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'Value of a building' indicates:
  • a)
    present value of a building
  • b)
    original cost of construction
  • c)
    loan taken for the construction of building
  • d)
    annual repair cost
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Value of a building indicates:a)present value of a buildingb)original ...
The value of the building refers to the current saleable value of the Structure or the sale price of the building is called the value of the building. It may change as per market conditions i.e. it may go higher or lower than the original cost.
The valuation of the building is done for the following purpose:
  • Buying or selling
  • Fixation of rent
  • Taxation
  • Security of Loans or Mortgage
  • Compulsory acquisition
  • Insurance
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Value of a building indicates:a)present value of a buildingb)original cost of constructionc)loan taken for the construction of buildingd)annual repair costCorrect answer is option 'A'. Can you explain this answer?
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