1

Ref:Admin-D/PSB/Rangarajan/Gopal/Amr-145/23 22-03-2023

M.Sappany Pillai & Associates

Door.No.299, Peters Road, Thousand Lights, Chennai – 600 086.
To,
Punjab & Sind Bank
IBD Branch, Mount Road
Chennai- 600 002.

VALUATION REPORT (IN RESEPCT OF FLATS)

I. GENERAL
To ascertain the fair market value for bank
1. Purpose for which the valuation is made :
purposes
a) Date of inspection : 20-03-2023
b) Date on which the valuation is made : 22-03-2023
Mr.K.Rangarajan son of
c) Name of the Customer : Mr.Kulasekaradoss
2.
Flat No.F2 in First Floor, Apartment name as
“Smart Homes Apartment”, Old Door.No.9,
d) Address of the property : New Door.No.13, Current Door No.27,
Krishnapuram Street, Choolaimedu,
Chennai 600 094
Details gathered from bank

3. List of document produced for perusal Relevant Details gathered from the bank as
mentioned in the Valuation report given by
Dr.A.SHOBA, dated 30.01.2020
 2

That the property is already under security

with PSB

Name of the owner(s) and his /their

address (es) with phone no.(details of
04.
share of each owner in case of joint
ownership)
Mr.K.Rangarajan son of
: Mr.Kulasekaradoss
The subject property is residential flat in First
floor is consists of Ground + 2 floors
residential apartment building with undivided
share of land Flat.No.F-2,

Brief description of the property Borrower flat in First Floor, accommodates

5. :
(Including leasehold /freehold etc) Hall, Kitchen, two bed room with attached
and common toilet. It is Owner occupied at
the time of Inspection.

Freehold–Single Ownership.

The above said property is located in

Krishnapuram Street, Choolaimedu, which is
easily accessible from Choolaimedu High
Road near Sri Ganagi Ammal Koil and the
nearest land mark of the property is Chennai
Location of property : Central Co-operative Bank. This is a
developed residential and Commercial area
and all civic amenities are available near by.
A key plan showing the location of the site is
enclosed herewith for easy identification of
6. the property.
a) Plot No ./ Survey No , : T.S.No.61/2
b) Block No. Block No.21
Old Door.No.9, New Door.No.13,
c) Door No. :
Current Door No.27.
d) T .S . No. /Village : T.S.No.61/2 of Puliyur Village
e) Ward / Taluka : Egmore Taluk,
f) Mandal /district : Chennai District
g) Sub-Registration District : Kodambakkam
Flat No.F2in First Floor, Apartment name as
“Smart Homes Apartment”, Old Door.No.9,
7. Postal address of the property : New Door.No.13, Current Door No.27,
Krishnapuram Street, Choolaimedu,
Chennai 600 094.
 3

City / Town : City

8.
Residential/ Commercial/ Industrial Area : Residential Area
Classification of the area :
9. i) High / middle /poor Middle
ii) Urban /Semi Urban /Rural : Semi Urban
Coming under Corporation limit /village
10. : Corporation limit
panchayat / municipality
Whether covered under any state / :
Central Govt. enactments (e.g.under Land
11. No-Legal scope
Ceiling Act) orNotified under agency
area /scheduled area /Cantonment area
Boundaries of the property : As per Document As per Site
North by : Street Krishnapuram Street
Smart Homes
South by : Residential Apartment
Flats
Pathway To Passage
12.
East by : Smart Homes
Flats
Old No.14, Residential Building In
West by : Krishnapuram Old Door No.14, New
Street Door No.27
13. Dimensions of the Plot of land: 3600 sft
14. Latitude and longitude of the site : 13.0605667,80.2283994
15. Extent of the site : 325 sft UDS out of 3600 sft
Extent of the site considered for valuation :
16. 325 sft UDS out of 3600 sft
(least of 13 A & 13 B)
Whether occupied by the owner /tenant? :
17. If Occupied by tenant, since how long? Owner occupied at the time of inspection
Rent Received per month.
II APARTMENT BUILDING
1. Nature of the Apartment : Residential Apartments
2. Location :
S.No. : T.S.No.61/2
Block No. : Block No.21
Ward No. : -
Village / Municipality / Corporation :
: Flat No.F2in First Floor, Apartment name as
“Smart Homes Apartment”, Old Door.No.9,
Door No., Street or Road (Pin Code) New Door.No.13, Current Door No.27,
Krishnapuram Street, Choolaimedu,
Chennai 600 094.
Description of the locality Residential / :
3. Residential
Commercial / Mixed
4. Year of Construction : About- 2000 years
5. Number of Floors : Ground +1 floors as per plan
 4

Ground + 2 floors as per site

6. Type of Structure : Framed Structure
: As per earlier report mentioned
: Xerox copy of the approved plan vide
planning permit No.D5/383/1999 and
Building permit No.D5/464/1999 dated 11-
02-1999 issued by Commissioner, Chennai
Corporation for Ground +1 floor. But at site
G+2 Floor available.

