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Glossary

Real Estate Glossary

Understand key real estate terms, from EMI and carpet area to RERA and stamp duty. Essential knowledge for every property buyer and investor.

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A B C D E F L O P R S

15 terms found

A

Agreement Value

The sale price mentioned in the property sale agreement, used (with circle rate) for stamp duty calculation.

B

Carpet area plus the thickness of outer walls and the balcony, also known as the plinth area.

C

The actual usable floor area within the walls of an apartment, excluding the thickness of inner walls.

Minimum property value set by state government for calculating stamp duty and registration charges.

D

Initial upfront amount paid by buyer from own funds when purchasing property, before taking home loan.

E

A fixed payment amount made by a borrower to a lender at a specified date each month, consisting of both principal and interest components.

F

Freehold Property

Property where buyer gets absolute permanent ownership of both land and building with full rights.

Ratio of total permissible built-up area to plot area, set by local authorities to control building density.

L

The ratio of extra area (super built-up minus carpet area) to carpet area, expressed as percentage, representing proportionate share of common areas.

O

Official document issued by local authority certifying that a building is fit for occupation and complies with approved plans.

P

Possession Date

The date when the developer hands over the completed property to the buyer, typically after obtaining OC.

R

Registration Charges

Fee paid to the sub-registrar office for officially recording the property transaction in government records.

Central legislation enacted in 2016 to protect homebuyers and bring transparency to the real estate sector.

S

A state government tax paid on property transactions to legally record the sale deed or transfer of property ownership.

Super Built-up Area

Built-up area plus a proportionate share of common areas like lobby, staircase, elevator space, and amenities.

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