Property is traded as a commodity and as a result, its prices fluctuate. It is not listed on an exchange from where the prices could be known instantly, there comes a role of a property valuer, who does the valuation based on various parameters.
Property Valuation is required in the Following Cases:
Acquisition property by the Government Advance payment against works contract by private or Government agency.
Auction value assessment Bank Guarantees creation against immovable assets
Capital Gain Tax assessment and evaluation Co-op. Society, Charitable Trusts and business entity valuation
Credit rating assessment of an individual or an organization Dissolution of a Partnership or joint venture and division of assets Division of Assets in the Family Divorce cases for assets distribution.
Foreign and domestic Collaboration to arrive at investments by collaborators
General Insurance for Insurance Cover and claim processing
Housing Loan assessment by banks and financial institutions.
Image building exercise where assets are a point of attention
Income Tax- for filing and in case of assessment by the authorities.
Liquidation cases for recovery of monies on any account
Property Transfer cases
Purchase, Sale, Takeovers and Mergers Registration in government departments
Rent and Depreciation calculation
Security with Power Supply Companies Stamp Duty assessment Testaments and Wills for successors.
Vacating Premises by a tenant towards the land lord
Visas -for establishing net worth as per norms of the travelled country
Wealth Tax assessment