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
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
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