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Posted Date: 28 Jun 2009 Posted By: Rajeev Member Level: Diamond
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2007 Baba Saheb Bhimrao Ambedkar University Other Master's Degree M.C.S. Master of Valuation (MVRE/MVPM) - Real Estate / Plant and Machinery - MVRE / MVPM-05 Principles of Valuation - MVRE/MVPM - March 2007 Question paper
Date : Tuesday, 17-04-2007
Total Marks : 70
Time : 3-00 to 6-00
Note :
1. Answer any seven questions.
2. All questions carry equal marks.
1. Give five different types of value of the property and explain the different of each type by giving examples. [10]
2. (a) Explain the difference between real property and personal property [05]
(b) In your opinion valuations is an Art or Science ? Give reasons in support of your view. [05]
3. (a) What is the formula to work out Gross amount receivable at compound interest rate ? If a person deposits a sum of Rs. 25,000/- at 8% compond interest rate for 5 years period, what total amount will be receiveble by him at the end of 5 years? [05]
(b) A Lessor is offered a sum of Rs.45,000/-for his rights in a leasehold property, which consists of an income of net lease rent of Rs.500/- month from the lessee. Lease period for land is 99 years renewable for further period of 99 years. Advice as to whether price offered is fair. If not, what is the fair value of Lessor's right in the property, if expected yield rate is 8% on investment. [05]
4. What is the definition of "Market Value" as per International Valuation Standard? Explain giving example importance of each criteria set out in the definition. [10]
5. (a) What are the basic rights and responsibilities of a Lessee and a Sub-Lessee in a developed leasehold property ? [05]
(b) Explain, what is meant by "Lease for Life" type of lease. ? [05]
6. A fully rented, fully developed building yields Gross monthly rent of Rs.12,500/month. Property tax are Rs.30,000/Year. Land tax is Rs.550/ Year. Adopt Repairs expenses at 8% of gross rent and collection charges at 3% of gross rent. Rent Act is applicable. Calculate fair sale price of the property, if expected yield rate is 7%. [10]
7. (a) Explain with the help of supply and demand curve how equilibrium price of a commodity is determined in the market between buyers and sellers. [05]
(b) How would you define "Depreciation" ? Mention at least three basic factors which causes depreciation. [05]
8. Advice on fair sale price of the property, if plot area is 1200 sq, Mts.and ground floor bungalow builtup area is 400 Sq.Mts., in city of Mumbai. Prevalent land rate is Rs.50,000/-Sq.Mt.and F.S.I. is 2.00. Building replacement cost is Rs.12,000/Sq.Mt. Scrap value is Rs.300/SM. and age of bungalow is 40year. Bungalow is owner occupied. [05]
9. A lathe machine was purchesed in 1997 for Rs.110,000/-. Similar new lathe machine is now available at Rs.260000/-in 2007. Calculate its written down value in year 2007, if total life of lathe is 20 years. Also calculate its fair sale value in market in year 2007, adopting 10% as its scrap value. [10]
10. (i) Which are four basic classified group of factors, which affects the value of the real estate in the open market ? [05]
(ii) Narrate at least five factors of any two of such groups of factors which affects the market value of the real estate. [05]
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