Question

_____________ is the technique of estimating or determining the fair price or value of a property such as a building, a factory, other engineering structures of various types.

(a) depreciation

(b) capital value

(c) valuation

(d) taxation

The question was asked in an international level competition.

This is a very interesting question from Values, Tax, Funds & Rents etc topic in section Valuation, Reports Technical and Design Data of Civil Engineering Drawing

Answer 1

Right option is (c) valuation

For explanation: By valuation the present value of a property is determined. The present value of property may be decided by its selling price, or income or rent it may fetch. The value of property depends on its structure, life, maintenance, location, bank interest, legal control, etc. The value also depends on supply on demand and the purpose for which valuation is required.