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REAL ESTATE TERMINOLOGY-DREAM HOUSE

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REAL ESTATE TERMINOLOGY

BSP– Basic Selling Price. It is measured in terms of Rupees (Rs.) in india per sq feet or sq yrds or sq meter, etc.

Lease Rent– It is the rent which had to pay by the property buyer to the authority directly or sometime by the means of builder. LR is fixed by the authority.

ESSC– Electric Sub Station Charge. It is the charge which had to pay by the property buyer to the builder for the setup of a station of electricity. E.g. Jaypee Project in Great Noida Expressway.

IFMS– Interest Free Maintenance Security. This is for the maintenance of a society and this is refundable. For e.g.-
If anyone buys a flat and he/she pays an IFMS of say Rs25/sqft. Then an interest on this amount is to be used for the maintenance of the society and it is used by the RWA i.e. Resident Welfare Association.

FFC– Fire Fighting Charges to prevent the society from the fire.
Power Back Up- Power Back up is back up of an electricity usually the power Back up has charged by the builder in Noida is 15000/kwa

DPP– Down Payment Plan. In this type of plan 10% of total cost to be paid at the time of booking, 85% in 30 days or 45 days (depend on the builder) and rest 5% at the time of possession.

CLP– Construction Link Plan. In this type of plan a buyer pay 10% at the time of booking and rest amount accordingly to the construction of a project say-10% in bhoomi pujan, 10% inexcavation and continued.

Flexi Plan– In this type of payment plan, a buyer pays fixed% of total amount from time to time till possession, this is a mixture of DPP and CLP.

Layout Plan– This is an overview of a brief idea of a project according to which a project will construct.

Floor Plan– In this plan the area and sizes of the flats were mentioned.

Allotment– Allotment is just like that you get a key of a lock but not have the permission to open it after booking the flat and by paying 10% you get the allotment letter in 20-30 days.

Possession– Possession, as discussed above now you had the right to open a lock.

Bank Loan– Bank loan in which bank will finance your home loan and bank will only pay your reaming amount of your flat. Usually bank finance from 75% to 85% of amount.

Subvention– Subvention is a scheme from a side of a builder in which you have to pay a certain amount at time of booking and the rest amount at the time if possession.

ROI– Return on investment. How much return will you get on your investment.

Free Hold Property– Free hold property is your ancestor property on which from time to time you or your family member claim. On a free hold property a property holder had to pay annual housing tax.

Lease Property– I case property is for limited time i.c 99 years after that you had to renew your property after paying the lease rent to the authority.

Rzone– Residential/one
FSI-Floor space index. Formula. FSI Total Covered Area of all Floor of All Builder on plot Area of Building

FAR– Floor Area Ration. This the permissible construction of area on a particular plot.

Façade– façade is the front view of the building.
PVC-Poly Vinyl Chloride
Vitrified tiles- It is used in the bedrooms and in drawing/dining room.
Dadoo tiles– It is the small tiles which were used in kitchen.
Anti skilled tiles– these types of tiles were used in bathrooms, it doesn’t let the slippery.
Foyer– An entrance to the Flat. In ehieh both side the wall exists.
Shaft– A narrow space between the two flats which usually can be seen from toilet and in which water lines were prosecuted.
PLC– Preference Locations Charges.
Types of Plc– floor road facing and club facing. Builder charge different prices for different prices for different projects.
Mutation– Dhakila khariz. In which a buys after get registry get in to account of red books and it is done in GAD MUKTI SHWAR in Noida.
Registration Charges– Buyer pays the registration charges after getting the possession to the govt and it is almost 5% to 7% of total cost of the property.
DPR– Detailed Project Report which had to be submitted by the builder to the authority and after the approval of the authority on report a builder can start the construction.
CLU– Change of land use in which the agriculture land can be converted in to residential land or any other.
Super Area– Super Area is the total area on which the buyer of the property exists the hold. Formula- Super Area= Carpet Area+Build Up Area
Built Up Area– Built Up Area is the area on which the total construction can be done.
Carpet Area– Carpet Area is the Breathing area of the Property or which can be used.

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PARAMETERS TO STUDY ABOUT THE PROJECT

Builder
Location
Background Of Builder
Rate Of Project And Other Charges
Rate Of Location (tentative Idea)
Sizes Of Projects
Unique Selling Preposition (usp) Of Project
Area Of Projects
How Many Towers
Height Of Towers
Usp Of Location
Analysis Of Project And Segmentation Of Clients
Project Dairy (project Details/updates)
Planner Of year meetings/follow Ups
Data Dairy
Terminology Sheet
Road Map By Hand
Main Focused Project List
As Visited Sites-Knowledge
Websites Of Builders/projects (parameters)
Project Coordinators Mobile No. List

CONVERSION OF SIZE

1 sq.meter. = 10.76 sq.ft.

1sq.yard.= 9 sq.ft
1sq.mt.= 1.196 sq.yards.
1sq.yards=.83sq.meter.
1acre = 4046.85 sq.meter.
1acre = 4840sq.yards.
1 hectare = 2.471 acre.

TO YOUR SUCCESS

I believe in you, I appreciate what you do and I know you can do, This is to your success. Every candle; every home, bridge, temple or city ever built; every act of human kindness, discovery, daring, artistry or advancement they all started first in someone’s imagination, and then worked its way out. You have the power so use it. Extraordinary people visualize not what is possible or probable, but rather what is impossible. And by visualizing the impossible, they begin to see it as possible and start thinking what nobody else has thought and that goes
To their SUCCESS______



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