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Multi-Modal Logistics Park (MMLP) refers to a freight-handling facility encompassing a minimum area of 100 acres (40.5 hectares), with various modes of transport access. It comprises mechanized warehouses, specialized storage solutions such as cold storage, facilities for mechanized material handling and inter-modal transfer container terminals, and bulk and break-bulk cargo terminals. It is a type of Logistics Park where various value-added services are rendered in addition to rail/road-based transportation. The purpose of MMLP is to reduce coordination among different parties during transfer of cargo from one mode to another.
A logistics park is an industrial area specifically designed for storage, management, distribution and transportation of various goods. These parks are designed to be well connected to major roads and railway stations thereby reducing the cost of goods transport. They are also equipped to host facilities to execute all logistics tasks at significantly lower costs.
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.
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.
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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.
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.
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.
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.
Ready reckoner rate, also known as circle rate, is the minimum selling price of a property, set by the State Government. It is the minimum value of an asset, at which it must be registered at the time of its transfer. It is used for the calculation of stamp duty, property tax and various other registration fees. The Ready Reckoner rate is updated periodically by the State Government to reflect the current market conditions. Individuals selling or buying properties at a rate less than the prevailing ready reckoner rate can be penalised by authorities.
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