bhopal applies for namantaran after the sale deed is registered.
Agent tip: Make sure the buyer files promptly. Pending namantaran blocks later resale and loans.
Related: Mutation Revenue Record
The National Real Estate Development Council, an industry body of the real estate sector.
Example: NAREDCO takes part in policy discussions with the government.
Agent tip: Check the developer's own record and registration.
The statutory body that prepares the regional plan for the National Capital Region and coordinates planning among Delhi, Haryana, Rajasthan, Uttar Pradesh and the Centre. It also funds some infrastructure.
Legal basis: National Capital Region Planning Board Act, 1985.
Example: A buyer in the region reads the regional plan for land use categories before investing.
Agent tip: The regional plan can affect land use in the NCR. Check it with the local master plan.
Related: NCR (National Capital Region) Master Plan Zoning (Land Use Zone)
Also called: NCLT, Insolvency Tribunal
The tribunal that hears company insolvency and related matters, including cases against insolvent builders. Home buyers who have paid for flats count as financial creditors under the insolvency law, and they can take part in the process.
Example: A builder in Gurugram goes into insolvency before the NCLT, and the flat buyers file their claims through an interim resolution professional.
Agent tip: If a builder faces insolvency, file your claim on time with the resolution professional. Keep your agreement and receipts ready.
Related: Insolvency Consumer Commission Allottee Promoter
The authority that builds, maintains and operates national highways. Its alignments, access rules and land acquisition shape nearby property values, and building close to a national highway requires its permission for access and setback.
Example: A plot near NH-44 at Lalru gains value after a new interchange is announced by NHAI, and the buyer checks the access rules.
Agent tip: Check proposed highway alignments with NHAI before buying a plot near a highway. Land can be acquired for widening.
Related: Right of Way (ROW) Land Acquisition (RFCTLARR Act, 2013) Setback
A development finance institution for housing, set up under the National Housing Bank Act, 1987. It refinances housing lenders and runs housing finance schemes.
Example: A housing finance company borrows from NHB.
Agent tip: Home loan regulation now rests mainly with the RBI.
Related: Housing Finance Company (HFC) Reserve Bank of India (RBI)
Also called: New Bombay
A planned city across the harbour from Mumbai, developed in nodes such as Vashi, Nerul, Kharghar, Panvel and Ulwe. CIDCO was the main planning authority, and the city is known for planned plots, rail links and a new airport zone.
Example: A Dadar family shifts to Kharghar for a larger flat, noting that the local train runs on the harbour line.
Agent tip: Many Navi Mumbai plots are CIDCO leasehold, so check the lease terms and any transfer permissions during resale.
Related: CIDCO MMR (Mumbai Metropolitan Region) Leasehold Property MahaRERA
Also called: Nazool Land, Nazul
Government-owned urban land that is not managed as revenue land, often leased out in the past to private people or bodies for a fixed term. Several cities have rules for renewal or conversion to freehold.
Example: A flat in an older locality of Prayagraj stands on nazul land with a lease that expired. The buyer needs to know whether the lease has been renewed.
Agent tip: For nazul land, ask for the lease deed, the renewal order and any pending dues. Banks often avoid expired-lease properties.
Related: Leasehold Property Freehold Property Lease Deed Development Authority
A financial company regulated by RBI that lends but does not hold bank deposits like a bank. Many give loans against property.
Example: A self-employed buyer borrows from an NBFC when a bank rejects the file.
Agent tip: NBFCs may lend where banks decline, often at higher rates.
Related: Housing Finance Company (HFC) Home Loan
The National Consumer Disputes Redressal Commission, the highest consumer forum, which hears claims above ₹2 crore based on the price paid.
Example: A group of buyers files a case in the NCDRC against a large builder.
Agent tip: Before RERA, many buyers used the Commission for relief.
Related: Consumer Commission RERA Authority
The region around Delhi, covering parts of Haryana, Uttar Pradesh and Rajasthan, planned by the National Capital Region Planning Board. It includes Gurugram, Noida, Ghaziabad and Faridabad.
Example: A buyer compares flats in Noida (UP) and Gurugram (Haryana), which have different RERA authorities.
Agent tip: Each NCR state has its own rules. Always state which one applies.
Also called: NAV
The income from a let-out house for tax purposes, found from the higher of the expected rent and the actual rent, less municipal taxes paid by the owner. From NAV, the 30% standard deduction and home loan interest are deducted.
Legal basis: Section 23 of the Income-tax Act, 1961 (renumbered in the 2025 Act).
Example: A landlord in Chandigarh earns ₹4 lakh in rent, pays ₹20,000 in municipal tax, and so starts with a net annual value of ₹3.8 lakh.
Agent tip: Keep municipal tax receipts. Only taxes the owner actually paid in the year reduce the value.
Related: Income from House Property Standard Deduction (House Property) Property Tax
Annual rent less operating costs such as maintenance, property tax and management, before loan payments and income tax.
Example: Rent of ₹12 lakh a year and costs of ₹2 lakh give an NOI of ₹10 lakh.
Agent tip: Use NOI to compare investments before financing.
Related: Capitalisation Rate Rental Yield
Also called: NPV
The value today of all future cash inflows from an investment minus the money invested, using a chosen discount rate. A positive NPV means the project earns more than the required return.
Example: An investor pays ₹80 lakh for a flat and discounts future rent and resale value at 9%. If the sum is ₹85 lakh, the NPV is positive ₹5 lakh.
Agent tip: Compare projects using the same discount rate. A higher rate lowers the NPV.
Related: Discounted Cash Flow (DCF) Internal Rate of Return (IRR) Return on Investment (ROI)
The space inside a unit that a person can actually furnish and use, after deducting columns, shafts and similar obstructions from the floor area. It is a practical term and has no statutory definition.
Example: Two flats may both show 800 sq ft carpet area, but the one with large projecting columns leaves less net usable space for furniture.
Agent tip: Use it during site visits to explain why two units of the same carpet area can feel very different.
Related: Carpet Area Built-Up Area
A planned township area near Mullanpur in SAS Nagar district, Punjab, developed under GMADA's planning.
Example: A buyer considers a plot in the New Chandigarh area.
Agent tip: Check approvals and the master plan for the exact sector.
Also called: Navi Sharat Jamin, Navi Satta Prakar
Land in Gujarat given by the government on conditions, often for farming, that restrict sale or non-agricultural use unless the Collector approves and a premium is paid. Land without such conditions is called old tenure land.
Example: A plot near Surat is found to be new tenure in the 7/12. The seller must first get permission and pay the premium before the buyer can build a residential project.
Agent tip: In Gujarat, always check whether land is old or new tenure. The premium can be a large part of the price.
Related: Satbara Utara (7/12) Agricultural Land Jantri Revenue Record
Also called: Rajarhat
A planned township on the north-eastern edge of Kolkata, developed by the Hidco authority, with an IT hub, large housing complexes and wide roads. It is a major growth area of the Kolkata region.
Example: A Salt Lake family shifts to a flat in Rajarhat for a larger home closer to Action Area office parks.
Agent tip: Check whether the land belongs to Hidco, a private owner or a lease arrangement, since the paperwork differs.
Related: WBRERA Township (Integrated) Master Plan Leasehold Property
Also called: Residex, NHB Residential Price Index
A residential price index started by the National Housing Bank, which tracked housing prices in many Indian cities using data from sources such as banks and registration records. Check whether and how it is currently updated.
Example: A researcher compares an NHB Residex series for a city over a decade to see long-run price movements.
Agent tip: Do not treat any index as a price for one flat. Use it for background only.
Related: National Housing Bank (NHB) RBI House Price Index Capital Appreciation
Also called: நிலம்
A Tamil word for land. In property listings it can mean any land, including farmland, so the type of land should be confirmed.
Example: A family in Erode sells ancestral nilam and asks whether it can be converted for housing.
Agent tip: Ask for the classification and the patta for any "nilam" before treating it as a building site.
Related: Agricultural Land Patta Change of Land Use (CLU) Plot
A certificate from a developer, society or utility confirming that all dues such as maintenance, electricity and water charges have been paid up to a date.
Example: Before the sale deed is signed, the seller produces a no dues certificate from the society.
Agent tip: Ask for it from the society, the electricity board and the municipality before you close a resale.
Related: Society Charges Property Tax No Objection Certificate (NOC)
A document from a person or authority stating that they have no objection to a proposed action, such as a sale, mortgage, construction or transfer.
Example: A resale flat in a society needs an NOC from the society, and sometimes from the bank that holds the mortgage.
Agent tip: Collect all the NOCs at the start of a deal. Missing NOCs cause delays at registration.
Related: No Dues Certificate Co-operative Housing Society Mortgage
The New Okhla Industrial Development Authority, which plans and develops the city of Noida in Uttar Pradesh. Greater Noida and Yamuna Expressway areas have their own authorities.
Example: A Noida plot buyer pays the authority's transfer charges when reselling.
Agent tip: Authority dues and transfer charges decide resale cost in Noida.
Related: Development Authority UP-RERA
Transfer of a buyer's rights in an allotted unit to another person before the sale deed, with the developer's approval. Developers often charge a transfer fee.
Example: A buyer who cannot continue with a booking transfers it to a relative through the builder's nomination form.
Agent tip: Get the transfer endorsed by the developer in writing. A private transfer without the developer's approval is risky.
A nominee named in a society, bank or insurance record receives the asset to hold, but is not always the final owner. The legal heirs, under a will or the law of succession, usually decide who finally owns it. Courts have said this in many cases.
Example: A flat holder in Mumbai nominates his friend with the housing society. After his death, his children claim the flat as legal heirs, and the society transfers it only after the legal question is settled.
Agent tip: Tell clients that nomination alone does not replace a will. Make a will for flats, shares and accounts.
Related: Will Legal Heir Certificate Co-operative Housing Society Nomination (Transfer of Allotment)
A legally authorised person who attests documents and administers oaths. Notarisation proves identity and signing but does not prove ownership or validity of title.
Example: A rent agreement is notarised, but a notary stamp does not make a sale deed valid.
Agent tip: Do not accept a notarised paper in place of a registered deed.
Related: Affidavit Apostille Registration (Property)
Also called: Quit Notice, Termination Notice
A written notice by a landlord or tenant to end a periodic tenancy, giving the period of notice the law or lease requires. The Transfer of Property Act sets minimum notice periods for monthly and yearly tenancies, which local laws or contracts may alter.
Legal basis: Transfer of Property Act, 1882, Section 106.
Example: A landlord in Mohali sends a written notice to quit to a month-to-month tenant, ending the tenancy after the notice period.
Agent tip: Check that the notice is in writing, signed and delivered with proof. Defective notices are a common reason eviction cases fail.
Related: Tenancy at Will Eviction Tenant Transfer of Property Act, 1882
A loan on which the borrower has stopped paying interest or instalments for 90 days or more. Banks may take recovery action once an account becomes an NPA.
Example: A builder's loan becomes an NPA after payments stop for three months, and the bank starts recovery.
Agent tip: Check whether a builder's project loan is an NPA. It signals financial stress.
Related: SARFAESI Act Insolvency
Also called: NRE Account, NRO Account
Bank accounts for NRIs. An NRE account holds money earned abroad and can be sent back freely, while an NRO account holds income earned in India, such as rent, and is subject to limits and tax on transfer abroad.
Legal basis: Governed by the Foreign Exchange Management Act, 1999 and RBI rules.
Example: A Singapore-based owner of a Panchkula flat has the rent credited to an NRO account and uses an NRE account to pay the home loan EMI from foreign earnings.
Agent tip: Rent from Indian property goes into an NRO account. Plan repatriation with documents early.
Related: NRI (Non-Resident Indian) NRI Home Loan Repatriation of Sale Proceeds
A home loan given by an Indian lender to a non-resident Indian to buy or build a residential property in India. Banks look at foreign income, employment abroad, and the repayment account, which is usually an NRE or NRO account.
Example: Arvind, working in Dubai, takes an NRI home loan to buy a flat in Zirakpur and pays EMIs from his NRE account.
Agent tip: Expect more paperwork, such as attested income proof and a local power of attorney or relative for signing. Start early.
Related: NRI (Non-Resident Indian) Special Power of Attorney (SPA) NRE and NRO Accounts
An Indian citizen who lives outside India. Under foreign exchange law, NRIs and OCI cardholders may buy residential and commercial property in India, but not agricultural land, plantation property or a farmhouse.
Legal basis: Foreign Exchange Management Act (FEMA), 1999 and RBI rules.
Example: An NRI in Dubai buys a Mohali flat through his NRE account and a power of attorney.
Agent tip: Payment must come through banking channels. Taxes on sale are different for NRIs.
Related: Power of Attorney (POA) TDS on Sale by NRI Apostille
Also called: Occupation Certificate, Certificate of Occupancy
A certificate from the local authority declaring that a building is fit to live in and complies with the sanctioned plan and safety norms. It is also called the occupation certificate.
Legal basis: Defined in Section 2(zf) of the RERA Act, 2016. The promoter must obtain it and give it to the association of allottees.
Example: A buyer is asked to take possession of a flat before the OC is issued. This is a risk because utilities and loans may be affected.
Agent tip: Do not advise clients to accept possession without an OC. Ask for a copy of the certificate.
Related: Completion Certificate (CC) Possession Conveyance Deed
Also called: Bhogwatdar Class II, Class 2 Land, Varg 2
In Maharashtra, land held with restrictions on transfer (Class II, or bhogwatdar), as against free Class I land (bhumiswami). Selling or using it for non-agricultural purposes needs the Collector's permission and often a payment to the state.
Example: A buyer in Nashik finds the 7/12 extract showing Class II occupancy and learns that the sale needs Collector permission, and a premium may be payable to convert it to Class I.
Agent tip: Read the other rights column of the 7/12. If it says Class II, do not pay beyond the token before the permission is in hand.
Related: Satbara Utara (7/12) Gaothan Inam Land Agricultural Land
A document from a developer or seller that sets out the price, payment plan and terms of a proposed deal before the buyer commits.
Example: A developer emails an offer letter with a price sheet that is valid for 15 days.
Agent tip: Treat it as a proposal. Compare it with the agreement for sale, since terms often change.
Related: Allotment Letter Basic Sale Price (BSP)
A written notice from the developer that the unit is ready and the buyer must complete payments and take possession. Under RERA this normally follows an occupancy certificate.
Legal basis: Section 17 of the RERA Act, 2016 deals with handing over possession and documents.
Example: A developer sends an offer of possession in Mohali along with a final demand and asks the buyer to attend an inspection.
Agent tip: Check that the occupancy certificate exists before accepting. A notice without it is incomplete.
Related: Possession Letter Occupancy Certificate (OC) Section 17 (RERA)
Commercial space built for business use. It may be bare shell, warm shell or fully fitted, and is rented per sq ft per month.
Example: An IT firm takes a 5,000 sq ft fitted office on a three-year lease with annual escalation.
Agent tip: Clarify the area basis (carpet or super) and the CAM charges before comparing office rents.
Related: Co-working Space Bare Shell CAM Charges
Also called: OMR, Rajiv Gandhi Salai, IT Corridor Chennai
A Chennai IT corridor, also called Rajiv Gandhi Salai, running along the coast south of the city through Perungudi, Sholinganallur and Navalur. It has offices, apartments and educational campuses.
Example: A Chennai family looks at a flat in Navalur for easy access to their daughter's office on OMR.
Agent tip: Parts of the corridor lie near coastal zones and lakes, so check CRZ and flood history for the plot or building.
Related: Coastal Regulation Zone (CRZ) CMDA TNRERA Micro-market
A project that was under development when RERA's registration provisions began and had not yet received a completion certificate. Such projects had to register.
Legal basis: First proviso to Section 3(1) of the RERA Act, 2016.
Example: A tower started in 2015, without a completion certificate by May 2017, had to be registered.
Agent tip: A project that says it is "exempt as ongoing" needs checking. Ask for its completion certificate.
Also called: OBPS, e-Building Permit
An online platform adopted by many cities and states where architects submit plans, documents and fees digitally and the authority scrutinises and sanctions them, aiming for a faster, more transparent process.
Example: A builder in Indore uploaded drawings through the state portal and tracked scrutiny stages without visiting the office.
Agent tip: Check the portal's status page and download the approved plan yourself instead of relying on photocopies.
Related: Building Plan Approval Sanctioned Plan Single Window Clearance
A listing that an owner places with several agents at once, with commission going to the agent who closes the sale.
Example: An owner lists a flat with five agents and pays only the one who brings the buyer.
Agent tip: Expect lower effort on open listings, since agents may not invest time.
Related: Exclusive Mandate Brokerage
The Odisha Real Estate Regulatory Authority, which regulates projects and agents in Odisha, including Bhubaneswar.
Example: A Bhubaneswar buyer checks the project on the ORERA portal.
Agent tip: Odisha uses decimal as a land unit.
Related: RERA Authority Decimal
Also called: Pagri, Pugree, Salami
A tenancy practice found in Mumbai and Gujarat in which a tenant pays a large upfront sum, along with low monthly rent, to get a long-lasting right in the premises. The tenant can often pass it on to heirs, and the owner shares in a sale or redevelopment.
Example: A tenant in an old Mumbai shop holds it on pagdi at a nominal rent. When the owner wants to redevelop, they negotiate a share of the new area.
Agent tip: Redevelopment or sale of a pagdi property needs the tenant's agreement. Check the tenant's rights first.
Related: Statutory Tenant Rent Control Act Redevelopment Tenant
Also called: Pugree
A Mumbai practice where a tenant pays a large lump sum to the landlord to get or continue a tenancy at a low monthly rent, and may later share the sale value of the building. Legal rights depend on the tenancy law and agreement.
Example: A shop tenant in old Mumbai paid pagri decades ago and now claims a share in the redevelopment.
Agent tip: Do not buy or sell a pagri tenancy without legal advice. Rights differ between old rent control cases.
Related: Rent Control Act Tenant Landlord
The village-level local self-government body. In rural areas it manages common land and may approve building plans where the state law gives it that role.
Example: A village plot sale needs checks on the panchayat's role in common land.
Agent tip: Check for shamlat land and the panchayat's no-objection.
Related: Shamlat Deh Abadi Deh
A planned city in Haryana next to Chandigarh, with numbered sectors. Projects fall under HRERA and the Haryana town planning rules.
Example: A buyer chooses a builder floor in a Panchkula sector.
Agent tip: Quote the sector and check HRERA registration.
The Punjab Apartment and Property Regulation Act, 1995, Punjab's state law on the sale of apartments, plots and colonies. It requires licences for colonisers and sets conditions for sales.
Legal basis: Punjab Apartment and Property Regulation Act, 1995. RERA now works alongside it.
Example: A Punjab colony needs a PAPRA licence and now a RERA registration as well.
Agent tip: For Punjab colonies, ask for both the PAPRA licence and the RERA registration.
Related: RERA Authority Colony Licence PUDA
A low wall along the edge of a terrace or balcony for safety.
Example: A terrace parapet of 3 feet is required by building rules in many cities.
Agent tip: Check the parapet height for safety on terraces and balconies.
Related: Terrace Area Balcony Area
Space for vehicles in a building or colony. It may be open, covered, stilt, basement or mechanical, and may be free or sold separately.
Legal basis: Under the RERA Act, open parking is part of the common areas (Section 2(n)). A garage, meaning a covered space with walls on three sides, is defined in Section 2(y). Check your state's rules and the agreement.
Example: A buyer pays ₹3 lakh for a covered slot that the agreement shows as part of the common area.
Agent tip: Read the parking terms in the agreement before the booking amount is paid, and note whether the slot is numbered and in the sale deed.
Related: Stilt Basement Common Area
A certificate that allows occupation of a completed part of a project, such as one tower, while the rest is still under construction.
Example: A township receives a part OC for Tower A, so those buyers can take possession.
Agent tip: Check that the part OC covers the tower and floor of your client's unit.
Related: Occupancy Certificate (OC) Completion Certificate (CC)
A rule that protects a buyer who has taken possession under a written contract and has performed or is willing to perform his part. Since 2001 the contract itself must be registered, or the protection is lost.
Legal basis: Transfer of Property Act, 1882, Section 53A.
Example: A buyer holds possession under a registered agreement to sell, having paid part of the price and being ready to pay the rest. He can defend that possession against the seller.
Agent tip: It protects possession, but does not give ownership. Check that the agreement is registered, and get the sale deed registered.
Related: Agreement to Sell (ATS) Sale Deed
Also called: Batwara, Batwara Deed
A document by which co-owners divide a jointly held property among themselves, so that each gets a separate share. It should be stamped and registered.
Example: Three brothers inherit a plot and sign a registered partition deed that gives each a separate 100 gaj portion.
Agent tip: Before buying a plot from one co-owner, ask for a partition deed or the consent of all co-owners.
Related: Joint Ownership Release Deed Hindu Undivided Family (HUF)
Also called: Suit for Partition, Batwara Case
A civil case in which a co-owner asks the court to divide a jointly held property and give a separate share. The court decides each party's share and may order division on the ground or a sale with the money shared.
Example: One of four heirs of a Bhopal house files a partition suit because the others refuse to divide it. The court appoints a commissioner to measure the shares.
Agent tip: Properties under a partition suit often cannot be sold cleanly. Check whether a preliminary decree or final decree exists.
Related: Partition Deed Joint Ownership Civil Court Lis Pendens
A land record of possession and tax liability, used in Tamil Nadu, Andhra Pradesh, Telangana and some other states, issued by the revenue department. It records the holder, survey number and extent of land. It is not by itself proof of title.
Example: A buyer in Chennai asks the seller for the patta along with the sale deed.
Agent tip: Check the patta in the current owner's name. The patta may lag behind the sale deed if it has not been transferred.
Related: Chitta Undivided Share of Land (UDS) Revenue Record
A village-level revenue official in northern states who maintains land records, field maps and crop entries.
Example: A patwari enters a mutation after the tehsildar's order.
Agent tip: In Punjab and Haryana, you may need the patwari for records such as a field map or girdawari.
Also called: PG, Hostel Accommodation
A room or bed in a house or building let to students or working people, usually with meals and basic services included. Owners often run it informally, but larger operators now follow organised models. Local police may require tenant verification.
Example: A homeowner in Kharar rents four rooms as PGs to students of a nearby college, charging per bed with meals.
Agent tip: Use a written agreement with house rules and ID proofs of each guest. Check local verification rules and society permission.
Related: Co-living Space Student Housing Rent Agreement Tenant
The schedule in which a buyer pays the price, for example down payment, construction-linked or possession-linked.
Example: A buyer takes a 10:80:10 plan: 10% at booking, 80% in stages and 10% at possession.
Agent tip: Match the payment plan with the buyer's loan disbursement schedule.
Related: Construction-Linked Plan Possession-Linked Plan Down Payment
A written acknowledgement by the seller or builder that a sum has been received, stating the amount, date, mode of payment and purpose. It proves what has been paid towards a property and is needed in disputes and tax filings.
Example: Kavita pays Rs 5 lakh by cheque to a Mohali builder and asks for a receipt that names the unit and states that the money is part payment.
Agent tip: Take a receipt for each payment, including bank transfers. Avoid cash payments, which are hard to prove and can cause tax issues.
Related: Earnest Money Booking Amount Token Amount Demand Letter
A locality in Zirakpur near the Chandigarh border, known for residential societies, shops and highway access. It is popular with buyers who want Chandigarh access at lower prices.
Example: A buyer from Chandigarh looks at a flat in Peer Muchalla for lower cost and quick access to the city.
Agent tip: Check traffic at peak hours and the project's approvals. Travel time matters more than distance.
The penalty for an agent who breaks Section 9 or 10: ₹10,000 for each day of default, up to a total of 5% of the cost of the plot, apartment or building for which the agent facilitated the sale.
Legal basis: Section 62 of the RERA Act, 2016. Sections 65 and 66 cover agents who do not obey orders of the authority or tribunal.
Example: An agent sells a unit without a valid registration for 20 days. The penalty can run per day, up to the cap.
