Valuation

Valuation:-
                   Valuation is the fare price of property which may changes with respect to time.

Necessity:-     The valuation isvrequired for the various purpose which are as follows.

1. Buying and selling of property:-

There many properties like land, building, factory ect. which are some times have to sell or purchase. So while purchase or sell of any type of property the valuation is very essential.

2. Taxation:-

When the property is within the limit of municiple corporation then valuation is required for the purpose of fixing up the municiple tax for that property.

3. Rent fixation:-

The valuation of property is essential in order to determine the rent of property.

4. Security of loans:-

Some times valuation is required so as to obtain loans against security of property.

5. Insurance:-

To determine the insurance value of the property for the purpose of fixation of insurance premium.

6. Assesment of stamp fees:-

In case of newly built property, the income tax autority used to calculate the total expenditure to construct the property for comparision of income tax returned by owner.