Frequently Asked Questions

Glossaries & Abbreviations:

BSP

Basic sale price is the basic price of the property. This cost does not include other charges like EDC/IDC/IFMS/EEC/PLC/Club membership and car parking.

PSF

Per Square Feet.

Development Charges

Developers have to pay these charges to the government for civic amenities such as roads, water/electricity supply, sewerage and drainage. The development charges are fixed by the local authorities and are passed on to buyers in proportion to the built-up area of their properties.

PLC or Preferential Location Charge

Is the extra charge paid to a unit which has a better location within a particular layout or complex.

IFMS (Interest Free Maintenance Security)

One time charge levied by developer to maintain the society. This is a common pool of funds which works as a maintenance charge.

EEC and FFC

EEC is external electrification charge and FFC is fire fighting charge and these are levied for obvious reasons.

CAM

Common Area Maintenance which includes hallways, pathways and utilities. CAM fees is accumulated by the landlord from tenants to cover maintenance.

FAR or Floor Area Ratio

The maximum amount of construction allowed on a given plot of land. This is purely dependent on the plot area and would vary from one locality to another based on different factors.

Sale Deed

Sale Deed provides the buyer an absolute and undisputed ownership of the property.

Built Up Area:

Built-up area denotes to the entire area of the floor including carpet area, walls, lobbies/corridors, atrium areas and basement.

Carpet Area

The actual usable area within the walls of the unit is Carpet area.

Super Built Up Area

Super built-up area includes common amenities, such as the area of lift shafts, lobby, and corridor, proportionately divided among all flats. The common usable areas, such as a swimming pool, garden and clubhouse may also be included in it.

While purchasing property in India, the NRI needs to be aware of the market trends of property rates in that area, check all documents related to the property, check for approved layout plan, all clearances from municipality & electricity etc, check the building bye-laws in that area to find out violations if any and confirm whether all the charges and taxes have been duly paid or not.