Agent tip: Keep your registration valid and renewed.
Related: Section 9 (RERA) Section 10 (RERA) Real Estate Agent
Buyers are also covered. An allottee who fails to comply with the Authority's orders can face a penalty up to 5% of the unit cost. Disobeying the Tribunal's orders can bring up to one year in prison, a fine up to 10%, or both.
Legal basis: Sections 67 and 68 of the RERA Act, 2016.
Example: An allottee refuses to pay the dues the Authority ordered and is penalised under the Act.
Agent tip: Buyers should treat the Authority's directions as binding too. Pay as ordered, or appeal on time.
Related: Allottee Section 19 (RERA) Section 63 (RERA)
The penalty for a promoter who does not register a project under Section 3: up to 10% of the estimated project cost, and if the default continues, imprisonment up to three years, a further fine of up to 10%, or both.
Legal basis: Section 59 of the RERA Act, 2016.
Example: A developer sells flats in a project with no registration. The authority can penalise him.
Agent tip: Do not market unregistered projects.
Related: Section 3 (RERA) Pre-launch Sale
A luxury apartment on the top floor of a building, usually with a large terrace and premium views.
Example: A penthouse on the 18th floor includes a 600 sq ft private terrace.
Agent tip: Verify that the terrace is allotted exclusively to the penthouse in the sale agreement.
Related: Terrace Area Duplex Floor Rise Charges
Also called: Chandigarh Periphery
A belt of land around Chandigarh where construction and land use are controlled by law to protect the planned capital from unplanned growth. Colonies in it need specific approvals.
Example: A buyer asks whether the plot near the Chandigarh border lies in the periphery area and what approvals apply.
Agent tip: Ask the authority for confirmation of which controlled area rules apply to a plot.
Related: Tricity Zoning (Land Use Zone) Approved Layout
Also called: Fuel Station Site, Retail Outlet Site
A plot used for a fuel retail outlet, normally leased to an oil marketing company or its dealer. The site needs location approval, licences for storage and explosives, and road access rules. Landowners earn lease rent over a long term.
Example: A landowner on a highway near Ambala leases 1 kanal to an oil company for a retail outlet and earns monthly rent.
Agent tip: Check road-access approvals and distance rules before promising a plot as suitable for a fuel station.
Related: Commercial Plot Kanal Lessor Lease Deed
When a large project is built in phases, each phase is treated as a standalone project and must be registered separately. Each phase gets its own number, timeline and separate bank account, so one phase's delay or default does not automatically extend to another.
Legal basis: Explanation to Section 3(1) of the RERA Act, 2016.
Example: A township near Lalru launches Phase 1 with 200 plots and Phase 2 six months later. Each phase carries a different RERA number and completion date.
Agent tip: Quote the number of the phase a buyer is booking in, not the township's headline brand. Check that the plot or flat belongs to the registered phase.
Related: Section 3 (RERA) RERA Registration Number Plotted Development
Also called: Actual Possession
Actual handing over of the property so that the buyer can enter and use it, as opposed to a paper transfer. Having the keys and being able to occupy the property is the usual sign that physical possession has passed.
Example: The builder hands the keys to the buyer after the final inspection and takes a signed receipt.
Agent tip: Take possession in writing, with the meter readings and defects list noted.
Related: Possession Possession Letter Snagging
A deep foundation made of long columns driven or bored into the ground to reach firm soil or rock. It is used for tall buildings and weak soils.
Example: A tower near a river uses bored piles that reach a hard layer 25 metres below.
Agent tip: Piling for tall towers is a normal sign of careful design. It is not a defect.
Related: Foundation Raft Foundation
Also called: Plaster, Lipai
A coat of cement or gypsum mortar applied over masonry or concrete to give a smooth, even surface for paint. It also protects brickwork from weather. Typical work involves a rough coat first and a finishing coat afterwards.
Example: A buyer in Mohali tapped a freshly plastered wall and heard a hollow sound, which showed the plaster had not bonded to the wall.
Agent tip: Tap along walls at the time of snagging. A hollow sound points to loose plaster that will crack later.
Related: Snagging Specifications Efflorescence
The portion of a building between the ground and the floor level. Plinth height protects the building from flooding and dampness.
Example: A house is built with a plinth 2 feet above the road so water does not enter in monsoon.
Agent tip: Check the plinth level in flood-prone areas.
Related: Plinth Area Foundation Damp Proof Course (DPC)
The built-up area measured at the floor level just above the foundation, covering the outer dimensions of the building. Municipal bodies and valuers use it to estimate construction cost.
Example: A single-storey house measuring 40 ft by 30 ft on the outside has a plinth area of 1,200 sq ft.
Agent tip: Valuers quote construction cost per sq ft of plinth area. Know the term when reading a bank valuation report.
Related: Built-Up Area Plinth Valuation Report
Also called: Tie Beam
A horizontal reinforced concrete beam cast at plinth level, just above the foundation, that ties the columns or walls together. It spreads loads evenly and stops the wall base from cracking if the ground settles unevenly.
Example: At a Kharar villa site, the engineer had the plinth beam cast around the whole footprint before any brickwork began above ground.
Agent tip: When visiting a site under construction, ask to see photos of the plinth beam steel before it was concreted. It is hidden forever afterwards.
Related: Plinth Foundation Beam
Also called: Plinth Checking
A certificate or inspection report, given by the authority or the architect, confirming that construction up to plinth level matches the sanctioned plan and setbacks. In many places work above the plinth continues only after it.
Example: A builder in Lucknow obtained a plinth level clearance after officials checked the footprint against the sanctioned drawing.
Agent tip: Ask whether your city requires a plinth check. Skipping it can lead to stop-work notices later.
Related: Plinth Commencement Certificate Setback
A defined parcel of land, sold for residential, commercial or industrial use. In a RERA-registered plotted development the promoter must provide roads, drains and services as promised.
Legal basis: RERA covers plotted developments that exceed 500 sq m of land.
Example: A 300 gaj residential plot in an approved colony in Kharar with all services ready.
Agent tip: Check approvals, layout plan, demarcation and mutation. Plot frauds are the most common complaint in this segment.
Also called: Plot Merger
Joining two or more neighbouring plots into one plot, with the authority's approval, so a single larger building can be built. The land records and sanctioned layout are updated to show one plot.
Example: Two neighbours in Sector 20 Panchkula merged their plots to build a larger home and applied to the authority.
Agent tip: Amalgamation without approval can cause problems with title and sanction. Get the order in writing.
Related: Plot Subdivision Layout Plan Mutation
The total area of the land parcel as recorded in the sale deed or revenue record, usually in sq yards, marla, kanal or square metres. It is not the same as the built-up area allowed on it.
Example: A 200 sq yard plot in Mohali with a ground coverage limit of 60% allows only a 120 sq yard footprint.
Agent tip: Check plot area in the deed against the physical measurement from demarcation before quoting a rate.
Related: Demarcation Ground Coverage Gaj (Square Yard)
Also called: Land Purchase Loan, Plot Purchase Loan
A loan to buy a residential plot, usually offered at a smaller percentage of the plot price than a home loan for a flat. Banks may require the borrower to build within a stated period, and tax benefits differ from those of a home loan.
Example: Kavita buys a ₹40 lakh plot in New Chandigarh and the bank finances a smaller share than it would for an apartment of the same price.
Agent tip: Confirm the plot is in an approved layout. Banks refuse plots in unauthorised colonies.
Related: Plot Approved Layout Loan-to-Value (LTV)
Also called: Plot Sub-division
Splitting one plot into smaller plots, with the permission of the planning authority. Minimum plot size, road access and layout rules apply, and the land records are updated after approval.
Example: A landowner near Kharar wanted to divide an acre into residential plots but was told the layout needed approval first.
Agent tip: Be wary of plots sold by informal splitting of land. They may not get a sanction or utility connections.
A project in which a promoter divides land into plots, lays roads and utilities and sells the plots. The buyer builds the house later.
Legal basis: Registrable under RERA when the land exceeds 500 sq m.
Example: A 40 acre plotted colony with 300 plots is advertised with parks, a gated entry and water lines.
Agent tip: Confirm that the RERA project registration number appears in all advertising for the plotted scheme.
Related: Plot Layout Plan Approved Layout
Also called: Pradhan Mantri Awas Yojana - Gramin, PMAY-G
The rural housing scheme of the central government that gives financial help to eligible poor rural households to build a basic pucca house. Beneficiaries are identified through official surveys and the money goes directly to their bank accounts.
Legal basis: Implemented by the Ministry of Rural Development.
Example: A family living in a kacha house in a village near Rupnagar is on the official beneficiary list and receives assistance in stages as their house reaches plinth, lintel and completion.
Agent tip: Tell rural clients that this is not a loan for buying property in the market. Eligibility comes from the official list, not from an application to an agent.
Related: Pradhan Mantri Awas Yojana (PMAY) Pucca Construction Kacha Construction
The Pune Metropolitan Region Development Authority, which plans the Pune region outside the city corporation limits.
Example: A plot near Pune's outskirts is under PMRDA's development plan.
Agent tip: Check PMRDA rules for peripheral projects.
Related: Development Authority Master Plan
Also called: Pradhan Mantri Unauthorised Colonies in Delhi Awas Adhikar Yojana
A central scheme for residents of unauthorised colonies in Delhi to receive ownership or transfer rights over their properties, with registration, so that they can get legal title and sell or mortgage them.
Example: A resident of an unauthorised colony in west Delhi used the scheme to register her house in her name.
Agent tip: Even after regularising title, check whether the building plan itself is approved, as that is a separate matter.
A raised platform or lower floors of a tower, often used for parking and amenities, on which residential towers rise.
Example: A project has a 4-level podium for parking with gardens and a pool at the top.
Agent tip: Ask how podium parking is allotted and if the podium area is included in the price.
A traditional clustered neighbourhood of closely built houses in old Ahmedabad, with a gated lane entrance and shared community spaces. Houses in a pol have special features, and redevelopment there is different from that in modern societies.
Example: A buyer considers a heritage house in a pol and asks about the heritage building rules.
Agent tip: Check heritage rules, shared walls and neighbours' consent before buying or redeveloping a house in a pol.
Related: Redevelopment Independent House Legal Title Report Resident Welfare Association (RWA)
A traditional house in the old walled city of Ahmedabad, built in a cluster known as a pol with a shared gate and narrow lanes. Pol houses are often wooden-fronted and heritage-valued, with special transfer customs and repair limits.
Example: A buyer inspects a pol house in old Ahmedabad and learns that the cluster has its own rules on sale and repairs.
Agent tip: Check any local custom or association rules and heritage limits on repairs before agreeing a price.
Related: Heritage Property Haveli
Also called: Poramboku, Porombok
Land in Tamil Nadu, Kerala and nearby states that belongs to the government or the public and is not assessed for revenue, such as water bodies, tanks, channels, grazing land and roads. It cannot normally be sold to private persons.
Example: A broker in Chennai offers cheap plots by a lake. The revenue map shows them as water-body poramboke, so no valid title can arise from the deed.
Agent tip: Check the land classification in the patta or village records. Anything marked poramboke is a major red flag.
Related: Patta Chitta Revenue Record Gair Mumkin
Also called: Handover, Handing Over
Physical handover of a completed unit to the buyer. It is separate from registration of the sale deed. The buyer should take it only after an occupancy certificate is issued.
Legal basis: Section 19(10) of the RERA Act, 2016 requires the allottee to take possession within two months of the occupancy certificate.
Example: A buyer inspects the flat, signs the possession letter and receives the keys.
Agent tip: Do not accept possession without an occupancy certificate and a snag list.
Related: Occupancy Certificate (OC) Possession Letter Snagging
Also called: Possession and Non-Attachment Certificate
A certificate issued by a revenue officer or village official that records who is in actual possession of a piece of land or house. It is used for loans, building permits and sometimes registration in states such as Kerala. It does not prove ownership.
Example: In Thrissur, a bank asks the buyer for a possession certificate from the village office to show that the seller is in possession of the plot.
Agent tip: Treat it as supporting proof only. Do not rely on a possession certificate in place of a registered title.
Related: Possession Thandaper Revenue Record Title
A list a buyer uses at handover to check the unit against the agreement, from the area and specifications to fittings, utilities, keys and documents. Faults noted in writing support a claim under the defect liability period.
Example: Walking through a new flat in Pune, Meera ticks off the checklist and notes cracked tiles and a leaking balcony drain in writing, before signing the possession letter.
Agent tip: Do not sign a possession letter stating all is perfect when defects exist. Record defects on the letter or in an annexure.
Related: Possession Letter Snagging Defect Liability Period Specifications
The date for giving possession of a unit, as stated in the agreement for sale. If the promoter misses it, the allottee has rights under Section 18.
Example: An agreement states possession by 31 December 2026 with a six-month grace period.
Agent tip: Check any "grace period" clause and any extension granted by the authority.
Related: Section 18 (RERA) Delay Interest Force Majeure
Also called: Handover Letter
A letter from the developer confirming that physical possession of the unit has been handed to the buyer, usually after final payment.
Example: A buyer receives the possession letter and the keys together after paying the last instalment.
Agent tip: Check the unit before accepting. Note defects in writing at the time of handover.
Related: Possession Snagging Defect Liability Period
A payment plan in which a large share of the price is paid only at possession, so the buyer pays less during construction.
Example: A developer offers 20% at booking and 80% on possession.
Agent tip: Developers often raise the price for possession-linked plans. Compare the totals.
Related: Payment Plan Down Payment
Also called: PT Slab
A concrete slab reinforced with steel cables that are tensioned after the concrete hardens. This allows thinner slabs and longer spans, useful for car parks and offices, but cutting or drilling it without a plan can damage the tensioned cables.
Example: A commercial tower in Gurugram used post-tensioned slabs to get column-free floor plates for its office tenants.
Agent tip: Never core or drill into such slabs without the structural consultant's approval and a cable layout drawing.
A north-eastern Mumbai suburb around Powai Lake, known for a technical institute, office parks and many gated residential complexes. It is a long-established micro-market for professionals.
Example: A software couple chooses to rent in Powai because both offices are within a short ride.
Agent tip: Check the society's maintenance and parking rules before renting or buying, since large complexes have set charges.
Related: Gated Community Micro-market MMR (Mumbai Metropolitan Region) CAM Charges
Also called: Generator Set, Diesel Generator Backup
An alternate electricity supply, usually a diesel generator, that starts when grid power fails. Housing projects offer backup for lifts, lights and common areas, and sometimes a limited load for each flat, often billed separately.
Example: A Kharar society offered 2 kW backup per flat, with charges billed per kVA on the monthly maintenance invoice.
Agent tip: Check the backup load per flat and the billing basis. Many buyers assume full backup and find only partial cover.
Related: MEP (Mechanical, Electrical and Plumbing) Amenities CAM Charges
Also called: Mukhtarnama, Attorney (Power of)
A document by which one person (the principal) authorises another (the agent) to act on their behalf. For property, the powers must be clearly written, and the document must be properly executed and stamped.
Legal basis: Powers of Attorney Act, 1882 and Registration Act, 1908 (Section 33 lists which powers of attorney are accepted for registration, including those signed abroad).
Example: An NRI authorises his brother through a POA to sign a registered sale deed on his behalf.
Agent tip: A POA is not ownership. Verify that the principal is alive, and the POA has not been revoked, before relying on it.
Related: General Power of Attorney (GPA) Special Power of Attorney (SPA) NRI (Non-Resident Indian)
The central government's housing scheme. PMAY-Urban 2.0, approved in 2024, aims at 1 crore urban houses with an interest subsidy for eligible households. PMAY-Gramin supports rural housing.
Example: A family with an annual income within the limit applies for the interest subsidy on a loan for its first home.
Agent tip: Eligibility, limits and deadlines change. Check the official portal before promising a subsidy.
Related: Affordable Housing Home Loan
A method where building components such as slabs, columns, beams or wall panels are cast in a factory and lifted into place on site. It improves quality and speed but needs good transport, cranes and well designed joints.
Example: A warehouse developer near Sonipat used precast columns and roof beams to finish the structure before the monsoon.
Agent tip: Precast is common for warehouses and affordable housing. Ask how the joints between elements are made and waterproofed.
Related: Framed Structure RCC (Reinforced Cement Concrete) Warehouse
Also called: Pre-Possession Interest
Interest paid on a home loan before the house is completed or possession is taken. It cannot be claimed at once. It is added up and claimed in five equal yearly instalments starting from the year of completion, within the overall interest limit.
Legal basis: Section 24(b) of the Income-tax Act, 1961; the 2025 Act renumbers it.
Example: Kirti pays interest for three years before her builder hands over a Zirakpur flat, and claims the total over five equal years after possession.
Agent tip: Tell buyers of under-construction flats to keep every interest certificate, including those for years before possession.
Interest-only payments made on the amount disbursed during construction, before full EMIs begin.
Example: A buyer pays pre-EMI on ₹20 lakh disbursed for the first two stages of construction.
Agent tip: Explain that under a construction-linked plan, the bank disburses in stages.
Related: EMI (Equated Monthly Instalment) Construction-Linked Plan Subvention Scheme
Extra charges for units with better location features, such as a park view, corner position or main road.
Example: A flat facing the central park carries a PLC of ₹150 per sq ft.
Agent tip: Ask what exactly triggers the PLC and whether the view is protected by the approved plan.
Related: Basic Sale Price (BSP) Floor Rise Charges
Also called: Pre-launch, Presale
Selling or taking bookings in a project before RERA registration. RERA prohibits advertising, marketing, booking or selling a project before registration.
Legal basis: Section 3(1) of the RERA Act, 2016.
Example: A developer collects "expression of interest" cheques from buyers before registering the project. That is a violation.
Agent tip: Do not take part in pre-launch bookings. Check the registration number first.
Related: RERA Registration Number Booking Amount
A commercial property that already has a tenant and a lease in place when sold, so the buyer receives rent from day one.
Example: An investor buys an office with a tenant on a five-year lease at ₹1.2 lakh a month.
Agent tip: Read the lease for lock-in, escalation and exit rights. Check the tenant's strength.
Related: Lease Deed Rental Yield Escalation Clause
Extra floor space index that a developer can buy from the authority by paying a charge, above the basic permitted FSI. It allows more built area on the same plot, usually along transit lines or in specific zones.
Example: A Mumbai builder paid a premium to the corporation to add extra floors to a mid-rise tower near a metro station.
Agent tip: Ask whether a project's area depends on premium or TDR. Delays in these approvals can delay the project.
Related: Floor Space Index (FSI) Transferable Development Rights (TDR) Fungible FSI
Paying part or all of a loan before schedule. From 1 January 2026, RBI directions bar prepayment charges on floating-rate loans to individuals for non-business purposes.
Example: A borrower uses a bonus of ₹3 lakh to prepay part of the loan, which shortens the tenure.
Agent tip: Confirm the prepayment terms in the sanction letter and the current RBI directions, since some loan types differ.
Related: Tenure Home Loan Floating Interest Rate
The process of agreeing a final price between buyer and seller. Agents help each side by presenting evidence such as nearby sale rates, condition and demand, and keep both parties talking. Good negotiation also covers payment schedule and extras, not only the headline rate.
Example: A buyer asks for a lower rate. The agent shows two nearby resale deals and the seller agrees to a smaller cut with a faster payment.
Agent tip: Negotiate the whole package, including parking, club fees and dates. Do not give your commission in place of a price cut without written permission.
Related: Counter Offer Basic Sale Price (BSP) Comparable Sales (Comps) Token Amount
A statement of the full price of a unit, including base price, charges, taxes and other items, with the payment schedule.
Example: A cost sheet lists base price, PLC, parking, club charges and GST.
Agent tip: Always ask for the cost sheet before discussing affordability. Compare the all-in price, not the headline rate.
Related: Basic Sale Price (BSP) Preferential Location Charges (PLC) Payment Plan
Also called: Housing Affordability Ratio
The average price of a home divided by the average annual household income in an area. A higher ratio means housing is less affordable. It is used to compare cities or track affordability over time.
Example: If homes in a city cost ₹60 lakh and the typical household earns ₹6 lakh a year, the ratio is 10.
Agent tip: Use it to explain why a market is stretched, not to predict a price fall.
Related: Affordable Housing Home Loan Eligibility Capital Appreciation
Also called: Price to Rent Multiple
The purchase price of a property divided by one year's rent it could fetch. A high ratio suggests buying is expensive compared with renting, and a low ratio suggests the opposite. It is a quick tool, not a full analysis.
Example: A flat costing ₹90 lakh that rents for ₹25,000 a month has a yearly rent of ₹3 lakh, so the ratio is 30.
Agent tip: Use the ratio to compare localities. Remember that it ignores loan costs, appreciation and tax.
Related: Rental Yield Rent vs Buy Analysis Capitalisation Rate
A court's certificate that a will is genuine and that the executor can administer the estate. It is the safest proof of a will, and it is required in some cases.
Legal basis: Indian Succession Act, 1925 (Sections 57 and 213). Whether probate is required depends on the testator's religion and where the will was made, for example in the old Presidency towns of Mumbai, Chennai and Kolkata. Elsewhere it is generally optional.
Example: A buyer in Chennai insists on a probated will before buying a flat that came by inheritance.
Agent tip: Ask a lawyer whether probate is required for that will, and ask for it where the title comes by will.
A one-time charge by a lender for handling a loan application, usually a percentage of the loan.
Example: A bank charges 0.5% of the loan amount plus GST as processing fee.
Agent tip: Ask for any fee waivers and compare total costs.
Related: Home Loan Sanction Letter
Also called: Benami Act, PBPT Act
The law that bans benami transactions, where a person buys property in another's name but pays for it and enjoys it. The Act, amended in 2016, lets authorities attach and confiscate benami property and provides penalties.
Legal basis: Prohibition of Benami Property Transactions Act, 1988 (earlier called the Benami Transactions (Prohibition) Act), as amended in 2016.
Example: A trader in Ludhiana buys a plot in his driver's name. The tax authorities attach it as a benami property.
Agent tip: Buy in the true buyer's own name or a legally allowed form, such as a spouse's name for the family's benefit. Avoid arrangements that look like name-lending.
Related: Benami Transaction Title Registration (Property) Joint Ownership
Also called: PMC
A firm hired by a developer or owner to plan, supervise and control a construction project on their behalf, handling schedule, cost, quality and contractor coordination. It is separate from the architect and the builder.
Example: A large township in Mohali hired a PMC to track contractor progress and report monthly to the promoter.
Agent tip: A named PMC is a good sign for a large project. Ask who it is and how often it reports.
Related: Turnkey Critical Path Method (CPM) Bill of Quantities (BOQ)
The person or company that develops or sells a real estate project. It includes builders, developers, development authorities when they sell, and anyone who constructs and sells units.
Legal basis: Defined in Section 2(zk) of the RERA Act, 2016.
Example: A developer who builds a 200-flat project and sells it is a promoter under RERA.
Agent tip: Many obligations in the Act fall on the promoter. Know them when you advise buyers.
Related: Allottee Real Estate Project RERA
The record of ownership for urban land in Maharashtra and some other states, maintained by the City Survey department. It shows the owner, area and encumbrances.
Example: A buyer in Pune checks the property card to confirm the owner of an urban plot.
Agent tip: For urban properties in Maharashtra, check the property card as well as the sale deed.
Related: CTS Number Index II Revenue Record
Also called: Home Insurance, Building Insurance
Insurance that covers a building and its contents against damage from fire, flood, earthquake and similar risks. Banks often require it for the property they finance, and it differs from loan life insurance, which covers the borrower.
Example: After a short circuit damages the wiring in Rina's Sector 20 house, her building insurance pays part of the repair bill.
Agent tip: Insure for the rebuilding cost, not the market price of land plus building.
Related: Home Loan Insurance Mortgage Structural Stability Certificate
Narrowing many options to a few properties by matching the buyer's budget, location, size, possession date and approvals. A good shortlist is limited to a handful, with reasons for each.
Example: From twenty options, the agent shortlists three flats in Panchkula within budget and near the buyer's office.
