Sale!
10%

VALUATION OF REAL PROPERTIES

400.00 360.00

By RANGWALA

10th Edition 2020 (Second Reprint) (Paperback)
ISBN : 9789385039010
440+ 16 = 456 Pages
Size : 17 cm × 24 cm × 1.9 cm
Weight : 0.680 kg

Download PDF

Category:

Share this product

Description

An attempt has been made by the author in this treatise to explain in simple language the basic
principles of Valuation of Real Properties. The subject matter is characterized by the clear,
methodical and also step-by-step treatment. The presentation is comprehensive and easy-tofollow.
The subject matter of this edition has been arranged in 19 chapters, such as: Value, Investment
in Real Property, Interests in Real Property, Methods of Valuation, Outgoings, Depreciation,
Valuation of Licensed Premises, Valuation of Life Interests, Valuation of Rating, Valuation of
Agricultural Lands, Finance for Investment in Real Properties, Valuation Tables, Miscellaneous
Topics, Easements, Standard Rent, Compulsory Acquisition of Land, The Transfer of Property
Act, Urban Land Ceiling Act, Typical Problems.
Appendix I deals with 34 important judgements and decisions pertaining to the subject. Appendix II contains 8 useful Valuation Tables. Appendix III provides 37 Questions and Opinions/
Answers.
This edition contains
* 134 Typical solved problems;
* 213 Questions at the end of all the chapters;
* 50 Useful tables;
* 12 Neatly drawn self-explanatory diagrams.
The subject of valuation has attained a high degree of importance at present and it is now accommodated in the syllabi of most of the Universities and Institutions.
It is hoped that the book in the present form would satisfy the need of the Civil Engineering
students preparing for Degree Examinations of all the Indian Universities, Diploma Examinations conducted by various Boards of Technical Education, Certificate Courses as well as for
the A.M.I.E., U.P.S.C., G.A.T.E., I.E.S. and other similar competitive and professional examinations. It should also prove of interest to the practising professionals. It will also serve as
the most useful reference book for practising valuers of real estates, tax consultants, lawyers,
advocates, etc.

Additional information

Weight 0.68 kg
Dimensions 17 × 1.9 × 24 cm
Author Name

Book Edition

ISBN

Content

1 : VALUE
2 : INVESTMENT IN REAL PROPERTY
3 : INTERESTS IN REAL PROPERTY
4 : STANDARD RENT
5 : METHODS OF VALUATION
6 : OUTGOINGS
7 : DEPRECIATION
8 : VALUATION OF LICENSED PREMISES
9 : VALUATION OF LIFE INTERESTS
10 : VALUATION FOR RATING
11 : VALUATION FOR AGRICULTURAL LANDS
12 : FINANCE FOR INVESTMENT IN REAL PROPERTIES
13 : VALUATION TABLES
14 : MISCELLANEOUS TOPICS
15 : EASEMENTS
16 : COMPULSORY ACQUISITION OF LAND
17 : THE TRANSFER OF PROPERTY ACT
18 : URBAN LAND CEILING ACT
19 : TYPICAL PROBLEMS
APPENDIX I : IMPORTANT JUDGMENTS AND DECISIONS
APPENDIX II : VALUATION TABLES I TO VIII
APPENDIX III :QUESTIONS AND OPINION/ANSWERS
BIBLIOGRAPHY
INDEX

