DTCP - Directorate of Town and Country Planning (Tamil Nadu Town and Country Planning Act, 1971).
CMDA - Chennai Metropolitan Development Authority. Was constituted as an ad-hoc body in 1972 and became a statutory body in 1974.
Sale Deed - A legal document that is used during a property transaction as an evidence of sale and transfer of ownership of a property from a seller to the buyer.
Agreement - A purchase agreement is a binding contract between a buyer and seller that outlines the details of a home sale transaction which will be done before sale deed.
FSI - Floor a Space Index is the maximum permissible floor area that a builder can build on a particular plot / piece of land.
Building Permit - An official document that gives you permission to build on land or to make changes to a building: Commercial and residential building permits are issued by the county building inspector.
Completion Certificate - A completion certificate is a document that is awarded, after the inspection of a real estate project, stating that it has been constructed according to the approved building plan and that it meets all the necessary standards set by the local development authority or Municipal Corporation.
EC - An Encumbrance Certificate - or EC is a certificate of assurance that the property in question is free from any legal or monetary liability such as a mortgage or an uncleared loan and crucial document used as evidence of free title/possession of a property.
Patta/Chitta - Patta is a legal document issued by the Government in the name of the actual owner of a particular plot of land. It can also be issued for lands having buildings or individual houses | Chitta contains details about the area, size, and ownership of the property. Since 2015, both records have been merged into a single document called Patta Chitta. Maintained by the Village Administrative Officer (VAO) and the Taluk office.
Plot Area - The area of the plot commonly referred to as the site area is the land surrounded by certain boundaries (fence). Simply put, the total area you own in a city or town is called plot area.
Build up Area - The total area of the building in the area of the plot (plot area) is called the built-up area. Living room, Bedrooms, hall, balcony, bathroom, kitchen, utility area, shafts, staircase, verandah, terrace and wall thickness. Built up area is Thickness of All walls + Carpet area + balcony.
Carpet Area - The carpet area is the actual area covered by a carpet or the area excluding the thickness of the interior walls of the built area. Carpet area is Built-up Area - Area of walls.
Set Back Area - The setback area is empty space around the building (2ft/3ft around building)
The super-built-up area is the built-up area and the proportional area of common areas such as Swimming pools, Stairs, Elevators, Open porches, Lobby. The term super-built-up area is commonly used in real estate (when buying a property), as builders can add 15 to 20% of the total cost of the apartment to the super-built-up area.
UDS - Undivided Share of Land (Common area).
OSR - Open Space Reserve – place reserved for development and also left as open space.
Gated Community - Closed by the large compound and secured. A main point of GC is Increased Safety for Residents.
Township - An integrated township is a mixed-use project comprising of residential and commercial structures, with all basic infrastructure and amenities like educational institutes, healthcare centers, retail outlets, etc.
Individual / Independent - Individual house/villa means which shares a common area with other owners , whereas Independent house/villa means it opens directly a street and doesn't share a wall with another house.
Guideline value is provided by the government. periodically (yearly generally). Guideline values are particularly of an area or locality, stamp duty is levied on that value. It's the job of the state revenue department.
Market value is determined by market development. Market value of individual units may vary depending upon condition and location of property but guideline values are the same for all units in the same locality.
Maintenance Charges are the cost of living which is apart from stamp duty and registration cost and these maintenance charges are calculated mainly based on the area of property and quality of maintenance.