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7 Questions

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Real Estate Valuation Basics

Created by

@HeavenlyJasper6355

Questions and Answers

What is considered the depth of the second belt relative to the first belt?

1.5 times the depth of the first belt (correct)

1.0 times the depth of the first belt

2.0 times the depth of the first belt

2.5 times the depth of the first belt

How is the rate of the market value for the first belt determined?

By estimating the development potential of the land

By calculating the total area of the properties

By comparison with similar properties sold recently (correct)

By averaging the rates of the last three sales

What rate is typically applied to belt-II compared to belt-I?

1/2 of the rate of belt-I

2/3 of the rate of belt-I (correct)

1.5 times the rate of belt-I

Equal to the rate of belt-I

What is the ratio of the market value applied to belt-III compared to belt-I?

1/2 of belt-I Signup and view all the answers

What percentage reduction is given in ASR for subsequent belts?

30% Signup and view all the answers

How deep is the front road value considered in ASR?

Up to 100 m Signup and view all the answers

What is the calculated depth of the remaining land/property considered in the third belt?

2.25 times the depth of the first belt Signup and view all the answers

Study Notes

Belting Method in Property Valuation

The second belt's depth is estimated to be 1.5 times that of the first belt, although this is an ad hoc assumption.
Any remaining land, not classified under the first or second belts, is categorized as part of the third belt, potentially measuring 2.25 times the first belt's depth.

Market Value Estimation

Market value for land in the first belt is determined through comparison with recently sold similar properties in the locality.

Rate Application Between Belts

The rate for the first belt serves as the basis for subsequent belts:
- Rate for the second belt is approximately two-thirds (2/3) of the first belt's rate.
- Rate for the third belt is about half (1/2) of the first belt's rate.

Adjustments in Annual Statement of Rates (ASR)

A reduction of 30% is applied for subsequent belts in the ASR.
Up to 100 meters in depth, the value of the front road is factored into property valuation.

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Description

This quiz explores the fundamentals of real estate valuation, focusing on belt classification of properties and market value determination. Participants will learn how to estimate values based on different property belts and their comparative depths. Engage with practical examples to deepen your understanding.