Details Content

Chapter 1 VALUE

1-1. General
1-2. Real properties and personal properties
1-3. Differences between the real properties and personal properties
1-4. Valuation
1-5. Doctrine of estate
(1) Free tenure (2) Unfree tenure
1-6. Types of estates in England
(1) Life estate (3) Fee simple estate
(2) Fee tail estate
1-7. Land system in India
(1) Zamindari or landlord tenure system
(2) Malguzari land tenure system
(3) Mahalwari land tenure system
(4) Raitwari or independent land tenure system
1-8. Cost, price and value
(1) Cost (3) Value
(2) Price
1-9. Concept of the term value
(1) Utility (3) Demand
(2) Scarcity (4)Transferability
1-10. Purposes of valuation
(1) Betterment charges (6)Insurance
(2) Balance-sheet (7)Mortgages
(3) Buying and selling of (8)Reinstatement
the properties (9)Rent determination
(4) Compulsory acquisition (10) Security of loans
(5) Court fees (11)Taxation or fiscal purpose
1-11. Different forms of value
(1) Accommodation value (9) Monopoly value
(2) Annual value (10) Potential value
(3) Book value (11)Rateable value
(4) Distress value (12)Replacement value
(5) Goodwill value (13) Salvage value
(6) Highest and best use (14) Scrap value
value (15) Sentimental value
(7) Liquidation value (16) Speculative value
(8) Market value
1-12. Supply and demand forces
(1) Supply side
(2) Demand side
1-13. Occupation value and investment value
(1) Government Acts
(2) Intensity of demand
(3) Trade conditions
1-14. Factors affecting changes in market value
(1) Changes in building technology
(2) Changes in fashion and taste
(3) Changes in proportion of single people to married people
(4) Changes in quality of area
(5) Changes in the age distribution of the population
(6) Designs of property
(7) Means of communication
(8) Migration tendencies
(9) Money supply
(10) Planning control
(11) Population strength
(12) Unstable time
1-15. Concepts of right of compulsory purchase and value in India
1-16. Emergence of profession of real estate valuation in India
1-17. Classification of the valuers
1-18. Role of the valuer
(1) Acknowledgment of market conditions
(2) Competency
(3) Cost of outgoings
(4) Effect of statutes
(5) General experience
(6) Knowledge of building costs
(7) Legal complications
(8) Specialised buildings
(9) Value and cost

1-19. New horizons of valuation
(1) Environment (3)Rapid transit system
(2) Neighbourhood (4)Time sharing premises
QUESTIONS 1

Chapter 2 INVESTMENT IN REAL PROPERTY

2-1. General
2-2. Characteristics of land
2-3. Investment
2-4. Investment market
(1) Liquidity preference theory
(2) Loanable fund theory
2-5. Investment opportunities
(1) Articles for use
(2) Gilt-edged securities
(3) Local authority loans
(4) Insurance
(5) Fixed deposits in banks
(6) Company deposits
(7) Small Saving Schemes of Government of India
(8) Relief bonds of Reserve Bank of India
(9) Mutual fund schemes
(10) Gold exchange traded funds
(11) Units of the Unit Trust of India
(12) Convertible debentures
(13) Shares
(14) Real property as an investment
2-6. Characteristics of ideal investment
(1) Capital appreciation prospects
(2) Costs of purchase and sale
(3) Divisibility of holdings
(4) Ease of purchase and sale
(5) Security of income
(6) Security of capital
2-7. Interest on capital
2-8. Nature of real property
(1) Amount of investment (6)Influence on yields
(2) Central market (7)Joint ownership
(3) Clearance of title (8) Physical inspection
(4) Government action (9) Durability
(5) Heterogeneity (10) Source of income
2-9. Factors affecting real property market
(1) Climatic conditions (6)Lack of market information
(2) Communications (7)Local economy
(3) Fashion and local (8) Potentiality
demand (9) Services
(4) Government policies (10) State of repair
(5) Individual aspects of (11)Time element
property (12)Topography of the area
2-10. Determination of value of real property
2-11. Estate brokers
QUESTIONS 2

Chapter 3 INTERESTS IN REAL PROPERTY

3-1. General
3-2. Types of interests
3-3. Freehold interests
(1) Law of the land (2)Right of others
3-4. Leasehold interests
(1) Reasons for creating leasehold interest
(2) Nature of leasehold interest
(3) Renewal and extension of leases
(4) Theory of sinking fund
(5) Lessor and lessee
(6) Forms of lease
(7) Lease and license
3-5. Difference between freehold and leasehold property
3-6. Mortgage
(1) Amount of loan (6) Subsequent mortgages
(2) Insurance (7)Third party guarantee
(3) Leasehold property (8)Types of mortgage lenders
(4) Period of loan (9) Valuation
(5) Remedies to recover loan

3-7. Reverse mortgage
(1) Difference between reverse mortgage and other home
loans
(2) Comparison between reverse mortgage and forward or
regular mortgages
3-8. Development process
3-9. Typical problems
QUESTIONS 3

