PRINCIPLES THAT DETERMINE THE VALUE OF A PROPERTY

Substitution Principle - The value of the property is influenced by the cost of acquiring a comparable property, that is, having similar characteristics of design and construction, or functional use, than the property being considered Best office space in Lahore, Gulberg.
Principle of the highest and best use - A property reaches its highest value when it is given the most profitable use allowed by the legal and physical framework in which the property is cataloged. The determination of the use of a property must be part of all valuation. Since the appraiser tries to identify the economic factors that can be more lucrative to the different uses that can be given to the land in different stages.
External Factors - According to this principle, factors external to a property can influence the value of the property.
Supply and demand - The cost of any property will always be determined by the number of other similar properties for sale and its relation to the number of buyers in the market.
Change - Given its long life, there are factors that affect the value of properties, whether physical or economic .
Conformity, progression and regression - The value of a house that is out of tune with the others in the neighborhood can be effectively benefited if it is inferior in quality or maintenance than its neighbors (progression).

Improvements -   The contribution of an improvement to the value of the property is measured by its effect on the market value.
real estate appraisals

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