Important real estate related terminologies

Registration charges: These are the fees associated with getting the legal title registered in your name. This is done at the sub-registrar’s office.
Stamp duty:
Real estate stamp duty is a tax, like sales tax, collected by the State Government. Stamp duty is based on the market value or the agreement value whichever is greater.
Agreement of sale: A document the buyer initiates and the seller approves that details the price and terms of the transaction.
Sale deed: Sale deed is the process by which the seller transfers all the rights on property to the buyer.
Built-up area: It refers to the entire floor area including carpet area, walls, lobbies and corridors, atrium areas and basement.
Carpet area: It is the actual usable area within the walls of the floor.
FSI: FSI stands for Floor Space Index, which is the quotient of the ratio of the combined gross floor area of all floors (except areas specifically exempted under these regulation) to the total area of the plot.
CPI: The Consumer Price Index is used to calculate
the annual rental increase so as to compensate for inflation.

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