Glossary of Property Term - C

Cadastral map
A map showing the boundaries of property ownership for the recording of land tittle purposes.

Cadastral survey
A survey carried out to record the boundaries of a property on a plan.

Capital expenditure
Money spent on acquiring or improving capital assets, such as land, buildings, plant and machinery, as distinct from expenditure of a revenue nature such as money spent on the maintenance of existing assets.

Capitalisation
The conversion of expected future benefits into a capital sum; the discounting of future incomes into present value.

Capital market
The market for securities of a medium- or long-term nature in contrast to the money markets for short-term debt.

Capital value
The value of an asset as distinct from its annual or periodic (rental) value.

Cash and carry (warehouse)
An outlet where goods can be bought in bulk by traders or retail customers. Goods are exchanged for immediate payment by cash or such equivalent as is acceptable to the store. Normally, the outlet does not provide delivery service.

Cash flow
The actual or estimated movement of money by way of income and outgoings during the life of a project.

Cash flow analysis / statement
Cash flow portrayed as a table of successive periods, eg monthly, quarterly or yearly. It has many applications relating to financial viability, eg forecasting loss, break even or profit; discounted cash flow exercises; or a basis for budget control.
 
Catchment area

  1. The area of land from which water finds its way into a particular watercourse, lake or reservoir.
  2. By analogy, the area which contains those people who can be expected to obtain goods, services, employment or other benefits from a particular property. More especially related to retail premises, where the success of forecasting depends on the accuracy of estimating the number of purchasers (catchment population) likely to be attracted from from the different parts of the area and the average expenditure which might be expected from them.

Capital gain - (*)

Capital gains tax (CGT)   - (*)

Central Business District (CBD)
The functional centre around which the rest of a city is structured. Characterised by the presence of comparison shopping, office accommodation, leisure facilities, buildings for recreational use, public museums, art galleries and governmental functions. Generally the area of highest land values within a city.

Chartered surveyor
A surveyor who is a qualified member of the Royal Institution of Chartered Surveyors of United Kingdom ( RICS ) , being a Fellow or Professional Associate in one of seven divisions, each covering a different field or activity. Now, a member of the Institute of Surveyors, Malaysia ( ISM) is eligible to be a qualified member of RICS through different grade and level of membership and subject to approval of RICS Malaysia.

Collateral (security)
Traditionally used to mean some security in addition to the personal obligation of the borrower but commonly used to refer to a security provided in addition to the principal one.

Common area
The space within a shopping centre or other estate or campus-type development which is not intended to be let. It may include landscaped areas, play grounds, swimming pool, pedestrian precincts and service facilities.

Comparable
In determining the market value of a particular property, a transaction, or other relevant evidence, involving another property (or possibly similar units within the same locality) which is sufficiently similar in character and location to enable the details to be analysed to find a unit of comparison.

Competent
Having the ability or skill needed for certain job or duties or in other words the person is legally fit, having the necessary age, ability and authority to accomplish any given acts or duties.

Compound interest
Interest paid at given intervals on accumulated interest as well as on the principal.

Compulsory purchase
The acquisition, in accordance with statutory procedures and practice, of interest in land by a public or private body empowered so to do by an Act and authorised so to do by the appropriate minister’s confirming a compulsory purchase order with or without amendment. Such a purchase entitles the purchaser to deprive the, usually unwilling, owner of his property on payment of such compensation as is provided for by statute.

Concessionaire
Usually the holder of a license to trade within part of an area open to the public, such as a department store, retail shop, theatre, trade fair or leisure park. The licensee maintains his own identity but benefits from the concentration of prospective customers in the area and generally pays an all-inclusive licence fee plus, possibly, a percentage related to turnover.

Construction period
The length of time elapsing from the date a building or other similar project is started, or deemed to start, until the works involved are finished. The finishing date is frequently known as the date of practical completion, being the date when the architect certifies that all the relevant works have been carried out in a satisfactory manner.

Contractor
One who enters into a contract, especially a builder entering into a building contract.

Contractor’s basis/method
A method of valuation used, particularly in rating, where there is an absence of market evidence of comparable lettings or sales and where the profits basis is inappropriate. At first the capital value of the property is found by adding:

  1. The current cost of construction of the building or structure or suitable substitute (deducting in each case an allowance for age, functional obsolescence and other factors) to
  2. The value of the land for its existing use.

The hypothetical rental value is then calculated by taking an appropriate percentage of the capital value.

Conveyancing
The legal procedures employed in the creation, transfer and extinguish of ownership in interests in land, including preparation of contracts, enquiries, searches, land registration (where appropriate) and completion of the transaction.

Co-ownership
An arrangement whereby two or more persons are entitled to the shared ownership of land, either by joint tenancy or by tenancy in common.

Cost-benefit analysis
A method or technique to assist in decision-making, involving the consideration and measurement in financial terms of all costs and benefits, including social aspects, when comparing alternative projects or courses of action.