Real Estate Terms Every Homebuyer Should Know in India: A Complete Glossary

Most real estate glossaries are organized like a dictionary: alphabetical, or sorted into neat buckets like “Legal Terms” and “Financial Terms.” That’s tidy for the writer, but it’s not how confusion actually happens to you.

In real life, nobody hands you a glossary. You hear “carpet area” on a phone call with a broker, “bayna” from your uncle who’s been through this before, “escrow” buried in page 14 of an agreement, and “namjari” from a clerk at the registration office who assumes you already know what it means.

So instead of another alphabetical list, this guide walks through real estate terms in India in the order a Kolkata buyer typically hears them: from the first phone call to the day you get your keys. We’ve also added something you won’t find in most English-language glossaries: the Bengali terms locals, brokers and land record offices actually use, since half the confusion in Bengal isn’t the English jargon; it’s the mix of English and Bengali terminology in the same conversation.

Related read: Real Estate Trends 2026 – What’s Changing & What to Expect

Table of Contents

1. Stage 1: The First Call — What Brokers Say Before You’ve Even Seen the Flat
2. Stage 2: Booking the Unit — What You’ll Sign and Pay First
3. Stage 3: The Loan Process — What the Bank Will Ask and Charge
4. Stage 4: The Waiting Period — Construction, Escrow and Regulatory Terms
5. Stage 5: Registration Day — What You’ll Sign at the Sub-Registrar’s Office
6. Stage 6: After You Move In — Ongoing Terms You’ll Keep Hearing
7. The Bengali-English Glossary — Terms Locals Actually Use
8. Decode the Brochure — Real Sentences, Annotated
9. Common Mistakes First-Time Buyers Make
10. Final Checklist Before You Sign
11. FAQs

Stage 1: The First Call — What Brokers Say Before You’ve Even Seen the Flat

This is where most overpayment starts, because these terms decide the number everything else is calculated from.

Carpet Area

The actual usable floor space, where your furniture sits. Excludes walls, balconies and shared spaces. Under RERA, pricing must legally be quoted on carpet area, not the inflated figures below.

Built-Up Area

Carpet area plus wall thickness, your private balcony, and utility ducts. Typically 10 to 15% larger than carpet area.

Super Built-Up Area (SBA)

Built-up area plus your proportionate share of lobbies, lifts, staircases and clubhouse. This is the number brokers quote rates on, and it’s exactly why RERA now mandates carpet-area pricing.

What it costs you if you get this wrong: A buyer in Rajarhat agreed to ₹6,500/sq.ft. on 1,200 sq.ft. SBA. His actual carpet area was 840 sq.ft. His real cost per usable sq.ft. was closer to ₹9,285, a jump he only discovered after checking the RERA carpet area disclosure.

Loading Factor

The percentage added to carpet area to reach SBA. Below 25% is efficient. Above 35 to 40%, ask the developer to justify it in writing.

BSP (Basic Sale Price)

The base price before GST, parking, PLC, floor rise and maintenance corpus. Never mistake this for your final outgo.

FSI / FAR

How much total construction is legally allowed on a plot. A plot of 1,000 sq.ft. with FSI 2.5 permits up to 2,500 sq.ft. of built-up area across all floors, which is why two projects on similarly sized plots can feel completely different in density.

Days on Market (DOM)

How long a listing stays unsold. Short DOM in a locality usually signals demand, long DOM can mean overpricing, useful leverage before you negotiate.

BHK, Studio, Penthouse

BHK (Bedroom, Hall, Kitchen) tells you the layout, not the size, always check carpet area alongside the BHK count. A studio combines bedroom, living area and kitchen in one open space. A penthouse sits on the top floor with larger plates and exclusive amenities.

Stage 2: Booking the Unit — What You’ll Sign and Pay First

Bayna / Token Amount / Earnest Money

A small advance, usually 1 to 5% of the price, showing genuine intent. Adjusted against the final price, but usually forfeited if you back out without valid reason. Always insist on a signed receipt, this is also where the Bengali term Bayna comes in, more on that in Section 7.

Cost Sheet

The real price tag: BSP, GST, stamp duty, registration, PLC, floor rise, parking, legal fees and maintenance corpus, all in one document.

Red flag: No written cost sheet before booking means undisclosed charges later. Hidden costs can add 10 to 15% to what you thought you were paying.

PLC (Preferred Location Charges) & Floor Rise Charges

PLC is a premium for a specific unit’s location or view. Floor rise is a per-floor premium above a base level. Ask whether either is one-time or recurring before you pick a “better” unit.

Circle Rate / Government Guidance Value

The state government’s minimum assessed value for a locality. Stamp duty is charged on whichever is higher, your agreement value or this guidance value, so an artificially low agreement price won’t reduce your duty.

Agreement for Sale

The contract records the price, payment schedule, possession date, and penalties, signed before the final sale deed. It records intent; it does not transfer ownership yet.

Stage 3: The Loan Process — What the Bank Will Ask and Charge

Down Payment

The 10 to 25% you pay from your own funds before the bank finances the rest, separate from stamp duty and registration.

CIBIL Score

Your credit score, generally 300 to 900. Above 750 usually means faster approval and better rates.

