Fair Market value of property purchased before 1/04/2001

When selling a property purchased before April 1st, 2001, and using a valuer's report, clarification is needed on which 'fair market value' to use. Options presented include the valuer's flat value, realisable value, distress value, and government value. The consensus leans towards using the government value (also known as ready reckoner or guideline value), as it's typically accepted by authorities and avoids potential conflicts with the Income Tax Office.