Legal Templates
Sales Appraisal Form

Sales Appraisal Form for India

Sales Appraisal Form Template for India

A comprehensive property valuation document used in the Indian real estate market that provides a detailed assessment of a property's market value, condition, and characteristics. The form complies with Indian real estate regulations, including RERA guidelines and professional valuation standards, while incorporating local market considerations and property laws. It serves as an official record of property appraisal, providing crucial information for property transactions, financing decisions, and investment analysis. The document includes detailed property analysis, market comparisons, and value assessments, making it suitable for various purposes from sale transactions to mortgage applications.

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What is a Sales Appraisal Form?

The Sales Appraisal Form is a crucial document in Indian real estate transactions, designed to provide an objective and professional assessment of property value and characteristics. This document is typically used when a property needs to be valued for sale, purchase, mortgage, insurance, or investment purposes. The form incorporates requirements from various Indian regulations, including the Real Estate (Regulation and Development) Act, 2016, and professional valuation standards. It contains comprehensive information about the property's physical characteristics, market conditions, location advantages, and other relevant factors that influence its value. The Sales Appraisal Form serves as a key reference document for multiple stakeholders, including buyers, sellers, financial institutions, and real estate professionals, providing them with reliable information for decision-making in property transactions.

What sections should be included in a Sales Appraisal Form?

1. Property Identification: Basic details of the property including address, lot number, boundaries, and registration details

2. Owner Information: Details of current property owner(s), including contact information and ownership documentation

3. Property Description: Detailed description of the property including built-up area, land area, number of rooms, age of construction, and amenities

4. Location Analysis: Assessment of the property's location, including neighborhood characteristics, proximity to facilities, and infrastructure

5. Construction & Condition: Evaluation of building quality, maintenance status, and any structural issues or repairs needed

6. Market Analysis: Current market conditions, recent comparable sales, and market trends in the area

7. Valuation Methodology: Description of the approach used for valuation (e.g., comparable sales, income approach, cost approach)

8. Value Assessment: Detailed breakdown of the estimated market value with supporting calculations

9. Declaration: Appraiser's certification of independence and compliance with professional standards

What sections are optional to include in a Sales Appraisal Form?

1. Rental Income Analysis: For income-generating properties, analysis of current and potential rental income

2. Development Potential: Assessment of property's development or renovation potential, including zoning regulations

3. Environmental Factors: Evaluation of environmental issues or risks affecting the property

4. Agricultural Land Assessment: Specific evaluation criteria for agricultural properties including soil quality and irrigation

5. Heritage Considerations: For heritage properties, assessment of historical significance and associated regulations

6. Commercial Analysis: For commercial properties, analysis of business potential and commercial viability

What schedules should be included in a Sales Appraisal Form?

1. Photograph Schedule: Comprehensive photographs of the property, including interior, exterior, and specific features

2. Property Documents: Copies of relevant property documents including title deed, tax receipts, and approvals

3. Location Maps: Detailed maps showing property location, access routes, and neighboring developments

4. Comparable Properties: Detailed analysis of comparable properties used in valuation

5. Building Plans: Approved building plans, floor plans, and site plans

6. Market Data: Supporting market data, including recent sales data and market trends

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Jurisdiction

India

Publisher

Genie AI

Document Type

Evaluation Form

Sector

Corporate Governance

Cost

Free to use
Relevant legal definitions
Appraiser
Market Value
Subject Property
Built-up Area
Carpet Area
Super Built-up Area
Floor Space Index (FSI)
Circle Rate
Ready Reckoner Rate
Valuation Date
Comparable Properties
Fair Market Value
Encumbrance
Title Deed
Property Documents
Occupancy Certificate
Development Rights
Zoning Regulations
Land Use
Property Classification
Marketability
Highest and Best Use
Depreciation
Cost Approach
Income Approach
Market Approach
Improvements
Fixtures and Fittings
Legal Description
Easements
Valuation Report
Municipal Authority
RERA
Property Tax Assessment
Stamp Duty
Registration Charges
Deed of Declaration
Approved Plan
Common Areas
Building Bylaws
Clauses
Property Identification
Property Description
Ownership Details
Valuation Methodology
Market Analysis
Assumptions and Limiting Conditions
Confidentiality
Professional Liability
Declaration of Independence
Compliance Statement
Data Protection
Document Authenticity
Site Inspection
Valuation Standards
Property Rights
Environmental Considerations
Legal Compliance
Professional Qualifications
Conflict of Interest
Disclaimer
Information Accuracy
Use Restrictions
Property Access
Third Party Rights
Report Distribution
Intellectual Property
Relevant Industries

Real Estate

Banking & Financial Services

Property Development

Construction

Legal Services

Insurance

Property Management

Urban Planning

Agriculture (for agricultural properties)

Commercial Property

Relevant Teams

Real Estate

Valuations

Legal

Property Management

Sales

Mortgage Services

Risk Assessment

Asset Management

Investment Analysis

Property Development

Compliance

Relevant Roles

Real Estate Appraiser

Property Valuer

Real Estate Agent

Mortgage Officer

Property Developer

Real Estate Lawyer

Investment Analyst

Property Manager

Real Estate Consultant

Banking Relationship Manager

Insurance Underwriter

Asset Manager

Property Portfolio Manager

Industries
The Real Estate (Regulation and Development) Act, 2016 (RERA): Regulates real estate transactions and ensures transparency in property dealings. The appraisal form must comply with RERA guidelines for property valuation and disclosure requirements.
The Indian Contract Act, 1872: Governs the basic principles of contract formation and enforcement in India. The appraisal form, being a potential basis for contract, must adhere to these fundamental contract law principles.
Consumer Protection Act, 2019: Protects consumer interests and rights. The appraisal form must include fair and transparent disclosure of information to protect consumer interests in property transactions.
Registration Act, 1908: Governs the registration of documents related to property transactions. The appraisal form should acknowledge registration requirements for subsequent property transactions.
The Transfer of Property Act, 1882: Regulates the transfer of property between parties. The appraisal form must consider the legal requirements for property transfer as outlined in this Act.
Wealth Tax Act, 1957: Although wealth tax was abolished in 2015, the principles of property valuation established under this act are still relevant for appraisal purposes.
Professional Standards of Practice (IBBI Valuation Rules): Sets standards for professional valuation practices in India. The appraisal form should conform to these professional standards for property valuation.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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