Podcast
Questions and Answers
How is covered parking in a residential building assessed?
How is covered parking in a residential building assessed?
- At 50% of the applicable rate without deductions.
- At 25% of the applicable rate without deductions as per circular 18 & 19. (correct)
- At the land rate of the relevant value zone.
- At the full applicable rate with a 10% increase.
For open land used as an independent parking space, what percentage of the land rate is used for valuation?
For open land used as an independent parking space, what percentage of the land rate is used for valuation?
- 50%
- 40% (correct)
- 30%
- 20%
Which type of property is typically excluded from covered parking valuation rules?
Which type of property is typically excluded from covered parking valuation rules?
- Independent bungalows on separate plots (correct)
- Factories
- Apartments
- Office buildings
What is an example of a covered parking facility?
What is an example of a covered parking facility?
If a commercial building has a covered parking area, how is the parking area's construction cost assessed for valuation?
If a commercial building has a covered parking area, how is the parking area's construction cost assessed for valuation?
What percentage of the land rate applies to the valuation of open parking?
What percentage of the land rate applies to the valuation of open parking?
Which type of parking includes stilt parking as an example?
Which type of parking includes stilt parking as an example?
Where would you typically find a covered parking area?
Where would you typically find a covered parking area?
For valuation purposes, the land rate of open land used for parking is determined by which factor?
For valuation purposes, the land rate of open land used for parking is determined by which factor?
What is the typical valuation approach for covered parking in a commercial building?
What is the typical valuation approach for covered parking in a commercial building?
What is the primary factor used for valuing open land parking?
What is the primary factor used for valuing open land parking?
Which type of parking is calculated at a flat 25% rate of the associated building valuation?
Which type of parking is calculated at a flat 25% rate of the associated building valuation?
In the context of property, what does 'आच्छादित वाहनतळ' refer to?
In the context of property, what does 'आच्छादित वाहनतळ' refer to?
What kind of properties typically have stipulations about आच्छादित वाहनतळ?
What kind of properties typically have stipulations about आच्छादित वाहनतळ?
The valuation percentage that applies to ओळ जमिनीवरील वाहनतळ is ________ than the percentage for आच्छादित वाहनतळ.
The valuation percentage that applies to ओळ जमिनीवरील वाहनतळ is ________ than the percentage for आच्छादित वाहनतळ.
Flashcards
Valuation of Covered Parking
Valuation of Covered Parking
For properties (excluding independent bungalows) with covered parking facilities (e.g., parking garage, stilt parking, multi-story parking), the construction area of the covered parking should be valued at 25% of the applicable rate for the corresponding use (residential, commercial, industrial) in the Annual Value Rate Table.
Valuation of Open Parking
Valuation of Open Parking
For independent open-land parking, the valuation should be 40% of the land rate in the relevant valuation zone.
Mechanical Parking
Mechanical Parking
This refers to parking systems that use mechanical devices to move vehicles, often in dense urban environments to maximize space.
Study Notes
- Parking evaluation applies to all properties except bungalows on independent plots.
- Covered parking includes parking garages, stilt parking, and multi-story parking facilities.
- Covered parking areas are evaluated at 25% of the rate for the related property use, without deductions or additions, as per Notifications 18 & 19.
- Open land parking is evaluated at 40% of the land rate in the relevant valuation zone.
- This applies to automated/mechanical parking for residential, office, shop, or industrial buildings.
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