Real Estate Terms [3]

Apr 16, 2011     Posted under: Investment

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Atrium Space: In modern architecture, an atrium (plural atria) is a large open space, often several storey’s high with a glazed roof and/or large windows, often situated within an office building or mall; usually located immediately beyond the main entrance doors.

Average Room Rate(Per Occupied Room): Hotel room tariffs vary depending on the season,  events etc., When a hotelier wishes to find out if he is above or below the rack rate (fixed room price), he calculates the average price of a room by dividing the total turnover of rooms by the total number of rooms occupied.

Balloon Payment: A repayment of a loan or bond, usually but not necessarily the final repayment, which is larger in amount than the preceding or earlier installments. This kind of arrangement is referred to as “ballooning” a loan.

Bank Guarantee (Performance Guarantee): A secured promissory note provided by a financial institution on behalf of a contractor or party as a guarantee of their performance, often used in lieu of retention.

Bare Shell: Bare shell comprises a base building with provision for basic flooring, all exterior windows, roofing works, common areas, lift lobbies, toilets, service and passenger lifts and any other shell works related to the building.

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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