Valuation is the technique of estimation or determining the fair price or value of property such as building, a factory, other engineering structures of various types, land etc. By valuation the present value of a property is defined. The fair price or value of property such as building, a factory, other engineering structures of various types, land etc. By conducting valuation, the present value (not a future value) of a property is determined. The present value of property may be decided by its buying or selling price or rent fixation of the property .