Category: Real Estate Terminology

Glossary of real estate terms structured topic wise in more user- friendly way.


 

What is Occupancy Certificate,CC and IOD? Real Estate Terminology Part 2 [Approvals]

In the second of this six part series, we cover real estate terms related to important approvals for properties like occupancy certificate, etc. The first part covered terminology related to area of the property including carpet area, built-up area, etc. Intimation of Disapproval (IOD) IOD is an essential permission given to the developer by the […]

What is built up area and carpet area? Real Estate Terminology Part 1 [Area]

Yes, we understand that real estate terminology can be confusing, especially for first time home buyers. This article, the first in a six part series by Spacio Realtors explains the terms related to area of a property like built-up area, carpet area, etc. What is Carpet Area? This is the net usable floor area within […]

How can a buyer or seller find out the official value of property? What is Ready Reckoner Rate?

READY RECKONER RATE If you are buying or selling property in India, did you know there is an official way to find out its minimum value and ready reckoner rates are those government defined rates. There is a government defined rate known as Annual Schedule of Rates (ASR) which ensures that property sellers don’t cheat […]
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