BALTIC CONTROL (BD) LTD.

CERTIFICATE NO. 777/265/2005

VALUATION CERTIFICATE OF PROPERTY

(LAND & CIVIL STRUCTURE)
AT NANDAKHALI, TETUL JHARA
SAVAR, DHAKA
BANGLADESH.

CLIENT : M/S. DRESS WORLD LTD., DHAKA.

VALUATION WORK DONE FOR :

IFIC BANK LTD.
MOTIJHEEL BRANCH
ISLAM CHAMBER
125/A MOTIJHEEL C/A
DHAKA-1000.

DATE & PLACE OF ISSUE : 15 JANUARY 2006

DHAKA, BANGLADESH.
IFIC Bank Ltd., Motijheel Branch, Dhaka.

REF. : CREDIT/LOAN/4087/2004/2586 dt. 06-12-2005

Professional fees and expenses for the Valuation Survey of the property.
A/C. M/S. DRESS WORLD LTD., DHAKA.

Total value of the property : Tk. 5,95,59,300.00

01. Fees (Applicable) ......... ............ Tk. 25,000.00

02. Vat : 15 % Tk. 3,750.00

(Taka : Twenty eight thousand seven hundred fifty) only.

BCBD/2005-265 Tk. 28,750.00

15-01-2006
 BCBD/2006-108 15-01-2006

IFIC Bank Ltd.

Motijheel Branch
Islam Chamber
125/A Motijheel C/A
Dhaka-1000.

A/C. M/S. DRESS WORLD LTD., DHAKA.

Dear Sir :
Attached herewith please find as under :

Certificate No. : 777/265/2005 dt. : 15-01-2006

Bill No. : BCBD/2005-265 dt. : 15-01-2006
= 02 (Two) Copies each.

Photographs : 12 (Twelve) Copies.

Location Map : 02 (Two) Copies.
Mouza Map (Part) : 04 (Four) Copies.

Thanking you,

Sincerely yours :
BALTIC CONTROL (BD) LTD.

_________________
 227/2005
BCBD/2005-931 11-10-2005 Dhaka

REPORT ON VALUATION OF PROPERTY

(LAND)
A/C. M/S. A & A ENTERPRISE LTD., DHAKA.

THIS IS TO CERTIFY THAT at the request of IFIC Bank Ltd., Motijheel Branch, Dhaka, vide letter dated
09-10-2005, (Ref : CREDIT/LOAN/6815/2005/21559) our representatives inspected & verified the subject
property on 10-10-2005 with a view to ASCERTAIN the value of the same.
We are now pleased to report as follows :
GENERAL INFORMATION
ADDRESS OF THE BORROWER / CLIENT:
Name : M/s. A & A Enterprise Ltd.
Business Address : 28/B, Segun Bagicha, Dhaka
Managing Director : Mr. Syed Ashfaqur Rahim

TYPE OF THE PROPERTY:

Developed vacant land

PROPERTIES PARTICULARS :
OWNER OF THE PROPERTY :
Bajitpur Estate Ltd
Head Office
67/3 Kakrail
P.S. : Ramna
District : Dhaka

RELATIONSHIP WITH THE BORROWER :

Third party property.

SCHEDULE OF THE PROPERTY :

Mouza : Bilamalia; J.L. # CS-741; SA-259; R.S-232
P. S. : Savar
District : Dhaka.
Sch. Sub-total
Deed No Jot Dag No. Total Area
No. Khatian No. Area
& Date No. (Decimal)
(Decimal)
01. 9868 CS-22; SA-19; R.S-971; CS. & SA-
170 -- 6.875
dt. 12-08-1996 Mutation-19/Kat 1105; R.S-1840
02. CS-145; SA-212; R.S-991; CS. & SA-860;
10.00
Mutation-212, 509, 259 R.S-1047
CS-188; SA-259; R.S-990; CS. & SA-964;
17.50
3357 Mutation-212, 509, 259 R.S-1017
504 50.00
dt. 03-04-1996 CS-188; SA-259; R.S-990; CS. & SA-554;
7.50
Mutation-212, 509, 259 R.S-812
SA-509; R.S-984; CS. & SA-
15.00
Mutation-212, 509, 259 1020; R.S-2010
Total : 56.875

Contd. ………….. P/02

 227/2005 02

PERIMETERS OF THE BOUNDARIES (CHOUHODDY)

