Actual or chronological age is called the age of any building/structure. This is expressed in the number of years, ever since the building was completed.
Actual age is the number of years that have passed since the completion of construction for any structure or building.
The actual age of any structure is important in the context of the real estate industry. New buyers may wish to know about the number of years that have passed since the construction of any property. This may be required by lenders as well, when they are sanctioning loans for any resale property. This is also required for valuations or appraisals in many cases. Hence, the actual age of a property is a crucial factor for the industry.
