How to find out accurate price of a property

[maheshv]

Hello All,
I am looking to sell my property and need some guidance on the same.
If you are buying or selling a property how do you find the right price?
I do not want to set the price high which might deflect interested buyers neither I want to quote low and lose.
Please share your experience.
Thanks,
Mahesh

[rewatcher]

First of all there is no such thing as 'accurate price' in Indian real estate scenario. It is always a function of how desperate either seller or buyer to finish the transaction. RE transactions are so opaque it is very difficult to find out what price a property was sold because in most of the transactions the property will be registered for a much lower value.
Having said that, to find out how much your site is worth, do the following -

1. Keep looking for site sale ads online in your area (magicbricks, 99acres, craigslist, sulekha etc) and if you will get a very rough estimate. For example if you saw 20 ads and the prices ranged from 2000 to 3000 per sft, you can assume that your site will be somewhere in that range.
2. Hit the ground - This is very important. Visit as many brokers as possible in the area where you have site in the guise of a buyer. You could just ask them to show a few sites that matches your site and ask them the prices, how much it is negotiable etc. This will give you a fairly good picture of your site's worth.

[maheshv]

Thanks rewatcher, I have good information at hands to start off now, thanks again!