Real Estate Division

Definition

Real Estate is defined as the physical land and those human-made items, which attach to the land. It is the physical, tangible “thing” which can be seen and touched, together with all addition on, above, or below the ground.
The definition above-mentioned is consistent with Indonesian Agriculture Basic Law (Undang-Undang Pokok Agraria / UUPA No. 5/1960) which regulate the basic aspect of agricultural and the implementation.

(International Valuation Standard 2007, eight edition, Concept Fundamental to Generally Accepted Valuation Principles (GAVP), chapter 3.1 / Indonesian Valuation Standard 2007, Konsep dan Prinsip Umum Penilaian (KPUP) chapter 3.1)

Scope of Real Estate Valuation

Real Estate Valuation consist of : Residential properties (landed house, apartment unit), commercial properties (shopping mall, hotels, office buildings, golf course), land and building (factory, warehouse, hospital), toll-road, and other land improvement.

Valuation Approach

The methodologies and approached that are used: Sales Comparison Approach, Cost Approach, Income Approach.

Scope of Real Estate Valuation

Real Estate Valuation consist of : Residential properties (landed house, apartment unit), commercial properties (shopping mall, hotels, office buildings, golf course), land and building (factory, warehouse, hospital), toll-road, and other land improvement.

Valuation Approach

The methodologies and approached that are used : Sales Comparison Approach, Cost Approach, Income Approach.