Agent tip: Do not overload clients. Three to five well-chosen options are easier to compare than twenty.
Related: Lead Qualification Site Visit Comparable Sales (Comps)
A yearly tax on property owners collected by the municipal body, based on size, use, location and age of the property.
Example: A flat owner pays property tax to the municipal corporation each year, with a rebate for early payment.
Agent tip: Ask the seller for the latest property tax receipt. Arrears pass to the new owner in practice.
Related: No Dues Certificate Municipal Corporation
Also called: Tax Clearance Certificate, House Tax Receipt
A certificate from the local body that confirms the property tax up to a date has been paid and nothing is due. Some cities need it for registration, mutation or sale permission.
Example: Before the sale of a house in Ludhiana, the buyer asks the seller to get a property tax clearance certificate from the municipal corporation.
Agent tip: Unpaid property tax usually stays with the property. Ask the seller to clear it and give the receipt before the deal closes.
Related: Property Tax No Dues Certificate Municipal Corporation Mutation
Also called: Self-Assessment of Property Tax, SAS
A system in which owners calculate and declare their own property tax using the municipality's formula, then pay it. The authority may later check the figures and demand extra tax with penalty if the declaration was wrong.
Example: Under the self-assessment scheme, Pritam enters his plot area, built-up area and use on the municipal portal and pays the tax it calculates.
Agent tip: Keep the receipt. It is useful evidence of ownership and of an updated municipal record when you sell.
Related: Property Tax Urban Local Body Municipal Corporation
Technology used in property, such as online listings, virtual tours, digital document checks, CRM and AI search.
Example: A buyer takes a virtual tour of a flat before a site visit.
Agent tip: Use technology for convenience, but verify documents against official records.
Related: CRM Site Visit
Also called: Public Premises (Eviction of Unauthorised Occupants) Act, 1971
A central law under which government authorities can remove unauthorised occupants from public premises and recover dues through an estate officer, in a faster process than an ordinary civil suit.
Legal basis: Public Premises (Eviction of Unauthorised Occupants) Act, 1971.
Example: A person stays on in a railway-owned quarter after his lease ends, and the estate officer orders his eviction.
Agent tip: For government or authority property, learn whether this law applies. It affects how an eviction is done and where it is challenged.
Related: Eviction Nazul Land Development Authority Civil Court
Also called: Public Use
The kind of objective for which the government may take private land by law, such as infrastructure, defence, public housing and projects of public use. The Act lists what qualifies, and courts can examine whether an acquisition truly serves a public purpose.
Example: A landowner in Haryana challenges the acquisition of his land for a private commercial scheme, saying it is not a public purpose.
Agent tip: When a land acquisition notice arrives, read the stated purpose carefully. A mismatch may give grounds to object.
Related: Land Acquisition (RFCTLARR Act, 2013) Social Impact Assessment (SIA) Solatium Civil Court
Permanent construction of durable material such as brick, stone or concrete, with a solid roof.
Example: A concrete-roof house of brick and cement counts as pucca.
Agent tip: Banks usually finance pucca construction only.
Related: Kacha Construction Home Loan
The Punjab Urban Planning and Development Authority, which plans and develops urban areas in Punjab and issues approvals through its offices.
Example: A buyer in Ludhiana checks whether a colony has PUDA approval.
Agent tip: Check which authority covers the area. Some areas are with GMADA, others with PUDA.
Related: GMADA Development Authority Approved Layout
The Puducherry Real Estate Regulatory Authority for the Union Territory of Puducherry.
Example: A buyer in Puducherry checks the registration status of a project with the authority.
Agent tip: Confirm the current portal and procedure with the authority.
Related: RERA Authority
A Punjab government corporation that develops industrial estates and allots industrial plots. Plots allotted by it carry conditions on use, construction and transfer that buyers must check.
Example: A buyer of an industrial plot at an estate near Chandigarh asks PSIEC for the transfer conditions.
Agent tip: Industrial plots need the allotting body's permission for transfer. Get it in writing.
Related: Industrial Plot PUDA Leasehold Property
Also called: Quarterly Progress Report, QPR
A report the promoter must publish on the project's web page on the authority's portal every quarter, covering apartments booked, approvals and the stage of work.
Legal basis: Section 11(1) of the RERA Act, 2016, and state rules.
Example: A buyer reads the project's quarterly update and sees that the 8th floor slab is complete.
Agent tip: Compare the quarterly progress with the site and the demand letters.
Related: Promoter Demand Letter Escrow Account
The right of a tenant or buyer to use a property without interference from the landlord or seller, subject to the law.
Example: A landlord who locks a tenant out breaches the tenant's right to quiet enjoyment.
Agent tip: The agreement should mention this right.
Related: Easement Lease Deed
A thick concrete slab that spreads the building load over its whole base area. It is used where soil is weak or loads are heavy.
Example: A basement parking level sits on a raft foundation that spreads the weight of the tower.
Agent tip: Raft foundations are common in basement projects. Ask for the structural drawings if you doubt the design.
Related: Foundation Pile Foundation Basement
Permission from the railway authorities needed when a project is close to railway land or needs a bridge, crossing or utility passing the track. It protects safety and future railway expansion.
Example: A township near a Punjab junction waited for the railway's NOC before building an access road that crossed the line.
Agent tip: When a plot adjoins railway land, ask if the NOC is in hand. Missing one can stop road or utility works.
Related: No Objection Certificate (NOC) Right of Way (ROW) Height Clearance (AAI NOC)
Collecting and storing rainwater for use or to recharge groundwater. Many cities require it in new buildings.
Example: A society collects roof water into a recharge pit.
Agent tip: Many local rules require rainwater harvesting in sanctioned plans.
Related: Green Building Sanctioned Plan
The Rajasthan Real Estate Regulatory Authority, which registers projects and agents in Rajasthan, including Jaipur.
Example: A Jaipur agent applies for registration through the Rajasthan RERA portal.
Agent tip: Rajasthan land records and bigha measures differ by area.
Related: RERA Authority Bigha Jaipur Development Authority (JDA)
Also called: RBI HPI, All-India House Price Index
A quarterly index published by the Reserve Bank of India that tracks changes in housing prices across major cities, built from property registration data. It shows the trend in prices rather than the price of an individual home.
Example: A newspaper reports that the RBI's index shows prices up compared with the same quarter last year, but a buyer in a small town cannot use it to price a flat.
Agent tip: Use it for the trend, and local sale deeds for an actual price.
Related: Reserve Bank of India (RBI) NHB Residex Capital Appreciation
Concrete strengthened with steel bars, used for foundations, columns, beams and slabs in most Indian buildings. It combines the compressive strength of concrete with the tensile strength of steel.
Example: A 12-storey apartment building uses an RCC frame, with brick or block walls filling the gaps.
Agent tip: Ask about the structural design and the engineer in charge. These details matter more than the marketing words.
The name for the government's minimum property rates in Maharashtra, published each year and used to compute stamp duty.
Example: A buyer in Pune checks the annual ready reckoner for the zone and floor before agreeing a price.
Agent tip: Ready reckoner rates vary by zone, use and age of building. Use the official tables.
Related: Circle Rate Stamp Duty
Also called: RMC
Concrete prepared at a central batching plant to a specified strength and delivered to the site in transit mixers. Quality is easier to control than with hand mixing on site, and it suits large pours for slabs and columns.
Example: For a slab pour at a Sector 80 project, six transit mixers arrived in sequence so the pour was continuous and no cold joints formed.
Agent tip: Ask the builder whether RMC is used for structural elements and whether cube test results are kept for each pour.
A property that is complete, has its occupancy certificate and can be occupied immediately.
Example: A buyer who needs a home by next month chooses a ready-to-move flat over an under-construction one.
Agent tip: RTM units cost more but carry less delivery risk. Check the OC.
Related: Under-Construction Property Occupancy Certificate (OC)
Also called: Property Dealer, Property Agent
Under RERA, a person who, for a fee or commission, brings buyers and sellers together or helps in the sale or purchase of a plot, apartment or building in a real estate project. Such a person must be registered with the state RERA authority.
Legal basis: Defined in Section 2(zm) of the RERA Act, 2016. Registration is required under Section 9.
Example: Mr. Arora introduces buyers to a registered Zirakpur project and earns a commission. Without a RERA registration he cannot lawfully do so, and Section 62 allows a penalty of ₹10,000 a day, up to 5% of the cost of the property sold.
Agent tip: Display your RERA registration number on your visiting cards, website and ads.
Related: RERA Agent Registration Channel Partner Broker
Also called: Project
A development of land or buildings for sale, including the common areas and any infrastructure, as defined in the Act. It covers apartments, plots, commercial units and mixed-use schemes.
Legal basis: Defined in Section 2(zn) of the RERA Act, 2016.
Example: A plotted colony of 50 plots on 5 acres is a real estate project.
Agent tip: Check whether the project meets the registration thresholds, and that each phase is registered.
Related: Section 3 (RERA) Promoter Plotted Development
A revenue document that records ownership, tenancy and related rights over a land parcel. It is the legal base for revenue collection and land transactions.
Example: A buyer checks that the RoR names the seller as owner and shows no tenant or loan entry.
Agent tip: Match the owner's name in the RoR with the name in the sale deed. A mismatch needs correcting before purchase.
Related: Revenue Record Mutation Jamabandi
A route for enforcing money orders without a separate civil suit. The Authority sends a recovery certificate to the revenue authorities, who may attach and sell the defaulter's property to realise the dues as they would for unpaid land revenue.
Legal basis: Section 40(1) of the RERA Act, 2016.
Example: A promoter owes a Kharar buyer a refund plus interest. After the order goes unpaid, the district recovery officer attaches the promoter's unsold flats.
Agent tip: Give the Authority accurate details of the promoter's known assets. It speeds up recovery.
Related: Section 40 (RERA) Delay Interest Tehsildar
A document that corrects an error, such as a wrong name, area or boundary, in an earlier registered deed. It is signed by both parties and registered.
Example: A sale deed misspells the buyer's name and shows 2,200 sq ft instead of 2,020 sq ft. The parties sign a rectification deed.
Agent tip: Correct errors immediately. They affect mutation, loans and later resale.
Related: Sale Deed Supplementary Deed
Rebuilding an old building or society with new construction, usually by a developer who gives owners new flats and sells extra units.
Example: A 40-year-old society appoints a developer to rebuild and gives each member a flat with 25% more area.
Agent tip: In society redevelopment check the development agreement, the corpus and the timelines.
Related: Joint Development Agreement (JDA) Co-operative Housing Society
A fee paid to a person for introducing a client, without carrying out sales work.
Example: A customer refers a friend to a project and receives ₹25,000 on booking.
Agent tip: Check whether the referral arrangement triggers the need for registration under the law in your state.
Related: Brokerage Real Estate Agent
A planning document covering a wider region beyond city limits, setting broad land uses, transport corridors and growth areas for several towns and villages. City master plans must fit within it.
Example: A farmland buyer near Panipat checked the Regional Plan and found his land was in a zone meant for industrial growth.
Agent tip: For land outside cities, the regional plan, not the city master plan, usually decides what can be done.
Related: Master Plan Zoning (Land Use Zone) Change of Land Use (CLU)
Also called: RRTS, Namo Bharat
A faster regional rail service, built by the National Capital Region Transport Corporation, linking Delhi with other NCR cities. The Delhi-Ghaziabad-Meerut corridor runs under the Namo Bharat name; other corridors have been planned.
Example: A Meerut resident working in Delhi looks for a flat near an RRTS station to cut the daily commute.
Agent tip: Check which corridors are operating, as others are under construction or proposed. Plan around the actual line status.
Related: NCR (National Capital Region) Metro Rail Transit Oriented Development (TOD) Ghaziabad
Also called: Government-Approved Valuer
A professional enrolled under the Companies (Registered Valuers and Valuation) Rules, 2017 to value land and buildings, plant, securities or other assets. Many financial and tax matters call for a valuation by a registered valuer.
Legal basis: Companies Act, 2013 and the Companies (Registered Valuers and Valuation) Rules, 2017.
Example: Before settling a family property division, Rajinder hires a registered valuer for land and buildings to get an independent report.
Agent tip: Ask the valuer for the registration number and check that the asset class is land and building.
Related: Valuation Report Market Value Fair Market Value as on 1 April 2001
The office under the corporate affairs ministry where companies and LLPs are registered and file annual returns and charges. Buyers and agents can use the filings to check a developer's existence, directors and registered charges.
Legal basis: Companies Act, 2013.
Example: A buyer pays a fee to view a developer company's filings and sees a charge registered in favour of a bank.
Agent tip: Check company filings and charges as part of due diligence. A registered charge shows existing loans on assets.
Related: Due Diligence Promoter Mortgage
The state officer who registers cooperative societies, including housing societies, and supervises them. The Registrar handles disputes, elections and audit, and approves bylaws.
Example: A member of a housing society in Panchkula petitions the Registrar over a dispute about election of the committee.
Agent tip: Housing society disputes often go to the Registrar or a cooperative court first. Check the state law.
Related: Co-operative Housing Society Share Certificate Resident Welfare Association (RWA)
The state officer who registers societies under the Societies Registration Act, such as resident welfare associations, clubs and trusts. Registration gives the society a legal identity and its bylaws.
Example: A colony forms a welfare association and registers it with the Registrar of Societies to open a bank account.
Agent tip: Registered status helps an association sign contracts and open accounts. Keep annual filings current.
Related: Resident Welfare Association (RWA) Association of Allottees Co-operative Housing Society
The law that lists which documents must be registered and sets the procedure for registration.
Example: Section 17 requires registration of sale deeds, gift deeds and leases for more than one year.
Agent tip: A draft Registration Bill, 2025 has been proposed to replace it. Check the current law.
Related: Registration (Property) Sub-Registrar
A fee paid to the registration department when a document is registered. It is separate from stamp duty and is usually a small percentage of the value, sometimes with a cap.
Legal basis: Registration Act, 1908, and state fee schedules.
Example: In some states the registration fee is about 1% of the property value, while others fix a maximum amount.
Agent tip: Budget stamp duty and registration fee together. Together they add several percent to the cost of a purchase.
Under the Centre's model rules, the promoter applies in Form A, signs a sworn declaration in Form B, and receives the registration certificate in Form C. States have their own rules and sometimes their own form numbers, so the portal's current format governs.
Legal basis: Rules made under Section 84 of the RERA Act, 2016; form letters follow the Central model rules.
Example: A Zirakpur promoter uploads the application, the notarised declaration and a list of approvals on the state portal and later downloads the certificate.
Agent tip: When comparing projects across states, do not assume the same form letters. Use the state portal's own labels.
Related: RERA Rules Section 4 (RERA) RERA Registration Number
The legal process of recording a document, such as a sale deed, with the Sub-Registrar of the area, on payment of stamp duty and the registration fee. A sale of immovable property worth ₹100 or more can be made only by a registered deed.
Legal basis: Registration Act, 1908 (Section 17) and Transfer of Property Act, 1882 (Section 54).
Example: A buyer and seller attend the Sub-Registrar's office with two witnesses to register the deed.
Agent tip: Present the document within four months of signing. The Registrar can accept a delay of up to four more months on a fine, and only for unavoidable reasons. After that it cannot be registered.
Related: Sale Deed Sub-Registrar Stamp Duty
Also called: Registration Slip, Document Receipt
The receipt or slip given by the sub-registrar after a document is presented for registration, showing the document number, date and fees paid. Until the registered document is returned, it serves as proof of the registration.
Example: Ravi buys a flat in Panchkula and receives a registration receipt that day, but the original deed arrives from the registrar two weeks later.
Agent tip: Keep the receipt safely and check the date and document number against the stamped deed. It helps with mutation and loan formalities.
Related: Registration (Property) Sub-Registrar Registration Fee Sale Deed
Also called: Registree
Everyday north Indian word for registering a sale deed at the sub-registrar office. People say "registry ho gayi" to mean ownership has been transferred and registered. It is also used for the registered deed itself.
Example: A buyer in Zirakpur says the registry is fixed for Friday at the sub-registrar office.
Agent tip: Explain that registry is different from mutation. Buyers must also get the land records updated.
Related: Registration (Property) Sale Deed Mutation Sub-Registrar
The day on which the sale deed is signed and registered at the sub-registrar office with both parties, witnesses and the required identity documents. Agents arrange appointments, stamp duty and fees, and make sure all papers are ready.
Example: An agent books a slot at the sub-registrar's office, brings stamp paper and meets both parties there with witnesses.
Agent tip: Do a mock check of documents a day before, including photos, ID proofs and payment proofs.
Related: Sale Deed Sub-Registrar Registration (Property) e-Stamping
Also called: Building Regularization Scheme, BRS
A government scheme that lets an unauthorised building or colony be legalised on payment of fees and compliance with set conditions. Terms differ by state and time.
Example: A state offers a one-time regularisation scheme for plots in unauthorised colonies.
Agent tip: Regularisation does not cure every defect. Read the scheme's cut-off dates and conditions.
Related: Unauthorized Construction Compounding
Also called: R&R, Punarvas
Benefits given to families affected by land acquisition, such as housing, land, employment or cash support, in addition to compensation. The 2013 Act sets a framework, and states add their own schemes.
Example: Families displaced by a dam project in Madhya Pradesh receive plots in a resettlement colony, in addition to the compensation for their land.
Agent tip: If your land or house lies in an acquisition notice, ask about R&R entitlements as well as compensation. They are separate.
Related: Land Acquisition (RFCTLARR Act, 2013) Solatium Social Impact Assessment (SIA) Public Purpose
Also called: REIT Payout, Distributable Cash Flow
The income a REIT passes on to its unit holders, which must be at least 90% of its net distributable cash flows under SEBI rules. It comes from rent and similar sources, and may be taxed partly as interest, dividend or rent.
Legal basis: SEBI (Real Estate Investment Trusts) Regulations, 2014.
Example: A unit holder receives a quarterly payout from a REIT that owns office parks, funded by tenants' rent.
Agent tip: Distribution yield changes with unit price and occupancy. Compare it over several quarters.
Related: REIT (Real Estate Investment Trust) SM REIT Rental Yield
Also called: REIT NAV
The value of a REIT's properties plus other assets, minus its debts, divided by the number of units. An independent valuer values the properties regularly. A REIT unit can trade above or below its NAV in the market.
Example: A REIT's NAV per unit is ₹350, but its units trade at ₹320 on the exchange, so they trade at a discount to NAV.
Agent tip: Compare a REIT's market price with NAV, and look at occupancy and debt before buying.
Related: REIT (Real Estate Investment Trust) Market Value Equity
A trust that owns income-producing property, such as offices and malls, and sells units to investors on a stock exchange. It distributes most of its income as dividends.
Legal basis: Regulated by SEBI under the REIT Regulations, 2014. A REIT must distribute at least 90% of its net distributable cash flow.
Example: An investor buys units of a listed REIT for ₹10,000 and receives a share of rent.
Agent tip: REITs offer exposure to commercial real estate without buying a property directly.
Related: SM REIT Rental Yield Fractional Ownership
A deed by which one co-owner gives up their share in a jointly owned property in favour of another co-owner.
Example: One sister releases her share in the ancestral house to her brother through a registered release deed.
Agent tip: When a seller claims sole ownership of inherited property, ask for release deeds from the other heirs.
A document by which a person gives up their right or claim in a property. It is often used between family members and may attract stamp duty.
Example: A daughter signs a relinquishment deed in favour of her brothers for her share in the family flat.
Agent tip: Check if the deed is registered and stamped properly. Unregistered relinquishments are a common source of later disputes.
Related: Release Deed Partition Deed Joint Ownership
Extension of an agent's RERA registration for a further term, applied for before the current registration ends. Rules on timing, fees and late penalties differ by state.
Example: An agent files for renewal three months before the expiry date, as the state rules require.
Agent tip: Put the renewal date in your calendar. Some states charge a late fee or end the registration.
Related: RERA Agent Registration Real Estate Agent
Also called: Kirayanama, Rental Agreement
The written contract between landlord and tenant on rent, deposit, period, notice and responsibilities. In many states a rental agreement under one year is not compulsorily registered, but it should be stamped.
Example: A 11-month rent agreement on stamp paper records a ₹25,000 monthly rent and a two-month security deposit.
Agent tip: Insist on a written, stamped agreement. Without it, a tenant has few clear rights.
Related: Lease Deed Leave and License Agreement Security Deposit
A state law that regulates rent, eviction and tenant rights in some areas, often protecting old tenants. Many states are replacing it with the Model Tenancy Act.
Example: In an old tenancy under the Rent Control Act, the rent is fixed at a very low level and the landlord cannot easily evict.
Agent tip: Before buying a tenanted property, check if the tenant has protected rights.
Related: Model Tenancy Act Eviction Tenant
Also called: Annual Rent Increase Clause
A term in a lease or rent agreement that raises the rent by a set percentage after a fixed period, such as every year or every three years. It protects the landlord from inflation and lets the tenant plan.
Example: A Chandigarh office lease raises the rent by 5% each year, so the tenant knows what he will pay in year three.
Agent tip: Specify the percentage and the dates. Vague rules cause disputes.
Related: Rent Agreement Lease Deed Escalation Clause
Also called: Rent or Buy
A comparison of the cost of renting a home with the cost of buying one, including the down payment, EMI, taxes, maintenance and the return the money would earn if invested elsewhere. The answer depends on price, rent, loan rate and how long you will stay.
Example: A young couple in Mohali compares a rent of ₹22,000 with the EMI, maintenance and lost investment return on a ₹70 lakh flat, and decides to rent for three more years.
Agent tip: Let the client stay time, job stability and savings drive the answer. Buying is rarely a good fit for a short stay.
Related: Price-to-Rent Ratio Home Loan Down Payment
The part of an office or shop area on which rent is charged. In commercial buildings it usually includes the usable area plus a share of common areas. Lease agreements should state how it is measured.
Example: An office tenant in Gurugram paid rent on rentable area that was about a fifth larger than the space inside his door.
Agent tip: Ask the landlord how rentable area is measured and who verified it. A small difference changes rent materially.
Related: Net Usable Area Loading Factor Grade A Office
Annual rent as a percentage of the property's price. Residential yields in India are often modest, while commercial property can yield more.
Example: A flat worth ₹80 lakh rents for ₹25,000 a month. The yield is ₹3 lakh divided by ₹80 lakh, or 3.75%.
Agent tip: Show gross and net yield, after costs such as tax and maintenance.
Related: Capitalisation Rate Net Operating Income (NOI) Return on Investment (ROI)
Also called: Repatriation of Property Sale Money
Sending money from the sale of an Indian property abroad. An NRI generally must pay tax first and meet limits set under FEMA, with a limit of one million US dollars a year from NRO funds, and file Forms 15CA and 15CB.
Legal basis: Foreign Exchange Management Act, 1999 and RBI rules; check the current limits.
Example: After selling his Mohali flat and paying tax, Ajay gets a chartered accountant's certificate before sending the balance to his foreign account.
Agent tip: Tell NRI sellers to obtain tax clearance, Form 15CA and Form 15CB documents before the sale completes.
Related: NRE and NRO Accounts TDS on Sale by NRI NRI (Non-Resident Indian)
Also called: Policy Repo Rate
The rate at which the Reserve Bank of India lends short-term money to commercial banks. It is the central bank's main policy rate, and when it moves, home loan rates linked to it usually move too after the next reset date.
Example: After the RBI's monetary policy committee cut the repo rate, Gurpreet in Ludhiana saw the rate on his repo-linked home loan fall at the next quarterly reset.
Agent tip: Do not promise clients that a rate cut will automatically reach them. Ask the lender when the next reset falls and whether the spread has been fixed.
Related: Repo-Linked Lending Rate (RLLR) Reserve Bank of India (RBI) Floating Interest Rate
A home loan rate linked to the Reserve Bank of India's repo rate. RBI requires new floating-rate retail and small-business loans to follow an external benchmark since 1 October 2019.
Example: A bank sets the home loan rate at repo plus a fixed spread.