Chapter 4 STANDARD RENT

4-1. General
4-2. Objects of Rent Act
4-3. Meaning of standard rent
4-4. Exemptions from the Rent Act
4-5. Process of fixing standard rent
4-6. Methods of ascertaining standard rent
(1) Comparative method
(2) Investment theory
4-7. Important factors
(1) Cost of construction
(2) Loading and apportionment of land value
(3) Period of first letting
4-8. Inheritance of tenancy right
(1) Business premises
(2) Lone tenant
(3) Members of family
(4) Single person
(5) Transfer by will
4-9. Paying guests and Rent Act
4-10. Recovery of possession from tenant by landlord
(1) Bad behaviour of tenant (4) Failure to pay rent
(2) Domestic animals (5) Personal requirement of
(3) Erection of permanent landlord
structure (6) Undesired use of property
4-11. Conclusion
(1) Application (6) Permitted increases
(2) Cut-off period (7)Repairs and tax obligations
(3) Cut-off rent limit (8) Smooth legal procedure
(4) Exemptions (9)Take-over of old buildings
(5) Legalising the pugree
4-12. Typical problems
QUESTIONS 4

Chapter 5 METHODS OF VALUATION

5-1. General
5-2. Methods of valuation for open lands
(1) Comparative method
(2) Abstractive method
(3) Belting method
5-3. Methods of valuation for lands with buildings
5-3-1. Rental method
(1) Definition of rent
(2) Characteristics of land
(3) Theory of economic rent
(4) Rent in popular sense
(5) Determination of rental value
(6) Effect of legislation
(7) Effect of capital improvements on rental value
(8) Procedure of method
(9) Rate of interest
(10) Rule 1BB of Wealth-tax Act
(11) Schedule III, Part B of Wealth-tax Act
5-3-2. Direct comparisons of the capital value
5-3-3. Valuation by reference to profits
5-3-4. Valuation based on the cost or contractor’s method
5-3-5. Residual or development method
5-4. Conclusion
5-5. Typical problems
QUESTIONS 5
VALUATION OF REAL PROPERTIES
DETAILED CONTENTS

Chapter 6 OUTGOINGS

6-1. Definition
6-2. Usual types of outgoings
(1) Municipal taxes
(2) Government taxes
(3) Annual repairs and maintenance
(4) Management and collection
(5) Insurance
(6) Vacancies and bad debts
(7) Sinking fund
(8) Miscellaneous
6-3. Typical problems
6-4. Gross income and net income
6-5. Conclusion
QUESTIONS 6

Chapter 7 DEPRECIATION

7-1. Meaning of the term
7-2. Depreciation as cost in operation
7-3. Depreciation as decrease in worth
7-3-1. Physical conditions
7-3-2. Functional obsolescence
(1) Inadequacy or over-adequacy
(2) Lacking in utility
(3) Obsolete necessities
(4) Outmoded design
(5) Out of the way or odd design
7-3-3. Economic obsolescence
(1) Changes in character (3) Nearness to nuisances
and use (4) Over supply
(2) Changes in laws (5) Social changes
7-4. Difference between depreciation and obsolescence
7-5. Methods for estimating cost depreciation
(1) Straight-line method
(2) Constant percentage method
(3) Quantity survey method
(4) Sinking fund method
(5) Sum of the digits method
(6) Unit cost method
7-6. Cost of construction
(1) Area of building
(2) Cubical contents of building
(3) Detailed or itemwise method
7-7. Cost depreciation and value depreciation
7-8. Reproduction cost and replacement cost
7-9. Depreciation and depletion
7-10. Conclusion
7-11. Typical problems
QUESTIONS 7

Chapter 8 VALUATION OF LICENSED PREMISES

8-1. General
8-2. General principle of valuation
(1) Closing of business (2) Liabilities
8-3. Valuation of a cinema
(1) First method (2) Second method
8-4. Valuation of a hotel
(1) Important factors (2) Aspects
8-5. Typical problems
QUESTIONS 8

Chapter 9 VALUATION OF LIFE INTERESTS

9-1. General
9-2. Types of life interest
(1) Lessee for life (2) Tenant for life
9-3. Mortality tables
9-4. Compilation of mortality tables
9-5. Application of mortality tables
9-6. Jellicoe’s formula
9-7. Typical problems
QUESTIONS 9

