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Axis ecorp

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Here’s why India Needs a Standardised Valuation Metric for Property Market

Jun 12, 2021
| By: CNBCTV18Live
| Source Link: Click Here

It Comes from the Article

Everyone wants to get a good deal—this is especially true when purchasing a property. Real estate purchases are high-ticket items. A small error or lack of research while buying real estate is likely to haunt you for a long time to come.

How do you know if you’ve got a good deal? In the absence of standardised valuation metrics, it is often difficult to tell whether you have been short-changed.

Lack of valuation metrics in India

Not only do prices vary across the vast Indian real estate market, but they also tend to be different within a particular micro-market. For instance, within the confines of a locality in Delhi, rates could differ based on the project you have chosen, the builder, the view and elevation, and urgency on the buyer or seller’s part. As long as valuation is based on demand and supply, determining the financial value of any property investment is guesswork, at best.

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