India Real Estate Dictionary — 1070+ Property & RERA Terms Explained

Cadastral Map

Measurement

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 & agent tip

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.

Cadastral Survey

Land Records

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 & agent tip

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.

CAM Charges

General & Places

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 & agent tip

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

Cancellation Charges

General & Places

A sum a developer deducts when a buyer cancels a booking. Under RERA, one-sided or unreasonable forfeiture clauses can be challenged.

Example & agent tip

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.

Cancellation Deed

Documents

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 & agent tip

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.

Cantilever

Construction

A structural element, such as a balcony slab, that projects from a building without direct support at its outer end.

Example & agent tip

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

Cantonment Board

Authorities

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 & agent tip

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.

Capital Appreciation

Investment & Valuation

The increase in the value of a property over time from location growth, infrastructure, demand and inflation.

Example & agent tip

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

Capital Gains

Tax & Duties

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 & agent tip

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.

Capital Gains Account Scheme

Tax & Duties

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 & agent tip

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.

Capital Gains in Joint Development

Tax & Duties

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 & agent tip

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.

Capital Loss Set-off

Tax & Duties

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 & agent tip

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.

Capital Value System

Tax & Duties

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 & agent tip

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.

Capitalisation Rate

Investment & Valuation

The net operating income of a property divided by its price. Investors use it to compare income properties.

Example & agent tip

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.

Carpet Area

Measurement

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 & agent tip

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.

Carpet-to-Saleable Ratio

General & Places

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 & agent tip

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.

Cash-on-Cash Return

Investment & Valuation

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 & agent tip

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.

Caveat

Legal

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 & agent tip

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

Cent

Measurement

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 & agent tip

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.

Central Advisory Council

RERA

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 & agent tip

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

Central Ground Water Authority (CGWA)

Authorities

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 & agent tip

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.

Central Pollution Control Board (CPCB)

Authorities

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 & agent tip

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.

CERSAI

Finance

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 & agent tip

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

Certificate of Competency (CoC)

Authorities

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 & agent tip

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.

How to become a RERA agent in Maharashtra →

Certified Copy

Documents

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 & agent tip

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.

CGRERA

Authorities

The Chhattisgarh Real Estate Regulatory Authority, which regulates projects and agents in Chhattisgarh, including Raipur.

Example & agent tip

Example: A Raipur buyer checks the project on the CGRERA portal.

Agent tip: Mutation in Chhattisgarh is called namantaran.

Related: RERA Authority Namantaran

How to become a RERA agent in Chhattisgarh →

Chain (Land Measure)

Measurement

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 & agent tip

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

Chandigarh Housing Board (CHB)

Authorities

A body of the Chandigarh Administration that builds and allots flats and other properties in Chandigarh.

Example & agent tip

Example: A buyer takes a resale CHB flat in a Chandigarh sector.

Agent tip: Resale of CHB properties has transfer rules and charges.

Change of Land Use (CLU)

Approvals

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 & agent tip

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.

Channel Partner

Agent Practice

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 & agent tip

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.

Channel Partner Agreement

Agent Practice

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 & agent tip

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.

Channel Partner Empanelment

Agent Practice

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 & agent tip

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.

Charge on Property

Legal

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 & agent tip

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.

Chatak

Measurement

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 & agent tip

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

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.

Cheating in Property Deals (BNS)

Legal

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 & agent tip

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.

Cheque Bounce (Section 138)

Legal

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 & agent tip

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.

Chitta

Land Records

A Tamil Nadu land record that shows land classification, extent and ownership details, usually looked up together with the patta.

Example & agent tip

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

CIDCO

Authorities

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 & agent tip

Example: A Navi Mumbai plot is bought on CIDCO lease terms.

Agent tip: Check the lease conditions and the conversion to freehold policy.

Circle Rate

Tax & Duties

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 & agent tip

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.

Civil Court

Legal

A court that decides disputes about property, contracts and money. Property suits for title and possession are filed here.

Example & agent tip

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

Closing the Deal

Agent Practice

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 & agent tip

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.

Club Membership Fee

General & Places

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 & agent tip

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.

CMDA

Authorities

The Chennai Metropolitan Development Authority, which prepares the master plan and approves buildings in the Chennai region.

Example & agent tip

Example: A Chennai builder applies to the CMDA for planning permission.

Agent tip: Check CMDA approval for projects in the region.

Coastal Regulation Zone (CRZ)

Approvals

Areas along the coast where construction is restricted or regulated under the Coastal Regulation Zone Notification, 2019, to protect the shoreline.

Example & agent tip

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.

Co-borrower

Finance

A person who takes the loan jointly with the main borrower and shares responsibility for repayment. Each is liable for the full loan.

