Freehold property:  This kind of property is “free” from any encumbrances, besides that of the owner. The owner of such a land can enjoy free ownership of the land over a long time and can make use of the land in any way, within the framework of the local rules and regulations. When the owner wants to sell the land no permissions from the state is required. This leads to lesser paperwork and therefore, such land can get more expensive than other kinds of property, such as leasehold property.

Affordable housing: This refers to that kind of housing which is affordable by those sections of society whose incomes fall below the general average incomes. Each country has its own definition of affordable housing, but all agree on one common principle – the housing needs of the lower or lower middle classes should be capable of being addressed.

In developing countries, especially, a wide majority of the population are unable to afford buying houses at the normal or market price rate. It is the function of the Government to solicit the help of various developers and come up with building schemes that can be afforded by all.

Capital lease: This is a lease agreement in which the lessor transfers the ownership rights to the lessee after the lease period is completed. Such types of leases are generally long-term in nature and cannot be cancelled.