Important Property Terms

1. IOD 
Intimation of disapproval or authorization Government allow to start work. 

2. CC
Completion Certificate and given in two stages. It is a document form. 

3. OC
Occupation Certificate which states the construction had been completed as per the plan. 

4. RCC
Reinforced Cement Concrete is a composite material in which concrete relatively low tensile strength and ductility are compensated for by the inclusion of reinforcement having higher tensile strength or ductility. 

5. RERA
RERA stands for Real Estate Regulatory Authority came into existence as per the real estate (Regulation and Development) Act, 2016 which aims to protect the home purchasers and also boost the real estate investments. It stands for tranparency in the real estate industry. It was brought to action to eradicate the existing discrepancies and problems within the sector. It applies to both residential and commercial properties. The standardization brought about by RERA to protect the interests of buyers and developers alike. 

6. MIVAN SHUTTERING
A kind of aluminum framework, mivan shuttering has travelled across the globe and proved to be an economical variant to the traditional method of construction when it is a large construction. The use of bricks is totally eliminated and all the components that is beans, walls, slabs, staircases etc. 
It is a fast-paced construction technique which offers strength and durability to a building by use of aluminum frameworks with a growing focus on affordable homes and housing for all, real estate stakeholders are increasingly emphasising on the use of new and innovate construction techniques. 

7. BEAM
As a beam of a house, a plow, a loom, or a balance. In building construction, a beam is a horizontal member spanning an opening and carrying a load that may be a brick or stone wall above the opening. The load may be a floor or roof in a building which case the beam is called a floor joist or a roof joist. 

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