PROPGUIDE − A Complete Property Guide
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Real Estate Glossary

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Abatement Notice

It is a legal notice served on the owner or occupier/tenant of a property to inform them of the violation of local laws pertaining to maintenance of the property. The notice also indicates actions that are needed to address the violation and notifies them of the consequences in case they fail to take corrective measures.

Acre

Unit of measurement of land. One acre is equal  to 4048.32 square meters and 43560 square feet.

Addendum

 An addition or change in a legal contract.

Agent

A person authorized  by the state to conduct real estate transactions.

Alienation Clause

A provision that requires the borrower to pay the balance of the loan amount in a single large instalment after the property is sold or transferred.

Alley

A lane behind a row of buildings or between two rows of buildings.

Allottee

The person who is allotted a property, either by a government authority or by a builder.

Appraisal

Official valuation of a property carried out  by a certified Real Estate appraiser or valuer.

Appreciation

An increase in the value of a property due to changes in market conditions or any other causes over a period of time.

Assessed Valuation

The value that a taxing authority places on real property for the purpose of calculating  the amount of tax on that property.

Here are the day’s top news stories from the real estate sector.

PropGuide brings you some interesting home décor ideas that will help you add a dash of colour to...

Singapore has retained the title of being the most expensive city in the world in the Economist...

On March 20, Phase-III of the Hyderabad Metro became operational connecting two important areas of...

The Goods and Services Tax (GST) Council on March 19 approved a transition plan for the...

Authorities have built a pathway to enable commuters on the Aqua Line and the Blue Line to...

Presenting its Budget on February 7, the Uttar Pradesh government has earmarked Rs 800 crore for...

The municipal body in a city keeps records of property ownership transfers to fix property tax...

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