Land valuation has its own specifics.
Land plots is unique commodity and one of the most profitable investments. Land plots valuation is currently topical because as a part of legal land relationships it is a basis for Azerbaijan land market development.
Verification of real land value is required for land purchase, sale and other land and land rights operations which are aimed at further land usage and generation of profit.
During land plots valuation either land ownership right or tenant right cost is to be estimated. Tenant right cost depends heavily from tenant competence, right expiration date, encumbrance of tenant right, other persons’ rights for the object being valuated and designation (i.e. permitted use) of the land.
It is worth mentioning that should construction of real estate objects on the land in question be planned, it’s valuation must be performed with taking into account current state of service lines and possibility of connection to existing networks. Another important land valuation factor in this case would be geological and geodesic reports which allow one to estimate structure, properties and state of ground, surroundings relief, and construction expenses.