Agent tip: Ask about the spread, the reset date and any spread charge for existing borrowers.
Related: Floating Interest Rate MCLR (Marginal Cost of Funds based Lending Rate)
The Real Estate (Regulation and Development) Act, 2016: the central law that regulates the sale of plots, apartments and buildings in registered projects. It created a regulator in each state, requires projects and agents to register, and gives buyers defined rights.
Legal basis: Assented to on 25 March 2016. Most sections were in force from 1 May 2016, and the registration provisions (Section 3 and others) from 1 May 2017.
Example: A buyer in Zirakpur checks the project on the Punjab RERA portal before paying the booking amount, as RERA allows.
Agent tip: RERA is a central Act, but each state notifies its own rules and runs its own authority. Fees and procedures differ by state.
Related: RERA Authority Promoter Allottee Real Estate Agent
Also called: Separate Account (70% Rule), RERA Designated Account
The separate bank account in which a promoter must deposit 70% of the money collected from buyers for a project. The money may be used only for land and construction costs of that project, and withdrawals follow the percentage of work completed.
Legal basis: Section 4(2)(l)(D) of the Real Estate (Regulation and Development) Act, 2016.
Example: A developer in Mohali collects ₹10 crore from buyers and must place ₹7 crore in the project's separate account, drawing on it as an engineer, architect and chartered accountant certify progress.
Agent tip: Ask the promoter for the account details and the latest certified withdrawals. Mismatch between collections and construction is a warning sign.
The registration that a real estate agent must obtain from the state RERA authority before facilitating sales in a RERA project. Fees, validity and documents are set by each state's rules.
Legal basis: Section 9 of the RERA Act, 2016 and state RERA rules.
Example: A Panchkula agent applies on the state portal with ID proof, address proof, photographs and the prescribed fee, and receives a registration certificate.
Agent tip: Renew before the expiry date. Working with a lapsed registration exposes you to penalties.
Related: Real Estate Agent RERA Registration Number Renewal of Registration
Also called: Appellate Tribunal, RERA Appellant Tribunal
The forum that hears appeals against orders of the RERA authority or the adjudicating officer. A promoter who appeals must first deposit at least 30% of any penalty, or the full amount payable to the allottee, as the Act provides.
Legal basis: Sections 43 and 44 of the RERA Act, 2016. Further appeal lies to the High Court under Section 58.
Example: A builder appeals against a refund order and must deposit the amount due to the buyer.
Agent tip: Mention the deposit rule to buyers who worry that appeals will delay refunds.
Related: RERA Authority Adjudicating Officer
Also called: Authority, Regulatory Authority
The state or Union Territory regulator set up under the Act to register projects and agents, hear complaints and enforce the law.
Legal basis: Section 20 of the RERA Act, 2016.
Example: A buyer files a complaint with the state RERA authority about a delayed project.
Agent tip: Know which authority covers the project. Each state has its own portal.
The Real Estate Regulatory Authority, Bihar, which registers projects and agents in Bihar, including Patna.
Example: A Patna agent applies for registration through the Bihar RERA portal.
Agent tip: Mutation in Bihar is called dakhil kharij.
Related: RERA Authority Dakhil Kharij
The Karnataka Real Estate Regulatory Authority, the regulator for Karnataka including Bengaluru. It is often written K-RERA, which is also the short form used for Kerala.
Example: A Bengaluru buyer checks a project's registration number on the Karnataka RERA portal.
Agent tip: Check which state a K-RERA reference refers to.
Related: RERA Authority Khata (Karnataka) BDA
The Real Estate Regulatory Authority, Punjab. It registers projects and agents in Punjab, including Mohali, Zirakpur, Kharar and Ludhiana.
Example: A Zirakpur project is checked on the Punjab RERA portal before sales begin.
Agent tip: Punjab also has its own apartment and property law (PAPRA) and development authorities such as GMADA and PUDA.
Related: RERA Authority GMADA PUDA PAPRA
Also called: RERA ID, RERA Number
A unique number given by the state authority to a registered project or agent. It lets buyers verify the registration on the authority's portal, and state rules require it in advertisements.
Example: A flyer for a project in Panchkula must show its RERA number, which the buyer then checks on the portal.
Agent tip: Never take a booking without checking the number on the official portal.
Related: RERA Authority Real Estate Agent
The rules made by each state or Union Territory under Section 84 of the Act. They set forms, fees, interest rates, agent registration and procedures. The central Model Rules are only a template.
Legal basis: Section 84 of the RERA Act, 2016.
Example: One state sets agent registration at ₹10,000 for individuals, while another sets a different amount.
Agent tip: Always read the rules of the state in which you work.
Related: RERA Real Estate Agent
A buyer can approach the RERA Authority or a consumer commission for a delayed or defective home. The Supreme Court held in 2020 that RERA does not bar consumer remedies, so the buyer chooses the forum, but should not run both for the same relief.
Legal basis: Sections 79 and 88 of the RERA Act, 2016; Imperia Structures Ltd v Anil Patni (Supreme Court, 2020).
Example: A buyer of a delayed flat in Panchkula files with the RERA Authority for refund, while a neighbour approaches the consumer commission for the same relief.
Agent tip: Compare time, cost and the relief each forum can grant. Do not file for the same relief in two forums.
Related: Consumer Commission NCDRC Section 79 (RERA)
If a builder is in insolvency, the process under the Insolvency and Bankruptcy Code can pause actions against the company. Homebuyers are treated as financial creditors, and a group threshold applies for starting a case against a builder. A RERA order may be hard to enforce during this period.
Legal basis: Insolvency and Bankruptcy Code, 2016, as amended in 2018 and 2020.
Example: A Zirakpur builder enters insolvency, and a buyer with a RERA refund order has to file a claim with the resolution professional.
Agent tip: Check whether the builder faces insolvency proceedings before suing. Insolvency can change the route to recover money.
Related: Insolvency Allottee Section 40 (RERA)
Also called: Resale
A property sold by a previous owner rather than by the developer. It is a second-hand or secondary-market sale.
Example: A buyer purchases a five-year-old flat from its owner.
Agent tip: Resale deals need extra checks on society dues, title, mutation and the seller's loan.
Related: Sale Deed No Dues Certificate Due Diligence
India's central bank. It regulates banks and housing finance companies, sets lending norms such as loan-to-value limits and prepayment rules, and regulates foreign exchange for property purchases by non-residents.
Example: RBI limits the loan-to-value ratio for home loans.
Agent tip: Check RBI circulars for loan rules.
Related: Loan-to-Value (LTV) Prepayment NRI (Non-Resident Indian)
Also called: Reserve Price (Auction)
The minimum price below which a lender will not sell a property in an auction. Bidders must offer at least this amount, and the lender sets it after valuing the property.
Example: A bank puts a mortgaged flat in Panchkula up for e-auction with a reserve price of ₹48 lakh, and the first bid must be at or above it.
Agent tip: Buyers at auction should check the reserve price, the earnest money deposit, and any dues on the property before bidding.
Related: Bank Auction Property SARFAESI Act Distress Sale Value
An association of residents that manages the common affairs of a colony or society, such as security, parks and maintenance. It is common in plotted colonies and sectors.
Example: An RWA in a Mohali sector organises security and waste collection.
Agent tip: In a plotted colony, check how the RWA is funded and registered.
Related: Society Charges Gated Community
Also called: Awasiya Plot, Housing Plot
A parcel of land in an approved layout where the permitted land use is housing. The buyer builds a home within the setback, height and coverage rules of the local authority. Only residential use is allowed unless the use is formally changed.
Example: Mr. Gill buys a 200 sq yard residential plot in an approved Kharar sector and plans a two-storey house on it.
Agent tip: Confirm that the plot is in an approved layout and that its size and road width match the sanctioned plan before taking a booking.
Related: Plot Approved Layout Setback Ground Coverage
Also called: Tax Residency, Resident vs Non-Resident
A person's tax status for the year, as resident, resident but not ordinarily resident, or non-resident. It depends on the number of days spent in India and decides whether income earned abroad is taxed in India. It differs from the FEMA definition of NRI.
Legal basis: Section 6 of the Income-tax Act, 1961; the 2025 Act has a corresponding provision.
Example: Prakash spends 130 days in India this year and a long time abroad earlier, and his accountant checks which stay test applies before his tax return.
Agent tip: NRI sellers should have residency worked out by a CA before a sale, since it decides the tax and the deduction at source.
Related: NRI (Non-Resident Indian) Double Taxation Avoidance Agreement (DTAA) TDS on Sale by NRI
Also called: Residual Method, Development Method
A way to value land that a developer plans to build on. It takes the expected sale value of the finished project, subtracts construction cost, approvals, finance, marketing and the developer's profit, and treats the balance as what the land is worth.
Example: A developer expects ₹120 crore from selling flats on a Zirakpur site, subtracts costs and profit, and offers the landowner what is left as land value.
Agent tip: Landowners should test the builder's cost and price assumptions before accepting the figure.
Related: Joint Development Agreement (JDA) Land Banking Highest and Best Use
A leisure property such as a resort, farm stay or hill retreat built for holidays, often on large land in a tourist area. Land use, local zoning and environmental rules, especially in hills, coasts and forests, decide whether it can be built or run.
Example: A buyer in the Kasauli belt checks the zoning and tree-cutting rules before agreeing to buy land for a small resort.
Agent tip: Always confirm land use, local building limits and coastal or forest restrictions before talking of resort potential.
Related: Hotel Property Holiday Home Coastal Regulation Zone (CRZ) Zoning (Land Use Zone)
A wall built to hold back soil at a different level, common on sloping sites and in hill areas.
Example: A hillside plot needs a retaining wall to hold the road and the building.
Agent tip: Check its design and approvals on sloping land.
Related: Foundation Boundary Wall
Also called: Retention
A percentage of each contractor payment held back by the owner until the work is finished or the defect period ends. It protects the owner if the contractor leaves defects or does not complete the job.
Example: A Sector 70 builder released the held-back amount to a facade contractor only after a year of defect-free performance.
Agent tip: If you are hiring a contractor for your own home, agree on retention money in the work order. It gives leverage to get defects fixed.
Related: Defect Liability Period Bill of Quantities (BOQ) Turnkey
The total profit from an investment as a percentage of the money put in, including rent and price gain after costs.
Example: An investor puts in ₹50 lakh, earns ₹6 lakh in rent and sells for ₹60 lakh. Total gain before tax is ₹16 lakh.
Agent tip: Include stamp duty, brokerage and taxes when you calculate ROI.
Also called: Revenue Tribunal, Revenue Officer Court
A court or officer under the revenue department, such as a tehsildar, sub-divisional magistrate or collector, which hears matters on mutation, partition of agricultural land, tenancy and land records. Civil courts often cannot decide these.
Example: A dispute over mutation of inherited farmland in Bhiwani goes to the tehsildar, and an appeal goes to the collector.
Agent tip: Know the revenue appeal chain in your state. A late appeal can lose the case on time alone.
Related: Mutation Tehsildar Revenue Record Civil Court
The government's official register of land: who owns it, who cultivates it, how large it is and what it is used for. Each state keeps its own version under names such as Jamabandi, 7/12, Khatauni or RTC.
Example: A buyer in Haryana asks for the latest Jamabandi, while a buyer in Maharashtra asks for the 7/12 extract. Both are the revenue record of that state.
Agent tip: A sale deed is a transfer document. The revenue record shows who the government treats as owner. Check both.
Related: Jamabandi Satbara Utara (7/12) Khatauni Mutation
Also called: Mauza, Mouza, Revenue Mouza
The smallest unit used in revenue records, with its own boundary, village number and set of survey numbers. A revenue village need not be the same as a hamlet or a village panchayat, and one panchayat may include several.
Example: A deed names the village as Sherpur, but the revenue village has a different name from the locality the broker uses, which makes the search at the sub-registrar difficult.
Agent tip: Use the revenue village name and number from the record when you search or write a deed, not the common name of the area.
Related: Tehsil Survey Number Revenue Record Patwari
Also called: RCM in Real Estate
A GST rule under which the buyer, not the seller, pays the tax. It applies to a promoter who buys less than the required share of inputs from registered suppliers, and to certain land or development rights supplied by landowners under joint development.
Legal basis: Notified under Section 9(3) and 9(4) of the CGST Act, 2017 and related notifications.
Example: A builder in Zirakpur buys too much material from unregistered dealers, so he pays GST himself on the shortfall under reverse charge.
Agent tip: Ask a GST consultant about reverse charge when structuring a joint development with a landowner.
Related: GST on Real Estate Joint Development Agreement (JDA) Input Tax Credit (ITC)
Also called: Reverse Mortgage Loan, RML
A loan for senior citizens, typically aged 60 or above, who own a house. Instead of paying EMIs, the borrower receives regular payments from the lender and keeps living in the house. The loan is repaid from the property's sale after the borrower's death or when they leave.
Example: Retired teacher Mohan Lal, 68, takes a reverse mortgage on his Zirakpur house and receives a monthly sum, while his children later decide whether to repay the loan or sell.
Agent tip: Explain that the loan balance grows with interest, so the heirs may inherit less. Heirs should be told the options in advance.
Related: Mortgage Senior Living Legal Heir Certificate
Also called: Cancellation of Power of Attorney, POA Revocation
A document by which the person who gave a power of attorney cancels it. A revocation is effective against third parties once they know of it, so it should be notified, and a registered power is usually cancelled by a registered deed.
Example: Mr. Thakur in Shimla learns that his agent has lost his trust and signs a registered cancellation of the power of attorney, then informs the local sub-registrar.
Agent tip: If the power was registered, register the revocation and notify buyers and banks in writing. An irrevocable power linked to an interest cannot be cancelled in this way.
Related: Power of Attorney (POA) General Power of Attorney (GPA) Cancellation Deed Sub-Registrar
The authority's power to cancel a project's registration for default, unfair practices or fraud, after a notice of at least 30 days. The authority may then arrange completion of the project, with the allottees' association having first right to take it up.
Legal basis: Sections 7 and 8 of the RERA Act, 2016.
Example: A promoter diverts escrow funds, and the authority revokes the registration and appoints someone to complete the project.
Agent tip: Check the authority's orders and the project's status on the portal.
Related: RERA Authority Association of Allottees
Also called: ROFR
A contract right under which the holder gets the first chance to buy or lease a property if the owner decides to sell, on terms offered by an outside party. It is common in commercial deals and joint ventures.
Example: A co-investor in a Gurugram office has a right of first refusal in the agreement. When the owner finds an outside buyer, he must first offer the same price to the co-investor.
Agent tip: Write how long the holder has to respond and in which form. Without a time limit, a sale can be held up.
Related: Right of Pre-emption Joint Ownership Agreement for Sale Offer Letter
Also called: Shufa, Shufa Right, Pre-emption
A right of a person, such as a co-owner or neighbour, to buy a property before it is sold to an outsider, on the same terms. It arises from custom, contract or statute, and its use has narrowed over time.
Example: In a village of Haryana, a co-sharer claims a pre-emption right when his cousin sells his share to an outsider, and a court examines whether it applies.
Agent tip: Where the property is co-owned, offer it to co-owners first, in writing. It prevents a later claim.
Related: Joint Ownership Mushtarka Malkan Land Sale Deed Right of First Refusal
The strip of land reserved for a road, including its width. It determines how wide a road can be and where building lines fall.
Example: A plot on a 60 ft ROW road has different setback and permitted use rules from a 20 ft road.
Agent tip: Check the road width, as it can decide permitted height, use and FAR.
Related: Setback Easement Master Plan
The right of a buyer to get details of a project, such as the sanctioned plan, the layout plan with specifications and the stage-wise completion schedule.
Legal basis: Section 19(1) and 19(2) of the RERA Act, 2016.
Example: A buyer asks the developer for the stage-wise schedule and the project's approvals.
Agent tip: Remind buyers that this is a right under the Act.
Related: Allottee Quarterly Update Section 19 (RERA)
A single room with a kitchen, common in older cities and affordable housing. A 1 RK has one living-cum-sleeping room and a kitchen.
Example: Mumbai chawl redevelopment projects often offer a 1 RK or 1 BHK in return for old tenements.
Agent tip: Check whether the RK is sold as a residential unit in the RERA-registered project.
Related: BHK Studio Apartment Chawl
Solar photovoltaic panels fitted on a building's roof to produce electricity. Housing societies use them for common-area loads, and many states offer net metering, which credits surplus power sent to the grid against the electricity bill.
Example: A Panchkula housing society installed rooftop panels that power the lifts and corridor lights during the day.
Agent tip: Check net metering rules with the local distribution company before promising savings to a buyer.
A series of attached houses sharing common side walls, often within a gated community. Row houses give a house-like feel at a lower plot cost.
Example: A row of eight 3 BHK houses shares side walls but has separate entrances and small front gardens.
Agent tip: Ask which walls are party walls and who maintains them.
Related: Villa Independent House Gated Community
Record of Rights, Tenancy and Crops: the land record for agricultural land in Karnataka (called Pahani in Telangana and Andhra Pradesh, where portals have changed in recent years). It shows the owner, area, crops and loans.
Example: A buyer of farm land near Mysuru reads the RTC to see the owner and any loan entry.
Agent tip: Check the RTC for the last three to five years to see changes.
Related: Revenue Record Mutation
The Act gives the government power to make rules and the Authority power to make regulations. This is why procedures, forms, fees and interest rates differ across states, even though the parent Act is common.
Legal basis: Sections 84 and 85 of the RERA Act, 2016.
Example: Two states set different complaint fees and forms, so a buyer in Mohali and one in Gurugram follow different procedures.
Agent tip: Always read your state's rules and regulations. Do not apply another state's procedure.
Related: RERA Rules RERA Authority Registration Forms (Form A, B and C)
Also called: Running Feet, RFT
A measure of length in feet along a line, used to price items like cabinets, skirting, railings and kitchen counters. It ignores the height or depth unless the rate says otherwise.
Example: A modular kitchen quote in Panchkula was priced per running foot for base cabinets and a different rate for wall cabinets.
Agent tip: Ask what the rate includes, such as hardware and the depth of units. Running foot quotes are not easy to compare.
Related: Modular Kitchen Square Foot Specifications
Also called: Rural Agricultural Land (Capital Asset Exemption)
Farmland that falls outside specified distances from a municipality or cantonment, depending on its population. For income tax it is not a capital asset, so its sale does not give rise to capital gains tax.
Legal basis: Section 2(14) of the Income-tax Act, 1961, which the 2025 Act continues under a new number.
Example: Sukhdev sells farmland in a village far beyond the notified distance from the town, and does not pay capital gains tax on the sale.
Agent tip: Distance is measured as the law prescribes, so confirm with an accountant before telling a seller the gain is free of tax.
Related: Agricultural Land Capital Gains Change of Land Use (CLU)
Also called: सदनिका
The Marathi word used in legal and official documents for a flat or apartment, as in agreements for sale of a "sadnika". Everyday speech often uses "flat" instead.
Example: A Maharashtra agreement refers to the buyer's "sadnika kramank 402", meaning flat number 402.
Agent tip: When reading Marathi agreements, check that the flat number, floor and carpet area in the sadnika description match the sanctioned plan.
Related: Flat Agreement for Sale Carpet Area MahaRERA
A deal in which an owner sells a property and takes it back on lease, raising money while continuing to use it.
Example: A company sells its office building to an investor and rents it back for ten years.
Agent tip: Check the lease terms, rent escalation and tax treatment.
Related: Lease Deed Pre-Leased Property
Also called: Auction Sale Certificate
The document issued after a bank, court or authority auction that confirms the buyer's purchase of the property. It serves as the buyer's title document after it is stamped and registered as the law needs.
Example: A bidder wins a bank auction of a flat in Mohali and receives a sale certificate. The sub-registrar registers it before the buyer applies for mutation.
Agent tip: In an auction purchase, check that the sale certificate is stamped and registered. Without that, the title is hard to prove later.
Related: Bank Auction Property SARFAESI Act Distressed Property Title Deed
Also called: Registry, Registered Sale Deed
The registered document that transfers ownership of immovable property from seller to buyer. Ownership passes only when it is executed, stamped and registered with the Sub-Registrar.
Legal basis: Transfer of Property Act, 1882 (Section 54) and Registration Act, 1908 (Section 17).
Example: Ms. Gill pays the full price for a flat. She becomes the legal owner only after the sale deed is signed in front of the Sub-Registrar and registered.
Agent tip: An agreement to sell, a receipt or a power of attorney does not make the buyer an owner. Insist on a registered sale deed.
Related: Agreement to Sell (ATS) Registration (Property) Stamp Duty Sub-Registrar
Also called: Chargeable Area
The total area a developer charges the buyer for, usually the carpet area plus walls and a share of common spaces, often called super area. It is more than the area the buyer can actually use inside the flat. RERA ties the sale price to carpet area, so saleable or super area pricing is the older practice.
Example: A flat in Mohali was sold on 1,350 square feet saleable area, but its carpet area was only about 950 square feet.
Agent tip: Always ask for the carpet area and loading factor as well. Compare projects on carpet area price, not saleable area price.
Related: Super Built-Up Area Carpet Area Loading Factor
Also called: Market Comparison Method, Direct Comparison Method
A valuation method that finds a property's value by comparing it with similar properties recently sold nearby, then adjusting for differences in size, age, floor, facing, amenities and condition.
Example: To value a 3 BHK in Sector 69, Mohali, a valuer looks at three similar flats sold last quarter and adjusts for floor and parking.
Agent tip: Use recent registered deals, not asking prices. Ask for sale deeds of comparable units.
Related: Comparable Sales (Comps) Market Value Valuation Report
The path a prospect follows from first enquiry to booking: enquiry, qualification, site visit, negotiation, booking and registration. Agents track how many leads drop at each stage to see where effort is wasted.
Example: Out of 100 enquiries, an agent finds 30 qualify, 10 visit and 2 book, then works on improving visit conversion.
Agent tip: Record each lead's stage in your CRM and review weekly. The stage with the biggest drop shows where to work.
Related: Lead CRM Lead Qualification Closing the Deal
The set of materials an agent carries for selling a project: brochure, price sheet, payment plan, floor plans, RERA details, approvals and contact for the sales team. A good kit lets the agent answer questions accurately.
Example: Before a client meeting, the agent prepares a kit with the brochure, cost sheet, RERA page and loan partner list.
Agent tip: Keep the kit updated. Outdated price sheets cause disputes.
Also called: Sales Run Rate, Sales Pace
The speed at which units in a project or area are sold, usually measured as units sold per month or per quarter. A steady rate shows demand, and a sharp slowdown can warn of weak interest or overpricing.
Example: A tower in New Chandigarh sold 60 of its 200 units in the first month, then only four a month afterwards.
Agent tip: Ask for sales data, not just brochures. Fast early sales can be driven by discounts.
Related: Absorption Rate Unsold Inventory Inventory Overhang
An industrial town near Ahmedabad in Gujarat, hosting automobile and electronics factories. Property interest includes industrial plots, warehouses and housing for workers and managers.
Example: A supplier buys a small shed in a Sanand industrial estate and checks the GIDC allotment terms.
Agent tip: Industrial estate plots usually come with allotment conditions, such as use and time to build. Read them before buying a resale plot.
Related: Industrial Plot Warehouse Industrial Corridor GujRERA
A letter from a lender confirming the loan amount, rate, tenure and conditions approved for a borrower.
Example: A bank issues a sanction letter for ₹60 lakh at a floating rate for 20 years.
Agent tip: Read the conditions, as many sanctions are subject to legal and technical clearances.
Related: Home Loan Loan-to-Value (LTV) EMI (Equated Monthly Instalment)
Also called: Building Plan, Approved Building Plan
A building drawing approved by the local authority that shows layout, dimensions, number of floors and permitted use. Construction must follow it.
Example: A builder adds an extra floor that is not in the sanctioned plan. Authorities can penalise or demolish it.
Agent tip: Compare the sanctioned plan with what is built or promised. Do not recommend units that deviate.
