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Home > Forum > Chennai > Villivakkam > Property Selling > How do you appraise the market value of a property

How do you appraise the market value of a property

Q: I have a commercial space in a prime location of Vilivakkam. This space fetches a rental income of about Rs70000 per month . I am thinking of selling this property over the next few months. How do I go about finding the real market value of this property.

commercial office space
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Replies (2)
1
Hello Sir,
I recommend you to begin your search by researching recent sales of similar properties in the local area. Try to find sales of at least 3 properties that are comparable to your home. If possible, make sure that these properties were sold under normal conditions. Visit the office of a property broker and ask them that you want to sell your property....so how could you evaluate your property price?
Somesh Venkatesh


2
Hi Suresh,
Market value is basically an educated guess, but it can be fairly accurate if you apply the right method and consider all the important details. A number of factors may affect your homes market value, including external and internal characteristics, supply and demand, location etc.
Dushyant


3

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