International Research Journal of Engineering and Technology (IRJET)
e-ISSN: 2395-0056
Volume: 10 Issue: 06 | Jun 2023
p-ISSN: 2395-0072
www.irjet.net
STUDY OF VALUATION OF RESIDENTIAL PROPERTY – A CASE STUDY OF PUNE CITY Mr. Harshad S. Pawar1, Dr.Nitin Bharadia2 1M.Tech (Valuation) Student, Department of Civil Engineering, Sandip University, Nashik, India. 2Associate Professor, Department of Civil Engineering, Sandip University, Nashik, India.
----------------------------------------------------------------------------------------------------------------------------- ------------------Valuers will consider zoning, ordinances, and planning Abstract - Calculating a property's value at a specific
restrictions from the Council. In addition, factors including the neighbourhood's desirability, market demand, and amenities (such as schools, hospitals,
period is the process of valuation. The property's market worth is frequently sought after. One of the most important aspects in calculating a property's worth is the present value of any possible future benefits from real estate ownership. Value is determined using the selling price and prospective rent or earnings. Pune, a sizable Indian metropolitan, has experienced recent fast growth. Due to increased home demand and real estate investment, real estate prices have increased. In Pune, efforts have been made to look at how real estate values have evolved and behaved, as well as the factors that have influenced them, and to acquaint people with the standard field practise of valuing real estate. The purpose of this study is to estimate the market value of real estate in India's PUNE (Maharashtra) region that is being taken into account for bank financing. This inquiry is being managed by a government-approved official valuer.
Green spaces, and so on) should be considered. The Land Registry, which updates home prices in various regions each month, is another source of information used by valuers.
2] LITERATURE REVIEW madhavan b.k. (2012) The author conducted a valuation of the SSM Institute of Engineering & Technology building in Didigul District, Tamil Nadu, which is a Gents hostel building. The valuation was conducted shortly after the building's completion of construction, and the author studied each individual item of work and conducted the valuation separately for each item.
Key words: Real estate, property rates, market value, realisable value, valuation, and trend analysis in Pune.
Suraj patidar et. al. (2018) this work aimed to study the market value of a building for bank financing purposes that is situated in an urban, semiurban, and rural area of Chhattisgarh, India. This study helps the bank to know the actual condition of the building and simplify the bank finance amount to the owner of the property.
1] INTRODUCTION The property's conditions, such as its structure, age, maintenance history, location, etc., have an impact on its market value. The majority of financial transactions, such as buying, selling, borrowing, and mortgages, are related to value in the economy. At the request of the seller or a financing institution, an independent valuer or estate agent typically performs a property appraisal. In addition to structural evaluations that evaluate the property's physical condition, buyers who are thinking about making a purchase may ask for an estimate of the property's worth. A lending organisation (like a bank) could ask for a valuation before approving a mortgage or refinancing to make sure the loan can be repaid using the security value of the property. They may lend the money with confidence, knowing they can sell the house and recover any unpaid mortgage obligations. Sale of the property. In order for the assessment to be as fair and accurate as possible, the property will often be compared to other comparable houses in the vicinity.
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Sneha Malwadakar (2015) work focused on the current rate variation for commercial properties in various areas of Pune city, India, and sought to identify the factors influencing the commercial property valuation. Commercial property is defined as real estate used to generate revenue. Many studies have examined the commercial property valuation parameters that affect their value. This study not only identifies the factors affecting co. Ujwala P. kulkarni (2019) research article examines the valuation of residential and commercial buildings via a case study, stating the many aspects that determine an asset's value and comparing market rates with government rates.
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