Number of Dwelling Units in the Dwelling units

7.
building As Per Plan As Per Site
Ground floor – 2 flats 2 flats
First floor - 2 flats 4 flats
Second floor- Nil 3 flats
Total -4 7

Borrower flat is situated at First floor.

8. Quality of Construction : Normal

9. Appearance of the building : Normal
10. Maintenance of the building : Normal
11. Facilities Available
Lift : Nil
Protected Water Supply : Bore Well and Metro Water
Underground Sewerage : Available
Car Parking – Open / Covered : Nil
Is compound wall existing? : Nil
Is pavement laid around the building : Nil
III FLAT
:
Flat No.F-2 in First Floor,
1 The floor on which the flat is situated
Apartment name as
“Smart Homes Apartment”,
2 Door No. of the flat :
Specifications of the flat :
Roof : RCC Roof
Flooring : Vitrified Tiles flooring.
3 Doors : Country wood
Windows : Country wood
Fittings : Concealed wiring
Finishing : Cement mortar
House Tax :
4 Assessment No. : Detailed not produced
Tax paid in the name of :
5 Electricity Service Connection No. : Detailed not produced
 5

Meter Card in the name of :

6 How is the maintenance of the flat : Normal
: Mr.K.Rangarajan son of
7 Sale deed executed in the name of
Mr.Kulasekaradoss
What is the undivided area of land as per :
8 325 sft UDS out of 3600 sft
sale deed?
9 What is the plinth area of the flat? : 825 sft
10 What is the floor space index (app.) : -
11 What is the carpet area of the flat? :
12 Is it Posh / I class / Medium / ordinary : I class
Is it being used for Residential or :
13 Residential
commercial purpose?
14 Is it Owner occupied of let out? : Owner occupied at the time of inspection
15 If rented, what is the monthly rent? : Rs.15,000/-Month

IV MARKETABILITY
1 How is the marketability : Good
2 What are the factors favoring for an extra
: Good Locality
Potential Value?
3 Any Negative factors are observed which
: -
affect the market value in general?

V Rate
1 After analyzing the comparable sale
instances, what is the composite rate for a
Composite method is adopted
similar flat with same specifications in
the adjoining locality? – (along with
: Rs.8000/-per sft
details / reference of atleast two latest
details / transactions with respect to
adjacent properties in the areas)

2
Assuming it is a new construction, what
Composite method is adopted
is the adopted basic composite rate of the
flat under valuation after comparing with :
Rs.8000/-per sft
the specifications and other factors with
the flat under comparison (give details)

3 Break up for the rate

i) Building + Services : NA.
ii) Land + Others : NA
4 Guideline rate obtained from the Guideline value Rs.3283/- per sft
Value of the UDS land :
Registrar’s office (an evidence thereof to : 325sftxRs. 3283/- per sqft
be enclosed) = Rs. 10,66,975/-Say Rs. 10,67,000/-
 6

VI COMPOSITE RATE ADOPTED AFTER DEPRECIATION

a. Depreciated building rate :
Replacement cost of flat with Services
: Composite rate method is adopted
(v (3)i)
Age of the building : About 2000 – 23 year old
Life of the building estimated : 37
Depreciated percentage assuming the
: NA
salvage value as 10%
Depreciated Ratio of the building : NA
b. Total composite rate arrived for valuation : Rs. 8000/- per sft.
Depreciated building rate VI (a) : NA
Rate for Land & other V (3)ii : NA
Total Composite Rate : Rs.8000/- per sft.
825 sft x Rs.8000/- x 0.655
= Rs. 43,23,000/-
Say Rs.43,23,000/- (Rupees Forty three lakhs twenty three thousand only)

Valuers opinion:

The overall conservative value of the property - Rs.43,23,000/- (Rupees Forty three lakhs
twenty three thousand only)

And Realizable value is Rs. 39,00,000/-(Rupees Thirty nine lakhs only)

And distress value is –Rs.35,10,000/-(Rupees Thirty five lakhs only)

Value varies with the purpose and date. This report is not to be referred if the Purpose is different
other than mentioned in above
The legal aspects were not considered in this valuation.

This valuation work is undertaken by this valuation based upon the request from The Chief
Manager, Punjab & Sind Bank, IBD Branch Mount Road -Chennai- 600 002.

Signature

(Name and Official seal of the Approved Valuer)

The undersigned has inspected the property detailed in the valuation Report dated----------
------, We are satisfied that the fair and reasonable market value of the property.

Signature

(Name of the Branch Manager with Official seal)

 7

GUIDELINE VALUE
 8

Latitude & Longitude - 13.0605667,80.2283994

Ref site

Krishnapuram Street

To Arun Hotel

C.C.Bank Gangai Amman Koil

To Nelson Manickam Road

Choolaimedu High Road
To Kodambakkam

Key plan (Not to scale) Subway

9