Easements are certain rights connected with enjoyment o immovable property. The easement rights and obligation arise as a result of local or general custom. It is the right which the owner or occupier of a land possesses for the beneficial enjoyment of that land.
The Land on which the right of beneficial enjoyment has been created is called the dominant heritage (owner: Dominant owner)
The land on which easement is created is called the Servient heritage ( owner: Servient owner)
1. ARC 404 : PROFESSIONAL PRACTICE
B.ARCH VI SEMESTER : FEBRUARY 2015
INTRODUCTION
CHAPTER TOPIC
01 Understanding the basic concepts and terminology in architectural practice
02 The differences between architectural profession and other professional disciplines
03 A clear knowledge of code of conducts and ethics in profession
04 The knowledge of apex monitoring body to protect the interest of the profession
05 Role of an architect in conceptualizing, design proposal until the execution
procedures
06 Easements & Valuations
07 The legal dimension of professional practice, architect’s role as an arbitrator
08 A comprehensive understanding of office set up, office administration, selection
procedure for various posts, man power management within the office and
resource leveling
2. ARC 404 : PROFESSIONAL PRACTICE
B.ARCH VI SEMESTER : FEBRUARY 2015
MISCELLANEOUS TOPICS
EASEMENTS
Easements are certain rights connected with enjoyment o immovable
property. The easement rights and obligation arise as a result of local or
general custom. It is the right which the owner or occupier of a land
possesses for the beneficial enjoyment of that land.
The Land on which the right of beneficial enjoyment has been created is called
the dominant heritage (owner: Dominant owner)
The land on which easement is created is called the Servient heritage ( owner:
Servient owner)
3. ARC 404 : PROFESSIONAL PRACTICE
B.ARCH VI SEMESTER : FEBRUARY 2015
EASEMENTS
Easements right are acquired by the following ways:
1. By prescription
2. By express grant
3. By implied grant
4. By custom
When an owner allows people to pass through his land without any
objection or obstruction for a continuous period of 20 years or allows
the neighbor to enjoy light and air from his property, the easement
created is called Easement by prescription
4. ARC 404 : PROFESSIONAL PRACTICE
B.ARCH VI SEMESTER : FEBRUARY 2015
EASEMENTS
Easements right are acquired by the following ways:
1. By prescription
2. By express grant
3. By implied grant
4. By custom
When an owner permits people to pass through his land with the full
knowledge and consent to create some kind of right through a written
agreement, the easement created is called Easement by Express Grant
5. ARC 404 : PROFESSIONAL PRACTICE
B.ARCH VI SEMESTER : FEBRUARY 2015
EASEMENTS
Easements right are acquired by the following ways:
1. By prescription
2. By express grant
3. By implied grant
4. By custom
When an owner sells a rear portion of his property which does not have
an independent access, it is implied that he will permit the purchaser to
pass through his land, the thus easement created is called Easement by
Implied Grant
6. ARC 404 : PROFESSIONAL PRACTICE
B.ARCH VI SEMESTER : FEBRUARY 2015
EASEMENTS
Easements right are acquired by the following ways:
1. By prescription
2. By express grant
3. By implied grant
4. By custom
When people enjoy certain rights to make use of a piece of land for a
social activity year after year as a custom, it is said to be an Easement by
Implied Grant
7. ARC 404 : PROFESSIONAL PRACTICE
B.ARCH VI SEMESTER : FEBRUARY 2015
VALUATION
Valuation is defined as the process of determining the fair value of a
specific property for a specific purpose on a specified date.
Valuation is done using an established and appropriate method of
valuation.
Valuation is done by a specially qualified valuer wo has acquired
specialized training and experience.
8. ARC 404 : PROFESSIONAL PRACTICE
B.ARCH VI SEMESTER : FEBRUARY 2015
VALUATION
Valuation is done for a variety of reasons
1. Valuation for Sale or Purchase
2. Valuation for Legal purpose
3. Valuation for Taxation purpose
4. Valuation for Compulsory Acquisition
5. Valuation for Accounting purposes
6. Valuation for Insurance purposes
9. ARC 404 : PROFESSIONAL PRACTICE
B.ARCH VI SEMESTER : FEBRUARY 2015
VALUATION
Valuation is done for a variety of reasons
1. Valuation for Sale or Purchase
One of the most common purposes- prospective seller
quote the maximum, the purchaser offers the lowest
sum. An expert valuer determines the value on the
basis of a number of transaction that have taken place
in a particular are which is comparable in size,
location, condition and usage.
