+91-7026009501
+91-7026009501Real Estate Glossary
Buying, selling and renting in real estate is a complicated process so is the terminology that comes with it. Here's a plain-language guide to familiar/unfamiliar real estate terms. The terms are in alphabetical order to help you find what you are looking for easily.
Abatement Notice
A formal legal notice served to property owners or occupants.
Absolute Title
Complete and undisputed ownership of a property that is free from any legal problems or claims.
Accelerated Depreciation
A bookkeeping method that allows property owners to claim larger depreciation amount.
Acceleration Clause
A loan provision that allows lenders to require borrowers to repay all or part of their remaining loan if certain requirements are not met.
Acre
A standard unit for measuring land area.
Add-on Factor
A commercial leasing calculation found by dividing usable square feet by rentable square feet.
Advance Payment
The amount paid by buyers to sellers when signing the Agreement to Sell to secure the transaction.
Affidavit Of Title
A sworn legal document provided by property sellers that clearly states any potential legal issues.
Agreement To Sell (ATS)
A contract between buyer and seller detailing the price and terms of the transaction.
All Cash Deal
It is a property transaction where the buyer provides the entire purchase amount at closing.
Allotment Letter
A document issued by developers confirming a specific plot or unit in a project under development or construction.
Alternative User Value
The estimated value of land and buildings based on a potential use that differs from the current use.
Amenities
Property features that make it more attractive and increase resident satisfaction offered by developers in planned developments.
Amortisation
The loan repayment structure where each payment covers both interest that builds up over time and principal reduction.
Amortisation Schedule
It is a table showing how each payment gradually decreases the loan balance until it reaches zero.
Anchor Tenant
Major variety chain stores, or supermarkets strategically positioned in shopping malls to attract customers and encourage other retailers to lease space.
Annuity
A sum of money paid each year, usually as a legal obligation under contract or through pension schemes.
Appraisal
A written report estimating property value prepared by a certified real estate appraiser or valuer.
Appreciation
An increase in property value due to changes in market conditions, supply and demand, or other economic factors affecting real estate prices.
Arbitration
A dispute resolution method where an independent third party makes a binding decision, providing an alternative to court proceedings.
As-Is Where-Is Basis
A sale condition primarily used by banks in foreclosure auctions and legal conditions of the property as they currently exist.
Asking Price
The listed price of a property, though this may not necessarily be the final selling price as owners may be willing to negotiate.
Assessed Valuation
The valuation assigned to a property for tax purposes by government authorities. This may differ from actual market value.
Asset
A resource with economic value that has potential to provide future benefits.
Asset Valuation
A method of determining the worth of property or other assets.
Assignee
A person who property rights and interests are transferred through legal assignment.
Assignment
The transfer of property interest, especially leases, from one party to another through signing assignment papers.
Assignor
A person, usually the owner, who transfers their property rights and interests to another party.
Auction
A public sale where property or real estate is sold to the highest bidder through competitive bidding.