Related: Commencement Certificate Completion Certificate (CC) Unauthorized Construction
A law, the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, that lets banks and financial institutions take possession of and sell mortgaged property after notice to a defaulting borrower, without going to court first.
Legal basis: Under Section 13(2), the borrower gets a notice of 60 days before the lender can act.
Example: A bank issues a 60-day notice to a defaulting borrower and later auctions the mortgaged shop.
Agent tip: Bank-auction properties can be bargains, but check the notice, the reserve price and any pending challenge.
Related: Bank Auction Property Foreclosure NPA (Non-Performing Asset)
A growing corridor in south-east Bengaluru running from Agara and Bellandur to Sarjapur, with apartments, villas, plotted layouts and schools. It is popular with IT professionals working in nearby tech parks.
Example: A buyer compares an apartment near Haralur with a villa farther out on Sarjapur Road for space and travel time.
Agent tip: Many layouts here are on converted agricultural land, so check land conversion and the approving body for each plot.
Related: Change of Land Use (CLU) Plotted Development BMRDA Khata (Karnataka)
Also called: Sarsai
A small land measure used in Punjab and Haryana, one-ninth of a marla. It is used in revenue records when small plots or fractions of land are recorded precisely.
Example: A village record near Kharar showed a sale of a plot of some marlas and a few sarsahi.
Agent tip: When reading old records, convert each unit step by step: killa, kanal, marla and sarsahi.
The main land record for rural land in Maharashtra. It shows the owner, survey number, area, crops, loans and encumbrances. The "7" covers rights and "12" covers cultivation.
Example: A buyer in Nashik reads the 7/12 extract and finds a bank loan entry in the "other rights" column.
Agent tip: Ask for the latest digitally signed 7/12 and check the other rights column for loans and court orders.
Related: Ferfar 8A Extract Talathi Mahabhulekh
Also called: SBI MCLR
The highest marginal cost of funds based lending rate of the State Bank of India at the time, used in state RERA rules as the base for interest that a promoter pays on delay or an allottee pays on default.
Legal basis: Most state RERA rules set interest at this rate plus 2%, read as an annual rate. The rule number and wording differ by state.
Example: A delay of one year on ₹60 lakh paid at 11% a year gives an interest claim of ₹6.6 lakh for that year.
Agent tip: Use the SBI rate in force on the date of calculation, not an older figure.
Related: MCLR (Marginal Cost of Funds based Lending Rate) Delay Interest Section 18 (RERA)
A building type in Tricity sectors where the ground floor has shops and the upper floor has residential flats.
Example: An SCF in a Panchkula sector has a shop at ground level and a flat on the first floor.
Agent tip: Verify which floor is residential and which is commercial in the sanctioned plan.
Related: SCO (Shop-cum-Office) Commercial Property
Also called: Property Description, Chauhaddi, Boundaries of Property
The part of a deed that describes the property exactly, giving survey or khasra numbers, area, location, boundaries on four sides and sometimes the floor and flat number. A vague schedule is a common source of disputes.
Example: The schedule in a Ludhiana sale deed lists the plot number, area in square yards and the roads and neighbours on all four sides.
Agent tip: Check the schedule against the map and the site. Errors in boundaries or numbers can lead to a deed that needs rectification.
Related: Sale Deed Survey Number Rectification Deed Title Deed
A commercial plot or building in Chandigarh and Tricity sectors that combines shops on the lower floors and offices above. SCOs are sold by the authority in auctions or by developers in approved projects.
Example: A 4-storey SCO in a Mohali sector has two floors of retail and two floors of office space.
Agent tip: Check the building plan, permitted floors and the authority's allotment conditions before quoting.
Related: SCF (Shop-cum-Flat) Commercial Property GMADA
The Securities and Exchange Board of India, which regulates REITs, SM REITs and investment schemes in India.
Example: A REIT is registered with SEBI and lists on stock exchanges.
Agent tip: Check that any pooled property scheme is registered with SEBI.
Related: REIT (Real Estate Investment Trust) SM REIT Collective Investment Scheme
The section that sets the duties of registered agents: not to facilitate the sale of unregistered projects, to keep books and records, not to indulge in unfair practices, and to give buyers the documents and information they are entitled to.
Legal basis: Section 10 of the RERA Act, 2016.
Example: An agent who brings a buyer to an unregistered project breaks Section 10.
Agent tip: Verify project registration before you show a project. It protects you and the buyer.
Related: Section 9 (RERA) Real Estate Agent Penalty for Agents (Section 62)
The section that lists the promoter's duties, including a project web page, quarterly updates, handing over documents and taking responsibility until common areas are transferred.
Legal basis: Section 11 of the RERA Act, 2016.
Example: A promoter updates the project page every quarter with the booking status and approvals.
Agent tip: Use the project's web page as a source for buyer checks.
Related: Quarterly Update Promoter
Also called: HP Section 118, Section 118 Permission
A provision of the Himachal Pradesh Tenancy and Land Reforms Act, 1972, that bars a person who is not an agriculturist of the state from buying land there without the state government's permission. It is the reason outsiders cannot freely buy land in the state.
Legal basis: Himachal Pradesh Tenancy and Land Reforms Act, 1972, Section 118.
Example: A Delhi buyer wants a plot in Solan. The seller says it is a simple sale deed, but the buyer needs the state's Section 118 permission before registration.
Agent tip: For Himachal property, make Section 118 permission a condition of the agreement. Check the state's current rules, as they have been amended often.
Related: Agricultural Land Land Reforms Title Registration (Property)
The section that makes a promoter liable to compensate for loss caused by false statements in an advertisement or prospectus. A buyer who withdraws is entitled to a refund with interest and compensation.
Legal basis: Section 12 of the RERA Act, 2016.
Example: A brochure promises a swimming pool that is never built. The buyer can claim under Section 12.
Agent tip: Keep copies of brochures and ads.
Related: Mis-selling Promoter Amenities
The section that stops a promoter from taking more than 10% of the cost as an advance or application fee without first signing a registered agreement for sale.
Legal basis: Section 13 of the RERA Act, 2016.
Example: A developer asks for 25% as booking amount before an agreement. This is above the limit.
Agent tip: Warn buyers about large advances before the agreement.
Related: Booking Amount Agreement for Sale
Also called: SARFAESI Demand Notice, 60-Day Notice
The first formal notice a secured lender sends under the SARFAESI Act after a loan turns into an NPA. It gives the borrower 60 days to pay the dues, failing which the lender can take possession of the secured property and sell it.
Legal basis: Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).
Example: After eight missed instalments, a bank sends Gagandeep a notice listing the dues and giving him two months to clear them.
Agent tip: Never ignore the notice. A borrower can still settle or challenge before possession is taken.
Related: SARFAESI Act NPA (Non-Performing Asset) Debts Recovery Tribunal (DRT)
The section that requires the promoter to build as per the sanctioned plans. Changes need allottees' consent, and the promoter must repair structural defects reported within five years of possession within 30 days.
Legal basis: Section 14 of the RERA Act, 2016.
Example: A promoter wants to add a floor not in the sanctioned plan and needs the required consent.
Agent tip: Check that the building follows the approved plan.
Related: Sanctioned Plan Defect Liability Period
The section that bars a promoter from transferring the majority rights and liabilities of a project to a third party without the written consent of two-thirds of the allottees and the authority's prior approval.
Legal basis: Section 15 of the RERA Act, 2016.
Example: A developer wants to hand a stalled project to another company and must first get allottee consent.
Agent tip: Watch for takeover notices in your clients' projects.
The section that requires the promoter to take out insurance against defects in the title of the land and for construction risks, as notified.
Legal basis: Section 16 of the RERA Act, 2016.
Example: A project buys title insurance, as the rules require.
Agent tip: Ask whether the insurance requirement has been notified in your state.
Related: Title Insurance Promoter
The section that requires the promoter to execute a registered conveyance deed in favour of the allottee within three months of the occupancy certificate, where no local law says otherwise. It also requires handing over the common areas to the association.
Legal basis: Section 17 of the RERA Act, 2016.
Example: A promoter takes possession-linked payment but delays the conveyance for a year. The buyer complains.
Agent tip: Chase the conveyance after possession.
Related: Conveyance Deed Association of Allottees
The section that gives an allottee a remedy for delay. If the promoter fails to give possession by the agreed date, the allottee can withdraw and get a refund with interest and compensation, or stay and get interest for every month of delay until possession.
Legal basis: Section 18 of the RERA Act, 2016. In Newtech Promoters v State of UP (2021) the Supreme Court held that the allottee's right to a refund is unqualified.
Example: A flat due in March is not delivered. The buyer can ask for a refund with interest, or stay in the project and get monthly interest.
Agent tip: Explain both options to clients. Interest is at the SBI highest MCLR plus 2%, as per state rules.
The section that lists the rights and duties of an allottee: to know project details, to get possession, to claim a refund, and to pay on time and take possession within two months of the occupancy certificate.
Legal basis: Section 19 of the RERA Act, 2016.
Example: A buyer reads the sanctioned plan and the payment schedule of the project on the portal.
Agent tip: Remind buyers that they also owe duties: timely payment and taking possession.
Related: Allottee Section 18 (RERA)
The section that makes registration compulsory before a promoter can advertise, market, book, sell or offer a project. Registration is not needed if the land does not exceed 500 sq m or the project has no more than eight apartments (including all phases), if a completion certificate was received before the Act, or for renovation without new sales. Each phase is registered as a separate project.
Legal basis: Section 3 of the RERA Act, 2016. States may lower the thresholds.
Example: A builder plans 12 flats on a 900 sq m plot. He exceeds both limits, 500 sq m and eight apartments, so registration is required. Had the plot been 400 sq m, the Act would have exempted it unless the state has lowered the limit.
Agent tip: Under the Act, a project is exempt if it meets either test, so registration is needed only when both limits are crossed. Check your state's rules, because some states have lowered the limits.
Related: Real Estate Project Ongoing Project Pre-launch Sale
The section that lets any aggrieved person file a complaint with the authority or the adjudicating officer against a promoter, allottee or agent for a breach of the Act.
Legal basis: Section 31 of the RERA Act, 2016.
Example: A buyer files a complaint on the state portal against a builder for failure to deliver.
Agent tip: Complaint forms and fees vary by state.
Related: RERA Authority Adjudicating Officer
The section on the Authority's role in developing the real estate sector. It lets the Authority recommend measures to governments, such as single-window approvals, grievance redress against competent authorities, grading of projects and promoters, conciliation of disputes and digitising land records.
Legal basis: Section 32 of the RERA Act, 2016.
Example: An Authority suggests to its state that approvals for housing projects be time-bound through one window, to cut the delays that cause late handovers.
Agent tip: These are recommendations, not binding orders, so do not promise buyers a faster approval because of this section.
Related: Grading of Projects and Promoters RERA Authority Section 34 (RERA)
The section listing the Authority's core functions. These include registering projects and agents, running a public website, keeping lists of defaulting promoters and agents, fixing standard fees and ensuring compliance with the Act, rules, regulations and orders.
Legal basis: Section 34 of the RERA Act, 2016.
Example: A buyer in Mohali searches the state RERA website for a project's registration and finds the promoter's earlier defaults listed.
Agent tip: Use the Authority's website as your first check on any project and any agent. It is the official, public source.
Related: RERA Authority Defaulter Promoters List RERA Agent Registration
The section giving the Authority power to call for information and investigate. On a complaint or on its own motion, it can order a promoter, allottee or agent to furnish information, appoint someone to inquire, and use civil court powers such as summoning people and requiring documents.
Legal basis: Section 35 of the RERA Act, 2016.
Example: After several complaints about a Zirakpur project, the Authority orders the promoter to produce bank statements and sanction papers and appoints an inspector.
Agent tip: When filing a complaint, name the specific documents you want examined. Clear requests make it easier for the Authority to use this power.
The section on interim orders. While an inquiry is on, the Authority can restrain a promoter, allottee or agent from continuing an act that appears to contravene the Act, until the inquiry ends or further orders. It may do so without notice if it considers that necessary.
Legal basis: Section 36 of the RERA Act, 2016.
Example: During an inquiry the Authority stops a promoter from taking new bookings in a Panchkula project until a funds-diversion allegation is examined.
Agent tip: If a project is under an interim order, advise clients to hold off on new payments until the Authority's final decision.
The section that lets the Authority issue directions to promoters, allottees and real estate agents when needed to discharge its functions. These directions are binding on those concerned and are enforceable like the Authority's other orders.
Legal basis: Section 37 of the RERA Act, 2016.
Example: The Authority directs all promoters in a state to upload quarterly progress reports by a fixed date, and defaulters face action.
Agent tip: Check the Authority's directions page now and then. New compliance directions can change what agents must show in ads and papers.
The section on the Authority's powers to impose penalty or interest on promoters, allottees and agents. It must follow natural justice, can regulate its own procedure, and may refer to the Competition Commission of India any matter that appreciably affects competition or abuses market power.
Legal basis: Section 38 of the RERA Act, 2016.
Example: The Authority imposes a penalty on a promoter for filing false data, after giving a hearing and recording its reasons.
Agent tip: Orders can be challenged, so keep every notice and reply. A clear paper trail matters if you appear before the Authority.
Related: Section 37 (RERA) Section 40 (RERA) RERA Appellate Tribunal
The section on rectifying orders. Within two years of an order, the Authority can correct a mistake apparent from the record, and must do so if the parties point it out. It cannot amend the substance of an order or an order that is under appeal.
Legal basis: Section 39 of the RERA Act, 2016.
Example: An order lists the wrong carpet area in a Mohali buyer's refund calculation. The buyer applies and the Authority corrects the clerical error.
Agent tip: Read each order closely on receipt. Raise clerical errors early rather than waiting for the appeal period to pass.
The section that sets out what a promoter must file for registration, including the sanctioned plan, project details and a declaration that 70% of the amounts realised from allottees will be kept in a separate bank account.
Legal basis: Section 4 of the RERA Act, 2016, particularly Section 4(2)(l)(D).
Example: A promoter's application includes a layout plan, a schedule of work and a bank account declaration.
Agent tip: Read the registration details on the state portal, including the promoter's declarations.
Related: Escrow Account RERA Registration Number
The section on recovery and enforcement. Unpaid interest, penalty or compensation can be recovered as arrears of land revenue, so the revenue machinery can be used against a defaulting promoter, and other non-compliance with an order is enforced in the prescribed manner.
Legal basis: Section 40 of the RERA Act, 2016.
Example: A promoter ignores an order to refund a buyer with interest, so the Authority sends a recovery certificate to the district collector, who collects it like unpaid land revenue.
Agent tip: After winning an order, follow up on the recovery process. A good order is of little use until the money actually comes in.
Related: Recovery as Arrears of Land Revenue Delay Interest Adjudication of Compensation (Section 71)
The section that provides for the Real Estate Appellate Tribunal. A promoter who wants to appeal an Authority or adjudicating officer's order must first deposit at least 30% of the penalty, or the full amount payable to the allottee, including interest and compensation.
Legal basis: Section 43 of the RERA Act, 2016.
Example: A promoter ordered to refund Rs 40 lakh to a buyer must deposit that sum with the Tribunal before the appeal is heard.
Agent tip: If you are a buyer who has won, the pre-deposit rule helps ensure money is available. Ask the Tribunal about releasing the deposit.
Related: RERA Appellate Tribunal Section 44 (RERA) Adjudicating Officer
The section on appeals to the Tribunal. Any aggrieved person, the government or a competent authority can appeal within 60 days of receiving the order, and the Tribunal can admit a late appeal for sufficient cause. It aims to dispose of appeals within 60 days.
Legal basis: Section 44 of the RERA Act, 2016.
Example: A buyer unhappy with a compensation order files an appeal on day 55 and the Tribunal admits it.
Agent tip: Note the date of receiving the order and calendar the 60-day limit. Late appeals need a reason.
Related: RERA Appellate Tribunal Section 43 (RERA) Section 58 (RERA)
The section that sets how the regulator must decide a registration application. The Authority has 30 days to grant or reject it, must give the applicant a hearing before rejecting, and must record reasons. Registration then runs for the completion period the promoter declared.
Legal basis: Section 5 of the RERA Act, 2016.
Example: A Mohali promoter files for a 120-unit project in March. The Authority finds a missing sanction and, after a hearing, asks for the document instead of rejecting outright.
Agent tip: Agents should not market a project as registered just because an application is pending. Ask for the certificate and number, and confirm the registration period covers the promised possession date.
Related: Deemed Registration Section 4 (RERA) RERA Registration Number
The section on the Tribunal's powers. It is not bound by the Civil Procedure Code or the Evidence Act but follows natural justice. It has civil court powers such as summoning witnesses, requiring documents and taking evidence on affidavit, and may decide ex parte.
Legal basis: Section 53 of the RERA Act, 2016.
Example: A promoter skips three Tribunal hearings, and the Tribunal decides the appeal in the promoter's absence.
Agent tip: Do not skip a Tribunal date. A missed hearing can mean an ex parte order.
Related: RERA Appellate Tribunal Composition of Appellate Tribunal (Sections 45-46) Section 57 (RERA)
Also called: Section 54, Section 82
An exemption from long-term capital gains when the gain from a residential house is invested in another residential house within the time allowed: one year before or two years after the sale for purchase, or three years for construction. The cost of the new asset counted is capped at ₹10 crore.
Legal basis: Section 54 of the Income-tax Act, 1961, now Section 82 of the Income-tax Act, 2025.
Example: Mr. Bedi sells his old flat and buys a new one within a year. He may claim the exemption on the capital gain invested.
Agent tip: Explain timelines and the ₹10 crore cap, and send clients to a tax adviser for details.
Related: Long-Term Capital Gains Section 54F Exemption Capital Gains Account Scheme
Also called: Agricultural Land Reinvestment Exemption
A capital gains exemption for farmers who sell agricultural land that they, or their parents, used for farming, and buy other agricultural land within the allowed time. The unused money must be placed in the Capital Gains Account Scheme before the return deadline.
Legal basis: Section 54B of the Income-tax Act, 1961; the 2025 Act carries it under a new number.
Example: Baldev sells his two acres near Banur for development and buys another farm within the permitted period, so the gain is exempt to the extent reinvested.
Agent tip: Confirm that the land qualified as a capital asset and was actually farmed. Keep proof of agricultural use.
Related: Capital Gains Account Scheme Agricultural Land Section 54F Exemption
Also called: 54EC Bonds, Capital Gain Bonds
Long-term capital gains from land or building can be exempted by investing the gain in specified bonds within six months, with a five-year lock-in. The limit is ₹50 lakh across the financial year of sale and the next financial year.
Legal basis: Section 54EC of the Income-tax Act, 1961, now Section 85 of the Income-tax Act, 2025. The list of eligible bonds is set by law and notification and can change.
Example: A seller invests ₹50 lakh of gain in eligible bonds within six months of the sale to claim the exemption.
Agent tip: Confirm the current list of eligible bonds before advising on this route.
An exemption from long-term capital gains on assets other than a residential house, such as land, when the sale proceeds are invested in a residential house. The exemption is proportionate to the amount invested, subject to conditions.
Legal basis: Section 54F of the Income-tax Act, 1961, now Section 86 of the Income-tax Act, 2025.
Example: A plot is sold and the net sale proceeds are used to buy a new flat. The gain may be exempt in proportion to the money invested.
Agent tip: The conditions on owning other houses matter. Refer the client to a chartered accountant.
The section on legal representation before the Tribunal. An applicant or appellant may appear in person or authorise a chartered accountant, company secretary, cost accountant, legal practitioner or officer to present the case.
Legal basis: Section 56 of the RERA Act, 2016.
Example: A homebuyer in Panchkula authorises her chartered accountant cousin to argue her refund appeal.
Agent tip: For complex matters involving law and money, a qualified representative saves time. Check what your state's rules allow for the Authority stage.
Related: RERA Appellate Tribunal Section 44 (RERA) Section 53 (RERA)
A tax rule under which a buyer who gets property for less than its stamp duty value is taxed on the difference above a limit, as income from other sources.
Legal basis: Section 56(2)(x) of the Income-tax Act, 1961, carried into the Income-tax Act, 2025 with a new section number.
Example: A buyer registers a flat for ₹1 crore, while the stamp duty value is ₹1.3 crore. The gap of ₹30 lakh passes the tolerance for buyers (higher of ₹50,000 or 10% of the price), so the whole ₹30 lakh can be taxed in his hands as income.
Agent tip: Explain how undervaluing a deed can create tax risk for the buyer.
Related: Stamp Duty Value Circle Rate
The section that makes Tribunal orders executable like a civil court decree. The Tribunal can execute its orders with civil court powers or send them to a civil court with local jurisdiction for execution.
Legal basis: Section 57 of the RERA Act, 2016.
Example: A Tribunal orders a promoter to hand over possession. When the promoter does not comply, the order is transmitted to the district court for execution.
Agent tip: Ask the Tribunal's registry which execution route it uses in your state and keep copies of the order handy.
Related: RERA Appellate Tribunal Section 40 (RERA) Civil Court
The section on appeals from the Tribunal to the High Court. The appeal must be filed within 60 days of communication of the decision, on grounds mentioned in the Civil Procedure Code's Section 100, and goes to the High Court of the state where the project is located.
Legal basis: Section 58 of the RERA Act, 2016.
Example: A promoter loses before the Tribunal on a Zirakpur project and files an appeal before the Punjab and Haryana High Court within 60 days.
Agent tip: High Court appeals are for questions of law. They are not a rehearing of the facts.
Related: RERA Appellate Tribunal Section 44 (RERA) Civil Court
The section that allows the authority to extend a project's registration for force majeure, without default by the promoter, by up to one year in total.
Legal basis: Section 6 of the RERA Act, 2016.
Example: A flood stops work for months. The authority extends the registration by six months.
Agent tip: The extension does not cancel the allottee's rights unless the authority also extends the date in the agreement. Read the order.
Related: Force Majeure Possession Date
The section that penalises a promoter for contravening the registration application provisions of Section 4, including giving false or incorrect information. The Authority can impose a penalty up to 5% of the estimated project cost.
Legal basis: Section 60 of the RERA Act, 2016.
Example: A promoter lists approvals he does not hold in the application. The Authority fines him a share of the estimated cost.
Agent tip: Agents should cross-check the approvals on a project's registration page against the municipal sanction.
Related: Section 4 (RERA) Section 61 (RERA) Penalty for Non-registration (Section 59)
The section that penalises a promoter who contravenes provisions of the Act other than Sections 3 and 4. The Authority can impose a penalty up to 5% of the estimated project cost, set in each case by the Authority.
Legal basis: Section 61 of the RERA Act, 2016.
Example: A promoter in Mohali takes more than the permitted advance without a registered agreement and is fined under this section.
Agent tip: Know the common promoter breaches, such as taking over 10% advance without an agreement, as they support complaints.
Related: Section 13 (RERA) Section 60 (RERA) Penalty for Non-registration (Section 59)
The section that penalises a promoter who fails to comply with the Authority's orders or directions. A penalty is charged for every day the default continues, and the total can reach up to 5% of the estimated project cost.
Legal basis: Section 63 of the RERA Act, 2016.
Example: A promoter ignores a direction to upload quarterly updates. A daily penalty builds up until the data is uploaded.
Agent tip: If a promoter is ignoring an order, ask the Authority to apply the compliance provisions and recover the penalty.
Related: Section 64 (RERA) Section 37 (RERA) Quarterly Update
The section on a promoter who fails to comply with the Appellate Tribunal's orders. It provides for imprisonment of up to three years, or a daily fine that can reach up to 10% of the estimated project cost, or both.
Legal basis: Section 64 of the RERA Act, 2016.
Example: A promoter refuses to follow a Tribunal order to refund buyers. A complaint is filed seeking prosecution.
Agent tip: This is the strongest penalty in the Act for promoters. It shows why Tribunal orders must be taken seriously.
Related: Section 63 (RERA) RERA Appellate Tribunal Section 80 (RERA)
The section that penalises a real estate agent who fails to comply with the Authority's orders or directions. A daily penalty applies while the default continues and can total up to 5% of the cost of the plot, apartment or building involved.