Loan-to-Value Ratio (LTV)

The share of the property value a bank will finance, typically capped at 75% for properties above ₹75 lakh.

EMI and Pre-EMI

EMI is your fixed monthly repayment, principal plus interest. Pre-EMI applies during construction; you pay interest only on the amount actually disbursed so far. This can run 2 to 4 years on a long construction timeline, and many buyers underestimate paying this alongside rent elsewhere.

Amortisation

The gradual repayment of principal over your tenure. Every prepayment shortens tenure and cuts total interest, not just your current EMI.

Home Loan Pre-Approval

Conditional approval based on your income and credit score, done before you finalise a unit. Gives you a clear budget and a stronger negotiating position.

Stage 4: The Waiting Period — Construction, Escrow and Regulatory Terms

Under-Construction vs Ready-to-Move

Under-construction is typically 10 to 20% cheaper with flexible payments, but carries delay risk and 5% GST. Ready-to-move gives immediate possession and zero GST, but needs full payment sooner.

GST on property

Property type	GST rate
Under-construction (standard)	5%, no input tax credit
Affordable housing (under ₹45 lakh, under 60 sq.m. carpet area)	1%
Ready-to-move with Occupancy Certificate	0%
Parking (open or covered)	18%

Escrow Account

A regulator-mandated account where a defined share of buyer payments must sit until conditions are met, so funds can’t be diverted to another project. One of RERA’s biggest wins for buyer protection.

RERA and WBRERA

RERA is the central Real Estate (Regulation and Development) Act, 2016. West Bengal’s regulator was originally WBHIRA, but new project, agent and complaint registrations now go through WBRERA. Verify the project’s registration number directly on the WBRERA portal, don’t take the brochure’s word for it.

Commencement Certificate (CC)

Official permission to begin construction.

Red flag: No CC means construction is technically unauthorised. Ask for the CC copy before booking, not after.

Fit-Out Possession

An informal early handover, often 2 to 3 months before formal possession, letting you begin interior work early.

Lock-In Period

A defined period during which you can’t resell, common in affordable-housing schemes.

Stage 5: Registration Day — What You’ll Sign at the Sub-Registrar’s Office

Sale Deed

The final legal document transferring ownership, executed on stamp paper and registered. Once registered, this is your official proof of ownership.

Title Deed

The document establishing current legal ownership. Always trace the ownership chain backwards before buying; gaps are a serious warning sign.

Stamp Duty (West Bengal rates)

Buyer/Zone	Stamp duty	Registration fee
Male buyer, under ₹1 crore, urban/corporation area	6%	1%
Male buyer, above ₹1 crore, urban/corporation area	7%	1%
Female buyer	1% concession on the applicable slab	1%
Rural areas	Roughly 1% lower than urban slabs	1%

Always charged on whichever is higher: your agreement value or the government’s guidance value for that locality.

Indian Stamp Act, 1899

The central law under which stamp duty is levied, with state amendments setting actual rates.

Property Registration

Formally recording ownership with the government, done in West Bengal through the Directorate of Registration & Stamp Revenue via the GRIPS portal.

Encumbrance Certificate (EC)

Confirms a property is free of pending loans, mortgages or disputes. Request an EC covering at least 15 to 20 years. “Nil Encumbrance” is what you want to see.

Power of Attorney (POA) & Mother Deed

POA authorises someone to act on your behalf; common for NRIs (notarised abroad, attested at the Indian embassy). Mother Deed is the original document establishing the very first recorded ownership; your title chain should trace back to it.

Closing Costs

Everything paid at registration: stamp duty, registration fee, legal and documentation charges. Budget roughly 7 to 8% of the agreement value in West Bengal, on top of the property price.

Stage 6: After You Move In — Ongoing Terms You’ll Keep Hearing

Mutation

Updating your name in municipal or land revenue records after registration. This is separate from registration itself; skip it, and your name won’t reflect in property tax records even though you legally own the flat. (Bengal’s term for this, Namjari, is covered in Section 7.)

Occupancy Certificate (OC)

Certifies a completed building is safe and fit to live in. Without an OC, you can’t get utility connections, and banks refuse to finance a resale.

Undivided Share (UDS)

Your proportionate ownership of the land beneath the building. Matters most at resale, and even more at redevelopment, where a higher UDS typically means better compensation.

Common Area & Maintenance Corpus

Shared spaces like lobbies, lifts, gardens, and clubhouses, maintained through funds pooled from all owners.

No Objection Certificate (NOC)

Issued by a relevant authority (society, fire department, pollution board) confirming no objection to a sale, transfer or construction.

The Bengali-English Glossary: Terms You’ll Actually Hear in Kolkata

Most real estate glossaries, including the big national ones, stop at English legal terms. But in West Bengal, half your conversations, with brokers, family, and land record clerks, happen in Bengali, or in a mix of both. Here’s the cross-reference nobody else publishes.

