What Is "Valuation Works" in Civil Engineering?
Valuation works refer to the systematic assessment of the worth or monetary value of immovable properties, such as land, buildings, or infrastructure assets. It plays a crucial role in financial planning, investment, insurance, taxation, legal documentation, and loan approvals.
🧱 In Simple Terms:
Valuation is figuring out how much a property is worth today, based on factors like size, location, construction type, usage, market rates, and depreciation.
🛠️ Types of Valuation in Civil Engineering Projects:
TypeUsed ForMarket Valuation----------Buying/selling property
Book Value (Depreciated Value)--------Accounting, financial reporting
Rental Valuation---------Estimating monthly/yearly rental income
Salvage Value-------Estimating remaining value after life cycle
Forced Sale Value------Value under quick sale/foreclosure scenarios
Fair Value (for banks/loans)-----Used by banks for mortgage or collateral assessment
Valuation for Government Use------Land acquisition, compensation, tax purposes