FREE COMPLETE STUDY MATERIAL NOTES FOR IBBI EXAMINATION
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ONLINE BATCH STUDY MATERIAL-50 HRS EDUCATIONAL COURSE UNDER RULE 5(1) READ WITH RULE 12(2)(a) FOR REGISTRATION AS VALUERS UNDER THE BANNER OF CEV IAF RVO
UNIT-2
CHAPTER: 1
INTRODUCTION AND BASICS OF VALUATION
- What is Valuation?
Valuation is the technique of estimation or determining the fair price or value of property such as building, a industry, other engineering structures of various types, land etc. By valuation the present value of a property is defined. Valuation is an estimation of the worth of something, especially one carried out by a professional valuer. Valuation of Real Estate is a multidisciplinary subject involving study of economics, law, building construction, study of human behavior, social customs and study of government policy. Some valuers call it an “Art” and some others call it a “Science”. Valuation is both Arts and Science. It is an Art of estimating the value of the property based on scientific data.
Valuation of the property is a very old concept. We can date it back with the time of the beginning of the civilization of human mankind. The man had learned how to cultivate land and grow agricultural produce for his food requirements. He had also learned art of developing land by erecting small huts for protection and shelter of his family members and for his associates in the group. This development of immovable property (asset) was also associated with development of herds of cow, horse, sheep etc. which we may call as development of movable asset……………………….READ MORE
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