16 Valuation · 16.1 Valuation principles and terminology
16.1.3 Characteristics of landed property and factors affecting demand and value
Land is immovable, durable, unique (heterogeneous) and fixed in total supply, traded in an imperfect, heavily regulated market; its value is driven by a derived demand that depends on location, access, permitted use, title and the general economy.
- MPSC ATP
- Standard level
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Key terms
- landed property
- immobility
- indestructibility
- durability
- heterogeneity
- fixed supply
- inelastic supply
- high unit value
- imperfect market
- legal regulation
- title
- derived demand
- economic rent
- transfer earnings
- location
- accessibility
- infrastructure
- zoning
- FSI
- reservation
- frontage
- shape
- topography
- neighbourhood
- interest rates
- population growth
What this note covers
- Core factsFoundation
- ExplainedStandard
- DeeperAdvanced
- Mains writingMains writing
- Common trapsFoundation
- Quick revisionFoundation
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