To know how to know land value, you need to consider certain factors like
land size, shape, location, infrastructure, FSI, and more. One way you can calculate the land value is through comparison with the market rates of similar plots in your area. I used this method once to get a rough estimate of our plot value. Let me share a few ways you can know your land’s value.
How to Calculate Your Land Value?
There are different ways you can calculate your land value. In the comparison method, you compare the rates of different plots in your area and calculate a rough value of the land.
If your plot measures 1200 square feet and a similar plot in your area of 2500 sq ft. was sold for Rs. 90 lakhs, the rate per square feet would be Rs. 3600. So, if you multiply the per square feet rate with the size of your plot, you will get a rough estimate of your land value, that is Rs. 43.2 Lakhs. However, there are several factors that affect this rate, and to get an exact rate.
You can also calculate the land and building value separately to find the final value of the property. My father taught me this method, and it’s useful when you want to know the land and building value separately. Here’s how you can do this.
Building Value: Reconstruction cost - Depreciation value
Land Value: Property value - Building value
I hope this gives you some idea about how to know the land value.
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How to Know Land Value?
Aditya
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4 Year
2020-11-20T14:33:38+00:00 2024-12-30T12:01:56+00:00Comment
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