Yet, you should get a fair idea about the approximate amount.įind Out How to do The Market Value of Property Calculation Online However, it is to be understood that even when the locality is the same and the constructions may form a part of the same housing society, there can be variation in price because of the direction of the house, its size, and the interiors, and the legal issues involved. A lot of factors are taken into account to estimate the cost.ģ) Comparative Property Valuation Method.Īlso referred to as the sales comparison approach, this method assesses the value of similar properties in the locality to determine the estimated cost of the property in question. The building valuations are added to the value of the land to derive the market value of the property as a whole. The second belt is assigned a two-third rate of the first belt and the third belt is assigned half the value of the first belt.Īs the name suggests, this method helps determine the value of the land and building separately. The maximum value is given to the belt that is closest to the main road. This is the most commonly used method to compute the market value of big properties in urban areas. These belts are evaluated individually at different prices. Under this method, the property is evaluated by dividing the plot into three belts. Here is a detailed look at how these five methods help in the market value of land calculation: Other methods used for the market value of property calculation include the land and building method, development method, and guidance value method.Īlso read: All You Need To Know About Property Tax If you have a property and want to find out how much it has appreciated over years or are planning to purchase a new one and want to know how much your potential possession is worth then you can calculate the same using the comparative or belting method. They mainly include the property’s location, size, shape, level, as well as legalities involved. Several factors play a part in determining the market value of the land. However, there are many areas where the land value has remained unchanged for years. The urban regions in the country are particularly seeing a surge in the market value of the property. The value of land is increasing in India.
How to Calculate Market Value of Property? We shall also discuss how the market value of property calculation can be done online. In this article, we will help you understand how to evaluate the market value of property by providing a brief account of the various methods that can be used to determine the same. Property valuation can be done using various methods. This aids in making a profitable decision when it comes to buying and selling property. The market value of the property, also known as its guidance value, is derived to assess how much a property is truly worth.
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