How Much is the Worth of My Property?

Aug 31, 2011     Posted under: Investment

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Get official information: Procure information from the office of the registrar under the local development authority. The registrar’s office maintains a record of all the properties and their last sale value at the time of registration

Carry out a ground survey: It’s best to visit as many real estate agents as you can in your area. Brokers can give you an idea about recent transactions of similar properties in the area and this comparison will help you set a benchmark

Circle Rates: These help you ascertain the premium on the land on which the property is built. Fixed by all state governments, a circle rate is the minimum rate at which a property can be bought or sold

Professional Help: Professional property valuation experts can help you determine the market value of properties in an area by taking recent sales figures of at least two or three properties that are comparable

Arrive at an Average: After you are through with your research, you will be left with a fair deal (negotiated) price and a market price. Take the average to arrive at the correct price.

NitiN Kumar Jain

Nitin works in an IT MNC professionally but blogs and owns NKJ Live. He is also the co-owner of a professional start-up ARGHAM BYTES

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