Friday, February 28, 2020

Property Development Essay Example | Topics and Well Written Essays - 3000 words

Property Development - Essay Example With the help of a case example the paper will mainly highlight the merits of traditional residual valuation approach over other valuation methods. Property valuation and different property valuation techniques has been a subject of intense discussion between researchers, academicians and developers. Different approaches to property valuation have been widely contested between different stakeholders. The issue of property appraisal often takes socio-political color due to the range of stakeholders directly affected by the process. According to Williams and Ventolo (2001, p-65), market value means the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably and assuming the price is not affected by undue stimulus. Though the theoretically property valuation is defined by some others Hamid (1996)"as means to interpret market without the personal bias, value, emotion and poor assumption", property appraisal is often looked from a personal perspectives of buyers and sellers. Kahr and Thomsett (2005; p-48) states that valuation is distinguished via attributes of properties and markets; further classification of value are based upon the priorities of investors or owners, including cash flow and potential rental income tax benefits or limitations and perception of future growth in market value. Principles that guide the valuation are: Progression: this principle implies that the value of property will increase due to market demand and better locality. Regression: this principle implies that opposite of above principle also holds true when the value of a property may decrease due to negative market sentiments. Conformity: The principle states that valuation of property tends to appreciate with the similar properties in a similar location. Substitution: This principle implies that a property's greatest potential market value is also limited by the valuation of similar properties in a similar locality. Change: This principle tells that all variables used for valuation tend to change resulting in changes in value of the property. Anticipation: This principle implies that valuation depends upon the expectation of future growth. Contribution: This principle states that the investment on an existing property may contribute in valuation, though it is not necessary that increase in valuation is equal to investment. Plottage: This principle implies that the consistency in ownership, zoning and usage of land tend to increase the value of land. Highest and best value: This principle states that the value of a land is maximum when the land is utilized in best possible manner. Competition: This principle implies that the valuation of a property varies according to supply and demand of properties in market. Property appraisal aims to determine different type of values such as market value, value in use, investment value, insurance and taxable value, and liquidation value, which gives rise to need of different valuation methods and standards. These valuation systems also vary in different countries according to their laws and economic practices. In, UK five valuation methods are used which are discussed in following sections whereas in US

Tuesday, February 11, 2020

African-American Muslims in Philadelphia Essay Example | Topics and Well Written Essays - 1000 words

African-American Muslims in Philadelphia - Essay Example Though the roles of men and women are clearly spelt out in the Quran, the bone of contention is: How are African-American women perceived or treated in this religion? While these women put themselves on the same equal ground as their male counterparts, the media and Americans in general see them as a subjugated group. Sunni African American women believe that Muslim is the first and only religion that is centered on feminism. They recognize this religion as their source of redemption in a male dominated world. Even though their opinions and views may seem absurd to most Americans, the religion keeps growing in popularity among the Blacks. It is worth noting that men were attracted to Islam as it put a lot of emphasis on male leadership1. Elijah Muhammad used this opportunity to affirm the role of both men and women in religion, leadership being the primary role of men. In African-American churches, leadership positions were mostly taken by women with one overall male leader- the pastor. Black women were also attracted to Islam despite being reduced to housewives and child bearers by the sect. This was due to how they viewed Muslim men and the respect that the religion accorded women and children. Unlike their irreligious or Christian counterparts, Muslim men were responsible, focused, loved their women and were always smart in suits. This attracted the women to the sect. Many came from abusive and dysfunctional families; Islam offered a source of reprieve and comfort for them. Elijah called for the men to protect and provide for their black women to preserve the purity of black skin and to discourage interracial relations with the whites. It was not for the benefit of the black women. In fact, men were in control of their spouses bodies. The only time men were not allowed to copulate with their wives was during menstruation and when they were sick. Regardless of whether she was in the mood or not, a Muslim woman was mandated by her religion to meet her