Land Terminology in India

As many real estate investors and developers are searching raw land across the country to furnish new residential or commercial construction projects, a specialized array of land terminology in India has been put into practice in order to help all the developers and investors in the Indian real estate industry. First, it is imperative to understand the land terminology in India, and, then, smoothly glide over to the commonly used real estate terminology for the same.

As identified by many real estate professionals operating in India from many years, there are 6 main land terminologies in India, as mentioned below:

• Land Scaping

• Land Resource

• Land Measurements

• Land Degradation

• Land Conversion

• Land Maps

In the following sections, we will provide a brief about all the different land terminologies that are used in India; here they are:

Generally, ‘Landscaping’ refers to any form of activity which changes the noticeable traits of a plot of land. It is the division of architecture which deals with the arrangement of both buildings and land for human enjoyment and use, analysis of land and also creation of artificial constructs.

The capacity of the landscape profession includes site planning, architectural designing, estate development, spatial planning, town/urban planning, and, lastly, historic preservation. It is normally a multi-punitive field including science, mathematics, art, engineering, social sciences, technology, philosophy, history etc. The actions of a professional landscape architect could vary from the development of public parks, wetland recovery of tainted landscapes, including landfills and mines, and so on.

Any kind of measurement usually directs you to develop an item in an accurate way. Likewise, land measurement is a common terminology that is utilized to describe a piece of land in the best possible manner. At present, surveying is assumed to be very essential in the improvement of the human surroundings.

In India, land is measured with the help of many varying units, including acres, hectares, square-feet, square-yard etc.

Land Resource and Land Conversion

Land resource is another terminology used in India that related to land. Being a renewable energy preserve, land is, in itself, connected to a mass of many other elements as accessibility of water, agrarian of the urban and rural economy etc.

Normally, land conversation is nothing but legally converting the land property from one unit to another; for instance, converting an agricultural land property into a commercial property can be regarded as land conversion.

Land Degradation and Land Maps

Land degradation usually refers to a decline in the total quality of water, soil, or vegetation scenario, commonly resulting from human activities. Degradation is also believed to involve alteration in the land cover to less edible species, or an alteration from predominantly perpetual grasses to predominantly yearly grasses.

Land maps are required so as to predict a perfectly fitting architectural design. Maps are used to locate a perfect land to construct your dream home in a location which isn’t deprived of water and natural resources.

Real Estate Terminologies that are used for Land in India

Purchasing a property is an essential part of long term financial planning for almost all families in India. We insinuate to you a glossary of most commonly used real estate terminology for land in India so that these terms won’t sound like Greek and Latin when you are buying any form of property in India.

The most frequently used real estate terminologies for land in India are built-up area, carpet area, super built-up area, efficiency ratio, FSI (Floor Space Index), maintenance charges, market value, stamp duty, sale deed, registration charges, CAM (Common Area Maintenance), cap rate, cash on cash, CPI, full service lease, gross lease, GLA (gross leasable area), Letter of Intent (LOI), mixed use, NOI (Net Operating Income), and percentage lease.

Carpet area basically refers to the actual usable area, while the super-built up includes your land share in the non-livable area like club-house, and jogging tracks; this is the size that builders treat as sellable area, and for which they charge you the total amount as (price per square feet)x(super built-up area). Stamp duty, registration charges, electric and water charges, and legal charges are extra, apart from the basic cost of the property.

Maintenance charges are calculated as total expenses divided by total area of the building, and it usually lies in the range of Rs. 1.4- Rs. 2 per square feet.