Building Estimation and Costing
Building Estimation and Costing is a vital part of Civil Engineering. No project can begin without the total Building Estimation and Costing done by the Engineer. The entire Cost of construction and the infrastructure used for the purpose of construction is estimated and the final costing is done on the basis of which a certain percentage of the Project cost is paid to the Engineer, the Architect and other consultants involved in the project.
Valuation is one such important part of Building Estimation and Costing. Valuation is done after the project is complete on the latest trends of the land prices in the market.
In this article, we will discuss what is Valuation and the six important purposes of Valuation.
Valuation
Valuation is the technique of estimating and determining the fair price or value of a property such as a building, a factory or other engineering structures of various types, land etc.