Real estate is a dynamic and a vibrant industry. We can all agree with the fact that not only do the professionals working within the bounds of the industry should have knowledge of some of the fundamental real estate terms, but every individual in general should be well aware and equipped. This is because at some point in our lives we all come across these terms because let’s face it- real estate is an inevitable prospect! Hence, Hallmark is back with the handy set of 5 important terminologies that are frequently used in the real estate industry. So, if you are a prospective buyer, an intuitive investor or a real estate enthusiast, this article is the one for you.
Absolute Title is a legal document that signifies that the property owned is free from any kind of encumbrances or deficiencies. This document gives unequivocal ownership to the respective owner, which cannot be challenged by any other party. It is also called as the perfect title or clear title.
Agreement To Sell abbreviated as ATS is a legal agreement between the seller and the buyer of a particular property that includes the details of price and the terms of the transaction respectively. It is not similar to a Sale Deed or a Conveyance Deed. It is rather a basic document, post which a Sale deed is drafted. It is also called an Agreement for Sale.
An allotment letter is issued by a builder or a developer that signifies the allotment of a particular unit of a project or a plot in an under construction or an under development project. It includes all the details of that particular plot or unit, the agreed payment options, construction schedule, delivery date, any extra charges that the buyer will have to pay in case of additional facilities or maintenance and other booking terms.
This is a legal term that implies any kind of violation of the agreed upon terms and conditions in a binding contract. It could either be a serious violation like failure to deliver the promised asset or as simple as late payment. This has legal implications accordingly.
Basic Sales Price abbreviated as BSP is the value that is arrived at by multiplying the basic per square feet rate with the total square feet area of the property. This and additional charges like parking, locational charges, registration fee etc accounts to the final price of the property.
Well, that was your today’s daily fix of real estate information.
We at Hallmark Builders have built our brand for over 13 years. The foundation of our brand is trustworthiness, creativity and assured quality. Our projects across Hyderabad like Hallmark Treasor, Hallmark Sunnyside, Hallmark Skyrena, Hallmark Oakshire and Hallmark Pinnacle are the very testament of the trust that our customers invest in us.
To know more about our residential projects, visit our website www.hallmarkbuilders.in or contact us and we will guide you further.
We are yet to get our flat, but as of now overall construction is going on as the way they promised. Coming to sales teams,Thanks to Rohith, we have got every support we wanted. He is very friendly and well mannered. It has been a very good experience with Rohith and Hallmark ...till now ... We expect the same in future too.
Hallmark is the brand well known for their excellency in building high quality projects with great architecture and delivery on-time. Hallmark Treasor is one of the best luxurious high-rise residential projects strategetically located in Kokapet area with pretty good connectivity to IT corridor, ORR, international schools, multi-speciality holspitals, and malls. Project has great aminities that suits to all your family needs. With lot of research and dreams to buys our future nest, we finally selected Hallmark Treasor as our best match and booked the flat. We are super happy with the kind of support that we got from staff (expecially Mohammed Irfan) who helped us in explaining every detail about project, answered all our questions patiently, and closed the deal with best price in the market. Thanks to Hallmark and looking forward to see ourself in our future nest.
In this locality of Narsingi this si the best project, the kind of build quality or the materials that they are using is really good, from a landscape standpoint it's very spacious. The seem very promising to handover by Dec. Besides this the entire process of finalizing this project has been seemless with help of sales team . Speacial thanks to Venkat and Pramod who has advisors as well.
I am one of the owner and i can tell you the quality they are giving is very good, it’s located near to new orr exit which is very useful and in future we are expecting metro station as well in narsingi. Near by you will get everything. CRM team Nagarjuna and Nitish are helpful from there end and from sales team Venkat and Pramod were helpful during purchase. I liked the floor tiles they used. Even bathroom fittings are very good. Little bit disappointed with the deadline of the project.
I am sharing my experience with HallMark builders. They are the premium builders in hyderabad. I went for site visit and the way they explained about the property has resolved all my doubts regarding the property. They have helped my all queries regarding the construction, developement, etc. They have good construction quality, on time delivery, good customer queries response, very nice amenities. Overall one can be very much satisfied when comparing to other builders.
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