Upgrad LLM

valuation of flat


 

Sir,

We jointly  have a residential property in mumbai.

For tax purpose I want to evaluate it's past value on year to year basis.

My understanding is that   :

On the basis of Maharastra Government yearly reckoner rate Rs./sq mt for the location, the value can be worked out for a particular year.

My question is..

Is it the right way to arrive the value of a flat?

What about the floor height, is it to be added or not? If yes , than how to work out?

How to work out and deduct the depreciation on yearly basis to arrive the correct value of the flat? Not the market value.

What will be the  share of liability in joint property taxation.? We do not envisage any dispute in share, but how to arrive, mutually to  document on retrospective date? Registration deed of the flat  is silent on share of it in between the joint  owners.

 

 
Reply   
 
Bcom LLB MBA

Dear Truth

There are various Valuation methods prevailing it is therefore advisable to hire the services of recognized property valuers who will be coming out with the right value

regards

Abhijeet

 
Reply   
 


LEAVE A REPLY


    

Your are not logged in . Please login to post replies

Click here to Login / Register  



 

  Search Forum








×

Menu

CrPC MASTERCLASS!     |    x