India Real Estate Dictionary

A

5 terms

Affordable Housing

Property Types

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 & agent tip

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.

Affordable Rental Housing Complex (ARHC)

Property Types

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 & agent tip

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.

Agricultural Land

Property Types

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 & agent tip

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.

Apartment

Property Types

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 & agent tip

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.

Assisted Living

Property Types

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 & agent tip

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.

B

4 terms

BHK

Property Types

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 & agent tip

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.

Builder Floor

Property Types

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 & agent tip

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.

Bungalow

Property Types

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 & agent tip

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.

Business Park

Property Types

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 & agent tip

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.

C

8 terms

Chawl

Property Types

A traditional tenement building in Mumbai with small rooms along a shared corridor. Many have been redeveloped under government schemes.

Example & agent tip

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.

Cold Storage

Property Types

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 & agent tip

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.

Co-living Space

Property Types

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 & agent tip

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.

Commercial Plot

Property Types

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 & agent tip

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.

Commercial Property

Property Types

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 & agent tip

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

Cooperative Group Housing

Property Types

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 & agent tip

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.

Co-operative Housing Society

Property Types

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 & agent tip

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.

Co-working Space

Property Types

A managed shared office where individuals and teams rent desks or small offices on short terms with common amenities.

Example & agent tip

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.

D

2 terms

Data Centre

Property Types

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 & agent tip

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.

Duplex

Property Types

A residence spread over two floors connected by an internal staircase. It may be an apartment or a house.

Example & agent tip

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.

E

1 terms

EWS/LIG/MIG/HIG Category

Property Types

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 & agent tip

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.

F

2 terms

Farmhouse

Property Types

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 & agent tip

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.

Flat

Property Types

The everyday word for an apartment in India. Co-operative societies in Maharashtra and Gujarat also use it.

Example & agent tip

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.

Related: Apartment BHK

G

3 terms

Garden Apartment

Property Types

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 & agent tip

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

Gated Community

Property Types

A residential project with controlled access, a boundary wall and shared services such as security and landscaping.

Example & agent tip

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.

Group Housing Site

Property Types

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 & agent tip

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.

H

6 terms

Healthcare Real Estate

Property Types

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 & agent tip

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.

Heritage Property

Property Types

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 & agent tip

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.

High Street Retail

Property Types

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 & agent tip

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.

High-Rise Building

Property Types

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 & agent tip

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.

Holiday Home

Property Types

A second home in a resort town or hill station for vacations and occasional rental.

Example & agent tip

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

Hotel Property

Property Types

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 & agent tip

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.

I

6 terms

Independent House

Property Types

A stand-alone house built on a plot owned by the buyer. The buyer owns both the building and the land.

Example & agent tip

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.

Industrial Estate

Property Types

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 & agent tip

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.

Industrial Plot

Property Types

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 & agent tip

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.

Industrial Shed

Property Types

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 & agent tip

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.

Institutional Plot

Property Types

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 & agent tip

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.

IT Park

Property Types

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 & agent tip

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.

L

1 terms

Logistics Park

Property Types

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 & agent tip

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.

M

1 terms

Mixed-Use Development

Property Types

A project combining residential, commercial and sometimes hospitality components on the same land.

Example & agent tip

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.

O

1 terms

Office Space

Property Types

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 & agent tip

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.

P

5 terms

Paying Guest (PG) Accommodation

Property Types

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 & agent tip

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.

Penthouse

Property Types

A luxury apartment on the top floor of a building, usually with a large terrace and premium views.

Example & agent tip

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.

Petrol Pump Site

Property Types

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 & agent tip

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.

Plot

Property Types

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 & agent tip

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.

Plotted Development

Property Types

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 & agent tip

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.

R

4 terms

Residential Plot

Property Types

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 & agent tip

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.

Resort Property

Property Types

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 & agent tip

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.

RK (Room Kitchen)

Property Types

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 & agent tip

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

Row House

Property Types

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 & agent tip

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.

S

12 terms

SCF (Shop-cum-Flat)

Property Types

A building type in Tricity sectors where the ground floor has shops and the upper floor has residential flats.

Example & agent tip

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.

SCO (Shop-cum-Office)

Property Types

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 & agent tip

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.

Semi-Detached House

Property Types

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 & agent tip

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.

Senior Living

Property Types

Housing designed for older residents, with accessible design, medical support and community services.

Example & agent tip

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

Serviced Apartment

Property Types

A furnished apartment that comes with housekeeping, utilities and sometimes meals, rented by the day, week or month.

Example & agent tip

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.

Shop

Property Types

A retail unit in a mall, market or mixed-use building. Valuation depends on footfall, frontage and floor level.

Example & agent tip

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.

Shopping Mall

Property Types

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 & agent tip

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.

Showroom

Property Types

A large retail unit, typically on a main road, used by brands to display products. Frontage and parking decide its value.

Example & agent tip

Example: A car showroom in an industrial area needs a large frontage and ample parking.

Agent tip: Check permitted commercial use and parking norms.

Smart City

Property Types

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 & agent tip

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.

Special Economic Zone (SEZ)

Property Types

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 & agent tip

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.

Student Housing

Property Types

Purpose-built accommodation near campuses, rented by the bed or room and managed by an operator.

Example & agent tip

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.

Studio Apartment

Property Types

A compact unit with one combined living, sleeping and cooking space and a separate bathroom. It is popular with students, singles and investors.

Example & agent tip

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.

T

1 terms

Township (Integrated)

Property Types

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 & agent tip

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.

V

2 terms

Vacation Ownership (Timeshare)

Property Types

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 & agent tip

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.

Villa

Property Types

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 & agent tip

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.

W

1 terms

Warehouse

Property Types

A storage building used for goods and logistics. Rent depends on location, clear height, loading facilities and access to highways.

Example & agent tip

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.

Affordable Housing

Affordable Rental Housing Complex (ARHC)

Agricultural Land

Apartment

Assisted Living

BHK

Builder Floor

Bungalow

Business Park

Chawl

Cold Storage

Co-living Space

Commercial Plot

Commercial Property

Cooperative Group Housing

Co-operative Housing Society

Co-working Space

Data Centre

Duplex

EWS/LIG/MIG/HIG Category

Farmhouse

Flat

Garden Apartment

Gated Community

Group Housing Site

Healthcare Real Estate

Heritage Property

High Street Retail

High-Rise Building

Holiday Home

Hotel Property

Independent House

Industrial Estate

Industrial Plot

Industrial Shed

Institutional Plot

IT Park

Logistics Park

Mixed-Use Development

Office Space

Paying Guest (PG) Accommodation

Penthouse

Petrol Pump Site

Plot

Plotted Development

Residential Plot

Resort Property

RK (Room Kitchen)

Row House

SCF (Shop-cum-Flat)

SCO (Shop-cum-Office)

Semi-Detached House

Senior Living

Serviced Apartment

Shop

Shopping Mall

Showroom

Smart City

Special Economic Zone (SEZ)

Student Housing

Studio Apartment

Township (Integrated)

Vacation Ownership (Timeshare)

Villa

Warehouse

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