Valuation should be realistic depending on the nature of property, its use potential and all other characteristics.A Valuer of land and Building need the knowledge of.
(i) Purpose, time and place of valuation.
(ii) Laws relating to valuation.
(iii) Building industry including method of construction, structural.
(iv) arrangements, specifications, type of foundations finishing and Services provided etc.
(v) Plant and machineries installed.