Land and Building Valuation
Land and Building valuation is the technique for estimating the fair value of the properties such as land, building, factory etc. It can be conducted for several purposes such as:
- Sales and Purchase
- Banking & Finance
- Rent Fixation of Property
- Lease and Mortgage of Property
- Income Tax
- Gift Tax
Key Methods of Valuation for Land & Building
Land and Building Method: In this method the value of Land and Building is calculated by firstly determining the value of Land separately and then the value of structures that are added to it.
Comparative Sales Method: In this method the property is valued at the value in the basis of the data of a comparative property sold near the date on which the value of the property is to be calculated.