Glossary of Indian real estate and deal terms.
Plain-language definitions of the Indian real estate, healthcare and hospitality terms that come up in off-market deals, from change of land use and shop-cum-office plots to NCNDAs and RevPAR.
Terms, A to Z.
28 terms used across Asia Investors Society, in plain language. Where a term has a defined meaning on the AIS Platform, the definition says so. See the platform framework for how they are used.
- AIS Asset Key
- A permanent identifier assigned to every asset in the AIS Mandate Registry, so every deal on the same asset attaches to one history.
- AIS Deal Score
- A modular, confidence-weighted score for every deal: a Common Core (50%) plus an asset-class module (50%), each parameter scored 1 to 10, adjusted for data confidence and locked before matching.
- ALOS
- Average length of stay, a hospital operating metric.
- ARPOB
- Average revenue per occupied bed, a hospital operating metric.
- CLU
- Change of land use: government permission to use land for a purpose other than the one it is currently classified for.
- DTCP
- The Directorate of Town and Country Planning in Haryana, which grants licences for developing land.
- EDC / IDC
- External and internal development charges payable to the state on licensed land in Haryana.
- EV
- Enterprise value: the value of a business or asset including its debt, net of cash.
- Family office
- A private firm that manages the investments and wealth of one or more wealthy families.
- FAR
- Floor area ratio: total permitted built-up area divided by plot area.
- GOP
- Gross operating profit, a hotel profitability measure.
- IC memo
- Investment committee memo: the document that sets out the thesis, asset, financials, risks and open diligence items for a deal.
- JV
- Joint venture: two or more parties combining capital, land or expertise to carry out a project and share its outcome.
- KYC / AML / PEP
- Know your customer, anti-money-laundering and politically exposed person checks on counterparties.
- LOI
- Letter of intent: a document that sets out the main commercial terms a buyer proposes before detailed diligence and final agreements.
- Mandate
- A written authority from an owner or principal to sell, lease or find a partner for an asset.
- MCA
- The Ministry of Corporate Affairs, whose filings show company directors, ownership and registered charges.
- NCNDA
- Non-circumvention and non-disclosure agreement: stops parties bypassing the intermediary and keeps shared information confidential.
- Off-market mandate
- An authority to sell, lease or find a partner for a property that is not publicly listed.
- PMC
- Project management consultancy: owner-side management of design, procurement, execution and handover.
- Principal-to-principal
- A transaction in which the owner and the investor deal with each other directly, with the intermediary making the introduction and not holding funds.
- RERA
- The Real Estate (Regulation and Development) Act, 2016, and the state authorities that register projects and promoters under it.
- RevPAR
- Revenue per available room, a hotel revenue measure.
- SCO
- Shop-cum-office: a commercial plot category combining retail and office use.
- TDR
- Transferable development rights: rights to build floor area that can be transferred from one parcel to another.
- Ticket size
- The amount of capital an investor commits to a single deal.
- TOD
- Transit-oriented development: higher-density zoning near mass transit.
- UHNI
- Ultra-high-net-worth individual.