what is annual value
The Gross Annual Value (GAV), also called just the Annual Value, of a property is used in calculating the tax or rent which should be applied to the property.etails [edit]. In India the Gross Annual value is the current value, the actual rent (whether received or receivable) or the fair rental value, whichever is highest or which the property might be expected to attract on the open market in ideal circumstances where there is neither a glut nor a shortage of accommodation.