Chapter 10 VALUATION FOR RATING

10-1. General
10-2. Definitions
(1) Assessment (4) Annual value
(2) Rate and tax (5) Rateable value
(3) Rate-payer
10-3. Principles of rating
(1) Principle of Communibus Annis
(2) Principle of Rebus Sic Stantibus
10-4. Rent as evidence of annual value
(1) Benefits to owner (5) Property on lease
(2) Foresight of tenant (6) Repairs of existing building
(3) Occupied by owner (7) Short-term tenancies
(4) Premium (8) Special circumstances
10-5. Hypothetical tenant and hypothetical rent
(1) Actual occupier (6) Special necessities of actual
(2) Actual rent occupier
(3) Adoption of principle (7) Standard rent
(4) Competition
(5) Residential accommodation of staff
10-6. Exemptions from rateability
(1) Charitable institutions
(2) Properties of Government
(3) Houses of ambassadors
(4) Literary and scientific societies
(5) Public religious places
(6) Land struck with sterility
(7) Properties of local body
(8) Special properties
(9) Burial grounds
(10) Miscellaneous
10-7. Process of assessment
10-8. Methods of assessment
(1) Direct or indirect rental evidence
(2) Contractor’s test
(3) Profit method
(4) Site value method
10-9. Conclusion
QUESTIONS 10

Chapter 11 VALUATION FOR AGRICULTURAL LANDS

11-1. General
11-2. Importance
(1) Crop loans (3) Investment loans
(2) Development loans
11-3. Factors affecting value of agricultural land
(1) Cottages and buildings (6) Size of farm
(2) Fencing and gates (7) Title of land
(3) General situation (8) Types of crops
(4) Quality of soil (9) Water supply and electricity
(5) Roads and approaches
11-4. Methods of valuation of agricultural lands
11-4-1. Income capitalisation method (ICM)
11-4-2. Sales statistics method (SSM)
(1) Cottages and buildings (3) Valuation date
(2) Field-to-field valuation
11-5. Agricultural land and direct tax laws
QUESTIONS 11

Chapter 12 FINANCE FOR INVESTMENT IN REAL

PROPERTIES
12-1. General
12-2. Terms of borrowing
(1) Rate of interest (3) State of economy
(2) Reputation of borrower (4) Type of property
12-3. Sources of borrowing
(1) For residential properties
(2) For commercial and industrial properties

12-4. Gearing and equity
(1) Low-geared
(2) High-geared
(1) Cost of borrowing
(2) Increase in interest
(3) Increase in rent
12-5. Conclusion
12-6. Typical problems
QUESTIONS 12

Chapter 13 VALUATION TABLES

13-1. General
TABLE I: To find the amount to which Re. 1/- will accumulate
at the end of a given term at compound interest
TABLE II: To find the present value of Re. 1/- receivable at the
end of a given term
TABLE III: To find the amount to which Re. 1/- per annum invested
at the end of each year will accumulate in a given time
at compound interest
TABLE IV: To find the amount of the annual sinking fund for the
redemption of Re. 1/- capital
TABLE V: To find the present value of Re. 1/- per annum for a
given number of years allowing simple interest on the
capital and accumulation of an annual sinking fund
TABLE VI: To find Y.P. of a reversion to a perpetuity after a given
number of years
TABLE VII: To find the annuity Re. 1/- will purchase on the single
rate principle
TABLE VIII: To find the depreciation percentage based on sinking
fund method

Chapter 14 MISCELLANEOUS TOPICS

14-1. General
14-2. Accommodation land and accommodation works
14-3. Amortization
14-4. Annuity
14-5. Capitalised value
14-6. Capital gain tax and cost inflation index
14-7. Deferred or reversionary land value
14-8. Dilapidations
14-9. Discounted cash flow
(1) Net present value (or N.P.V.) method
(2) Internal rate of return (or I.R.R.) method
14-10. Encumbrance factor
14-11. Floating F.S.I.
14-12. Forms of rent
(1) Rack rent (10) Standard rent
(2) Head rent (11) Nominal rent
(3) Leasehold or lease rent (12) Acknowledgement rent
(4) Statutory rent (13) Situation rent
(5) Ground rent (14) Monopoly rent
(6) Improved rent (15)Intangible rent
(7) Profit rent (16) Sitting rent
(8) Annual or monthly or (17)Rent charge
weekly rent (18) Gross rent
(9) Contractual rent (19) Net rent
14-13. Life of structures
14-14. Mesne profits
14-15. Mobilisation fund
14-16. Property tax valuation: (municipal taxation)
14-17. Rate of interest
(1) Money and banking (5) Factories and warehouses
(2) Bank rate (6)Residential properties
(3) Shops (7) Agricultural properties
(4) Offices
14-18. Record of rights
(1) Category of land (6) Nature of holding
(2) Classification of land (7) Occupant of land
(3) Encumbered land (8) Period of validity
(4) Holder of land (9)Restriction on transfer
(5) Land under acquisition or reservation

