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Know your real estate: Patwari / Penal rent / Permitted one

When you are looking for an ideal home to live and you go to a real estate agent or a broker or even a builder, they might use jargons which you might not know.

But we give you a solution!!

Read this space every Tuesday & Wednesday for Real Estate Jargons.

Patwari

Usually denotes the person appointed by a local government or land authority to maintain and update land ownership records for a specific area as well as to undertake the collection of land taxes.

Penal Rent

A financial punishment, given to the tenant for failing to honour his obligation to pay rent at the proper time, taking the form of a vastly higher figure being payable during the period of default.

Permitted One

The development that is sanctioned/approved or permitted to carry forward by the related development authority which analysis the project as per existing controlling norms.

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