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.

The ‘hot money’ is no longer concentrated in a few cities. The PE funds are fast turning towards...

Recent developments show it may be a long time before India is able to successfully implement the...

The Delhi Development Authority has proposed to relax an allotment norm which hinged on the size or...

The state Legislative Assembly has amended the Maharashtra Stamp Duty Act to increase the charges...

Ahmedabad north has several affordable neighbourhoods that enjoy excellent connectivity to the...

The Maharashtra government has approved the selection of GVK-led Mumbai International Airports Ltd...

The UK would leave the economic bloc on March 29, 2019, at 11 pm (local time), British Prime...

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