These are short working definitions for the developer’s office. Contract wording and statutory meanings may be more specific.
40 terms
- Allottee
- A person to whom a property is allotted or sold, subject to the applicable agreement and law.
- APF
- Approved Project Finance: a lender’s project approval record used in home-loan processing.
- Appropriation
- Applying a receipt or advance to specific outstanding charge lines.
- Audit trail
- A history of recorded changes, including who made them and when.
- Benefit plan
- The rules and schedule for amounts payable to a member or other stakeholder.
- Bill-wise ledger
- A party balance broken down into individual bills and settlements.
- Booking
- The approved record connecting the buyer, unit, price and payment schedule.
- Bounce
- A payment failure that requires the related clearing and accounting effects to be reversed.
- Channel partner
- An intermediary whose attributed booking may create an agreed commission.
- Cleared receipt
- A recorded payment whose bank clearance has been confirmed.
- Collection account
- The designated account receiving eligible buyer collections under an applicable account structure.
- Compounding escalation
- An increase calculated on the previous period’s amount.
- Construction-linked plan
- A payment schedule tied to agreed construction milestones.
- Corpus
- An agreed benefit payable in a redevelopment arrangement, recorded distinctly from rent.
- Cost centre
- A project, tower or other unit used to analyse income and costs.
- Demand
- A request for payment against an installment or other charge.
- Demand run
- A reviewed batch of demands raised for eligible installments.
- Differential area
- Additional area purchased beyond an agreed entitlement.
- Due-but-unbilled
- An installment that is due under its schedule but has not yet been demanded.
- Entitlement
- The area, property or other benefit promised under the stakeholder’s agreement.
- Estimate
- A proposed cost sheet and payment plan prepared before booking.
- Fixed escalation
- An increase calculated from an agreed fixed base rather than the previous period’s amount.
- Form 3
- The CA’s certificate in the applicable MahaRERA format, supported by costs and accounting records.
- Hold
- A time-limited reservation of inventory while an estimate is under consideration.
- KYC
- Know Your Customer: identity and other documentation checked for a party.
- Maker-checker
- A control that separates preparing an action from approving it.
- PAAA
- Permanent Alternate Accommodation Agreement, used in relevant redevelopment arrangements.
- Parking slot
- An identified parking allocation attached to the relevant unit or agreement.
- Payout run
- An approved batch of benefits, commissions or refunds prepared for payment.
- Period lock
- A control limiting changes to accounting records in a closed period.
- Product pack
- A set of project-specific capabilities enabled for an organisation.
- Promoter entity
- The legal entity responsible for the relevant development and its books.
- QPR
- Quarterly Progress Report, prepared under the applicable regulator’s requirements.
- Revenue recognition
- The accounting policy governing when revenue is recorded.
- Separate account
- The designated project account used under applicable RERA fund-use rules.
- Snag list
- Recorded defects or unfinished items to resolve around handover.
- Sweep
- A bank movement between designated accounts, with corresponding ledger entries.
- TDS
- Tax deducted at source, tracked separately from cash received in the bank.
- Transit rent
- Rent support payable during temporary displacement under an agreed redevelopment arrangement.
- UTR
- Unique Transaction Reference used to identify a bank transfer.
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