How to calculate net worth of a person

Guys, I'm trying to figure out the way to identify the net worth of a person. Like let's say a person owns a house worth crores, a flat worth lakhs, a car, some land in his name etc etc. The real question arises when the person has Loans over the mentioned properties. Assuming the person has no loans on just the land rest everything has loan on it.

So to calculate net worth, should we take into account the properties which are not under the bank loan? Or should we consider everything regardless the loan is going on or not?