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What is the process for determining a fair price of a property? — Answer & Solution | Civexa

Estimation and Costing · Valuation

Valuation MCQ with answer and solution

Very easy level · Asked in State AE, State JE, GPSC AE

What is the process for determining a fair price of a property?

Solution

Concept

Valuation

Step-by-step solution

1. Valuation is the process of determining the fair price or worth of a property.

Explanation

Estimation gives the probable cost of a work to be built.

Correct answer: C) Valuation

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