Real Estate Glossary

Under RERA, "completion certificate" means the completion certificate, or such other certificate, by whatever name called, issued by the competent authority certifying that the real estate project has been developed according to the sanctioned plan, layout plan and specifications, as approved by the competent authority under the local laws.

‘Conveyance’ refers to the act of transferring the title, ownership, rights and interests in a property from one entity to another. The term ‘deed’ refers to an instrument, like a written document signed by all the parties to a contract, in this case, the seller and buyer. It is a binding contract that is enforceable in a court of law. A conveyance deed is, therefore, a contract in which the seller transfers all rights to the legal owner.

Under RERA, an encumbrance certificate will contain the details of encumbrances on the land on which development is proposed, including any rights, title, interest, dues, litigation, details relating to mortgage/charge created for the project land and the facility taken by the Promoter or any third party and name of any party in or over such land.

No Objection Certificate, popularly abbreviated as NOC, is a type of legal certificate issued by any agency, organization, institute or, in certain cases, an individual. It does not object to the covenants of the certificate.