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Q: Explain the term used to define the loss in the property value due to modifications in structural design, repairing and aesthetics.
  • A. Annuity
  • B. Capitalised value
  • C. Sinking fund
  • D. Obsolescence
Correct Answer: Option D - Obsolescence– • The loss in the value of the property is due to change of design, fashion in utility. demanded is known as obsolescence.
D. Obsolescence– • The loss in the value of the property is due to change of design, fashion in utility. demanded is known as obsolescence.

Explanations:

Obsolescence– • The loss in the value of the property is due to change of design, fashion in utility. demanded is known as obsolescence.