224+ property terms explained — national RERA terminology, regional land records (Fard, Jamabandi, 7/12, Patta), property documents, financial terms, and state-specific real estate vocabulary.
Originally the 'Red Cord' boundary demarcating village settlements (abadi). Areas within Lal Dora were historically exempt from building bylaws and urban development regulations. Now a major source of property litigation in Delhi, NCR, and Punjab. Buyers must exercise extreme caution with Lal Dora property.
Official change in the designated use of land — from agricultural to residential, or residential to commercial. Requires approval from competent authority. Known as CLU (Change of Land Use) in Haryana/Punjab.
Legal document recording a lease of property for a defined period. Must be registered if period exceeds 12 months. Creates a leasehold interest (different from freehold ownership).
Arrangement under Maharashtra Rent Control Act where owner grants licensee the right to use property without creating tenancy. Used extensively in Mumbai. Typically 11 months, renewable.
Official document issued by competent authority (tehsildar/court) certifying the legal heirs of a deceased person. Required for property succession.
Person who takes a property on lease — the tenant in a formal lease arrangement.
Person who grants a lease — the property owner in a formal lease arrangement.
Financial obligation attached to a property — unpaid mortgage, outstanding dues, pending litigation. Must be cleared before sale. Buyers should obtain No Dues Certificate from developer.
Chain of title documents connecting the current seller's ownership back through previous transactions. A complete, unbroken chain of title is essential for due diligence.
Verification of whether a property is subject to any court case, dispute, or legal proceeding. Essential due diligence — checked at local civil court records.
Secured loan where an existing property is mortgaged as collateral. Different from home loan — used for business or personal needs, not property purchase. Typically 60–70% LTV.
The ratio of loan amount to property value. RBI regulates maximum LTV: up to 90% for loans below ₹30 lakh; up to 80% for ₹30–75 lakh; up to 75% for above ₹75 lakh.
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