2. Valuation for Legal purpose
Required for legal purposes like obtaining a probate of
a will, division of assets among it owns or business
partners, determining the value for stamp duty or
court fee or
10. ARC 404 : PROFESSIONAL PRACTICE
B.ARCH VI SEMESTER : FEBRUARY 2015
VALUATION
Valuation is done for a variety of reasons
3. Valuation for Taxation purposes
Properties are valued for the purposed of deciding the
tax liability in the event of gifting or sale of property to
determine the tax required to be paid. This may in turn
decide the wealth tax that the seller may be required
to pay.
4. Valuation for Compulsory Acquisition
Whenever a public body needs a piece of privately
owned property, it is notified for acquisition. A valuer
prepares claim of compensation in which he values the
land under acquisition as per established norms.
11. ARC 404 : PROFESSIONAL PRACTICE
B.ARCH VI SEMESTER : FEBRUARY 2015
VALUATION
Valuation is done for a variety of reasons
5. Valuation Accounting purposes
Properties are periodically valued to determine the
value of assets of companies for accounting purposes (
to be included in annual reports to shareholder,
partners)
6. Valuation for Insurance Acquisition
Properties are valued for determining the “Insured
value” for the purpose of working out the amount of
premium the owner must pay to the insurance
company. (and for the compensation to be paid in the
event of loss due to any reason)
12. ARC 404 : PROFESSIONAL PRACTICE
B.ARCH VI SEMESTER : FEBRUARY 2015
APPRECIATION AND DEPRECIATION
Appreciation and depreciation are issues that come up
frequently on the Real Estate License Exam.
APPRECIATION is an increase in a property’s value
caused by factors like inflation, increasing demand,
and improvements to the property.
DEPRECIATION is a decrease in the value of a property
caused by lower demand, deflation in the economy,
deterioration, or the influences of other undesirable
factors.
13. ARC 404 : PROFESSIONAL PRACTICE
B.ARCH VI SEMESTER : FEBRUARY 2015
APPRECIATION AND DEPRECIATION
Deprecation is calculated mathematically but the basis
of calculation depends on the expert’s judgement
based on his experience.
Different method for calculating the depreciation of
a property
1. Accelerated Depreciation method
2. Straight-line Depreciation method
3. Sinking fund depreciation method
14. ARC 404 : PROFESSIONAL PRACTICE
B.ARCH VI SEMESTER : FEBRUARY 2015
APPRECIATION AND DEPRECIATION
1. Accelerated Depreciation method: Accelerated depreciation is the depreciation of fixed
assets at a fast rate early in their useful lives. This type of depreciation reduces the amount of
taxable income early in the life of an asset, so that tax liabilities are deferred.
2. Straight-line Depreciation method: Straight line depreciation is the default method used
to gradually reduce the carrying amount of a fixed asset over its useful life. The method is
designed to reflect the consumption pattern of the underlying asset, and is used when there is
no particular pattern to the manner in which the asset is to be used over time. Use of the
straight-line method is highly recommended, since it is the easiest depreciation method to
calculate, and so results in few calculation errors.
3. Sinking fund depreciation method: Under this method, a fixed amount is debited every
year to depreciation amount and credited to depreciation fund account instead of asset
account. The asset is shown at its original cost, in the books, in every year. The amount which
is credited in the sinking fund, is invested in gilt-edged securities. Sinking fund method makes
available a sum of money for the replacement of asset by maintaining separate provision
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References
1. http://www.coa.gov.in/home/home.htm
2. http://www.robertcoolidge.com/process-1.html
3. http://www.dummies.com/how-to/content/how-to-calculate-
appreciation-and-depreciation-for.html
4. http://www.accountingtools.com/straight-line-depreciation
5. Architectural Practice in India: Prof. Madhav Deobhakta & Ar.
Meera Deobhakta