The term Residential Property means a land or a building with the sole purpose of living or dwelling, which are not used for any kind of commercial or industrial purpose. Apartments/flats, bungalows/ villa, row houses, farm house, etc are the categories of residential property.

A residential property can be owned or rented. Types of housing tenure include owner occupancy, housing cooperative, condominiums (individually parceled properties in a single building), public housing, tenancy and co-housing.

A residential area is the land used for housing purpose unlike commercial or industrial areas. Residential areas include single family housing or multi family residential houses. Residential areas may or may not permit some commercial services or work opportunities.