14-19. Rent fixation
14-20. Stamp duty
14-21. Valuation as a going concern
14-22. Valuation under Direct Tax Laws
(1) Valuation under Income Tax Act
(2) Valuation under Wealth-tax Act
(3) Valuation under Gift Tax Act
14-23. Year’s purchase
QUESTIONS 14

Chapter 15 EASEMENTS

15-1. General
15-2. Definition
15-3. Essential characteristics of easements
15-4. Creation of easements
(1) By grant
(2) By necessity
(3) By quasi-necessity
(4) By prescription
(5) By lost grant presumed from immemorial user
(6) By custom
(7) By transfer of dominant heritage
(8) By legislation
(9) By the operation of the doctrine of acquiescence
15-5. Extinguishment of easements
(1) By dissolution of right of servient owner
(2) By release
(3) By revocation
(4) By expiration of period
(5) By happening of event
(6) By end of necessity
(7) By easement becoming useless
(8) By permanent change in dominant heritage
(9) By permanent change in servient heritage due to
superior force
(10) By destruction of either heritage
(11) By unity of ownership
(12) By total non-enjoyment
15-6. Easements and natural rights
15-7. Effect on valuation due to easement
15-8. Typical problems
QUESTIONS 15

Chapter 16 COMPULSORY ACQUISITION OF LAND

16-1. General
16-2. The Land Acquisition Act, 1894
(1) Basic principles
(2) Procedure under The Land Acquisition Act, 1894
16-3. Important aspects of the L.A. Act, 1894
(1) Public purpose
(2) Proposal for acquisition
(3) Compensation
(4) Solatium
(5) Severance
(6) Injurious affection
(7) Loss of earnings
16-4. Land Acquisition, Rehabilitation and Resettlement (LARR) Bill
16-5. Conclusion
QUESTIONS 16

Chapter 17 THE TRANSFER OF PROPERTY ACT

17-1. General
17-2. Meaning of transfer
(1) Family arrangement
(2) Partition
17-3. Definition of transfer of property
17-4. Requirements of a valid transfer
17-5. Contingent interest
17-6. Conditional transfer
17-7. Sales of immovable property
(1) Rights and liabilities of seller
(2) Rights and liabilities of buyer
17-8. Mortgages of immovable property
(1) Simple mortgage
(2) Mortgage by conditional sale
(3) Usufructuary mortgage
(4) English mortgage
(5) Mortgage by deposit of title deeds
(6) Anomalous mortgage
17-9. Leases of immovable property
17-10. Exchanges
17-11. Gifts
17-12. Actionable claims
17-13. Conclusion
QUESTIONS 17

Chapter 18 URBAN LAND CEILING ACT

18-1. General
18-2. Selection of towns
18-3. Objects of the Act
18-4. Important provisions in the Act
(1) Definitions
(2) Transfer of vacant land
(3) Acquisition of excess land
(4) Payment of amount for the acquired vacant land
(5) Distribution of excess vacant land
(6) Exemptions
(7) Construction of future residential buildings
(8) Procedural and miscellaneous matters
18-5. Effects of the U.L.C. Act
(1) Absence of skyscrapers
(2) Administrative arrangement
(3) Danger of too many houses for weaker sections
(4) Development of small towns
(5) Heterogenous communities
(6) Role of urban development authorities
(7) Valuation of urban properties
18-6. Summary
QUESTIONS 18

Chapter 19 TYPICAL PROBLEMS
Appendix I IMPORTANT JUDGMENTS AND DECISIONS
Appendix II VALUATION TABLES I TO VIII
Appendix III QUESTIONS AND OPINION/ANSWERS
BIBLIOGRAPHY
Index

Reviews

There are no reviews yet.

Only logged in customers who have purchased this product may leave a review.