Common real estate terms used in Tamil Nadu markete

In the Tamil Nadu real estate market, several terms are commonly used, and having a good grasp of them can enhance your understanding and facilitate smoother transactions. Here are key terms used in Tamil Nadu real estate:

1. Patta: Signifies the legal ownership of a piece of land.

2. Chitta: A document containing details about the land, including its size and ownership.

3. EC (Encumbrance Certificate): This certificate validates that the property is free from legal and monetary encumbrances.

DTCP (Directorate of Town and Country Planning): 4. Approval from this department ensures a property complies with planning and development regulations.

5. FAR (Floor Area Ratio): Represents the ratio of a building's total floor area to the size of the land it is constructed on.

6. CMDA (Chennai Metropolitan Development Authority): Responsible for planning and development within the Chennai metropolitan area.

7. Guideline Value: The government'''s fixed property value in a specific area, used for calculating stamp duty and registration charges.

8. Sale Deed: A legal document transferring ownership of a property from the seller to the buyer.

9. Power of Attorney (POA): A legal document granting someone the authority to act on behalf of the property owner.

10. EB (Electricity Board): The authority responsible for electricity supply, relevant when considering electrical connections for a property. 11. FMB (Field Measurement Book): Contains detailed land records and measurements, aiding in property verification.

12. Panchayat Approval: Required for properties in rural areas, indicating approval from the local village council for construction.

13. NIL Encumbrance Certificate: Certifies that the property has no encumbrances during a specific period.

14. Blue Print (Plan Approval): The sanctioned plan for construction provided by local authorities.

15. Udhyog Aadhar: Required for commercial properties, this registration offers certain benefits and subsidies.

16. CCR (Common Construction Rules): Guidelines specifying permissible construction norms in a given area.

17. Redevelopment: The process of demolishing and rebuilding existing structures for better land utilization.

18. Conveyance Deed: A legal document transferring the title of a property from the developer to the association or individual owner.

19. Premium FSI: Additional Floor Space Index allowed by local authorities for a fee, enabling more construction on the same plot.

20. Mutation of Property: The process of updating land revenue records to reflect changes in ownership due to buying or selling.

These terms are crucial for navigating real estate complexities in Tamil Nadu, and understanding them will be beneficial when engaging in property