Real Estate Terms [20]

Aug 31, 2011     Posted under: Investment

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Consumer Price Index (CPI): CPI is the measure of the level of inflation. It measures the change in the cost of basic goods and services like housing, electricity, food, transportation, etc. in comparison with a fixed base period. Also called cost-of-living index

Contract For Sale: An agreement whereby the seller (vendor) agrees to transfer an interest in land to a purchaser for a consideration. The agreement is effected by the exchange of copies of the agreement document between the parties. Rights to possession are not conferred upon the purchaser until the purchase is completed but the purchaser has an insurable interest in the property from exchange of contracts. A non-returnable deposit is usually paid by the purchaser on exchange

Contraction Rights: A collective name of any clause in a lease allowing a tenant to reduce the leased space either temporarily or permanently (eg sub-lease, surrender, etc)

Contractor’s overhead: Overhead expenses like cost office, interest costs, etc, that a contractor has to incur

Contractor’s Profit: The selling price of a property, excluding input costs like land, labour, materials, interest on loans and overheads

Convenience Store: Small centrally located store featuring ease of access, late-night hours and a limited line of merchandise designed for the convenience shopper. They typically sells staple groceries, snacks and day-to-day use items

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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