What does loc mean in real estate terms?
An investment property line of credit (LOC) is a short-term financing option for properties on which the owner does not live or work. It’s similar to a home equity line of credit (HELOC), only the lien is placed on investment property, not someone’s primary residence.
What does FAR stand for in zoning?
Floor area ratio
Floor area ratio (FAR) is the measurement of a building’s floor area in relation to the size of the lot/parcel that the building is located on.
What is permissible FAR?
FAR is calculated by a simple formula – total covered area of all floors divided by the plot area. Suppose the builder has got a plot of 1,000 sq m and the permissible FAR, according to development plans, is 1.5. He is allowed to construct a building on 1,500 sq mt of this plot.
What is FAR in architecture?
The Floor Area Ratio (FAR) is the ratio of a building’s gross floor area to the total size of the land upon which it is constructed. GFA takes into account the combined area within the perimeter of the outer walls and is measured from the exterior faces of the building.
What does LOC mean in slang?
Summary of Key Points
|Type:||Word and Abbreviation|
|Guessability:||1: Easy to guess|
|Typical Users:||Adults and Teenagers|
What is LOC in payment?
A line of credit (LOC) is a preset borrowing limit that can be tapped into at any time. A LOC is an arrangement between a financial institution—usually a bank—and a client that establishes the maximum loan amount the customer can borrow.
What is GFA in real estate?
Each property must be evaluated using the correct questionnaire. Review the definitions below to identify your building type based on the primary use of it’s Gross Floor Area (GFA). If your building is composed of multiple structures, find out if it can be assessed using one questionnaire here.
Who determines FAR in real estate?
FAR guidelines are determined by municipalities and generally differ from one locality to another. Ratio will vary depending on the variation in population density, construction-related activities, growth patterns, and the nature of the building’s space or land.
Is balcony included in FSI?
Exterior spaces, balconies, patios, parking, walkways and driveways that are covered, attics and outdoor sports courts, are not included in the gross floor area.
How many flats are in an acre?
In the tweaked policy, the department by doing away with density norm has allowed promoters to raise up to 130 flats per acre, compared to 60 flats permissible in the previous policy.
How do you calculate GFA of a building?
Multiply the square footage times the number of floors in the building. Subtract the square footage of any elevator shafts, lobbies (other than on the first floor), or rooms that house only equipment used for the building’s operation. The result is the gross floor area.
What does loc mean in Greek?
loc, loco- root work meaning “place, area”
What does loc stand for in real estate?
LOC is a payment option for non-owner occupied properties (see below). It provides real estate investors with funds based on the equity of an investment property. This is a company which finances, owns, manages, and operates income-producing investment properties.
What does loc stand for in military category?
Line of Control: LOC: Locate(ing) LOC: Loss of Control: LOC: Locality: LOC: Line Of Credit: LOC: Letter Of Credit: LOC: Length of Cut (measurement) LOC: Local Organizing Committee (various organizations) LOC: Line of Coverage (insurance) LOC: Line of Communications (US DoD)
Where can I find abbreviations for real estate?
Usually, the realtor’s website will give a good description without the real estate abbreviations. There are many abbreviations used in real estate, but the following list includes the more common ones you’ve probably heard before.
What does loc stand for in League of cities?
League Online Community (National League of Cities) LOC. Local Oversight Committee (Oak Ridge, Tennessee) LOC. Loan Origination Center. LOC. Letter Of Counseling.