Example & agent tip

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

Co-brokerage

Agent Practice

An arrangement in which two agents share the commission on a deal, one with the listing and the other with the buyer.

Example & agent tip

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

Coimbatore

General & Places

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 & agent tip

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.

Cold Calling

Agent Practice

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 & agent tip

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.

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.

Collective Investment Scheme

Investment & Valuation

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 & agent tip

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

Colony

General & Places

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 & agent tip

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.

Colony Licence

Approvals

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 & agent tip

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.

Column

Construction

A vertical structural member that carries the building's load down to the foundation.

Example & agent tip

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.

Commencement Certificate

Approvals

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 & agent tip

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.

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

Commission Clawback

Agent Practice

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 & agent tip

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.

Commission Dispute

Agent Practice

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 & agent tip

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.

Commission Invoice

Agent Practice

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 & agent tip

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.

Commission Slab

Agent Practice

A tiered commission structure that increases the percentage as an agent's sales volume or value rises.

Example & agent tip

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

Common Area

Measurement

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 & agent tip

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.

Comparable Sales (Comps)

Investment & Valuation

Recent sale prices of similar properties nearby, used to estimate the value of a property.

Example & agent tip

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

Comparative Market Analysis (CMA)

Agent Practice

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 & agent tip

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.

Competent Authority (RERA)

RERA

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 & agent tip

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.

Complaint Forms (Form M and Form N)

RERA

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 & agent tip

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.

Completion Certificate (CC)

Approvals

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 & agent tip

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.

Composite Loan

Finance

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 & agent tip

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.

Composition of Appellate Tribunal (Sections 45-46)

RERA

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 & agent tip

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.

Composition of RERA Authority (Sections 20-22)

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 & agent tip

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.

Compound Annual Growth Rate (CAGR)

Investment & Valuation

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 & agent tip

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.

Compounding

Approvals

A procedure by which authorities allow minor violations of the building rules to stay, on payment of a fee.

Example & agent tip

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.

Concealed Wiring

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 & agent tip

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.

Conflict of Interest

Agent Practice

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 & agent tip

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.

Consent to Establish (CTE)

Approvals

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 & agent tip

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.

Consent to Operate (CTO)

Approvals

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 & agent tip

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.

Consolidation of Holdings

Land Records

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 & agent tip

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.

Construction Finance

Finance

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 & agent tip

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.

Construction-Linked Plan

Agent Practice

A payment plan in which instalments fall due when construction milestones are reached, such as foundation, slab or finishing.

Example & agent tip

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.

Constructive Notice

Legal

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 & agent tip

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.

Consumer Commission

Legal

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 & agent tip

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

Consumer Protection Act, 2019

Legal

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 & agent tip

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.

Contour Line

Measurement

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 & agent tip

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.

Conversion Deed (Leasehold to Freehold)

Documents

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 & agent tip

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.

Conveyance Deed

Documents

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 & agent tip

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.

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.

Coparcenary

Legal

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 & agent tip

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.

Corner Plot

Measurement

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 & agent tip

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.

Corpus Fund

General & Places

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 & agent tip

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.

Cost Approach

Investment & Valuation

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 & agent tip

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.

Cost Inflation Index (CII)

Tax & Duties

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 & agent tip

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.

Cost of Acquisition

Tax & Duties

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 & agent tip

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.

Cost of Improvement

Tax & Duties

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 & agent tip

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.

Counter Offer

Agent Practice

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 & agent tip

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.

Covid-19 Force Majeure Extension

RERA

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 & agent tip

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.

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.

CREDAI

Authorities

The Confederation of Real Estate Developers' Associations of India, an industry body of developers. It has city and state chapters.

Example & agent tip

Example: A city's CREDAI chapter holds a property expo.

Agent tip: Membership is not a guarantee of quality or of RERA compliance.

Related: Promoter NAREDCO

Credit Information Report

Finance

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 & agent tip

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.

Credit Linked Subsidy Scheme (CLSS)

Finance

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 & agent tip

Example: A buyer who took a loan under CLSS in 2020 received an upfront subsidy.

Agent tip: Do not promise CLSS to new buyers.

Credit Score (CIBIL)

Finance

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 & agent tip

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.

Criminal Trespass (BNS)

Legal

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 & agent tip

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.

Critical Path Method (CPM)

Construction

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 & agent tip

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.

CRM

Agent Practice

Customer relationship management software used to track leads, follow-ups, site visits and deals.

Example & agent tip

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

CTS Number

Land Records

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 & agent tip

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

Cube Test

Construction

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 & agent tip

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.

Cubic Metre

Measurement

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 & agent tip

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.

Curing

Construction

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 & agent tip

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.

Customer Ledger (Statement of Account)

Documents

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 & agent tip

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.