Development of rural areas is an important target for research and applied action in many countries of the world. Contrary to the liberal theory, which is very popular in the post-socialist and post-Soviet Union states and supports the regulatory nature of market forces, practical experience has demonstrated that sustainable development of rural settlements can only be influenced by means of scientifically substantiated government policies and a systematic approach to land management. Establishment and development of a multi-purpose cadastre of real property is an important contributing factor that facilitates implementation of the government policies for territorial development because the cadastre secures a title to real property, ensures tax assessment of real property and is conductive to implementation of the new progressive system for taxation of real property. The article discusses the role of real property valuations in establishing an adequate environment for economic and social development of rural settlements.