Replacement Value or Reproduction Value or Reinstatement Value is defines as -
(a) the cost of reproduction of a similar Asset with similar specifications at the current Market price on the date of Valuation.
(b) 20 times the annual Rent
(c) market value of another similar property, sold in the same locality in recent times
(d) Insurance Value.
The correct Answer Is
(a) the cost of reproduction of a similar Asset with similar specifications at the current Market price on the date of Valuation
(a) the cost of reproduction of a similar Asset with similar specifications at the current Market price on the date of Valuation.
(b) 20 times the annual Rent
(c) market value of another similar property, sold in the same locality in recent times
(d) Insurance Value.
The correct Answer Is
(a) the cost of reproduction of a similar Asset with similar specifications at the current Market price on the date of Valuation
