Market value of any property is the price at which that property would sell under normal conditions. The normal condition excludes the condition of selling the property due to any unforeseen circumstances which may change the market value of that property depending upon that situation.
Below are a number of factors on which the market value of a property is based on:The present market value of your property is primarily dependent upon the location of that property. In terms of location factors such as availability of transportation, major landmarks, and many other things affects the market value.
The present condition of that property internally and externally including availability of water, sewage system, size of the property, number of rooms, etc. are some of the elements that have a direct effect on the market value of that property.
While estimating the market value of a property, you should always keep in mind that you are evaluating the market value of one particular house only. Market value of a property majorly depends upon the cost at which similar properties in the neighbourhood were sold previously, so while calculating the market value the location of the property or its neighbourhood should be the starting point for your estimation related to market value of that property. In comparison to the neighbourhood, if your property is newer and larger in size and is having any additional features, then the market value may be a little bit higher as you can add up the cost to the final sale price.
4. Demand & SupplyThe market value may rise or fall depending on the basis of demand and supply in that particular region. Its calculation is done considering the number of homes available for sale in that area and the number of buyers in that area.
How to calculate market value of a property?
Ramesh babu
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October 8, 2020
2020-10-08T10:47:05+00:00 2021-02-09T19:23:07+00:00Comment
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