What real estate Jargons should you understand before you invest?


Buying an apartment from the New Affordable Projects In Gurgaon can seem to be daunting. Hence, every house buyer should understand a couple of real estate Jargons before investing. Here are the jargons that you need to understand before opting for Upcoming Affordable Housing Projects.

Built-up Area: You should consider knowing the super built area before investing in the real estate. It should include the carpet area, internal and external wall thickness. It is exclusive in the balcony area. It’s the actual area used by property buyers. When it comes to getting the New Affordable Housing Projects In Gurgaon, consider this one.

Freehold Property: It’s one that offers complete ownership to owners. It’s free from the hold of entity besides owners. The owner enjoys free ownership and uses the land for purposes. The owner only is free to pass on the property of successes sans prior approval.

Real Estate Broker: The broker is the professional working as the intermediary between sellers and buyers.

CIBIL: CIBIL or Credit Information Bureau Limited is the first credit info company of India.

Vaastu Shastra: It’s an ancient Indian science of buildings and architecture that help in making the congenial setting or the place to live and work accordingly. Vaastu combines science, astronomy, art, and astrology. It’s the scientific way of taking the advantage of elements bestowed by Mother Nature with the elements. It helps in enhancing health, prosperity, happiness, wealth.

Real Estate Investment Trust: REIT happens to be the company owning and operating income-generating properties.

Rateable Value: Rateable value happens to be the figure amount. Upon this, the property tax gets charged in India.

Fixed-O-Floaty Interest Rate: It actually refers to the interest rate that gets charged on the home loans. It is absolutely fixed for the certain time period, upon which it absolutely gets converted to the floating interest rate.

RERA – The Real Estate Act, 2016 (RERA) happens to be the Act of Parliament of the country that seeks to protect the house seekers and help in boosting the investments in this real estate universe. The bill got passed by Rajya Sabha on March 10, 2016 and by Lok Sabha on March 15, 2016.

Carpet Area – As far as RERA, the carpet area defines the net floor area usable in the apartment. But it excludes the area covered by external walls, under shafts, verandah or balcony and open terrace area. This area includes areas covered by internal walls (partition) of an apartment.

Thus, when you choose Upcoming Affordable Housing Gurgaon, you must consider these things.