Holiday home glossary – definitions property terms-U

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U

Uplifted rent: A rent which reflects lease terms which are more beneficial to the tenant than prevailing commercial terms, eg. a higher rent to reflect, say, 14-yearly reviews, rather than the more common five-yearly reviews.

Urban Land Ceiling and Regulation Act (ULCRA): A legislation promulgated in 1976 as a social equity measure with a view to curb profiteering and hoarding in the urban land market as well as prevent urban congestion. Urban centers i.e. cities were classified into categories such as A, B and C and a ceiling on the maximum permissible usage on land by respective owners was set under provisions of the act.

User: (a) The use or enjoyment of a property or of a right over property. (b) A person who uses, enjoys or has a right over a property.

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