Property value is estimated using the built-up area multiplied by the rate per square foot in the locality, then adjusted for factors like property age (depreciation), floor level, amenities (parking, gym, pool), and condition. This gives a market-comparable estimate, not an official valuation.

Market value is the actual price at which properties are being sold in a locality, determined by demand and supply. Guideline value (or circle rate / ready reckoner rate) is the minimum value set by the government for stamp duty calculation. Market value is usually higher than guideline value.

Property value typically depreciates with age due to structural wear. A 5-10 year old property may lose 5-10% compared to new construction, while a 20+ year old property could see 20-30% depreciation. However, prime locations and well-maintained buildings depreciate much less.

Covered car parking (adds 3-5%), elevator access, 24/7 security, power backup, and a swimming pool/gym/clubhouse typically add 5-15% to the property value. Proximity to metro stations, schools, and hospitals also significantly impacts value but are location factors rather than amenities.