Sale
Sale is a transfer of ownership in exchange for a price paid or promised or paid and part promised.
Sale deed
Sale Deed also known as conveyance deed is a document by which the seller transfers his right to the purchaser, who, in turn, acquires the absolute ownership of the property. This document is executed subsequent to the execution of the Sale Agreement after compliance of various terms and conditions detailed in it.
Sealing Fee
This is a fee made when the lender releases the legal charge over your property.
Specific performance
It is a requirement compelling one of the parties to perform or carry out the provisions of a contract into which he has entered as agreed between the parties.
Stamp Duty
Stamp duty is a source of revenue for the Government, payable on every conceivable documented transaction. It is payable in full and on time when any property or other contractual transaction is entered into India or even abroad, when the subject matter of the transaction is situated in India.
Standard Rent
It is worked out on the basis of the value of land and cost of construction when built, as per the provisions of the Rent Control Act so as to protect the tenant from paying exorbitant rent and eviction.
Security Deposit
Security deposit comprises an interest free lump sum payment to the landlord at the commencement of the lease, which is refundable at the end of the lease term. Some landlords provide a bank guarantee to the tenant as security for the initial deposit amount deposited by the lessee.
Sub-Lease
A lessee can transfer the whole or any part of his interest in the property by Sub-leasing.
Sub Leasing
A method wherein the primary lessee of a property has the right to further lease out a part or whole of the property to another occupier or lessee. Essentially, the right to sub- lease happens with the consent of both the lessor and the lessee. It is decided at the time of signing the main lease agreement.
Survey
The process by which a parcel of land is measured and its boundaries and contents ascertained.
Sale and Leaseback
An arrangement whereby a freeholder or lessee sells his interest in a property for an agreed sum and then takes back a lease on the whole or part of the property from the purchaser, either on a rack rent or some lesser rent related to the price paid.
Site Plans
Site Plans are drawings of an area of land, on a horizontal plane, showing the boundaries and physical extent of the land included in a particular parcel, the proposed layout of a development or even existing buildings.
Suspended Ceiling
A ceiling which is not a part of the structural framework of a building and is installed below the level of the underside of the floor above or of the roof.
Step-Up Lease (Graded Lease)
A lease that lays down set increases in rent at set intervals during the term of the lease.
Straight Lease (Flat Lease)
A lease specifying a fixed amount of rent that is to be paid periodically, typically paid out in monthly installments during the entire term of the lease.