whether Ground floor house value is more compared to 1st floor house of same type?
2 years ago
My Father in Law passed away in June 2020, before his death he has made a WILL. He is havina house of 3 Floor, the Plot area is 30x50=1500 Sq ft, in this Ground Flr 1000 Sq ft, 1st Flr 1000 Sq ft and 2nd Flr 600 sqft built-ed houses are there. In that he has mentioned Ground floor house of 1000 sq.ft is for his son (for my husband), 1st Floor house of 1000 sq.ft & 2nd Floor house of 600 sq ft is for his daughter (for sister in law). and the empty terrace of 2nd floor both son & daughter should use for utility purpose. And in the WILL, parking area which is in ground floor & first floor balcony is not mentioned.
Now, my sister in law is asking us to sell the whole building and make 3 parts of the total amount and divide as 1.75 part for her and 1.25 part for my husband. I felt it is injustice, so I requested to divide the amount equally between son & daughter because Ground floor value is more compared to first & second floor. And in second floor we also have our share in the terrace, she may have bit more share in 2nd floor, but the ground floor value per sq ft is more compared to other floors, If divide the whole amount in 3 part and give 1.75 part to her, we will get loss. But she is not agreeing to divide equally. She is very much cunning and finds to get profit in everywhere. Please suggest me how can I proceed? If I go legally, do I get more value for 1st floor compared to 1st & 2nd floor?
You need to get in touch with a local valuer and find out the exact values. The valuation of a property depends on many factors like area, locality, age, type of property etc. This question is difficult to be answered in this kind of forum hence you are suggested to meet some local valuer.