Property Dictionary

Transfer of Properties Act 1882

The Transfer of Property Act 1882 is an Indian legislation which regulates the transfer of property in India. It contains specific provisions regarding what constitutes a transfer and the conditions attached to it.

Immoveable Property

An asset that cannot move from one place to the other�is considered to be an immovable property. In India, real estate is considered to be an immovable property.

Central Business District

Central Business District (CBD) is a commonly used term in commercial real estate to describe an area in the city that contains a high density of commercial, retail and business establishments, as well as government offices. CBDs usually coincide with the city centre and tend to be the central hub for the city�s transportation networks. Nowadays, CBDs have also begun to include entertainment hubs, restaurants, hotels, medical care and residential complexes.

Multi-Modal Logistics Park

Multi-Modal Logistics Park (MMLP) refers to a freight-handling facility encompassing a minimum area of 100 acres (40.5 hectares), with various modes of transport access. It comprises mechanized warehouses, specialized storage solutions such as cold storage, facilities for mechanized material handling and inter-modal transfer container terminals, and bulk and break-bulk cargo terminals. It is a type of Logistics Park where various value-added services are rendered in addition to rail/road-based transportation. The purpose of MMLP is to reduce coordination among different parties during transfer of cargo from one mode to another.

Logistics Park

A logistics park is an industrial area specifically designed for storage, management, distribution and transportation of various goods. These parks are designed to be well connected to major roads and railway stations thereby reducing the cost of goods transport. They are also equipped to host facilities to execute all logistics tasks at significantly lower costs.

Data Centre

A data centre is a physical room, building or facility that houses IT infrastructure for building, running, and delivering applications and services, and for storing and managing the data associated with those applications and services. Data centres have evolved in recent years from privately-owned, tightly-controlled on-premises facilities housing traditional IT infrastructure for the exclusive use of one company, to remote facilities or networks of facilities owned by cloud service providers housing virtualized IT infrastructure for the shared use of multiple companies and customers.

Global Capability Centres (GCCs)

Global Capability Centres (GCCs), also known as global in-house centres or captives (GICs), are offshore centres established by firms to provide various services to their parent organisations. These centres operate as internal organisations within the global corporate structure, providing specialised capabilities such as IT services, research and development, customer support, and other business tasks. GCCs and GICs are critical in leveraging cost efficiencies, accessing talent pools, and encouraging collaboration between parent businesses and their offshore affiliates.

Construction Linked Payment Plans

A Construction-linked Plan (CLP) is a flexible payment method for under construction flats. The buyer initially pays a predetermined down payment, after which all subsequent pre-determined payments are made in instalments that are linked to the progress of construction.

PLC/ Floor Rise

Preferential location charge is a premium charged for superior features in a flat. These features can include but are not limited to sea views, park views, higher floors, corner flats, terrace access flats, etc. PLC charges can be calculated on a square foot basis or a slab rate.

Expression of Interest (EOI) Cheque

An Expression of Interest (EOI) cheque, also known as an Earnest Money Deposit or Good Faith Deposit, is a sum of money a buyer pays a seller to express a genuine interest and commitment towards purchasing a particular property. It is usually made after both parties are in agreement on the general terms of sale but before any formal signing of an agreement takes place.