Polity and Law

What is the meaning of Completion Guarantee?

A Completion Guarantee is given by the guarantor to the financier of the film which protects him/her from any financial turbulence which leads to increase in costs and thereby overall financing requirements. It involves a bond which states that the film will be completed in the slated time within the schedule which has been agreed […]

What is the meaning of Certificate of Occupancy?

Certificate of Occupancy is a vital document which ensures that the construction of the building has been done as per the permitted plan and local laws. The document is issued by the Municipal Corporation of the area after it makes sure that all the laws have been duly followed. It has to be obtained by […]

What is the meaning of Carpet Area?

Carpet Area as the name suggests stands for the area where one can spread a carpet. The (RERA) Real Estate ( Regulation and Development) Act, 2016 it is defined as the ‘net usable floor area of an apartment excluding area covered by external walls, under service shafts, balcony or verandah, terrace etc. However, the internal […]

What is an Agreement of Sale?

An Agreement of Sale comprises various terms and conditions like the amount at which property will be sold and future date of payment for the sale of the property by the seller. It is a critical document in the transaction and enables smooth flow of the sale deal. The terms and conditions as defined and […]