Inside the VaultExclusive Real Estate Intelligence
Your personal archive of refined definitions, expert answers, and insights reserved for those who seek precision in every property decision.
Buying or investing in property is one of the biggest financial decisions in life. This guide helps you understand the basic concepts, legal terms, and important questions related to property buying, selling, and investment.
Essential Real Estate Terms
Master the key terminology that every property buyer, seller, and investor should know.
Agreement to Sale
A preliminary contract outlining terms before final sale deed.
Built-up Area
Carpet area + wall thickness + balcony area.
Carpet Area
Usable floor space within walls.
Circle Rate
Minimum value set by the government for property transactions.
Completion Certificate (CC)
Proof that construction matches approved plans.
Encumbrance Certificate (EC)
Shows property is free from any legal dues or mortgage.
FAR/FSI
Floor Area Ratio/Floor Space Index — defines how much can be built.
Freehold Property
Full ownership of land and building.
Leasehold Property
Ownership for a limited period (like 99 years).
Mutation
Change of ownership in government records.
No Objection Certificate (NOC)
Approval from authorities for construction/sale.
Occupancy Certificate (OC)
Proof that a building is ready to occupy.
Power of Attorney (POA)
Authorization to act on another's behalf.
RERA
Real Estate Regulatory Authority for buyer protection.
Ready Reckoner Rate
Minimum government-set valuation for property.
Registration
Legal recording of property ownership transfer.
Stamp Duty
Tax paid for registering property ownership.
Title Deed
Legal proof of property ownership.
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