For the valuation of flats and apartments we consider location, age and condition of the flat, view from the property, floor plan, market value of comparable properties, clearance rates, and so on. There are several methods for calculating the resale value of an apartment.
The resale value of a flat is the price that it is predicted to sell for in the near future. Many factors are considered when assessing the resale value, including any changes done to the property, its general age, and the condition of the flat.
For a resale flat, the value of the land, the expected life of the building, the age of the structure, and the available services must all be considered. The worth of a resale flat is the total of the value of an undivided portion of land (UDS), the depreciated value of the building and amenities, and the value of overheads, costs, and the promoter’s profit.
The value of an undivided share of land (UDS) is calculated by multiplying the cost per square foot by the value of the UDS. Following that, the value of depreciated value is estimated, taking the age of the building into consideration, and is computed on the basis of the building’s construction cost.
The value of overhead and incidental expenditures is also assessed. The three determined values of that property are added together to determine its resale value.