RCC (Reinforced Cement Concrete)

It refers to a type of construction technique or structural system using reinforced cement concrete, which involves embedding steel reinforcement bars within concrete to enhance its strength and durability.

Realtor

A Realtor is a licensed real estate professional who is a member of the National Association of Realtors (NAR) and adheres to its strict Code of Ethics.

Refurbishments

These refer to renovations, upgrades, or improvements made to existing properties to enhance their functionality, aesthetics, or value.

Registration

The process of officially recording or documenting a property transaction with the appropriate government authority, such as a land registry office or local municipality. It involves submitting legal documents, deeds, or contracts to establish ownership rights or interests in real estate.

REIT (Real Estate Investment Trust)

A REIT is a company that owns, operates, or finances income-producing real estate properties and distributes dividends to shareholders. REITs offer investors a way to invest in real estate without directly owning or managing properties and provide liquidity and diversification benefits.

Renewals

It means the extension or continuation of a lease agreement beyond its initial term.

Rent Back

It refers to an arrangement where a property seller agrees to lease back the sold property from the buyer for a specified period, allowing the seller to continue occupying the property as a tenant after the sale.

Rental Growth

It refers to the increase in rental rates or income generated from leased properties over time. Rental growth is influenced by factors such as market demand, supply dynamics, economic conditions, and property performance.

Rents

These refer to the periodic payments made by tenants to landlords in exchange for the use and occupancy of leased premises.

RERA (Real Estate Regulatory Authority)

RERA is a regulatory body established by the government in some countries to regulate and oversee the real estate sector, protect the interests of buyers and investors, and promote transparency and accountability in real estate transactions.

Residential

It means properties or developments primarily intended for use as residences or dwellings, such as single-family homes, multi-family apartment buildings, condominiums, or townhouses.

Retail

Retail refers to properties or spaces used for the sale of goods or services to consumers. Retail properties may include storefronts, shopping centers, malls, strip malls, or standalone retail buildings.

Retainer

A retainer refers to a fee paid to retain the services of a real estate professional, such as a broker or attorney, for a specified period or a specific project.

Return of Office Plan

‘Return of Office Plan’ refers to a strategy or plan developed by companies or organizations to transition employees back to the office after a period of remote work or telecommuting, particularly in response to external events such as pandemics or emergencies.

Rollback

Rollback refers to a reduction or adjustment in property taxes assessed on a property, often resulting from changes in property valuation or tax assessment methodologies

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GLOSSARY