Everyone in his/her life at some point evaluates their assets or real estate property and this value includes evaluation of market value and fair value . When it comes to real estate, Property Valuation needs a deep study and understanding about the subject with latest amendments, rules, acts, guidelines and notifications. Market value for properties in Mumbai has always been high and is still on the verge of increment as the developments are taking on a fast pace with the new inventions and technologies. Another reason for the hike in the market value is because the land parcels available in Mumbai are very less. Both concepts of Market Value and Fair Value are discussed below that will give you a deep knowledge about the market value, fair value and its difference. Market Value Market value in easy terms is defined as at what rate a property can be sold under normal conditions without any compulsion to buy or sell a property. Market value is basically an educated guess,...
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