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A data centre is a physical room, building or facility that houses IT infrastructure for building, running, and delivering applications and services, and for storing and managing the data associated with those applications and services. Data centres have evolved in recent years from privately-owned, tightly-controlled on-premises facilities housing traditional IT infrastructure for the exclusive use of one company, to remote facilities or networks of facilities owned by cloud service providers housing virtualized IT infrastructure for the shared use of multiple companies and customers.
Global Capability Centres (GCCs), also known as global in-house centres or captives (GICs), are offshore centres established by firms to provide various services to their parent organisations. These centres operate as internal organisations within the global corporate structure, providing specialised capabilities such as IT services, research and development, customer support, and other business tasks. GCCs and GICs are critical in leveraging cost efficiencies, accessing talent pools, and encouraging collaboration between parent businesses and their offshore affiliates.
An adjustable-rate mortgage (ARM) refers to a home loan with a variable interest rate. With such loans, an initial interest rate is fixed for a stipulated period of time, after which the interest rate applicable on the outstanding balance varies. The rate is reset periodically, at yearly or even monthly intervals and is based on a benchmark or index, plus an additional spread called an ARM margin. ARMs are also called variable-rate mortgages or floating mortgages. ARMs generally have caps that limit how much the interest rate and/or payments can rise per year or over the lifetime of the loan.
Fixed-rate mortgage refers to a home loan that has a fixed interest rate for the entire term of the loan. Once locked in, the interest rate does not fluctuate with market conditions. Borrowers who want predictability and/or who tend to hold property for the long term tend to prefer fixed-rate mortgages. Fixed-rate mortgages may be open or closed with specific terms or may run for a length of time agreed upon by the lender and borrower.
Preferential location charge is a premium charged for superior features in a flat. These features can include but are not limited to sea views, park views, higher floors, corner flats, terrace access flats, etc. PLC charges can be calculated on a square foot basis or a slab rate.
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A Construction-linked Plan (CLP) is a flexible payment method for under construction flats. The buyer initially pays a predetermined down payment, after which all subsequent pre-determined payments are made in instalments that are linked to the progress of construction.
An Expression of Interest (EOI) cheque, also known as an Earnest Money Deposit or Good Faith Deposit, is a sum of money a buyer pays a seller to express a genuine interest and commitment towards purchasing a particular property. It is usually made after both parties are in agreement on the general terms of sale but before any formal signing of an agreement takes place.
Capital assets are significant pieces of property such as homes, cars, investment properties, stocks, bonds, and even collectibles or art. Any profit arising from the sale of a 'capital asset' is referred to as a capital gain. This gain or profit is considered as 'income' and therefore applicable to be taxed. Capital gains tax can be short-term or long term and must be paid within the same year as the transfer of asset. In India, assets received as gifts or by way of a will or inheritance is exempt from taxation. However, if the individual inheriting the asset choses to sell it, capital gain tax will be applicable.
Fair Market Value or FMV refers to the price set for selling or purchasing an asset in the
open market. Financial institutions like NBFCs and Government organisations use Fair Market Value while assessing the valuation of collateralized or taxed assets.
Appreciation refers to an increase in the value of an asset over time, such as a stock, bond, currency, or real estate. For example, the term capital appreciation refers to an increase in the value of a property which can occur for several reasons including increasing demand or weakening supply, or as a result of changes in inflation or interest rates. Appreciation is the opposite of depreciation, which refers to a decrease in value of an asset over time.
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