Buyer's Reference

Gurgaon Property Glossary

Plain-English definitions of the 14 terms you'll encounter most often when buying a luxury home in Gurgaon — written by your property consultant, not a lawyer.

RERA

Real Estate Regulatory Authority — a state body that registers every residential project before it can be marketed.

RERA (the Real Estate (Regulation and Development) Act, 2016) created a state-level regulator that registers and supervises every residential project. In Haryana, that body is Haryana RERA (haryanarera.gov.in). A RERA-registered project has a published carpet-area definition, a committed possession date, and ring-fenced buyer funds. Curated Homes lists only RERA-registered projects.

Carpet Area

The net usable floor area inside the walls of your apartment — the only area definition RERA recognises.

Carpet area is the floor area you can actually lay a carpet on — wall-to-wall internal area, excluding the thickness of external walls but including internal partitions. Under RERA, prices and floor plans must be expressed in carpet area. It's typically 65–75% of the super built-up area.

Super Built-Up Area

Carpet area plus a share of common amenities (lobby, lift, club, corridors). Used historically; no longer the legal basis under RERA.

Super built-up area = carpet area + walls + a proportionate share of common spaces (lobbies, staircases, lifts, club, generator room, etc.). Builders sold homes per super built-up sq.ft. before RERA. RERA has made carpet area the legal pricing basis, but builders still quote super built-up area informally.

Channel Partner

An advisor formally authorised by a builder to sell their inventory at the same price the builder charges direct.

A channel partner is a property consultant who has signed an authorisation with the developer to market and sell their inventory. The buyer pays the same price as buying directly from the builder — the developer compensates the channel partner. Curated Homes is a channel partner to every major Gurgaon developer, so buyers get full inventory access without paying brokerage on original bookings.

Original Booking

Buying a unit straight from the builder during the first launch or active sale phase. Zero brokerage to the buyer when bought through a channel partner.

An original booking (also called a 'first sale' or 'fresh booking') is when you book a unit directly from the developer — at launch, during pre-launch, or during the regular sale phase. Through a channel partner like Curated Homes, original bookings carry zero brokerage to the buyer; the developer compensates us.

Resale

Buying a unit from its current owner (allottee) rather than from the builder. Brokerage applies.

A resale transaction is a sale between the existing allottee and a new buyer, not from the developer. Curated Homes charges a flat 1% brokerage on resale properties (we do not earn channel-partner income on resale). We help with valuation, legal checks and the builder's transfer process.

Possession

The date the builder hands the unit over to you — usually after Occupancy Certificate.

Possession is the formal handover from developer to buyer. It typically follows the Occupancy Certificate (OC) from the local authority and the developer's completion of the agreed specifications. RERA requires the developer to publish a possession date and pay interest if it slips. Always check the project's current RERA possession date, not the sales pitch.

Occupancy Certificate (OC)

A certificate from the local authority confirming a building is fit to be occupied.

The Occupancy Certificate is issued by the local urban authority (in Gurgaon, that's typically DTCP or GMDA depending on the licence) after final inspection. It confirms the building has been built per the sanctioned plan and is safe and serviced. Without OC, you cannot legally live in or sell the unit.

Stamp Duty (Haryana)

The state tax payable on registration of a property — typically 5–7% in Haryana, depending on buyer gender and ownership type.

Stamp duty is the state-government tax on the sale deed. In Haryana, current rates are typically 5% for women, 7% for men, and 6% for joint ownership (subject to change). It's paid at registration of the property, in addition to a small registration fee. It is not included in the builder's price.

Builder Floor

An individually owned apartment in a low-rise (typically stilt-plus-three or stilt-plus-four) building.

A builder floor (or 'independent floor') is one full floor of a small low-rise building — usually stilt+3 (S+3) or stilt+4 (S+4) — sold as an individual unit. It offers the privacy of independent living with the convenience of low maintenance. Common across Sectors 57, 65, 84 and Sohna Road in Gurgaon.

New Launch

A project the developer has just opened for sale — often at the lowest published price for the project's life.

A new launch is the earliest official sale phase of a project. Prices are typically lowest at launch and rise through construction. Buyers get the best unit choice and payment terms. The trade-off is a longer possession horizon and construction risk — which RERA mitigates but doesn't remove.

Ready to Move

A completed project where you can take possession immediately after registration.

A ready-to-move property has its Occupancy Certificate, finished common areas, and units that can be handed over within weeks of payment. No GST applies on ready inventory. The premium over an under-construction unit is the cost of certainty.

Under Construction

A project actively being built — RERA-registered with a committed possession date and progress milestones.

An under-construction project is between launch and OC. Pricing sits between new-launch and ready-to-move. GST applies (currently 5% on most residential, 1% on affordable). RERA tracks construction milestones and the developer must report progress quarterly.

Construction-Linked Plan (CLP)

A payment plan where instalments are tied to specific construction milestones rather than a calendar.

Under a Construction-Linked Plan you pay the next instalment when the developer reports the next milestone (foundation, slab, brickwork, finishing, OC). It aligns your cash outflow with actual progress and reduces the risk of paying for stalled construction.