Podcast
Questions and Answers
An independent bungalow has a terrace used for residential purposes. If the base residential rate is $3000$ per sq ft, what is the terrace's value per sq ft?
An independent bungalow has a terrace used for residential purposes. If the base residential rate is $3000$ per sq ft, what is the terrace's value per sq ft?
- \$1050\$
- \$900\$
- \$1200\$ (correct)
- \$1500\$
A flat is valued at $1500$ per sq ft. What would be the value per sq ft of its terrace if sold separately?
A flat is valued at $1500$ per sq ft. What would be the value per sq ft of its terrace if sold separately?
- \$750\$
- \$600\$
- \$525\$ (correct)
- \$450\$
A shop has a terrace above it. The commercial rate is $2500$ per sq ft. What is the terrace's value per sq ft?
A shop has a terrace above it. The commercial rate is $2500$ per sq ft. What is the terrace's value per sq ft?
- \$1250\$
- \$900\$
- \$1000\$ (correct)
- \$750\$
In a terrace transfer/sale on an independent bungalow, which factor(s) are included in the valuation process?
In a terrace transfer/sale on an independent bungalow, which factor(s) are included in the valuation process?
An independent bungalow's terrace development rights are being sold. New construction cost is calculated at what percentage of the standard construction rate?
An independent bungalow's terrace development rights are being sold. New construction cost is calculated at what percentage of the standard construction rate?
A building has both residential flats and commercial shops. Do terrace valuation rules apply to both types of occupancies?
A building has both residential flats and commercial shops. Do terrace valuation rules apply to both types of occupancies?
The valuation rate above offices/shops is calculated based on what rates?
The valuation rate above offices/shops is calculated based on what rates?
Which elements are included in the valuation method for terrace development rights?
Which elements are included in the valuation method for terrace development rights?
Flashcards
Terrace Valuation Rate (Bungalow)
Terrace Valuation Rate (Bungalow)
40% of the base residential rate.
Terrace Valuation Rate (Flat)
Terrace Valuation Rate (Flat)
35% of the flat rate.
Terrace Valuation Rate (Commercial)
Terrace Valuation Rate (Commercial)
40% of the commercial rate.
Terrace Development Rights Cost
Terrace Development Rights Cost
Signup and view all the flashcards
Terrace Valuation Applicability
Terrace Valuation Applicability
Signup and view all the flashcards
Bungalow Terrace Transfer Calculation
Bungalow Terrace Transfer Calculation
Signup and view all the flashcards
Terrace Value Calculation (Flat)
Terrace Value Calculation (Flat)
Signup and view all the flashcards
Terrace Rate (Above Shops/Offices)
Terrace Rate (Above Shops/Offices)
Signup and view all the flashcards
Study Notes
- Terrace valuation rules apply to both residential and commercial buildings
Terrace on Independent Bungalow (Residential)
- The valuation rate is 40% compared to the base residential rate.
- When selling development rights, new construction cost is calculated at 95% of the construction rate.
- The transfer/sale includes both land value and 95% new construction cost.
- If the base residential rate is Rs. 2000 per sq ft, the terrace value would be Rs. 800 per sq ft.
Terrace Above Flat (Sold Separately)
- The valuation rate is 35% compared to the flat rate.
- If a flat's value is Rs. 1000 per sq ft, the value of its separately sold terrace is Rs. 350 per sq ft.
Terrace Above Commercial Establishments (Shops/Offices)
- The valuation rate is 40% compared to the commercial rate.
- The valuation rate is calculated based on commercial rates.
Terrace Development Rights
- Valuation includes land value plus reduced construction cost.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Valuation guidelines for terraces on residential and commercial buildings. Includes rates for independent bungalows (40% of base rate) and flats (35% of flat rate). Also covers valuation of terrace development rights.
