Every field has its own lingo, so does the real estate sector and one should be aware of what one wants and what certain terms mean. A novice in real estate market can be perplexed by the complicated estate terminology and in haste take wrong decisions. To take precise decisions one must know the basic terms in real estate business. It may be related to the basic terms and more complex ones that help you choose the best payment plan.
Firstly, you must know the terms related to the property you are investing in, such as-
Carpet Area- As the term suggests the carpet area refers to the area where the carpet can be laid down. So the area which is enclosed between the walls of the office or house and which is the functional area is called the carpet area. [Read more…]