Commercial, Residential, Rental Properties in India
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Real Estate Glossary
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M Terms :
Manhole
An opening which permits access to the space between the roof and the ceiling, or below the floor.
Market study
A forecast of future demand for a certain type of real estate project that includes an estimate of the square footage that can be absorbed and the rents that can be charged. Also called Marketability Study.
Market Value
The price at which a seller is happy to sell and a buyer is willing to buy. This assumes that there is sufficient activity in the marketplace to generate enough buyers and sellers so that neither party controls the price.
Metes and Bounds
The boundary lines of land, with their terminal points and angles, described by listing the compass directions and distances of the boundaries. Originally, metes referred to distance and bounds referred to direction.
Mid-Rise
A building with between four and eight stories above ground level although in a Central Business District, this might extend to buildings up to twenty-five stories.
Mixed-Use
Space within a building or project providing for more than one use (i.e., a loft or apartment project with retail, an apartment building with office space, an office building with retail space).
Mortgage
A written instrument creating an interest in real estate and that provides security for the performance of a duty or the payment of a debt. The borrower (i.e., mortgagor) retains possession and use of the property.
Mortgage Discharge Fee
A fee charged by some lending institutions for finalising a loan.
Mortgage Insurance
A policy that insures the lender against the borrower defaulting on a loan. Most lenders generally require insurance when borrowing more than 80% of the property value.
Mortgage Offset
A non-interest earning account that is offset against a home loan to reduce the total interest payable.
Mortgagee
The lender in a mortgage agreement.
Mortgagor
The borrower in a mortgage agreement.


 


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