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General terms we know that land will not depreciate But Is that Land will depreciate if yes??? What are the reaons kindly explain with examples... Thanks in advance 😃
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Land will definitely appreciate. Generally, land does not depreciate. Exceptions: In some cases, value of land may decline. For eg, - If the place surrounding the land becomes undesirable - If a drainage system is built near the land - If a graveyard is built near the land, people won't prefer to buy that land - If government forcibly acquires your land for say, the purpose of building a railway track in that way, they may give you compensation of less than the market appreciation value. and so on.
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