Legal basis: Section 65 of the RERA Act, 2016.
Example: An agent in Panchkula keeps advertising after the Authority orders him to stop. Daily penalties are imposed until he complies.
Agent tip: As an agent, treat every Authority direction as binding and reply on time. Delay is expensive.
Related: Penalty for Agents (Section 62) RERA Agent Registration Section 37 (RERA)
The section on offences by companies. When a company commits an offence, those in charge of its business at the time can be held guilty, unless they prove the offence happened without their knowledge or that they used due care. Directors can be liable if the offence was with their consent or neglect.
Legal basis: Section 69 of the RERA Act, 2016.
Example: A developer company is prosecuted, and its managing director is named as the person in charge.
Agent tip: When checking a developer company, note the directors and key persons. They can carry personal liability.
Related: Promoter Section 64 (RERA) Section 80 (RERA)
The section that lets certain offences be compounded, which means settled by paying a prescribed sum. It is meant to avoid a long prosecution for offences punishable with imprisonment, on terms the rules set. The sum cannot exceed the maximum fine for the offence.
Legal basis: Section 70 of the RERA Act, 2016.
Example: A promoter admits a minor breach and pays the prescribed amount instead of facing a prosecution.
Agent tip: Compounding ends the case against the promoter but does not cancel a buyer's separate right to refund or compensation. Check this point before agreeing to any settlement.
Related: Section 61 (RERA) Section 80 (RERA) Mediation
The section on the factors an adjudicating officer must weigh when deciding compensation or interest under Section 71. They include the unfair gain made through the default, the loss caused, whether the default was repeated, and any other factor needed to do justice.
Legal basis: Section 72 of the RERA Act, 2016.
Example: A promoter delayed possession of a Kharar flat by two years. The officer weighs the buyer's rent paid and the repeat nature of the delay.
Agent tip: Buyers should document losses, such as rent paid and receipts, because the officer looks at actual loss.
Related: Adjudication of Compensation (Section 71) Adjudicating Officer Delay Interest
The section that bars civil courts from entertaining any suit or proceeding on a matter the Authority, adjudicating officer or Tribunal can decide. It bars civil courts, not consumer commissions, as the Supreme Court has held.
Legal basis: Section 79 of the RERA Act, 2016; see also Imperia Structures Ltd v Anil Patni (Supreme Court, 2020).
Example: A buyer wants to file a civil suit for a refund, but the court says the matter belongs to the RERA Authority.
Agent tip: Pick the right forum at the start. A civil suit on a RERA matter will probably be thrown out.
Related: Civil Court RERA vs Consumer Protection Act Section 88 and 89 (RERA)
The section on what happens when registration lapses or is revoked. The Authority can consult the government on completing the remaining work, for example through the competent authority, the allottees' association or another method. On revocation, the association of allottees gets the first right of refusal to complete the work.
Legal basis: Section 8 of the RERA Act, 2016.
Example: After the registration of a stalled Kharar project is revoked, the buyers' association is offered first chance to take over and finish the unbuilt towers.
Agent tip: If a project you sold is hit by revocation, point buyers to their association early. A united association has the strongest claim under this section.
Related: Revocation of Registration Association of Allottees Escrow Account
The section on trying offences under the Act. A court lower than a Metropolitan Magistrate or Judicial Magistrate of the first class cannot try them, and the court takes cognizance only on a complaint by the Authority or an officer it authorises.
Legal basis: Section 80 of the RERA Act, 2016.
Example: The Authority files a complaint against a non-compliant promoter before the Magistrate in Mohali.
Agent tip: A buyer cannot file the criminal complaint directly. Ask the Authority to initiate prosecution.
Two closing sections. Section 88 says the Act adds to other laws and does not replace them. Section 89 gives the Act an overriding effect over inconsistent provisions in other laws. Together they explain how RERA sits beside remedies such as consumer cases.
Legal basis: Sections 88 and 89 of the RERA Act, 2016.
Example: A state housing rule sets a procedure that clashes with the central Act on a buyer's refund right, and the RERA provision prevails.
Agent tip: RERA is an additional remedy, not the only one. A lawyer can advise which forum fits your case.
Related: RERA vs Consumer Protection Act Section 79 (RERA) Section 18 (RERA)
The section that requires every real estate agent to register with the state authority before facilitating the sale or purchase of a plot, apartment or building in a registered project.
Legal basis: Section 9 of the RERA Act, 2016.
Example: A broker working in a registered Mohali project applies for registration and receives an agent number.
Agent tip: Use your registration number on all marketing. Without it you cannot act.
Related: Real Estate Agent RERA Agent Registration Section 10 (RERA)
A numbered planning unit in cities such as Chandigarh, Mohali and Panchkula, usually a self-contained residential area with its own roads, markets and parks.
Example: A plot in Sector 70, Mohali, falls under GMADA's plan for that sector.
Agent tip: Quote the sector number and the plot or house number.
Related: Tricity Plot Master Plan
Also called: Mortgage-Backed Securities
The process of bundling many loans, such as home loans, and selling the right to their repayments to investors as securities. It lets lenders free up money to lend again, and spreads the risk across investors.
Example: A housing finance company in Pune pools thousands of home loans and sells their future repayments to institutional investors.
Agent tip: Your client's loan may be sold on, but the borrower's terms and the servicing contact normally stay the same unless told otherwise.
Related: Housing Finance Company (HFC) Mortgage National Housing Bank (NHB)
A refundable amount paid by a tenant to the landlord at the start of a lease to cover damage or unpaid rent.
Legal basis: The Model Tenancy Act, 2021 caps a security deposit at two months' rent for residential and six months' for non-residential premises, where a state has adopted it.
Example: A tenant pays a three-month deposit on a flat in a state that has not adopted the Model Tenancy Act, so the cap does not apply.
Agent tip: Record the deposit and refund conditions in the agreement.
Related: Rent Agreement Lease Deed
A classification of India by earthquake risk in the Bureau of Indian Standards building code. Higher zones need stronger structural design. A new 2025 code that added a Zone VI was withdrawn in March 2026, so the 2016 map with zones II to V applies again.
Example: Many Himalayan towns and the north-east fall in the higher-risk zones. Their buildings need stronger structural design.
Agent tip: Ask about earthquake-resistant design for buildings in high-risk zones.
Also called: Swayarjit Sampatti, Self-Acquired Asset
Property that a person buys from their own income or receives by gift or will, not inherited as ancestral property. The owner may sell, gift or will it freely, and it passes under the law of succession on death.
Example: A doctor in Chandigarh buys a flat from his own savings. He can sell or leave it by will to anyone, regardless of his father's wishes.
Agent tip: For a sale, ask for the deed showing how the seller bought the property. It helps prove the property is not subject to family claims.
Related: Ancestral Property Will Title Intestate Succession
The papers an agent should ask a seller for before listing a resale property: title deed, previous chain of papers, tax receipts, electricity bill, society no-dues, approved plan, and identity proofs. It helps buyers trust the listing and speeds up the sale.
Example: An agent refuses to list a flat until the owner supplies the sale deed, society no-dues and latest tax receipt.
Agent tip: Verify originals, not photocopies, and match the owner's name to the records.
Related: Title Deed No Dues Certificate Due Diligence Legal Title Report
Also called: Twin House, Twin Villa
A house that shares one common wall with the neighbouring house while having its own entrance, plot and open space on the other sides. It sits between an independent house and a row house in price and privacy.
Example: A gated project near Mullanpur sells twin villas in pairs, each family having its own lawn and parking but a shared dividing wall.
Agent tip: Ask who bears the cost of repairs to the shared wall and how its rights are recorded in the deed.
Related: Independent House Row House Villa
Housing designed for older residents, with accessible design, medical support and community services.
Example: A senior living project offers ground-floor flats, a clinic, housekeeping and a common dining hall.
Agent tip: Check the operator's track record and the refund policy for deposits.
Related: Gated Community Amenities
A furnished apartment that comes with housekeeping, utilities and sometimes meals, rented by the day, week or month.
Example: A consultant stays for two months in a serviced apartment near the business district.
Agent tip: Serviced apartments suit short stays and corporate leases. Treat the rent differently from long-term residential leases.
Related: Studio Apartment Co-working Space
The minimum open distance that must be left between a building and the plot boundary on the front, back and sides, as set by building rules.
Example: A house built right up to the front boundary violates the setback rule and may attract demolition.
Agent tip: Advise clients to check setbacks before they buy a plot. They reduce the buildable area.
Related: Ground Coverage Plot Area Development Control Regulations (DCR)
Also called: Settlement Deed Tamil Nadu, Vyavastha Patra
A deed by which a person arranges how property will pass to family members, often within the family and without payment. Depending on the state and structure, it may be treated like a gift or a partition, with stamp duty accordingly.
Example: A father in Madurai makes a registered settlement deed giving his house to his two sons in equal shares, with a life interest for himself.
Agent tip: Check how your state treats it for stamp duty. The duty can differ greatly from that of a sale deed.
Related: Gift Deed Partition Deed Family Settlement Will
A facility that treats a building's wastewater for reuse in gardens and flushing. Larger projects are often required to have one.
Example: A 500-flat society runs an STP and uses treated water for landscaping.
Agent tip: Ask about STP capacity and operation. Poorly run plants lead to complaints.
Related: Green Building Environmental Clearance
The Sarkhej-Gandhinagar Highway in Ahmedabad, a main commercial and residential corridor with malls, offices, clubs and apartment projects. It is a standard reference when people discuss Ahmedabad's western growth.
Example: A business owner plans a showroom on SG Highway and checks the zoning and parking rules of the commercial unit.
Agent tip: Commercial units need approvals for use, parking and fire norms. Confirm these before leasing a showroom.
Related: Showroom Commercial Property GujRERA Fire NOC
A revenue sketch. Shajra Nasab is a family tree used to show legal heirs for mutation, and Shajra Kishtwar is the field map of a village showing parcels.
Example: To mutate inherited land, heirs submit a shajra nasab listing all legal heirs.
Agent tip: Ask for the family tree when title comes by inheritance, and see that every heir signs.
Related: Legal Heir Certificate Intkal Khasra Number
Village common land in Punjab and Haryana, used by the community for grazing, ponds and paths. It is vested in the panchayat and cannot be sold by private persons.
Legal basis: Punjab Village Common Lands (Regulation) Act, 1961, which Haryana also applies with its own amendments.
Example: A "plot" sold on shamlat land turns out to belong to the village panchayat.
Agent tip: Check the Jamabandi for the word shamlat. Such land cannot be sold.
A certificate issued by a co-operative housing society that records the member's number of shares and links them to a specific flat.
Example: A buyer of a resale flat in a Mumbai society receives the share certificate in his name after the society approves the transfer.
Agent tip: Ask the seller for the original share certificate and the society's transfer approval.
Related: Co-operative Housing Society No Objection Certificate (NOC)
A reinforced concrete wall designed to resist lateral forces from earthquakes and wind. It is common in high-rise buildings.
Example: A tall tower in a high seismic zone has shear walls around its lift core.
Agent tip: Never advise breaking a shear wall during renovation.
A retail unit in a mall, market or mixed-use building. Valuation depends on footfall, frontage and floor level.
Example: A 200 sq ft shop on the ground floor of a market fetches a much higher price per sq ft than a first-floor shop.
Agent tip: Quote the covered area and the frontage. Ask whether the unit is freehold or leasehold.
Related: Commercial Property Frontage Showroom
A large planned retail complex with many shops, anchor stores, a food court and often a multiplex, managed centrally by one owner or operator. Shops are either leased by the owner or sold to individual investors with management control retained.
Example: An investor buys a small kiosk in a mall in Mohali and the mall company manages leasing and common areas.
Agent tip: Check whether the shop is sold on a lease-back or assured return basis and what happens if the mall under-performs.
Related: Commercial Property Shop Assured Return CAM Charges
Also called: STCG
Gain on sale of land or a building held for 24 months or less. It is added to income and taxed at the person's slab rate.
Example: A flat sold within 18 months of purchase gives a short-term gain taxed at the owner's slab rate.
Agent tip: Warn short-term investors that the tax is higher than on long-term gains.
Related: Capital Gains Long-Term Capital Gains
Also called: Sample Flat, Model Apartment
A fully furnished sample unit in a project, built to display layout and finish. It may have upgraded fittings and furniture that are not part of the actual price, so buyers should compare it with the agreed specifications.
Example: A buyer loves the furnished sample flat, but the agent clarifies that the furniture and false ceiling are not included.
Agent tip: Ask which items in the show flat are included in the price and list them in the agreement.
Related: Specifications Site Visit Amenities
A large retail unit, typically on a main road, used by brands to display products. Frontage and parking decide its value.
Example: A car showroom in an industrial area needs a large frontage and ample parking.
Agent tip: Check permitted commercial use and parking norms.
Related: Shop Commercial Property Frontage
Also called: Single Window System
A system where a developer applies in one place for the many approvals needed for a project, instead of visiting several departments. States offer it online with timelines, though some approvals may still be handled separately.
Example: A real estate developer in Gujarat used the state portal to apply for several clearances for a township together.
Agent tip: A project said to have single window clearance does not mean every approval exists. Ask for each clearance separately.
Related: Online Building Plan Approval System (OBPS) Environmental Clearance Fire NOC
A list used at possession to record the condition of a flat or building: walls, floors, doors, fittings, services and meter readings. Signing it with noted defects creates a record that the builder must fix them.
Example: A buyer in Zirakpur listed fourteen defects on the checklist before taking keys, and the builder fixed them within a month.
Agent tip: Never sign a clean handover note while defects are visible. Write each defect down with a date and photo.
A drawing showing the position of buildings, roads and open space on a plot or project site.
Example: A site plan shows two towers, a club house and a service road inside a 5 acre project.
Agent tip: Use it to verify setbacks, orientation and green area.
Related: Layout Plan Sanctioned Plan Setback
A visit by a prospective buyer to a project or property. It is a key step before booking.
Example: An agent schedules a Saturday site visit for a family looking at 3 BHK flats.
Agent tip: Prepare the documents and RERA details before you take clients on a site visit.
Related: Lead Booking Amount
A list the agent uses before and during a visit: confirm the appointment, carry brochure and price sheet, show the sample flat, the actual site, access roads and amenities, and note the client's feedback. It makes the visit complete and professional.
Example: An agent visits a Kharar project with a checklist covering RERA number, sample flat, tower location, parking and the nearby school.
Agent tip: Show approvals and the RERA registration as part of the visit, not only the sample flat.
Related: Site Visit Show Flat Property Shortlisting
A flat horizontal concrete element that forms floors and roofs, supported by beams and columns.
Example: Pouring the 8th floor slab is a milestone in a construction-linked payment plan.
Agent tip: Learn to read stage names such as plinth, slab, brickwork and finishing in a payment schedule.
Related: Construction-Linked Plan RCC (Reinforced Cement Concrete) Beam
The Maharashtra authority that approves and monitors slum rehabilitation schemes, mainly in Mumbai.
Example: A developer submits an SRA scheme for approval.
Agent tip: Check SRA permissions for projects in redeveloped slum areas.
A Maharashtra scheme under which developers rebuild slum areas as free flats for eligible slum dwellers and sell the rest of the built area in the open market.
Example: A Mumbai developer builds 400 rehabilitation flats and sells 300 more in a free-sale building.
Agent tip: SRA projects need careful checks on approvals and slum-dweller consent.
Related: Chawl Floor Space Index (FSI)
A small and medium REIT under SEBI's 2024 framework, for pooling money to own a single income-generating property. A scheme must hold assets of at least ₹50 crore and below ₹500 crore, with a minimum investment of ₹10 lakh.
Example: An SM REIT scheme owns one leased office tower and distributes rent to unitholders.
Agent tip: Check the SEBI registration and whether the platform has migrated into the SM REIT framework.
Related: REIT (Real Estate Investment Trust) Fractional Ownership
Also called: Court of Small Causes
A court that hears limited kinds of civil cases quickly, including in some cities disputes between landlords and tenants on rent and eviction. In Mumbai, rent matters fall to this court under the rent law.
Example: A landlord in Mumbai files an eviction suit for unpaid rent in the Small Causes Court rather than the civil court.
Agent tip: For tenancy disputes, check which court or rent authority has jurisdiction in your city before filing.
Related: Rent Control Act Eviction Tenant Civil Court
A central government programme launched in 2015 to improve infrastructure and services in selected Indian cities through area-based projects and city-wide technology solutions. Its funding period was set to end in March 2025, so check what projects continue under city governments.
Example: A councillor shows residents a redeveloped market street built under the mission and explains who now runs and maintains it.
Agent tip: Being in a "smart city" does not mean a project is approved or safe. A buyer should check the building's own permissions.
Related: Master Plan Redevelopment Municipal Corporation MoHUA
A city or area chosen under the national Smart Cities Mission for improved infrastructure and technology-based services. In property talk, the term is also used loosely for new planned townships, which may not be part of the mission.
Example: A brochure calls a township near Lalru a smart city, but it is not one of the cities picked under the mission.
Agent tip: Do not repeat marketing claims. Ask whether the area is actually a mission city or just a planned township.
Inspection of a finished unit before possession to list defects such as cracks, leaks, wrong fittings and poor paint, which the builder must fix.
Example: A buyer walks through a flat with a snag list of 28 items before accepting possession.
Agent tip: Encourage buyers to snag with a checklist and record items in writing at handover.
Related: Possession Letter Defect Liability Period
Also called: SIA
A study required before land is acquired for a public project under the 2013 Act, looking at how the project affects families, livelihood and the community. The report is shared with the affected people and is reviewed by an expert group.
Example: Before acquiring land for a bypass near Karnal, the government conducts a social impact assessment and holds a public hearing in the affected villages.
Agent tip: If your land is under acquisition, take part in the hearing and file objections in writing. This is the stage for raising concerns.
Related: Land Acquisition (RFCTLARR Act, 2013) Public Purpose Rehabilitation and Resettlement (R&R) Solatium
Also called: Maintenance Charges
Regular payments by flat owners to the housing society or association for maintenance of common areas, security, lifts, water, garden and other services. Also called maintenance charges.
Example: A flat owner pays ₹4 per sq ft per month as maintenance charges.
Agent tip: Ask for the current rate and any arrears before a resale. Dues pass with the flat in practice.
Related: Corpus Fund No Dues Certificate Maintenance Agreement
A preview of a project to selected buyers or partners before the official launch, often with early pricing.
Example: A developer invites agents to a soft launch with an introductory price sheet.
Agent tip: A soft launch is not an excuse for sales before RERA registration.
Related: Pre-launch Sale Channel Partner
A Gurugram arterial road from Subhash Chowk towards Sohna, lined with group housing, builder floors and retail. It is a well-known residential micro-market of the city.
Example: A family from Faridabad compares a builder floor on Sohna Road with a high-rise flat on Golf Course Extension Road for school access.
Agent tip: Sohna Road has a mix of licensed and older colonies. Ask for the licence number and check the sector or colony record.
Related: Gurugram Builder Floor Micro-market DTCP
Also called: Soil Test Report, Geotechnical Report
A report based on boring and testing the ground at a site to learn soil layers, water table and bearing capacity. The structural engineer uses it to choose the type and depth of foundation.
Example: Before designing a basement for a Kharar project, the consultant bored several holes and found a high water table.
Agent tip: For a plot where you plan to build, spend on a soil test first. It may change the cost of foundations significantly.
Related: Foundation Pile Foundation Raft Foundation
Also called: Land Acquisition Solatium
An extra amount paid to a landowner on top of the market value in land acquisition, to offset the compulsory nature of the taking. Under the 2013 Act, it is fixed as a share of the compensation, and the figure is set out in the Act.
Legal basis: Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013.
Example: A farmer near Rajpura is paid market value for 2 acres taken for a highway, with solatium added by the collector's award.
Agent tip: Check an award for market value, solatium and interest. Errors can be taken up before the authority within time.
Related: Land Acquisition (RFCTLARR Act, 2013) Rehabilitation and Resettlement (R&R) Public Purpose Market Value
Flaking or chipping of the concrete cover, often exposing rusted reinforcement bars. It is usually caused by steel corrosion expanding inside the concrete after water or salt reaches it, and is common in older buildings and balconies.
Example: A 30-year-old building in Panchkula showed pieces of balcony slab falling away, with rusted bars visible underneath.
Agent tip: In older resale buildings, check balcony undersides and ceilings for rust stains. Spalling means repair costs for the society.
Related: Structural Stability Certificate Redevelopment RCC (Reinforced Cement Concrete)
A designated duty-free enclave treated as foreign territory for trade, set up to promote exports with tax and duty benefits to units operating inside. Units and developers need approval under the SEZ law. Space is leased or allotted to approved units.
Legal basis: Special Economic Zones Act, 2005.
Example: A software company takes 20,000 sq ft in an SEZ tower in Hyderabad to serve overseas clients under export-linked benefits.
Agent tip: Check whether the unit is an approved SEZ unit and whether the benefits the tenant expects are still valid.
Related: IT Park Business Park Industrial Plot
A POA that gives authority for a particular act or transaction, such as signing a sale deed or appearing in the Sub-Registrar's office.
Example: An NRI signs an SPA for one purpose only: to sell a specific flat on agreed terms.
Agent tip: Prefer an SPA over a GPA. Check that it names the property, the price range and the powers given.
Related: Power of Attorney (POA) General Power of Attorney (GPA) NRI (Non-Resident Indian)
A court order requiring a party to carry out a contract, such as completing the sale of a property. After the 2018 amendment, specific performance is a general right and not a matter of the court's discretion.
Legal basis: Specific Relief Act, 1963, as amended in 2018.
Example: A seller refuses to sign the sale deed after taking an advance. The buyer sues for specific performance.
Agent tip: A buyer must be ready and willing to perform his part. Keep records of payments.
Related: Agreement to Sell (ATS) Limitation Period
Also called: Specific Relief Act, SRA 1963
The law under which a court can order a person to carry out a contract, stop a wrongful act, or declare a right. After the 2018 amendment, specific performance became the usual remedy for a valid contract, and not merely an exception.
Legal basis: Specific Relief Act, 1963, as amended in 2018.
Example: A builder in Hyderabad refuses to hand over a flat after taking most of the price. The buyer seeks an order to enforce the agreement under this Act.
Agent tip: In a dispute, ask the lawyer whether the buyer can seek performance and not only a refund. The two remedies lead to very different outcomes.
Related: Specific Performance Injunction Declaratory Suit Indian Contract Act, 1872
The written description of materials, fittings and finishes promised in a unit, such as flooring type, kitchen fittings and electrical points.
Example: The agreement lists vitrified tiles, branded sanitaryware and modular switches.
Agent tip: Make sure specifications appear in the agreement for sale, not only in the brochure.
Related: Agreement for Sale Snagging
A bonus a developer offers to agents for sales made during a short period, such as a launch weekend or festival. It is paid on top of normal commission and has its own conditions on booking amount and timing.
Example: A developer offers agents an extra ₹25,000 for each booking made during a three-day festive launch.
Agent tip: Never push a buyer to book in haste to earn a spot incentive. Mis-selling can cost you your registration.
Related: Commission Slab Mis-selling Soft Launch
The most common unit for quoting built-up and carpet areas in India. One square metre equals about 10.764 sq ft.
Example: A flat priced at ₹6,500 per sq ft with 1,000 sq ft carpet area costs ₹65 lakh before other charges.
Agent tip: Always state which area (carpet, built-up or super) the rate per sq ft refers to.
Related: Square Metre Carpet Area Super Built-Up Area
The metric unit of area used in building codes, RERA project thresholds and government records. One sq m equals about 10.764 sq ft.
Legal basis: Under Section 3 of the RERA Act, registration is needed if the land exceeds 500 sq m or the project has more than eight apartments.
Example: A plotted project on 600 sq m of land crosses the 500 sq m threshold, so it must be registered under RERA.
Agent tip: Know the 500 sq m and eight-apartment thresholds. Either one is enough to require registration.
