Age of property matters

Your property-related queries answered by Karan Rathod of ‘K Valuations’

Please provide valuation for 1983 constructed strong concrete building (without cracks) with three floors in good condition with build up area of 5, 500 square feet with an area of 520 square yards facing two roads near Asian Institute of Gastroenterology (AIG), Somajiguda. The house is vastu compliant with two garages, two electrical components and two municipal water connections. Wood work done in all the storage and building maintained in excellent conditions.

P.V.C. Chalapathi Rao

The property is located very near to a speciality hospital and has a lot of residential and commercial value. According to me, the cost of construction cost and other interior works in total would be close to Rs, 1,200 square feet. The total land rate in this area will be close to Rs.65,000 per square yard. Therefore, the total value of the property would be close to Rs.3.5 crore.

I would like to get your advice on a property constructed 14 years ago. Please let me know the value of independent house with a built up area of 1, 400 square feet with an undivided share of 300 square yards. It’s a single storey two bedroom house with all the basic amenities like Manjira water supply and has no BRS issues. Property is at Apuroopa township, Pragathi Nagar Panchayat area in Kukatpally.

While valuating the property, we also have to consider the age factor of a property. In this case, the property was constructed about 14 years ago. However, the land area for the property is close to 300 square yards, which is huge. The rate of the land would be close to Rs. 40,000 per square yard and the property cost would be anywhere between Rs. 1.3 crore and Rs. 1.4 crore.

Kindly provide valuation for our plot bearing no .91, survey no. 518, 522 at Vishnupuri Extension in Malkajgiri with a total area of 240 sq. yards. We have raised foundation with pillars up to six feet height but due to financial reasons we could not continue. Guide us with your valuable valuation so that we can sell at a reasonable rate.

Sujatha Uday Kumar

Since the construction of the property is yet to be completed, it will be tough to ascertain the overall value of the property. Since the property is just pillars of six feet height, the cost of the construction would be anywhere between Rs. 7 and Rs. 8 lakh. In Malkajgiri, the rate of the property varies depending on locality. However, the base rate in this region is close to Rs.20,000 per square yard and depending on the location of the property, it could be either more or less than the projected.

To enable readers make an informed choice and give them a rough idea about the ‘value’ of a property before they take the plunge, Karan Rathod of ‘K Valuations’, Begumpet has volunteered to offer his services free of cost. Readers along with their contact numbers can send in their query on valuations of their property to hyderabaddesk@thehindu.co.in, which will be responded through these columns. While all out efforts will be taken to provide accurate valuation of properties, readers are urged to do due diligence on their own before taking the big step. Mr. Rathod can also be reached at:kvaluations@gmail.com