The general wear-n-tear, colouring, plasters, lifts, lobbies, garden-areas, shared amenities, security are some few names which require some financial attention from the dwellers.

In a real estate development, open space ratio is the ratio of open space land area to developed land area

Yellow zone is the area earmarked for residential purpose.

Selecting the location to build any infrastructure highly depends on the Catchment Area Analysis.

A mezzanine floor is an intermediate floor between main floors of a building

The empty space from the building till the boundary of the plot at all sides is called the Setback area.

Built Up Area is the carpet area plus the thickness of outer walls and the balcony.

The area used to use the washing machine and overall laundry activities.

Floor Space Index or Floor Space Ratio is a proportionate calculation of Built-Up Area of an apartment with respect to the area of the land-plot upon which the building is built.

Loft or Attic is the usable spaces directly under the roofing of a building. The common European trend of using loft spaces as bedrooms is growing in India.

Boutique representation of a complete housing unit in an ongoing development.

The fiscal value of an asset which reduces over time due to usage, wear and tear or obsolescence. This is depreciation, it is also calculated on a set assumption in the books of accounts.

Annual Percentage Rate is the rate which is charged for a tenure of a year, and also which is mentioned in the loan agreement.

This amount of money is required to obtain a No-Objection Certificate. If a builder tries to recover transfer fee from a homeowner when they try to sell the property to a third party, it is the violation of the Transfer of Property Act, 1882. Also, any sum, in the name of ‘Transfer Fee’ of more than INR 25000 is considered null or void as unlawful consideration under Sec. 23 of the Indian Contract Act, 1872.

The period before which the loans can’t be paid off without incurring any liabilities. Pertaining to real-estate, the loan is understood to be a housing loan.

Wooden flooring is known to have an insulation to extreme temperature, they are not cold in winters or warm in summers, unlike the marble flooring. But the urban dwelling is following suit of installing wooden flooring because of the comfort and aesthetics it offers. They are known to have a high maintenance cost.

Considered unique to the housing of the Indian Subcontinent, marble flooring defines a flair of sophistication in traditional or modern housing. Marbles are crystallised metamorphic rocks which promise a lustre when polished, hence the glossy finish on the marble flooring.

Vitrified tile is a ceramic tile with near no-porosity. Compared to marble and solid stone flooring they are cheaper and more durable. There are four types of Vitrified tiles - Soluble salt, Double charge, Full Body, Glazed. Vitrified tiles are often used outdoors in heavy footfall areas because of their water and frost repellence.