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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…………….
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