Q.
luckys
3585Views
December 17, 2021
Jagat Nawal
02024-06-03T12:54:48+00:00 June 3, 2024
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Hi, I was trying to sell my proeprty but before doing that, I wanted to learn about its resale value. I called a friend and asked him how to calculate resale value of flat. Here a few points that he had provided me about the same.
How to Calculate Resale Value of Flat?
Here are the points that he told me
He told me to utilise platforms like NoBroker to research market prices for similar properties in my location.
He also told me determine the cost of construction per square foot, typically ranging from 1200 to 1500 per square foot.
Then he asked me to multiply the area by the cost of construction per square foot to get the initial value of the building and amenities.
My friend suggested me to apply a depreciation rate of 1.5% per year over 60 years, with the property's value decreasing to around 10% of the initial value by the end of this period.
Finally, he asked me to add an estimated 40% of construction cost for overheads, incidental expenses, and promoter's profit to determine the total property value.
He also suggested me to calculate the reproduction cost by multiplying the initial cost of construction by the ratio of the current cost inflation index to the index when the flat was bought.
These are a few things that my friend suggested me to do to learn how to calculate resale value of flat. Hope this helps.
Sell your Property without Paying any Brokerage through NoBrokerRead More
How to calculate base price of a resale property?
NoBroker Forum
02021-12-28T18:21:58+00:00 December 28, 2021
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To calculate the price for a resale flat you need to consider various factors such as where the property is located, how old is the property and the market value of the property. There is a simple formula on how to know the price of a flat. The formula is :
Value or resale flat = value of the undivided share of land + depreciated value of building and amenities + value of overheads, expenses, etc.
To learn about other factors you can check the answer on
How To Know The Price Of An Old Flat?You will be able to calculate the resale value of the property more accurately after reading the answer to the question mentioned above.
Hope this will help you.
Read more:
What Will Happen To A Flat After 50 Years?Leave an answer
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