Real Estate Terms [16]

Jul 16, 2011     Posted under: Investment

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City Municipal Corporation: A government body which provides civic services to the citizens in the city. These bodies also provide services to rural and urban villages which might include resettlement colonies, regularizing unauthorized colonies, squatter settlements and slums

Claim: It’s a demand for some action or right

Claw-Back: A lawful recovery of a part of the whole of a payment which was previously due. The term is specifically used in relation to tax – originally as “the clawing back” by a taxpayer of some element of tax paid by him which proved to be excessive or on other grounds recoverable; more recently it tends to be “clawing back” by the tax authority of some element of payment previously made to a taxpayer by way of tax relief

Clear Height: The vertical dimension from the finished floor level to the lowest underside point of the false ceiling

Clear Title: Unencumbered title to real property, against which there are no claims, mortgages, voluntary liens, etc.

NitiN Kumar Jain

Nitin works in an IT MNC professionally but blogs and owns NKJ Live. He is also the co-owner of a professional start-up ARGHAM BYTES

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