Getting Wise About Sample Apartments..!

by Mr. Om Ahuja , JLL India Sample apartments (flats) are indicative only – they basically serve the purpose of giving the intending purchaser a sense of space and dimension. The fact that they are furnished allows for an understanding of how the available space could be opti…

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NIMBYism - Not In My Backyard In Indian Realty..!

Not In My Backyard - NIMBYism In Indian Real Estate..! By Mr. Kishor Pate, CMD - Amit Enterprises Housing Ltd. NIMBY is not a term we often hear in India, though it is quite a popular word (and a dynamic concept) in the West. That said, NIMBY - an acronym for 'Not In My B…

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Real Estate Terms - Adverse Possession

Adverse possession.. Adverse possession  happens when the real owner of a property loses his/her ownership. It often happens that a person or / a family is allowed to stay in someone else’s house or / on plots land for many years in the form of, say, caretakers. There may not…

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What is Affordable Housing Loans?

In a bid to boost the housing sector, The Reserve Bank of India (RBI) said loans upto Rs. 50 lakhs in metros and Rs. 40 lakhs in other centers will be considered as affordable housing loans. Under the current regulatory regime, loans given by banks to individuals up to Rs. 2…

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Terminology - Home Loan - Home Improvement Loan

Terminology - Home Loan A home improvement loan is distinct from a loan taken to acquire or construct a house. These loans are given for implementing repair works, healing and renovations in a home that has already been purchased. To avail the home improvement loans, you have…

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What is Time Sharing?

A hybrid form of ownership. A time share is the right to occupy a unit of real estate property, like a condominium or / vacation home, during a specified number of separate time periods. Each time period is for a certain duration, like one or  / two weeks. Time-sharing allo…

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Alternative Investment Funds...

The market regulator SEBI, has allowed Alternative Investment Funds (AIFs) to set up shop in India under a newly formulated route. Which allows pooling of funds for investments in areas such as real estate, private equity & hedge funds. The minimum investment limit whic…

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Real Estate Term : Spillover Demand

The real Estate term spillover demand is most often used when a certain location is either reaching saturation point in terms of development potential. It has begun commanding high property rates because of high demand, or / both. When this spillover demand happens, budget-…

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What Is 'Spillover Demand' In Indian Real Estate?

by Mr. Arvind Jain, Pride Group In real estate investment circles, we often hear the term 'spillover demand' or / 'spillover effect'. It is a very important concept and serious real estate investors must have a clear grasp of it. Basically, the spillover effec…

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What is FSI / FAR ?

Floor Space Index (FSI) refers to the ratio of the built up area of a property to the area of the land on which it is built. An FSI of 60 % would mean that the total built up area of the building can be equal to only 60 % of the area of the land on which it is being built. T…

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Buyer's Market and Seller's market..

A situation in which supply exceeds demand, giving purchasers an advantage over sellers in price negotiations. Buyer's Market is commonly used to describe real estate markets, there is more units available than there are people who want to buy it. The opposite of a buye…

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What is Residual Income?

The amount of income that an individual has after all personal debts, including the mortgage or home loan, have been paid. This calculation is usually made on a monthly basis, after the monthly bills & debts are paid. Also, when a mortgage / home loan has been paid off …

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What is Reset Date?

The point in time when the initial fixed interest rate on an adjustable rate mortgage changes to an adjustable rate. This date is commonly one to five (1 to 5)  years from the start date of the mortgage. After the initial reset date, the interest rate will continue to reset…

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What is Reset Rate, Floating Rate, Adjustable rate?

The new percentage of interest that a housing loan or mortgagor must pay on the principal of an adjustable rate (Floating) mortgage when the reset date arrives & the prescheduled interest rate change goes into effect. It is also called  Floating Rate or Adjustable rate T…

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What is UDS in Real Estate ?

UDS is nothing but U n D ivided S hare (UDS). Sharing of available plots of  land amongst the owners to the proportions of the actual plinth area of their respective flat. Simply put, UDS = (Total Constructed Building Area / Total Plot Area) X  Individual Flat Area

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What is Deviation of Plan in Tamilndau?

The sanctioned plan will have some space technically called as setback on all four (4) sides of the building. In general it varies from 1.5 meter to 4 meter according to various development control rules (DCR). If the building is constructed leaving lesser setback than the o…

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What is Approved plan in Tamilnadu ?

Before the commencement of construction the proposed construction must be approved by the local body of Tamilnadu government. Without the sanction plan the commencement of construction is illegal. All the sanctioned drawings will have a unique number for the approval.  The s…

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What is An Approved Lay - out in Tamilnadu..?

Approved layout is one which is approved by either CMDA ( Chennai Metropolitan Development Authority) or DTCP ( Directorate of Town & Country Planning)  according to the location of the plots of land in Tamilnadu. Plots of  Land within the metropolitan area will be accorde…

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What is Residual Income, Take Home Salary?

The amount of income that an individual has after all personal debts, including the mortgage or home loan, have been paid. This calculation is usually made on a monthly basis, after the monthly bills & debts are paid.  This is also called Take Home Salary Also, when a mo…

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What is Time Sharing?

What is Time Sharing? A hybrid form of ownership. A time share is the right to occupy a unit of real estate property, like a condominium or / vacation home, during a specified number of separate time periods. Each time period is for a certain duration, like one or  / two wee…

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