As per submitted documents the total area of the subject land is more or less 56.875 Decimal. However,
Physical measurement of the land could not be taken by us as there is about 3000 Bigha land in the same
block out of which 56.875 decimal land intended to be mortgaged and this portion of land is not demarcated
separately.
All plots are bounded by as follows :
EAST : Owners Land ( Bajitpur Real Estate)
WEST : Owners Land (Bajitpur Real Estate)
NORTH : Owners Land (Bajitpur Real Estate)
SOUTH : Owners Land (Bajitpur Real Estate)
PHOTOGRAPHS : 05 (Five) copies enclosed … … … APPENDIX- A

LOCATION OF THE LAND

The property is located at Bajitpur Real Estate of Bilamalia area under Tetul Jhara Union, P.S.- Savar,
District- Dhaka. The land is situated about 300 m south side from Boliarkoir Truck Stand.
LOCATION MAP : … … … … … … APPENDIX- B
MOUZA MAP (Part) : APPENDIX- C

IMPORTANCE OF THE LOCALITY :

The area has all modern facilities VIZ. Communication & Electricity etc. The subject plot has easy access
by road.

POSSESSION :
During our physical inspection, we have been informed by the local people that the property in question is
under possession of the Bajitpur Real Estate.

REMARKS :
- We just evaluated the properties but the Legal Advisor should check the Legal matter.
- The company develops low land and sell it to public. At present the subject plots are under
possession of Bajitpur Real Estate but as the company is Real Estate Company there is
probability of selling the same in future.
- We Baltic Control (BD) Ltd. hereby declare that, we have no interest (except as Inspector Surveyor
and Assessor of the subject property) directly or indirectly in any manner whatsoever in the subject
matter in this report.
- The report contains 03 (Three) pages each page of which bears the signature of the undersigned.

LAND/PLOT
BASIS OF VALUATION OF PLOT
We are experiencing on various occasions that the plot(s) located side by side with the same facilities and
importance, fetch different prices, without obvious reasons whatsoever.
During the Course of valuation, we have inquired local people with a view to arrive at an average
consensus rate as to the market price of the land in the locality, also considering location, size of the land
and the infrastructure in and around and future prospects of the locality.
In view of foregoing, we have valued the land based on plot being purchased and sold at Bajitpur Real
Estate of Bilamalia area under Tetul Jhara Union, P.S.- Savar, District- Dhaka during the last one year.

Contd. ………….. P/03

 227/2005 03

PRESENT MARKET PRICE OF THE PLOT :

Govt. Rate : Tk. 20,000.00 per Decimal
 Commercial Rate : Tk. 1,80,000.00 per Decimal

 Rate for Valuation : Tk. 1,40,000.00 per Decimal

(25% of the Govt. rate and 75% Comm. rate).

Therefore, the value of 56.875 Decimal amounts to :

56.875 Decimal @ Tk. 1,00,000.00…. ……. = Tk. 79,62,500.00
(Taka : Seventy nine lac sixty two thousand five hundred) only.

DISTRESSED VALUE :
In case of forced selling for any reasons whatsoever, the distressed value of the land, according to our
calculation, append hereto :
56.875 Decimal @ Tk. 1,12,000.00…. ……. = Tk. 63,70,000.00
(Taka : Sixty three lac seventy thousand) only.

PROJECTED VALUE (Span of 5 Years )

Since the property treated as collateral security against the loan to the Bank, So the same may be subject to
litigation in case of failure to liquidated the loan by the borrower, although such situation does not
normally expected to arise before five years.
In case of liquidation, we have also calculated the projected liquidated value of the above property after a
span of five years.
Considering the scarcity and ever increasing demand of plot at Bajitpur Real Estate of Bilamalia area under
Tetul Jhara Union, P.S.- Savar, District- Dhaka also appreciation/ inflation of prices over the years, we
calculate the minimum projected value, after five years as under :
56.875 Decimal @ Tk. 2,25,000.00…. ……. = Tk. 1,27,96,875.00
(Taka : One crore twenty seven lac ninety six thousand eight hundred seventy five ) only.

NOTES : Value of land as per Govt. rate :

56.875 Decimal x 20,000.00 Per Decimal = Tk. 11,37,500.00

This SURVEY/ VALUATION has been carried out WITHOUT PREJUDICE and for the benefit of
whom it may concern.

BALTIC CONTROL (BD) LTD.

Engr. K. Shahadat Hossain

Director