D3. Value of the Property 142. Fair Market Value (FMV) 143. Appreciation 144. Depreciation 145. Real Estate Appraisal 146. Assessed Value 147. Capitalization Rate (Cap Rate) 148. Capital Gain 149. Capital Loss 150. Economic Obsolescence 151. Liquidity 152. Net Operating Income (NOI) 153. Replacement Cost 154. Title Insurance 142. Fair Market Value (FMV) Fair market value is the reasonable selling price of the property in an open and competitive market, where the seller and buyer have a good amount of knowledge about it. This is the price that a buyer would likely pay for the property and the seller would make the trade without any pressure. 143. Appreciation The increase in the value of a property over a period of time depending on various factors like market demand and supply, location improvements, area development, or interest rates. Currently the average annual property appreciation rate in India in 6%, which differs significantly from city to city. 144. Depreciation The annu...