GeoValueIndex Definition for Valuation of Public Property Assets

Abstract

The places under the jurisdiction and possession of the State, the places under the common use of the public and the places reserved for the public service and the immovable properties under the private ownership of the Treasury are the State Property Assets under the administration and management of the State. Of these, the places registered to the public legal entity and whose use is for the public benefit are Public Property Assets. Treasury Assets constitutes 37.6% of Turkey's surface and contributes significantly to the national economy.Most of the university immovable properties under the Council of Higher Education (YÖK) are public property allocated for education. Each university manages its real properties itself. The university properties are accounted; forms are filled and submitted to the General Directorate of National Real Estate for preparation of condensed statement. The aim of the study is to create a value-based GeoValueIndex depends on the features of Mersin University Çiftlikköy Campus properties. Analytic Hierarchy Process (AHP) was used as the analysis method. The GeoValueIndex obtained with AHP will both replace the trace value and provide a basis for mass real estate valuation and provide a practical solution for converting real estate to current market values.