Related: Square Foot Hectare Real Estate Project
A state tax on property documents, paid when a sale deed, gift deed, lease or similar instrument is executed. The rate depends on the state, the type of property and sometimes the buyer's gender, age or relation to the seller.
Legal basis: The Indian Stamp Act, 1899 or the state's own stamp Act, such as the Maharashtra Stamp Act, 1958. Rates are set by state governments.
Example: A buyer of a ₹60 lakh flat in a state with 6% stamp duty pays ₹3.6 lakh as stamp duty, plus the registration fee.
Agent tip: Give clients the current stamp duty slab for the state, and tell them to check concessions for women or for first-time buyers.
Related: Registration Fee Circle Rate e-Stamping Stamp Duty Value
Also called: Women's Stamp Duty Rebate
A reduction in stamp duty that some states give when a property is registered in the name of a woman, either alone or jointly. The amount of concession and the conditions differ by state and can change.
Example: Because the flat is registered in the name of the wife, the family in a state with a concession pays a lower stamp duty than it would if the husband alone were the buyer.
Agent tip: Check the current rule of the state before advising on whose name the property should be in, and do not choose a name only for the saving.
Related: Stamp Duty Joint Ownership Registration Fee
Also called: Section 80C Stamp Duty Benefit
A deduction under the old tax regime for stamp duty, registration fee and transfer costs paid in buying a residential property, claimed in the year of payment. It forms part of the overall Section 80C limit shared with other savings.
Legal basis: Section 80C of the Income-tax Act, 1961; available only if the old regime is chosen, and renumbered in the 2025 Act.
Example: Trisha pays ₹3 lakh in stamp duty and registration in the year of purchase, and claims up to the Section 80C limit under the old regime.
Agent tip: Compare the old and new regimes before claiming. The new regime does not allow this deduction.
Related: Home Loan Principal Deduction Stamp Duty Registration Fee
Also called: Refund of Stamp Duty
Money returned by the state when stamp paper is not used or a document is cancelled within the time and under the conditions fixed by the state. A refund is not automatic and is often subject to a deduction.
Example: Neeraj buys stamp paper for a sale deed, but the deal falls through. He applies to the stamp authority within the allowed time to get the money back.
Agent tip: Check the deadline in the state's rules. Refunds are usually denied if the claim is late.
Related: Stamp Duty e-Stamping Cancellation Deed
The value adopted by the stamp authority for charging duty on a transfer. It is the circle rate value or the sale price, depending on the state's law. For income tax, it is the value compared with the actual price.
Legal basis: Section 50C (now Section 78 of the Income-tax Act, 2025) for sellers and Section 56(2)(x) for buyers.
Example: A plot is sold for ₹1 crore, but the stamp duty value is ₹1.3 crore. If the gap passes the allowed tolerance, the whole difference can be taxed, not just the excess.
Agent tip: Tell clients that a price below the stamp duty value can create tax for both buyer and seller.
Related: Circle Rate Capital Gains Stamp Duty
Government-issued paper bearing pre-paid stamp duty, on which legal documents were traditionally executed. Many states now use e-stamping.
Example: A buyer pays stamp duty online and receives an e-stamp certificate instead of buying physical stamp paper.
Agent tip: Check the e-stamp certificate on the issuer's website to confirm it is genuine.
Related: e-Stamping Stamp Duty Franking
A flat 30% deduction from the net annual value of a rented property, allowed for repairs and other costs without proof.
Example: With net annual value of ₹2 lakh, the owner deducts ₹60,000 as standard deduction.
Agent tip: Tell landlords this is automatic and not tied to actual repair bills.
Related: Income from House Property Home Loan Interest Deduction
The state-level consumer forum. Under the 2021 rules it hears complaints where the consideration paid is above Rs 50 lakh and up to Rs 2 crore, and appeals from district commissions. Larger disputes go to the national commission.
Legal basis: Consumer Protection Act, 2019; Consumer Protection (Jurisdiction of the District Commission, the State Commission and the National Commission) Rules, 2021.
Example: A buyer of a Rs 1.2 crore villa files at the state commission after paying in full.
Agent tip: The forum depends on the amount paid, not the current market value. Check current limits.
Related: District Consumer Disputes Redressal Commission Consumer Commission NCDRC
The state body that grants environmental clearance for projects above the thresholds in the national notification, such as larger building and construction projects. Smaller projects may fall under a lower authority, and the thresholds change with notifications.
Example: A builder in Panchkula planning a very large complex applies to the SEIAA before starting construction.
Agent tip: Ask for the environmental clearance of large projects and verify the number on the board's site.
Related: Environmental Clearance Central Pollution Control Board (CPCB) Commencement Certificate
The state department that inspects buildings for fire safety and issues the fire no-objection certificate. Tall and public-use buildings are checked on fire exits, hydrants and sprinklers, and fire clearance is typically needed for approvals.
Example: A Zirakpur commercial complex gets its occupancy certificate only after the fire department confirms its systems are in place.
Agent tip: Ask for the fire NOC of commercial buildings. A missing or expired NOC is a safety and legal risk.
Related: Fire NOC Occupancy Certificate (OC) Completion Certificate (CC)
A state government body that builds and sells housing, often for middle and lower-income groups, and sometimes develops land. Names and powers differ by state, and old board schemes may have special rules for allotment and resale.
Example: A buyer of a resale flat in a board colony checks whether the board has to give permission for transfer.
Agent tip: For board properties, ask the board for the allotment letter and transfer rules. Fees and conditions can apply.
Related: MHADA Chandigarh Housing Board (CHB) Development Authority
The state body that gives consent to establish and consent to operate for projects and industries that can pollute. Large housing and industrial projects often need its consent besides other clearances.
Example: A factory plot buyer in Lalru confirms that the unit type is allowed and that consent to operate can be obtained.
Agent tip: Industrial plot buyers should check what pollution consent the intended activity needs. A plot's zoning does not guarantee it.
Related: Central Pollution Control Board (CPCB) Environmental Clearance Industrial Plot
Also called: Status Quo, Stay Order
A court order directing the parties to keep things as they stand, without selling, building, changing possession or altering the property. It protects the position until the court decides the main dispute.
Example: While two brothers fight over a Jalandhar house, the court passes a status quo order, so neither can sell or rent it.
Agent tip: If a status quo order exists, no buyer should go ahead. Ask for a copy of the order and check its current status.
Related: Injunction Lis Pendens Civil Court Litigation Check
Also called: Protected Tenant, Controlled Tenant
A tenant whose lease has ended but who stays on and is protected from eviction by rent control law, which allows removal only on specific grounds. Such tenants often pay old, low rent, and the tenancy may pass to heirs in some states.
Example: A tenant in an old Kolkata building pays a small rent decades after the lease ended and is protected by the state's rent law.
Agent tip: Before buying a tenanted property, find out whether the tenant is protected. Vacant possession may be impossible.
Related: Tenant Rent Control Act Eviction Pagdi System
Also called: Step-Up EMI, Flexi EMI
A repayment plan in which the EMI starts low and rises at set intervals, matching the expectation that the borrower's income will grow. Early years cost less, but the loan takes longer to shrink and total interest is higher.
Example: Anjali, a young chartered accountant in Mohali, starts with a smaller EMI and increases it every year in line with her expected salary growth.
Agent tip: Compare the total interest against a plain EMI loan. A step-up plan only helps if income really grows as planned.
The ground floor of a building left open or used for parking, with columns supporting the floors above. It is common in north Indian cities.
Example: A builder floor has a stilt level for parking and four residential floors above.
Agent tip: Check whether stilt parking is sold or free, and whether it counts as a floor.
An order from the authority directing that construction must halt, usually for building without sanction, deviating from the plan or breaching safety or environment rules. Continuing after such a notice can lead to sealing or demolition.
Example: A Zirakpur owner who added a floor beyond his sanction received a notice and had to stop work.
Agent tip: If a notice is displayed on a site, find out the reason and whether it was withdrawn before booking.
Related: Unauthorized Construction Compounding Regularisation
A buyer can report any structural defect or defect in workmanship, quality or services within five years of taking possession. The promoter must fix it within 30 days without charge, or pay compensation as provided under the Act.
Legal basis: Section 14(3) of the RERA Act, 2016.
Example: Seepage appears on a flat's wall two years after possession in Mohali. The buyer reports it in writing and the promoter must repair it within 30 days.
Agent tip: Report defects in writing with photographs and keep the date. Do it inside the five-year window.
A certificate from a licensed structural engineer confirming that a building is structurally safe. It is needed for approvals, occupancy and old buildings.
Example: A society asks for a structural audit and certificate for a 35-year-old building.
Agent tip: For old buildings ask for a recent structural audit before you advise a purchase.
Related: Occupancy Certificate (OC) RCC (Reinforced Cement Concrete) Redevelopment
Purpose-built accommodation near campuses, rented by the bed or room and managed by an operator.
Example: An operator leases a building near a university and rents it by the bed.
Agent tip: Investors treat it as a niche rental asset. Check occupancy and the operator's contract.
Related: Rental Yield Serviced Apartment
A compact unit with one combined living, sleeping and cooking space and a separate bathroom. It is popular with students, singles and investors.
Example: A 380 sq ft studio near a university campus rents for a premium per sq ft compared with larger flats.
Agent tip: Pitch studios to investors who want rental yield and tenants who want a lower budget.
Related: BHK Serviced Apartment Rental Yield
An agent who works under a larger broker or channel partner, usually sharing commission.
Example: A freelancer brings leads to a channel partner and receives half the commission.
Agent tip: Sub-brokers should also register if they facilitate sales in RERA projects.
Related: Channel Partner Real Estate Agent
A deed by which a lessee gives a part or all of the leased premises to another person for a period within the lease term. The first lessee remains liable to the owner, and the lease terms may limit or forbid subletting.
Example: A tenant of a floor in Gurugram signs a sub-lease deed with a start-up for half the space. The head lease requires the owner's written consent for this.
Agent tip: Check the head lease for a clause on subletting. A sub-lease without the owner's consent can end the main lease.
Related: Lease Deed Lessee Subletting Landlord
Also called: Sub-tenancy, Sublease
A tenant letting out part or all of rented premises to another person, which may be barred by the lease or by rent control law. Unauthorised subletting is often a ground for eviction.
Example: A tenant in Jaipur rents his rented flat to students without telling the owner. The landlord uses this as a ground for eviction.
Agent tip: Landlords should write a clear subletting clause and check who actually lives in the premises. Tenants should get consent in writing.
Related: Tenant Sub-Lease Deed Eviction Rent Control Act
The government official in charge of registering documents in a sub-district. The property must be registered in the office whose area covers it.
Example: A flat in Mohali is registered in the Sub-Registrar's office of that tehsil.
Agent tip: Confirm the correct jurisdiction before you fix an appointment.
Related: Registration (Property) Tehsil
A scheme in which the developer pays the pre-EMI interest on the buyer's loan until possession, usually in return for a higher price or a bank tie-up.
Example: A developer pays the bank interest until possession, so the buyer pays only after handover.
Agent tip: Subvention schemes carry risk if the developer stops paying. Read the tripartite agreement.
Related: Home Loan EMI (Equated Monthly Instalment) Assured Return
A court certificate under the Indian Succession Act, 1925 that entitles the holder to collect the debts and securities of a deceased person. It does not decide title to property. It is different from a legal heir certificate.
Example: A family needs a succession certificate to claim the bank deposits of a relative who died without a will.
Agent tip: For property, buyers often ask for a legal heir certificate and a family settlement. Ask a lawyer which document the situation needs.
Related: Legal Heir Certificate Probate
Also called: Super Area, Saleable Area, Chargeable Area
Built-up area plus the buyer's proportionate share of common areas such as the lobby, staircases, lifts, club house and corridors. It is also called saleable area or chargeable area, and the loading factor links it to carpet area.
Legal basis: Not a RERA unit of sale. RERA requires the price to be quoted on carpet area.
Example: In a tower with a 35% loading, a 1,000 sq ft carpet area flat is marketed as roughly 1,350 sq ft super area.
Agent tip: Never compare two projects by super-area price alone. Convert both to a rate per sq ft of carpet area first.
Related: Carpet Area Loading Factor Common Area Built-Up Area
A deed that adds to or modifies an earlier deed, for example to include a missed boundary or reflect an agreed change. It should be stamped and registered where needed.
Example: Parties add the missed parking slot to a registered sale deed through a supplementary deed.
Agent tip: Use it to fix omissions. Ask a lawyer to decide if it needs full stamp duty.
Related: Rectification Deed Sale Deed
A Gujarat city known for diamond cutting and polishing and textile trade, with a fast-growing built-up area, a new metro under way and a diamond bourse. Its markets include both apartments and commercial space linked to trade.
Example: A textile trader buys a shop near the market and an apartment on the Vesu side for his family.
Agent tip: Check the SUDA town-planning scheme rules, since final plots in Gujarat's town planning schemes differ from original plots.
Related: GujRERA Commercial Property Shop Layout Plan
A number given to a land parcel by the survey or revenue department to identify it in records and maps. Different states use names such as khasra, gata, hissa or survey number.
Example: A deed describes land as "Survey No. 45/2, Village Hinjewadi" in Maharashtra, while in Punjab the same job is done by the khasra number. That number links the deed to the village map.
Agent tip: Check that the survey number in the sale deed, revenue record and approved layout are the same.
Related: Khasra Number Gata Number CTS Number
The national mapping agency under the Department of Science and Technology. It produces topographic maps and geospatial data, and is relevant to boundary and map disputes, and for approvals that need official maps.
Example: A developer buys a large tract near Chandigarh and uses official topographic maps to check river and drain lines.
Agent tip: Official maps help to verify natural features. They do not replace the revenue record or a licensed surveyor's demarcation.
Related: Demarcation Survey Number Shajra
A central scheme that uses drones to map village inhabited areas and gives rural property owners legal ownership cards. It helps to settle abadi land disputes and enables loans.
Example: A village resident receives a property card under SVAMITVA for a house in the abadi area.
Agent tip: Know that rural abadi owners can now get formal records.
Related: Abadi Deh DILRMP Property Card
A government-backed fund that finances stalled affordable and mid-income housing projects so they can be completed and delivered to buyers. It was announced in 2019 and extended in 2025 with a second fund.
Example: A stalled Ghaziabad project receives funds from the scheme to complete flats for waiting buyers.
Agent tip: A project in the scheme is not a guarantee of delivery. Check completion status on the RERA portal.
Also called: Constructive Possession
A legal step where possession is deemed to pass without actual occupation, such as by a notice, affixing a notice, or an order, often in loan recovery or court matters. The person may still need further steps to physically take over.
Example: A bank takes symbolic possession of a defaulted flat by posting a notice on the door.
Agent tip: When buying an auction property, ask whether physical possession is available or still to be obtained.
Related: Bank Auction Property SARFAESI Act Possession
A village-level revenue official in Maharashtra and Gujarat (spelled Talati in Gujarat) who maintains village land records and collects revenue. Maharashtra has begun calling the post Gram Mahsul Adhikari.
Example: For a mutation in Maharashtra, the talathi enters the change in the record.
Agent tip: Know the talathi's role if your buyer asks who updates the 7/12.
Related: Satbara Utara (7/12) Ferfar Tehsildar
Also called: Gift of Property Tax
Property received from specified close relatives is not taxed in the receiver's hands. When the receiver later sells it, capital gains are worked out using the original owner's cost and counting the original owner's holding period.
Legal basis: Section 56(2)(x) provides the exemption for relatives, and Sections 49 and 2(42A) of the 1961 Act deal with cost and holding period. The 2025 Act renumbers them.
Example: Shobha receives a flat as a gift from her father. When she sells it, her cost is her father's cost and the holding period includes his.
Agent tip: A gift deed needs proper stamping and registration. Keep the donor's purchase records for the future capital gains calculation.
Related: Gift Deed Section 56(2)(x) Difference Tax Cost of Acquisition
Also called: Inheritance Tax, Estate Duty
India has no inheritance tax. Receiving property by will or succession is not taxed, but a later sale is. The heir uses the previous owner's cost and holding period to compute capital gains.
Example: After her father's death, Usha inherits a Panchkula house under his will and pays no tax on receiving it, only on any gain when she sells.
Agent tip: Collect the previous owner's purchase papers early. They are needed for the cost of acquisition.
Related: Will Succession Certificate Capital Gains
Tax deducted at source by a payer, such as a developer, when paying commission to an agent above the limit set in the income tax rules. The agent claims credit for it while filing the return. Rates and limits can change, so check the current rules.
Example: A developer pays an agent ₹95,000 after deducting TDS and gives a TDS certificate later.
Agent tip: Ask for your TDS certificate and check it against your tax statement so that credit is not lost.
Related: Brokerage Commission Invoice Channel Partner
Also called: Section 194-IA, 194IA TDS
A tax deducted by the buyer at 1% when buying immovable property (other than rural agricultural land) if the consideration or the stamp duty value is ₹50 lakh or more. The buyer pays it to the government and gives the seller a certificate. PAN of both parties is required.
Legal basis: Section 194-IA of the Income-tax Act, 1961. The Income-tax Act, 2025 (in force from 1 April 2026) carries the rule into its consolidated TDS provisions, so check the current section and form.
Example: A buyer pays ₹80 lakh for a flat. He deducts 1%, or ₹80,000, from the seller's payment and deposits it with the tax department.
Agent tip: Remind buyers to deduct and pay the TDS within the time limit. Late payment attracts interest and fees.
Related: Stamp Duty Value Capital Gains
Also called: Section 194-IB
Tax deducted by an individual or HUF tenant who pays rent above ₹50,000 per month. The rate is 2% from 1 October 2024.
Legal basis: Section 194-IB of the Income-tax Act, 1961, carried into the consolidated TDS provisions of the Income-tax Act, 2025.
Example: A tenant paying ₹70,000 a month deducts 2% on the rent.
Agent tip: Remind tenants and landlords of the TDS rule when they agree on rent.
Related: Rent Agreement Income from House Property
A buyer purchasing property from a non-resident Indian must deduct tax on the seller's gain at the rates applicable to non-residents. The rate depends on the type of gain and the holding period, and the buyer follows a separate process from the 1% TDS.
Legal basis: Section 195 of the Income-tax Act, 1961. Rates and procedures change, so check the current rules.
Example: A buyer in Chandigarh buys a flat from an NRI who is moving abroad and must deduct tax at the non-resident rate.
Agent tip: This area is easy to get wrong. Tell clients to take a chartered accountant's help before payment.
Related: NRI (Non-Resident Indian) Capital Gains
An administrative sub-division of a district. Land records such as Jamabandi, Fard and Intkal are maintained at tehsil level.
Example: A Mohali buyer visits the tehsil office to check that an intkal was sanctioned.
Agent tip: Learn which tehsil covers the property, because the revenue office depends on the village.
Related: Tehsildar Jamabandi Sub-Registrar
The chief revenue officer of a tehsil. The tehsildar attests mutations, issues certificates and manages land records at tehsil level.
Example: A tehsildar signs the mutation order after the objection period ends.
Agent tip: For revenue certificates and disputes about records, the tehsil is the first office.
Related: Tehsil Patwari Sub-Registrar
Also called: Month-to-Month Tenancy
A tenancy with no fixed term that either side can end, usually by notice. It often arises where a tenant stays after a lease ends or with the owner's consent but without any agreed period.
Example: A tenant in Ludhiana continues in a shop after his lease expired, paying rent monthly. The landlord can end the arrangement by giving notice.
Agent tip: Do not leave a tenancy undefined. Put the term and notice period in writing, and renew the lease on time.
Related: Tenant Landlord Notice to Quit Rent Agreement
A person who occupies property under a lease or rental agreement and pays rent. Rights depend on the agreement and the state's rent law.
Example: A tenant pays rent monthly and must vacate when the agreed period ends.
Agent tip: Tenant rights vary by state. Check the rent law.
Related: Landlord Rent Agreement Rent Control Act
The period over which a loan is repaid. Longer tenure lowers the EMI but increases total interest.
Example: Choosing 25 years instead of 15 cuts the EMI but adds lakhs in interest.
Agent tip: Suggest that buyers prepay when they have spare cash.
The Chairperson and Members of the Authority serve up to five years or until age 65, whichever is earlier, and cannot be re-appointed. The government can remove them for reasons such as insolvency, conviction involving moral turpitude, incapacity, acquiring a financial or other interest that affects their functions, or abuse of position. A High Court judge's inquiry is needed for the last two grounds.
Legal basis: Sections 23 and 26 of the RERA Act, 2016.
Example: A Member reaches age 65 in the fourth year of a term, so the seat falls vacant and the state must fill it within the time the Act allows.
Agent tip: Vacancies can slow hearings. If a hearing date keeps slipping, check whether the Authority has a full bench.
Related: Composition of RERA Authority (Sections 20-22) RERA Authority Section 34 (RERA)
The open roof area of a flat or building. A terrace attached to a top-floor flat for exclusive use is excluded from carpet area. A common terrace belongs to all owners.
Example: A penthouse buyer pays extra for an exclusive 400 sq ft terrace, which is shown separately from carpet area.
Agent tip: Clarify in writing whether the terrace is exclusive or common before the booking amount is paid.
Related: Penthouse Carpet Area Common Area
The Telangana Real Estate Regulatory Authority, which covers Hyderabad and the rest of Telangana. It was earlier written TSRERA when the state abbreviation was TS.
Example: A Hyderabad buyer checks a project on the Telangana RERA portal.
Agent tip: You may see both TSRERA and TGRERA in older and newer documents.
Related: RERA Authority HMDA
Also called: Thandaper Account, Thandaper Register
A Kerala village record that lists a landholder's holdings, with survey numbers and area, and is linked to the land tax roll. It sits at the village office and is used with the basic tax register when title or area is checked.
Example: In Kottayam, a buyer asks for the thandaper entry and finds that the seller holds the land only in one of two survey numbers mentioned in the sale agreement.
Agent tip: Match the thandaper and the tax receipt against the deed. In Kerala, ask also for the possession and location certificates.
Related: Revenue Record Survey Number Possession Certificate Mutation
A city in the Mumbai Metropolitan Region north-east of Mumbai, with many high-rise residential projects along Ghodbunder Road, Majiwada and Kolshet and redevelopment of older societies in the main town.
Example: An engineer commuting to Airoli prefers a Thane flat near the station over a cheaper one farther inside.
Agent tip: Check whether the project is on a sanctioned plan under the municipal corporation and has a MahaRERA number. Thane also has many older societies in redevelopment.
Related: MMR (Mumbai Metropolitan Region) MahaRERA Redevelopment Municipal Corporation
Also called: Time-Linked Plan
A payment plan in which instalments fall due on fixed dates or months after booking, whatever the stage of construction. The buyer must pay on time even if the building is behind schedule.
Example: Under a time-linked plan, Dinesh must pay an instalment every six months from booking, whether the builder has reached the next floor or not.
Agent tip: Buyers should avoid this plan when the builder has a record of delay. Prefer a plan tied to construction stages.
Related: Construction-Linked Plan Payment Plan Delay Interest
Legal ownership of a property and the right to deal with it. A clear title is free of defects and disputes, and a marketable title is one that a reasonable buyer would accept without fear of a claim.
Example: A seller shows a registered sale deed, but a cousin claims a share in the ancestral land. The title is not clear until the claim is resolved.
Agent tip: Insist on a title search before booking. Title is the root of every property deal.
Related: Title Deed Link Documents Legal Title Report
Also called: Ownership Document
The document that establishes ownership of a property, such as a registered sale deed, gift deed, partition deed or will. A chain of such documents shows the history of ownership.
Example: A buyer checks that every transfer in the last 30 years is documented by a title deed.
Agent tip: Ask for the full chain of title, not only the latest document.
Related: Link Documents Sale Deed Title
Insurance that protects against loss from a defect in title. The RERA Act provides for title insurance for projects, but it is little used by individual buyers in India.
Legal basis: Section 16 of the RERA Act, 2016.
Example: A buyer takes title insurance on a high-value plot as extra protection.
