CAN A VALUER ISSUE REPORT FOR A 30 YEARS OLD BUILDING WITH NO SANCTION PLAN

QUESTION & OPINION

B. Kanaga Sabapathy 12.01.2022

Question :

There is a house property in the congested area which is purely meant for residential. The building is 30 years old which is sanctioned but a sanction plan is not available. Only a letter is available but area details are not mentioned on it. The building is as per the rules. Can I give a valuation report for collateral security purposes?

Opinion :

1. If the FSI and plot coverage are within the permissible limits, you can consider doing valuation.

2. If the owner can prepare fresh drawing and submits for fresh approval for ‘as is where is’ condition and if there will not be any problem by local authorities to approve, you can consider doing valuation.

3. If there is no demolition threat, then you can consider doing valuation.

The above opinions are given only for an overall guidance without seeing the property physically and it is upto the valuer to take right appropriate judicious decision after considering the prevalent conditions.

(B. Kanaga Sabapathy)

Request

The readers may highlight the errors if there are any. Suggestions for further improvements are certainly welcome. Similar topics may also be suggested.

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With best wishes,

B. KANAGA SABAPATHY
bkvaluer@gmail.com
www.bkanagasabapathy.com

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