The term property valuation applies to identifying the value of real property usually by way of its market value. Here real property pertains to both movable and immovable property such as land, buildings, machinery, equipments etc, and market value refers back to the worth at which the property/asset could be traded at a competitive auction setting. The requirement for value determinations in property valuation may arise if the property is of a heterogeneous type. The appraisals are carried out by certified appraisers. The route of assessment of property can also be identified as land valuation and real estate's appraisal.