The valuation method is depends on the purpose. An income generating property like hotels, cinemas, theatres etc. shall be valued profit method. For ordinary buildings, the detailed estimation method is considered as most accurate where as cost approach (adopting replacement value considering the depreciation) is prefered by most of the financial institutions like banks.
To calculate the depreciation, there are a few methods like straight line method, Constant Percentage method, Written Down Method etc. In India, Market approach is difficult due to reliable comparables are difficult to find out.
