Land and Building Valuation

What is Land Valuation, the value of a piece/parcel of property or land, including both the value of the land itself as well as any improvements that have been made to it. Land and Building Method for Bungalows / Flats. Bungalows / Houses: In this case the cost of land and building are assessed separately and added to get the present value of the property, Guide lines from Registrar's Department (Circle rates) Price paid within a reasonable time, in bonafied transactions of purchase of lands acquired. Demand, locality, characteristics like shape, size and location of Roads and Parks. Opinions of relevant person such as Neighbors, Brokers and recent sales and prevailing trend. Land values increase when demand for land exceeds the supply of available land, or if a particular piece of land has intrinsic value greater than neighboring areas.

Plinth area rates bases on CPWD manual or State PWD and adjusted by Index cost,

Present Value of Building/Flats: The above method of Land and building method cannot be applied on flats since Group Housing societies and DDA/ MCD Flats are effected by various factors like common passages, lifts, common places of assembly, parking. Mostly it depends on Social built up of the housing complex also. The rates are assessed from Per Square feet rate of the super area which includes Plinth area + common share of common areas such as Entrance, lifts, passages, stair hall and parking etc. It is generally taken as 15-20% higher than the plinth area. The valuation is done, thus on Prevailing rates of the super area in the locality.

Areas are defined as, Floor Area, Plinth Area, Super Area.