Bengali term	What it literally means	English equivalent	Where you’ll hear it
Bayna (বায়না)	Advance / token promise	Earnest money / token amount	Booking stage, often informal, always insist on a written receipt
Dolil (দলিল)	Deed / document	Sale Deed / Title Deed	Registration day, and constantly in resale conversations
Khatian / Porcha (খতিয়ান / পর্চা)	Record of Rights (RoR)	Title/ownership record	Land verification, resale due diligence, bank loan documentation
Namjari (নামজারি)	Mutation	Updating owner’s name in land records	After registration, at the BLRO office or via Banglarbhumi
Dag Number (দাগ নম্বর)	Plot number	Survey plot identifier	Land record searches, always paired with your Mouza
Mouza (মৌজা)	Revenue village unit	Smallest land administration unit	Every Banglarbhumi search, you’ll need District, Block and Mouza
Khajna (খাজনা)	Land revenue tax	Land revenue payment	Older land transactions, periodic government dues
Dakhal (দখল)	Possession	Physical possession of property	Disputes, resale negotiations, “who actually holds dakhal” is a common due-diligence question

Why this matters: if you’re verifying a resale flat or ancestral land in Kolkata, you will be asked for your Khatian and Dag number long before anyone says “Record of Rights” or “plot identifier.” Knowing both sides of this table means you’re not translating in real time while someone waits for your answer.

Decode the Brochure: Real Sentences, Annotated

Brochures and cost sheets often pack four or five terms into one line. Here’s how to actually read them.

“Price is on SBA basis, subject to PLC and IDC as applicable.” Translation: the rate you were quoted is on super built-up area, not carpet area (ask for the carpet area conversion). PLC (location premium) and IDC (infrastructure development charges) are extra, and will appear on your cost sheet, not in this sentence.

“Possession subject to force majeure and grace period of 6 months from the date of OC.” Translation: the promised date isn’t final. “Force majeure” covers events outside the builder’s control (this clause has been misused, so check what specific events it lists). The 6-month grace period is added on top of the possession date, and only starts counting after the Occupancy Certificate, not the original target date.

“Maintenance corpus to be paid at possession, subject to revision by the association.” Translation: you’ll pay a lump sum maintenance deposit at handover, and it can legally increase later once the residents’ association is formed; this isn’t a one-time fixed number.

Common Mistakes First-Time Buyers Make

1. Comparing rates on super built-up area instead of carpet area, and thinking you got a bargain.
2. Accepting 35 to 40% loading without asking the developer to justify it.
3. Budgeting only for the BSP and getting blindsided by stamp duty, registration, GST and PLC later.
4. Skipping mutation (Namjari) after registration, and finding municipal records still show the previous owner years later.
5. Not verifying the WBRERA registration number independently, and trusting the brochure instead.

Final Checklist Before You Sign

• WBRERA registration number verified independently on the portal
• Commencement Certificate reviewed
• OC status confirmed (for ready-to-move units)
• Carpet area explicitly stated in the agreement, not just SBA
• Complete, itemised cost sheet in hand
• Stamp duty and registration budgeted separately from the property price
• Delay compensation clause included in the agreement
• UDS percentage clearly mentioned
• For resale or ancestral property: Khatian and Dag number cross-checked on Banglarbhumi

Conclusion

Real estate terminology in India isn’t hard because the words are complicated, it’s hard because nobody teaches them to you in the order you’ll actually need them, and in West Bengal, half the conversation happens in a language most English glossaries ignore entirely.

At Sugam Homes, a real estate company in Kolkata, we’re with you from your very first enquiry call to the day you get your keys, and every step in between. That’s what this guide reflects. If anything here still feels unclear, our team is always happy to walk you through it in person.

Frequently Asked Questions

1. What is the difference between carpet area, built-up area and super built-up area?

Carpet area is the usable floor space inside your flat. Built-up area adds wall thickness, balconies and utility ducts. Super built-up area further adds your proportionate share of common spaces like lobbies, lifts and clubhouses.

2. What is Khatian, and how is it different from a Sale Deed (Dolil)?

Khatian (or Porcha) is the Record of Rights showing who officially owns a plot in a given Mouza. A Dolil (deed) is the document that legally transfers ownership from seller to buyer. You need a valid Dolil to eventually update the Khatian in your name.

3. Is WBHIRA still the RERA authority for West Bengal?

WBHIRA was West Bengal’s original regulator, but new project, agent and complaint registrations are now processed through WBRERA. Always verify a project’s current registration on the WBRERA portal before booking.

4. What does Namjari mean, and why does it matter after I’ve already registered my flat?

Namjari is the Bengali term for mutation, updating your name in municipal and land revenue records after registration. Skipping it means property tax and land records may still show the previous owner even though you legally own the property.

5. What is the current stamp duty for buying a flat in Kolkata?

For urban West Bengal properties, male buyers pay 6% stamp duty (7% above ₹1 crore) plus 1% registration. Female buyers get a 1% rebate on the applicable slab.

6. What is the difference between a Commencement Certificate (CC) and an Occupancy Certificate (OC)?

A CC permits construction to legally begin. An OC certifies that a completed building is safe and fit for people to move into.

7. What is UDS and why should I care about it?

Undivided Share is your proportionate ownership of the land beneath your building. It matters most at resale and during any future redevelopment, where a higher UDS typically means better compensation.