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Property Valuation: Points to be kept in mind

By Dr. S. N. Bansal On 2017-02-03 12:02:32

Valuation of property is an essential part for a property transaction. Valuation process evaluates the market price of the property.

A complete valuation report consist of all major assets of a property and a valuer have to look at the assets individually to get there nominal value .Valuation can be done only by the professional or by those who are registered under government. Property should be valued individually and closely that will depend upon the interior or exterior of the property also. Some real estate agents also do valuation depending upon the market value.

Some conditions that affect the valuation
Supply and Demand: Market value of a property affects the demand and supply of property that will depend on the quality of construction, maintenance, or local infrastructure and market condition.
Layout: Layout of the premises is very important for valuation. That will help the valuer to know how much space is used efficiently and cost will depend on that also
Location: Major factor that will help the valuer to get any idea about the property is location of the property. Property nearby market, hospitals, educational institutes, Malls etc have more value than property in remote area.
Security and Safety: Security is the first factor that every individual expect from the seller. Best location with higher rate of return property is available in the market with modern amenities.

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