What factors are taken into account while determining the value of a property?

Answer 1

Area where it is situated
Importance of the place in the locality.
Type of construction and quality of construction.
Size of the plot
It is vacant
How old the property is?
Free from any encumbrance.
Title is clear.
Owned by individual or ancestral.
These are the things which help in determining the value of the property.

Answer 2

It all depends on the area where the property is located. Supposing ur property might be in an isolated area, where it might be away from the city. Suddenly the Govt. decides to build a Software park with all facilities near to the property which ur holding. Then u can dream of becoming rich by holding the property till the development takes place fully and the fruits are seen, at his stage u must sell and come out.

Answer 3

As an appraiser it widely varies. For residential properties it can vary from physical features (sq. footage, finished basements, garage, lot size, loaction, school districts, condition, # of bathrooms).

For commercial properties (sq. footage, parking, condition, location, corner location, finished basement, # of stories, utility of the site, zoning regulations, shape of lot and other variables.

Rental properties (multi-family, office buildings, retail strip centers are based on income.

New properties and unusual properties (historic church etc) are based on cost.

Hope the info was helpful.

Answer 4

1. area (city as well as neighborhood)
2. size of lot
3. size of dwelling
4. condition of dwelling as well as age

these are compared against recent sales

Answer 5

1 THE TITLE SHOULD BE CLEAR
2 SHOULD NOT BE LEASED OR MORTGAGED
3. NUMBER OF OWNERS
4. ITS VICINITY FROM IMPORTANT AREAS OF THE CITY
5 NO LEGAL DISPUTE PENDING IN COURTS