Agent tip: Do not treat insurance as a substitute for a title search.
Related: Section 16 (RERA) Title
Also called: Title Verification, Search Report
An inquiry into the history of a property, going through registers at the sub-registrar office, revenue records and court records to see who owned it and whether there are loans or disputes. A lawyer usually summarises the result in a title report.
Example: Before buying a house in Mohali, Rohan has a lawyer search the registrar's index for 30 years and the court records for pending cases.
Agent tip: Order a title search before the booking amount goes beyond a small token. It costs little compared to a lost property.
Related: Legal Title Report Link Documents Litigation Check Encumbrance Certificate (EC)
Also called: Thermo-Mechanically Treated Bar, Saria
A thermo-mechanically treated steel bar with ribs, used as the reinforcement inside concrete. It has a hard outer layer and a softer core, so it is strong yet bends without snapping. Bars come in standard grades and diameters.
Example: A site engineer in Panchkula rejected a truck of bars because the mill test certificate did not match the stamp rolled onto the bars.
Agent tip: Buyers cannot test steel, but you can ask whether mill certificates and third-party tests are maintained for each lot.
Related: RCC (Reinforced Cement Concrete) Column Beam
The Tamil Nadu Real Estate Regulatory Authority, the regulator for Chennai, Coimbatore and the rest of Tamil Nadu.
Example: A Chennai buyer verifies a project on the TNRERA portal.
Agent tip: Tamil Nadu terms such as patta and ground are part of everyday deals.
Related: RERA Authority Patta Ground (Tamil Nadu)
A small payment made to block a unit for a short time before a formal booking. It is usually refundable if the deal does not proceed, if agreed in writing.
Example: A buyer pays ₹51,000 as a token to hold a flat for a week.
Agent tip: Take a written receipt that states whether the token is refundable.
Related: Booking Amount Earnest Money
A survey that records the shape of land: slopes, levels, trees, roads, water bodies and existing structures. Designers use it to plan roads, drainage and building positions, and it is often needed for layout approval.
Example: A developer in Kharar commissioned a topographical survey of a plot to plan stormwater drains before submitting the layout.
Agent tip: Ask for the survey drawing before buying a large plot. Low-lying areas drain poorly and can raise development cost.
Related: Contour Line Layout Plan Demarcation
An extra loan from the same lender on top of an existing home loan, for personal or home improvement use.
Example: A borrower takes a ₹5 lakh top-up for renovation.
Agent tip: Top-up loans have different rates and tax treatment from the main loan.
Related: Home Loan Loan Against Property (LAP)
Also called: ETS Survey
A survey using an electronic instrument that measures angles and distances very precisely to map points on land. Results go straight to a computer to draw plans, and it is common for large plots, roads and layouts.
Example: The surveyor used a total station to mark the corner points of a 20-acre layout near Rajpura.
Agent tip: Ask for coordinates of corner points in your survey report. They make later disputes easier to resolve.
The Centre's technical body for urban and regional planning, under the housing ministry. It advises on planning policy and model laws, while approvals of individual layouts remain with the state departments.
Example: A state refers to TCPO guidelines while preparing a new master plan for an expanding town.
Agent tip: TCPO guidance is advice. For approvals, go to the state town planning department or local authority.
Related: MoHUA DTCP Master Plan
A large planned development with housing, retail, schools, hospitals and open spaces under a single master plan. State policies set minimum area and approvals.
Example: A 120 acre integrated township contains plots, apartments, a school and a market.
Agent tip: Check the phase-wise RERA registrations. Each phase usually has its own number and timeline.
Related: Mixed-Use Development Master Plan Real Estate Project
The central law on how immovable property is transferred in India through sale, mortgage, lease, exchange and gift.
Example: Section 54 defines a sale and requires a registered deed for property worth ₹100 or more.
Agent tip: Know the key sections: 52 (lis pendens), 53A (part performance), 54 (sale), 58 (mortgage), 105 (lease), 122 (gift).
Related: Sale Deed Mortgage Lease Deed
A right that allows a landowner to use or sell the unused building potential of land, usually given as compensation for giving land for roads or public use. It lets a developer build more on another plot.
Example: An owner who surrenders land for a road receives TDR certificates, which a developer buys to add floors elsewhere.
Agent tip: Check that TDR used in a project is documented and within the authority's cap.
Related: Floor Space Index (FSI) Master Plan
Also called: TOD
A planning approach that allows denser, mixed-use buildings near metro, rail or bus corridors to encourage public transport use. Authorities may give extra FAR or lower parking requirements within a set distance of stations.
Example: A developer in Noida planned a high-rise near a metro station using the extra FAR the TOD policy allowed.
Agent tip: TOD benefits are policy specific and may change. Confirm the current notification and station distance.
Related: Floor Area Ratio (FAR) Master Plan Mixed-Use Development
Permission from the forest or horticulture department or municipality to cut or transplant trees on a plot. Many states require it and may demand compensatory planting. Cutting trees without it can attract penalties.
Example: A builder in Chandigarh had to get permission and plant replacement saplings before clearing a few trees on his site.
Agent tip: Ask whether the site had trees and whether permission was obtained. Missing it can stall a project.
Related: Environmental Clearance Green Belt Commencement Certificate
The Tripura Real Estate Regulatory Authority, which regulates projects and agents in Tripura.
Example: A buyer in Agartala checks the project on the Tripura RERA portal.
Agent tip: Check the official portal for current forms and fees.
Related: RERA Authority
Also called: Adivasi Land Transfer, Fifth Schedule Land, CNT Act Land
Laws in several states that bar or limit the sale of land held by Scheduled Tribe members to non-tribals, to protect tribal ownership. A sale without the required permission can be void and the land may be restored.
Example: A buyer in Jharkhand finds the seller belongs to a notified tribe, and the land is under the state's tenancy law. The deed is void without the deputy commissioner's permission.
Agent tip: When the seller or the village falls under a tribal law, ask a local lawyer before paying. These transfers are examined closely.
Related: Agricultural Land Land Reforms Revenue Record Title
The urban area made up of Chandigarh (a Union Territory), Mohali (Punjab) and Panchkula (Haryana), together with fringe towns such as Zirakpur and Kharar. Each part has different authorities and rules.
Example: A buyer comparing flats in Panchkula and Mohali is dealing with two states, two RERA authorities and different stamp duty.
Agent tip: Always state the state and authority when you quote a Tricity property.
Related: Mohali (SAS Nagar) Panchkula Zirakpur Chandigarh Housing Board (CHB)
An agreement among the buyer, the builder and the bank for loans on under-construction property. It sets how the bank pays the builder and what happens on default or cancellation.
Example: In a subvention scheme the tripartite agreement lets the builder pay pre-EMI to the bank.
Agent tip: Read the clauses on cancellation and refund before the buyer signs.
Related: Home Loan Subvention Scheme Disbursement
Also called: Declaration of Trust, Deed of Trust
A document that creates a trust, naming who gives the property, who manages it as trustee, who benefits and what the rules are. Property can be held in a trust for family, charity or a project, and land in a trust is dealt with by the trustees.
Example: A temple trust in Nashik owns a hall and wants to sell part of it. The trust deed shows the trustees can sell only with the charity commissioner's approval.
Agent tip: If a seller is a trust, read the trust deed first. Check who may sign and whether outside permission is needed.
Related: Title Legal Title Report Registration (Property) Gift Deed
A project or fit-out delivered ready for use, so the buyer can move in without further work.
Example: A turnkey office comes with furniture and wiring.
Agent tip: Compare what is included, as turnkey offers differ.
Related: Bare Shell Specifications
The Uttarakhand Real Estate Regulatory Authority, which regulates projects and agents in Uttarakhand, including Dehradun.
Example: A Dehradun buyer verifies a project on the UKRERA portal.
Agent tip: Check the state's land purchase rules for outsiders.
Related: RERA Authority
Unique Land Parcel Identification Number: a 14-digit alphanumeric ID assigned to each land parcel, to link land records and maps across the country.
Example: A parcel in a village receives a ULPIN that appears on its digital record.
Agent tip: Ask whether a parcel has a ULPIN. It reduces confusion between survey numbers.
Related: DILRMP Survey Number Revenue Record
A building put up without approval or in violation of the sanctioned plan, zone or rules. It can face penalty, sealing or demolition and is hard to sell or finance.
Example: An extra floor added to a builder floor without sanction is declared unauthorised and cannot be mortgaged.
Agent tip: Always compare the building with the sanctioned plan before recommending a purchase.
Related: Sanctioned Plan Regularisation Compounding
A project whose building is not yet complete. It usually costs less than a ready flat but carries delay and quality risks.
Example: A buyer books in a tower due for possession in 2028 and pays in stages.
Agent tip: Check RERA registration, the possession date, the escrow account and the builder's record.
Related: Ready-to-Move (RTM) RERA Registration Number Escrow Account
A written promise by a person to do or not do something, often given to a builder, bank or authority. In property work it may confirm that a seller will clear dues or that a buyer accepts a condition, but its legal effect depends on how it is drafted.
Example: A seller in Mohali gives a signed undertaking that he will clear the society dues before the sale deed is registered.
Agent tip: Ask for a clear undertaking on stamp paper, with a date. A vague one is hard to enforce.
Related: Affidavit Indemnity Bond Stamp Paper No Dues Certificate
Also called: Undivided Interest
The buyer's proportionate share in the land under an apartment building, which is jointly owned by all flat owners and cannot be separated. It matters in redevelopment and compensation.
Example: A 1,000 sq ft flat in a tower with a 20,000 sq ft plot and 40 similar flats might have a UDS of 500 sq ft.
Agent tip: Ask for the UDS area and see that it is stated in the sale deed.
Related: Apartment Patta Redevelopment
In a project, a single apartment, shop, office or plot offered for sale to an allottee.
Example: Unit 1204 in Tower B is a 3 BHK apartment.
Agent tip: Always write the unit number, tower and floor in your notes.
Related: Apartment Allotment Letter
Also called: UAV System, Unit Area Method
A way to calculate property tax by multiplying the area of the property by a rate per unit area. The rate depends on location, use, age, structure and floor, with multipliers applied. Delhi's municipal corporation and Bengaluru use versions of it.
Example: A shopkeeper in Delhi calculates property tax from the covered area, the colony category, the type of use and the age of the building.
Agent tip: Always check the category of the colony and the use factor. A wrong entry can raise the bill.
Related: Property Tax Annual Rental Value (ARV) Method Capital Value System
Completed or under-construction units that are on the market but not sold. Months to sell is the number of unsold units divided by the monthly sales rate.
Example: A city has 20,000 unsold flats and sells 1,000 per month, so it holds 20 months of inventory.
Agent tip: High unsold inventory can lead to discounts or offers.
Related: Absorption Rate Inventory
The Uttar Pradesh Real Estate Regulatory Authority, the regulator for projects and agents in Uttar Pradesh, including Noida, Greater Noida, Lucknow and Ghaziabad.
Example: A buyer in Greater Noida checks the project number on the UP-RERA portal.
Agent tip: Uttar Pradesh has additional requirements for agents. Read our state guide.
Related: RERA Authority NOIDA
A law, the Urban Land (Ceiling and Regulation) Act, 1976, that limited the urban land one person could hold. A central repeal in 1999 has been adopted by many states, though pending cases continue.
Example: A seller's old land has a ceiling proceeding pending from the 1980s that is still not closed.
Agent tip: Ask for confirmation that no ceiling proceedings are pending on old plots.
Related: Title Litigation Check
A city or town government such as a municipal corporation, council or nagar panchayat that provides local services and approves buildings.
Example: A town's municipal council approves building plans for homes in the town.
Agent tip: Know the ULB for the project area.
Related: Municipal Corporation Sanctioned Plan
The share of time or units that a rental property stays empty.
Example: An office building has 15% of its floor space unlet.
Agent tip: Factor vacancy into rental income forecasts.
Related: Rental Yield Net Operating Income (NOI)
Also called: Timeshare
A scheme where a buyer pays for the right to use a holiday unit for a fixed period each year, not for owning the property. It is a contract right, not ownership of land, and the buyer should check what happens at exit or resale.
Example: A family pays ₹6 lakh for one week a year at a resort in Goa for 25 years but gets no title to the unit.
Agent tip: Be careful with these deals. Read renewal, maintenance and exit terms and check whether any land title is passing at all.
Related: Holiday Home Resort Property Mis-selling
Also called: Valuation Certificate
A report by a qualified valuer that estimates the market value of a property. Banks use it to decide the loan amount.
Example: A bank's valuer values a flat at ₹52 lakh although the seller wants ₹58 lakh.
Agent tip: A low valuation reduces the loan. Plan for the gap and discuss it before the buyer signs.
Related: Market Value Loan-to-Value (LTV) Plinth Area
A traditional Indian system of design and orientation for homes and buildings. It is not a legal requirement, but many buyers ask whether a property is vastu-compliant.
Example: A buyer prefers an east-facing flat for vastu reasons and asks the agent to shortlist such units.
Agent tip: Treat it as a buyer preference. Do not make claims about results.
Related: Floor Plan Plot
Also called: வீடு, Thani Veedu
The Tamil word for house or home. Listings in Tamil Nadu use it for independent houses, as in "thani veedu", and it is often paired with plot terms such as manai.
Example: A buyer in Madurai asks about a thani veedu with a separate meter and a free-standing plan.
Agent tip: Confirm that the title covers both land and building, and check the electricity and tax connections.
Related: Independent House Manai Patta Villa
A premium stand-alone or semi-detached residence, usually in a gated community with shared amenities. Land share and construction are often sold together.
Example: A 4 BHK villa in a Zirakpur gated community includes a private garden and shares a club house with the other residents.
Agent tip: Understand if the villa is a plot sale plus construction, or a composite sale. This changes the GST treatment and the registration.
Related: Independent House Gated Community Plotted Development
A video tour or live video call of a property or project for buyers who cannot come in person, such as NRIs. It shows layout and surroundings but cannot replace a physical check of construction quality, neighbourhood and noise.
Example: An NRI in Canada joins a live video walk-through of a Mohali flat conducted by the agent.
Agent tip: Never promise from video what you cannot confirm on site. Do a physical visit before the final payment, directly or through a trusted representative.
Related: Site Visit NRI (Non-Resident Indian) Site Visit Checklist
Also called: Vizag
A port city on the coast of Andhra Pradesh with a steel plant, shipyards and IT activity. Its property market includes apartments along the beach road and growth areas such as Madhurawada and Anandapuram.
Example: A retired couple look at an apartment in Madhurawada for sea breeze and nearby hospitals.
Agent tip: Coastal and hill-slope areas can have regulation limits, so check coastal and building rules.
Related: Coastal Regulation Zone (CRZ) AP RERA Master Plan Amaravati
Dense, low-porosity floor tiles made by firing clay and minerals at high temperature, so they absorb little water. They are popular for homes because they resist stains and scratches. Types include polished, glazed and double-charged.
Example: A builder's specification sheet in Chandigarh listed 600 by 600 mm vitrified tiles for the living room and anti-skid tiles for the bathrooms.
Agent tip: Compare the brand and size in the agreement's specifications with what is actually laid. Substitutions are common.
Related: Specifications Snagging Bare Shell
A traditional fortified or large courtyard house of Maharashtra, usually made of wood and stone, built around an open yard. Many have several co-owners or tenants, and redevelopment can be complex.
Example: An investor eyes an old wada in Pune's peth area but finds twelve co-owners and sitting tenants.
Agent tip: Check all co-owners and tenancy rights before discussing redevelopment.
A Pune suburb near Hinjewadi and the Mumbai-Pune highway, with a large number of apartment projects and shops. Many residents work in nearby IT offices, so rental demand is a common topic.
Example: A broker shows a Wakad 2 BHK to a couple who work at the Hinjewadi park and sit in traffic daily.
Agent tip: Check the actual road width and the nearest school before choosing between projects in a built-up area.
Related: Hinjewadi BHK Micro-market PMRDA
A prospect who visits an office or project site without a prior appointment. Such leads are often warm but may also be seen by several agents, so registration rules matter.
Example: A couple enters a Zirakpur project office and the sales desk asks which agent introduced them.
Agent tip: Where possible have clients pre-registered with the developer. Without it the walk-in may be claimed by the developer.
Related: Lead Lead Registration Lead Protection Period
Also called: Wakf, Auqaf
Property permanently dedicated by a Muslim for a religious or charitable purpose under Islamic law. Such property is managed by a mutawalli and overseen by a state Waqf Board. It generally cannot be sold, and the Waqf Act has been amended in recent years.
Legal basis: Waqf Act, 1995, as amended in 2025 and now titled the Unified Waqf Management, Empowerment, Efficiency and Development Act, 1995. Check the current text.
Example: A buyer in Lucknow finds that a shop is registered as waqf property in the board's records, and the seller cannot lawfully sell it.
Agent tip: In older city areas, check whether the land is in the state Waqf Board's register. A sale of waqf property without lawful sanction is open to challenge.
Related: Title Legal Title Report Hiba (Muslim Gift) Marketable Title
A storage building used for goods and logistics. Rent depends on location, clear height, loading facilities and access to highways.
Example: A 50,000 sq ft warehouse near a national highway in Lalru is leased to an e-commerce firm.
Agent tip: Confirm land use, fire safety and whether the zone allows storage and logistics.
Related: Industrial Plot Commercial Property Change of Land Use (CLU)
A commercial space with basic services such as flooring, ceiling and air-conditioning ducts in place, but without full interiors.
Example: A warm-shell office needs lighter fit-out than a bare shell.
Agent tip: Clarify what is included in a warm-shell lease.
Related: Bare Shell Office Space
Also called: Water Board NOC
Permission from the municipal water supply and sewerage board to connect a building to public water and drainage lines. Large projects may need a bulk supply commitment and a drainage plan, and may build their own treatment facilities.
Example: A tower in Hyderabad waited for the water board's approval of its sewer tie-in before applying for completion.
Agent tip: Ask how the project will get drinking water and where its sewage goes. Weak answers can lead to water shortage later.
Related: Sewage Treatment Plant (STP) Occupancy Certificate (OC) Rainwater Harvesting
Treatment applied to roofs, terraces, bathrooms and basements to stop water seeping into the structure.
Example: Seepage on a top-floor flat's ceiling leads to a dispute with the builder over poor waterproofing.
Agent tip: Check the waterproofing warranty. Water damage is among the most common post-possession complaints.
Related: Defect Liability Period Snagging
The West Bengal Real Estate Regulatory Authority. West Bengal first passed its own law, the West Bengal Housing Industry Regulation Act (WB-HIRA), which the Supreme Court struck down in 2021 as clashing with RERA. The state then set up WBRERA under the central Act.
Legal basis: Forum for People's Collective Efforts v. State of West Bengal (Supreme Court, May 2021).
Example: A Kolkata buyer who earlier relied on HIRA now checks WBRERA.
Agent tip: Do not quote HIRA as a current law for West Bengal.
Related: RERA Authority Katha
An eastern Bengaluru area known for the International Tech Park, IT offices and many gated apartment communities. Metro extension and road access are regular topics for residents there.
Example: A tech worker living in Koramangala considers moving to Whitefield and tests the commute at peak hour.
Agent tip: Check the khata type and the Greater Bengaluru Authority (formerly BBMP) or BDA approvals for each property, as Bengaluru has many layout variations.
Related: Khata (Karnataka) BBMP Gated Community RERA Karnataka
Also called: Vasiyatnama, Vasiyat
A written document in which a person declares how their property should be distributed after death. It takes effect only on death, and can be changed or revoked during life.
Legal basis: Indian Succession Act, 1925. Registration is optional, but registered wills are harder to challenge.
Example: A grandfather leaves a house to his granddaughter by will. The title passes on his death. Mutation in the revenue records is then needed for tax and loan purposes, but it does not itself transfer title.
Agent tip: Property from a will still needs mutation. Ask whether the will was proved and whether other heirs have raised any claim.
Related: Probate Legal Heir Certificate Mutation
Also called: Writ, Article 226 Petition
A petition to the High Court or the Supreme Court asking it to enforce a fundamental right or to correct an unlawful act of a public authority. In property matters, it is used against actions such as demolition, acquisition or refusal of a sanction.
Example: A homeowner in Delhi files a writ petition after the authority issues a demolition notice without hearing him.
Agent tip: Writs are for actions of public bodies, not ordinary private disputes. Ask the lawyer whether a civil suit is the better route.
Related: Civil Court Unauthorized Construction Land Acquisition (RFCTLARR Act, 2013) Injunction
A long access-controlled expressway from Greater Noida towards Agra, whose surrounding land is managed by the Yamuna Expressway Industrial Development Authority (YEIDA). It is associated with plotted schemes, institutional sites and the airport-led development near Jewar.
Example: An investor in Meerut considers a YEIDA residential plot and checks the authority's allotment rules before paying.
Agent tip: YEIDA plots are allotted under the authority's own schemes, so rules on transfer and construction deadlines are scheme-specific. Read the brochure terms and lease conditions.
Related: Expressway Airport-Led Development NCR (National Capital Region) Leasehold Property
The Uttar Pradesh authority that develops land along the Yamuna Expressway for housing, industry and institutions. It allots plots on lease and is also working on large planned projects in the region.
Example: An investor checks YEIDA allotment terms for a plot, including the lease period and the resale conditions.
Agent tip: Read the authority's lease and transfer conditions. They affect resale and loans.
Related: Leasehold Property Greater Noida Industrial Development Authority (GNIDA) NOIDA
Also called: Development Yield
The yearly net income from a property divided by the total amount spent to buy or build it, including land, construction and fees. Developers use it to see whether a project earns more than the market cap rate.
Example: A developer spends ₹20 crore building a rental block in Mohali and expects ₹1.8 crore a year in net rent, a yield on cost of 9%.
Agent tip: Compare it with the current cap rate. A gap in your favour means a profitable project.
Related: Capitalisation Rate Net Operating Income (NOI) Rental Yield
Also called: Zamindari Abolition Act, Zamindari Uninmulan
The post-Independence land reform under which intermediaries who collected rent from cultivators were removed, and the cultivators became direct holders from the state. State laws, passed mostly in the 1950s, created holder categories such as bhumidhar and raiyat.
Example: A property in Bihar goes back to a former zamindari estate. The buyer's lawyer traces whether the estate's vesting in the state is reflected in the later khatian.
Agent tip: For old family or estate land, trace the chain to the vesting date, then to a settlement or allotment. It can reveal whether the seller has a valid root.
Related: Land Reforms Bhumidhar Khatian Link Documents
A town in Mohali district, Punjab, on the highways towards Delhi/Ambala, Patiala and Shimla, next to Chandigarh and Panchkula. It has a large number of apartment projects and plotted colonies.
Example: A buyer looks at a 2 BHK in a Zirakpur gated project.
Agent tip: Check the project's RERA registration and the layout approval, since the town has many projects.
Related: Tricity GMADA RERA Punjab
A detailed plan prepared for a part of the city under the master plan, showing land use, plot sizes and services in that zone.
Example: A zonal plan for a sector sets minimum and maximum plot sizes for commercial plots.
Agent tip: Use the zonal plan to check what is permitted on a specific plot.
Related: Master Plan Zoning (Land Use Zone)
Also called: Zone Certificate, Land Use Certificate
A certificate issued by the planning authority stating the land use zone of a plot under the master plan, such as residential, commercial or green belt, along with permitted uses and any reservations or road widening on it.
Example: Before buying land in Pune, a buyer got a zoning certificate showing the plot had a partial road reservation.
Agent tip: Take this certificate on any plot purchase. It is an inexpensive check that can prevent costly surprises.
Related: Zoning (Land Use Zone) Development Plan Master Plan
The classification of land by permitted use, such as residential, commercial, industrial, agricultural or green. Building rules depend on the zone.
Example: A buyer plans a clinic in a residential zone. The authority may not allow it.
Agent tip: Verify the zone of the plot in the master plan. Misclassified land may not get approvals.
Related: Master Plan Change of Land Use (CLU)
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