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Property valuation refers to the process of assessing and determining the current market value of a property. This evaluation takes into account various factors, including supply and demand dynamics, the size of the property, the quality of construction, its location, and the level of connectivity to essential services and infrastructure.
Property valuation holds significant importance as it provides a precise assessment of your property's current net worth. This information can be particularly beneficial when seeking loans or during the process of selling the property.
It is a property for which the lessee owns temporary ownership (for a fixed period) and after the completion of time, the property goes to its original owner/lesser, until the contract is renewed.
A property for which all ownership rights are fully transferred to the buyer is referred to as freehold property.
It is always advised to convert a Leasehold property into a Freehold property because you will become the sole owner of it. For this, you need to get the sale-deed and get the property registered on your name.