Real estate terms

Here’s a short list of common real estate abbreviations & terms in India (including the ones you mentioned):

  • GAT – Government Authorized Transfer (land ownership record in Maharashtra)
  • LC – Land Conversion (agricultural → non-agricultural use)
  • FSI – Floor Space Index (ratio of built-up area to plot size)
  • FAR – Floor Area Ratio (same as FSI, used interchangeably)
  • RERA – Real Estate Regulatory Authority (regulation & compliance body)
  • CC – Completion Certificate (issued after project completion)
  • OC – Occupancy Certificate (legal approval for possession)
  • MoU – Memorandum of Understanding (agreement between buyer & seller)
  • PoA – Power of Attorney (authority to act on behalf of property owner)
  • LOI – Letter of Intent (preliminary agreement before final deal)
  • DP – Development Plan (city/town planning map)
  • EC – Encumbrance Certificate (proof of clear title, no legal dues)
  • Freehold – Ownership of land & property with full rights, transferable
  • Leasehold – Ownership for fixed period (e.g., 99 years), reverts to lessor
  • Land Parcel – Plot/tract of land available for sale or development
  • Stamp Duty – Govt. tax paid on property transactions
  • Circle Rate – Minimum property rate fixed by govt. for registration

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