What is meant by valuation of property?
The price that a property can command in the open market is known as its market value. Stamp duty is based on the market value or the agreement value of the property, whichever is greater. • What does the term ‘Leasehold Property’ mean? When a piece of property is given or ‘leased’ to an individual (known as the ‘Lessee’) for a stipulated period of time, by the owner of the property (known as the ‘Lessor’), the property is referred to as Leasehold Property. A certain amount is fixed by the Lessor to be paid as lease premium and annual lease. The land ownership rights remain with the Lessor. Transfer of property requires prior permission. • What constitutes conclusion of sale of a property? When ownership rights for a piece of property are given to the purchaser for a price, that property is referred to as Freehold Property. Unlike in the case of leasehold property, no annual lease charges need to be paid and the freehold property can be registered and / or transferred in part(s). • Are
• CommentAuthoramit • CommentTimeJun 21st 2007 • Answers: 16 • Joined: Jun 21st 2007Report Abuse The price that a property can command in the open market is known as its market value. Stamp duty is based on the market value or the agreement value of the property, whichever is greater. • CommentAuthorvikram • CommentTimeJun 21st 2007 • Answers: 104 • Joined: Jun 20th 2007Report Abuse The valuation process evaluates the market value of the property. Demand and supply forces operating in the market, as well as other factors like type of property, quality of construction, its location, the local infrastructure available, maintenance, are all taken into consideration before the market value is decided. • CommentAuthordevangindia • CommentTimeAug 3rd 2007 • Answers: 6 • Joined: Aug 3rd 2007Report Abuse It is the Fair Market Rate your property would fetch on the day of Valuation id sold in open market. We can explain you in details if you can contact us… We carry out Valuations for all kind
The valuation process evaluates the market value of the property. Demand and supply forces operating in the market, as well as other factors like type of property, quality of construction, its location, the local infrastructure available, maintenance, are all taken into consideration before the market value is decided.
Ans] The valuation process evaluates the market value of the property. Demand and supply forces operating in the market, as well as other factors like type of property, quality of construction, its location, the local infrastructure available, maintenance, are all taken into consideration before the market value is decided.
