IBBI Land & Building study plan
IBBI Land & Building · Give each week a clear focus.
8 weeks · About 7 hours per week
Land and Building Valuation Concepts and Principles
Define the core valuation concepts (value, price, cost, market value, fair value) and distinguish each with your own one-line definition and one example
Explain the valuation process end to end, from problem definition and scope of work through data collection, analysis, and reporting
List the purposes of valuation (mortgage, taxation, compensation, financial reporting, dispute resolution) and state how purpose changes assumptions and output
Identify the key characteristics of land as a commodity and how they affect valuation judgment
Your checkpoint
A one-page concept map linking at least 12 core terms with definitions and a worked example for each of the five value types
Land and Building Valuation Concepts and Principles
Explain the principle of highest and best use and apply its four tests (legally permissible, physically possible, financially feasible, maximally productive) to a described site
Distinguish the main value concepts used in statutory and compensation contexts and note where they diverge from market value
Describe the role of depreciation, obsolescence, and remaining economic life in value formation
Summarize the main professional and ethical standards governing a valuer's conduct and independence
Your checkpoint
A written highest-and-best-use analysis of a hypothetical plot (about 400 words) that explicitly runs all four tests and states a conclusion
Land and Building Valuation Methods and Approaches
Explain the sales comparison approach, including unit of comparison, adjustment grid logic, and the sequence of adjustments
Apply qualitative and quantitative adjustment techniques to at least three comparable transactions
Describe how to select and weight comparables and how to reconcile a range into a single indicated value
Identify common data sources for comparable evidence and note their reliability limits
Your checkpoint
A completed adjustment grid for three comparables with a reconciled value conclusion and a short justification of weights
Land and Building Valuation Methods and Approaches
Explain the income approach, including gross rent multiplier, direct capitalization, and the relationship between yield and capitalization rate
Derive a capitalization rate from market evidence and explain each input to net operating income
Reconstruct the cost approach: replacement versus reproduction cost, and treatment of physical deterioration and functional and external obsolescence
Explain when each approach is most reliable and how to reconcile results from multiple approaches
Your checkpoint
A worked income-approach and cost-approach valuation of one property, showing every calculation step and a final reconciliation paragraph
Land and Building Valuation Methods and Approaches
Compute and interpret depreciation in the cost approach using age-life and breakdown methods
Explain the role of discount rates and present value in the income approach for multi-period cash flows
Compare the strengths and weaknesses of the three approaches across property types, including special-purpose assets
Solve at least 15 numerical practice problems spanning all three approaches without reference notes
Your checkpoint
A timed 90-minute problem set (15 items across three approaches) scored and self-marked, with a list of every error and its cause
Land and Building Valuation Applications, Standards and Reporting
Explain the structure and required content of a valuation report, including scope of work, assumptions, limiting conditions, and certification
Identify the mandatory disclosures and record-keeping obligations a valuer must meet
Describe how valuation standards apply to different engagement types and how departures must be documented
Draft report sections that make the reasoning auditable by a third party
Your checkpoint
A full mock valuation report for a residential or commercial property, including scope of work, analysis, reconciliation, and certification
Land and Building Valuation Applications, Standards and Reporting & Land and Building Valuation Concepts and Principles
Apply valuation concepts to specialized applications such as mortgage lending, taxation, and compulsory acquisition
Analyze case-style scenarios and identify the correct approach, standard, and reporting requirement for each
Review weak spots from the week 5 problem set and re-solve each missed item from first principles
Practice explaining your valuation conclusion concisely, as you would in a hearing or client meeting
Your checkpoint
Four short case analyses (about 250 words each) that each state the applicable approach, standards, and reporting implications
Land and Building Valuation Concepts and Principles & Land and Building Valuation Methods and Approaches & Land and Building Valuation Applications, Standards and Reporting
Complete two full-length timed mock exams under exam conditions and score them against the answer key
Rank your remaining weak areas by error frequency and close the top three with targeted review
Recite the core concept definitions, approach selection rules, and report requirements from memory
Build a one-page final revision sheet covering formulas, standards, and common traps
Your checkpoint
Two scored mock exams plus a one-page revision sheet and a written list of the three weak areas you closed
Milestones
Week 2: You can define the core value concepts and run a complete highest-and-best-use analysis without notes
Week 4: You can complete an adjustment grid and a capitalization calculation end to end with correct arithmetic
Week 6: You can produce a standards-compliant mock report with scope of work, reconciliation, and certification
Week 8: You score at or above your target on two timed mocks and have closed your top three weak areas