Real Estate Glossary & Knowledge Base

Brokerage is the fee charged by a real estate agent or platform for facilitating a property transaction. In India, brokerage is typically 1-2% of the sale price for buying/selling and 1-2 months rent for rentals. At 360Ghar, brokerage is charged only when a deal closes — no upfront fees.

Carpet area is the actual usable floor space inside your apartment — the area you can cover with a carpet. Super built-up area adds walls, balconies, and a proportionate share of common areas (lobby, lift, club). In Gurugram, loading is typically 25-35%, so a 1,500 sq ft super area flat has about 1,050 sq ft carpet area.

Circle rate (also called collector rate or guidance value) is the minimum property price set by the state government for registration purposes. In Gurugram, circle rates vary by sector and property type. Stamp duty is calculated on the higher of circle rate or actual transaction price.

CLU is the government permission to change land from agricultural to commercial or residential use. Without CLU, construction on agricultural land is illegal. CLU is granted by DTCP (Directorate of Town and Country Planning) in Haryana and significantly affects property value.

EMI (Equated Monthly Installment) is the fixed monthly payment you make to repay a home loan. It is calculated using the formula: EMI = [P × R × (1+R)^N] / [(1+R)^N - 1], where P = principal, R = monthly interest rate, N = tenure in months. Use 360Ghar's free EMI calculator to plan your payments.

Under FEMA, NRIs and OCIs can buy residential and commercial property in India without RBI permission. They cannot buy agricultural land, farmhouses, or plantations. Repatriation of sale proceeds is allowed up to 2 residential properties. NRO account is mandatory for property transactions.

Jamabandi is the Haryana government's land records register that records ownership, cultivation rights, and revenue details. You can verify ownership online at the Haryana Jamabandi portal by selecting district, tehsil, village, and khasra number. 360Ghar provides a free ownership verification tool.

Loading factor is the percentage difference between super built-up area and carpet area. If a builder quotes 1,500 sq ft super area with 30% loading, the actual carpet area is about 1,050 sq ft. RERA mandates that builders disclose carpet area, but many markets still quote super built-up area.

A Power of Attorney (PoA) allows an NRI to authorize someone in India to execute property transactions on their behalf. It must be notarized and attested by the Indian consulate. A specific PoA for property purchase is safer than a general PoA. NRIs commonly use PoA to sign sale deeds without traveling to India.

RERA (Real Estate Regulatory Authority) is a government body established under the Real Estate (Regulation and Development) Act, 2016. It mandates project registration, enforces timely delivery, requires escrow accounts for buyer funds (70% of collections), and provides a complaint resolution mechanism. In Haryana, check RERA registration at HRERA website.

Stamp duty is a government tax on property transactions, paid by the buyer. In Haryana: 7% for male buyers, 5% for female buyers, 6% for joint ownership. Registration fee is an additional 1%. Stamp duty is calculated on the higher of circle rate or actual sale price. Use 360Ghar's stamp duty calculator for instant estimates.

TDS (Tax Deducted at Source) on property sale is 1% for resident sellers and 20% (+ surcharge + cess) for NRI sellers. The buyer must deduct TDS and deposit it with the government within 30 days. For properties above ₹50 lakh, 1% TDS is mandatory regardless of seller type. Form 26QB is filed for resident sellers, Form 27Q for NRI sellers.

A 360° virtual tour is an immersive digital walkthrough of a property that lets you explore every room from your phone or computer. On 360Ghar, every verified listing includes a virtual tour so you can shortlist properties without visiting in person — especially useful for NRIs, busy professionals, and those exploring multiple localities.

360Ghar physically verifies every listing before it goes live. Our on-site team visits the property, confirms ownership documents, captures authentic photos and 360° virtual tours, validates the exact location, and checks amenities. This eliminates fake listings, outdated inventory, and misleading descriptions that plague unverified portals.

Zero upfront brokerage means you don't pay any fees until a deal is successfully completed. Unlike many platforms that charge listing fees or subscription costs upfront, 360Ghar only charges standard market brokerage after a transaction closes. This aligns our incentives with yours — we succeed when you find the right property.

Under RERA, builders must deposit 70% of buyer collections into a separate escrow account. This money can only be withdrawn for construction and land costs, preventing diversion of funds to other projects. This protects buyers from the common problem of builders launching new projects instead of completing existing ones.

A sale deed is the primary legal document that transfers property ownership from seller to buyer. It must be executed on non-judicial stamp paper, registered at the sub-registrar office, and is the most critical document in any property transaction. Without a registered sale deed, ownership transfer is not legally valid.

An encumbrance certificate (EC) certifies that a property is free from any monetary or legal liabilities — mortgages, liens, or pending litigation. It is issued by the sub-registrar and covers a specified period (typically 13-30 years). Banks require an EC before approving home loans. Always verify EC before buying any property.

An occupancy certificate is issued by the local authority (MCG in Gurgaon) certifying that a building is complete and fit for occupation. It confirms compliance with approved plans, fire safety, and building codes. Buying in a project without OC is risky — you may face utility disconnections and cannot legally occupy the premises.

A ready-to-move property is one that has received its occupancy certificate and is available for immediate possession. The advantage over under-construction: you can physically inspect the property, get immediate possession, and avoid construction delays. 360Ghar's 360° virtual tours let you inspect ready-to-move properties remotely.