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Thursday, July 1, 2010

Apartment Depreciation

Calculate apartment depreciation.

Calculate depreciation on flats in case they are old. Assume that current market price for new 2BHK flat in Brookfield is 50 Lacs. In case, an apartment is 5 year old, you should pay only 45 Lacs. It should be 10% less (2% for each year), this is what bank person has told me. 

Bank assumes that your building age is 50 years. BBMP assumes it to be 60 years. After 60 years, they will come and check it every year to certify that you can still live in it.

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