Although the Government announces market value, known as the guidance value, such value will be nowhere near the actual value of property put up for sale. Hence it is critical to avail services of a technical Valuer to arrive at the proper valuation of the property. Technical Valuation is a scientific way of arriving at the proper market value at which one should buy a particular property. A qualified Chartered Engineer/Architect will undertake valuation assignments. To arrive at site value, he/she considers the Guidance Value fixed by the Govt., the locality, approach roads, neighborhood facilities, etc. To assess the building value, he/she measures the dimensions of the building to calculate the built-up area, and he/she verifies the age of the building, quality of construction, maintenance, layout plan, interiors, etc., and arrives at the market value of the property.
Selling a Property:
A piece of time-tested advice is ‘selling of property should be the last resort!’ This is due