What is land valuation?
In a country like India, where land is scarce and population is ever-growing, comprehending the land valuation process is crucial. Whether you are a purchaser or an investor, it's essential to understand the definition, contributing factors, and methodologies of land valuation before making significant financial decisions. What is Land Valuation? Land valuation is the total value of a property, including the cost of the land and any modifications. It differs from site value, which calculates the fair worth of the land without considering mortgages, leases, or rentals. Factors affecting land value could signal high demand or inherent worth, like proximity to resources. Factors Influencing Land Valuation: Location: The primary factor affecting land value is its location, indicating the extent of development. Urban plots usually cost more than rural ones. Existence of a Structure: Land with existing structures may have higher or lower value based on maintenance costs. Ownership: S...