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Real Estate Glossary

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Balloon Payment

A loan payment (EMI) that is at least the double the amount of  previous payments (EMIs), done to clear a debt. 

Basic Sales Price ( BSP)

Price of an apartment excluding the charges for amenities like car parking, clubhouse etc.

Bayana

It is a hindi term used to denote the token money given by a buyer for a particular property after negotiations are done. The payment indicates the buyer's interest in the property and is usually offered to seal the deal.

Beneficiary

A person/persons or an institution designated to receive an income from a trust, estate or a deed of trust.

Building Code

Based on the notified safety standards within a specific area, a building code is a regulation that defines the design, construction and materials used in a building.

Built-up Area

It includes the carpet area plus thickness of the outer walls and the area of balcony/balconies.

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