Property Valuers are experts who carry out a detailed inspection of a property and then present a report with an estimation of the property's value. The services of a property valuer can be availed for residential, industrial, or commercial properties. The professional valuer possesses a vast knowledge of the relative forces that affect the value of a property. The role of a property valuer generally includes:
A property valuer is responsible for measuring and recording a property onsite. This includes determining the property's accurate measurements and then clicking relevant images that are date stamped. The valuer evaluates the property as a whole and makes notes on the same.
The property valuer also inspects and surveys the property's condition. This includes noting any structural faults and identifying the number of rooms, layout, parking, landscaping, amenities, flooring, and more. The valuer inspects all attributes of the property and maintains everything on record
Location is one of the most important factors while assessing a property's value. A property valuer carefully studies the location, its demand, nearby major parks, and circle rates. The valuer accordingly analyses the present value and future projections of your property.
Property valuers can advise clients about effective methods of buying and selling properties. This includes recommending properties that match a client's requirement and assisting them till the end.
Property valuers also assist in the auctioning process of your property. This includes conducting marketing to attract the best buyers and completing all paperwork when necessary. A valuer can also assist in resolving disputes related to properties, by advocating his/her clients' rights.
Finally, property valuers produce detailed reports outlining their overall findings of a property. When a client is satisfied with the valuation, a valuer can further schedule the sale of a property.
Whether you are buying a property or selling one, it's important to get it appraised by professionals. Knowing the fair value of a property can help you better negotiate the deal and save a lot of money.
Property appraisal is also important when you are applying for a loan against that property. Banks usually approve the loan on the basis of the appraised value of the property, not the listed price.
The taxes you pay on your property are calculated on the basis of the value of the property. Property valuation can help you assess the amount of taxes you should be paying on your property.
When you buy a property, you have to pay stamp duty and registration charges to the government. These charges are determined on the basis of the value of the property. Knowing the fair value of the property can help you save on these charges as well.
A Property valuation report is a document that is given out by a valuer after he conducts an inspection for your property. This report is a comprehensive document with details of each aspect on how the valuer has arrived at the valuation for your property. The report helps buyers and sellers both, with knowing the real value of a property, which gives the right estimation for the price for a property too.
Calculating the value of a property requires expertise. You can hire property valuation experts to give you an accurate value of your property. These expert valuers are equipped with vast knowledge of the property market that helps them arrive at the right value.
As per the Income Tax Act, 1961, the fair market value is the price that you may get for selling an asset in the open market on any particular date. It is either equal to the cost price of the property or the current sale price of the property in the open market (whichever of the two is higher).
Home valuation is a complex process that requires expert knowledge of not just current sale prices but also various other factors related to market conditions. If you hire an expert for home valuation, you will have to pay the charges. These charges depend on the type of property, scope of examination, and certain other factors.
The cost of a property valuation survey depends on factors like property type, area, scope of examination, etc. At Magicbricks, you will find multiple property valuation packages, including Desktop valuation, Drive-by valuation, and Proper physical valuation. These packages start from around Rs 800-Rs 900.