Real Estate Glossary - Complete Real Estate Terms and Definitions

Real Estate Glossary on Ghar

The real estate market is complex, with unique terminologies that can be challenging for new buyers or investors. Understanding these terms ensures informed decision-making and avoids costly mistakes. This real estate glossary on Ghar simplifies key terms related to property types, measurements, financial concepts, legalities, and project features, empowering you to navigate the real estate world confidently.

Glossary (Alphabetically Arranged)

Carpet Area

The usable area within a flat, excluding walls, balconies, and terraces. It includes the thickness of internal walls and typically forms about 70% of the built-up area.

Down Payment

The initial amount a buyer pays upfront when purchasing a property, usually 10–20% of the total property value. The remaining amount is often financed through loans.

EMI (Equated Monthly Installment)

The fixed monthly payment made by the borrower to repay a home loan, comprising both principal and interest.

FSI (Floor Space Index)

The ratio of the total built-up area to the plot size. Higher FSI allows more construction on a given plot, as per government norms.

Freehold Property

A property where the buyer has complete ownership, including the land, without any time restrictions or lease agreements.

Gated Community

A residential complex with controlled access, offering security, privacy, and shared amenities such as parks, clubhouses, and jogging tracks.

Maintenance Charges

The fees paid by homeowners or tenants for the upkeep of shared facilities and common areas in a residential complex.

NA Plot

A non-agricultural land parcel approved for construction with infrastructure provisions like roads, electricity, and sewage.

Ready-to-Move-In Property

A fully constructed property ready for immediate possession, saving buyers from construction delays and allowing physical inspection.

Super Built-Up Area

The total area of a flat, including carpet area, walls, balconies, and a proportionate share of common amenities like lobbies, staircases, and clubhouses.

Title Deed

A legal document that proves the ownership of a property. It is vital for verifying that the seller has the legal right to transfer ownership.

Villa

A standalone, private residential property on its plot, often featuring gardens, parking spaces, and luxurious amenities.