Which of the following statements is/are correct with respect to methods of valuation?
i) In Rental method of valuation, the net income by way of rent is found out by deducting all outgoings from the gross rent.
ii) In Development method of valuation, the building should be divided into four parts i.e. Walls, roofs, floor and doors, windows.
1
Both statements are false
2
Only statement i) is true.
3
Only statement ii) is true
4
Both statements are true.