Off-plan

Assignment of Contract (Pre-Delivery Sale)

An assignment of contract (pre-delivery sale) occurs when an original buyer of an off-plan property transfers their rights, obligations, and legal position under a preliminary purchase agreement to a secondary buyer prior to construction completion and final title registration. The secondary buyer assumes all remaining installment obligations toward the developer.

Black Frame Delivery

Black frame delivery refers to the bare shell stage of property completion in Georgian real estate developments. The developer hands over an apartment with structural concrete, exterior walls, entrance doors, double-glazed windows, and main utility risers brought to the property boundary, leaving all internal walls, utility distribution, subflooring, and cosmetic finishing entirely to the buyer.

Construction Delay

A construction delay occurs when a real estate developer fails to complete a building project or deliver a unit by the contractual completion date specified in the purchase contract. Delays stem from financing shortages, permitting issues, or supply failures, triggering contractual grace periods, monetary penalties, or contract rescission rights.

Construction Stages in Georgia

Construction stages in Georgia represent the sequential engineering, structural, and legal milestones of real estate development. These stages range from land acquisition and permitting to zero-cycle excavation, monolithic frame assembly, utility installation, interior framing (Black, White, or Green Frame), and final municipal commissioning paired with Public Registry registration.

Delivery Date (Off-Plan)

The delivery date in off-plan real estate is the contractually specified deadline by which a developer must complete construction, obtain municipal operational approval, and hand over physical possession of a property to the buyer. In Georgia, this deadline is closely tied to agreed finish states (such as White Frame or Turnkey) and standard contractual grace periods.

Developer Guarantee in Georgia

A developer guarantee in Georgia refers to legal, financial, or performance commitments provided by a real estate developer to mitigate buyer risk in off-plan purchases. These guarantees encompass construction completion timelines, bank-backed escrow arrangements, structural defect warranties, and rental yield promises. Because state completion insurance is not mandatory, protections rely on preliminary contract registration and bank financing structures.

Developer Payment Plan in Georgia

A developer payment plan in Georgia is a direct financing structure provided by real estate developers for off-plan property purchases. Buyers make an initial down payment—typically {{data:typical_down_payment_percent}}% to 30%—and pay the remaining balance in interest-free monthly or quarterly installments during construction. Advertised prices in Georgia legally include the mandatory 18% Value Added Tax (VAT).

Floor Premium

A floor premium is an incremental price charge applied to residential or commercial units located on higher floors within a multi-story building. Developers adjust prices upward per floor or block of floors to account for enhanced natural light, superior views, reduced street noise, and heightened privacy, directly influencing an off-plan property's acquisition cost and resale valuation.

Green Frame Delivery

Green Frame delivery is an off-plan construction stage in Georgia where a residential property is handed over with structural work, utility rough-ins, plastered walls, floor screed, and central heating pipes completed. Buyers need to perform cosmetic finishing—such as installing floor coverings, tiles, interior doors, wall paint, lighting, and bathroom fixtures—before the apartment is habitable.

Off-Plan Purchase in Georgia

An off-plan purchase in Georgia involves acquiring real estate prior to or during its construction. Buyers enter into a Preliminary Purchase Agreement registered with the National Agency of Public Registry (NAPR). In Georgia, developer advertised prices legally include the 18% Value Added Tax (VAT), and payment is commonly structured through interest-free internal developer installment plans.

Sea-View Premium (Batumi)

The Sea-View Premium in Batumi refers to the pricing surcharge per square meter added to residential or condo-hotel units with direct or indirect Black Sea views compared to mountain or city-facing units within the same development or location.

Turnkey Delivery

Turnkey delivery in real estate refers to handing over a property in a fully finished, move-in-ready state. In Georgia, turnkey condition includes complete interior renovation, flooring, painted walls, installed plumbing, operational electrical fixtures, and equipped bathrooms. It allows immediate owner occupancy or commercial leasing without requiring additional structural or cosmetic construction.

Unit Mix

Unit mix refers to the combination and proportional distribution of different apartment types—such as studios, one-bedroom, two-bedroom, and penthouse units—within a residential or commercial real estate development. Developers optimize the unit mix based on target demographic demand, yield expectations, and local planning constraints to maximize project absorption rates and profitability.

White Frame Delivery

White Frame delivery is a property completion status in Georgia where a new-build apartment is handed over in a semi-finished state. It includes installed double-glazed windows, a primary entrance door, plastered internal partition walls, floor screed, and main utility lines routed into the unit.