VALUATION & REPORT

OF TRIBAL LOT IN TONOTA,LEPHANENG WARD

AS AT THE 22 ND SEPTEMBER 2023
FOR TEKO MONNYE KOOLOPILE
1.0 Client:
2.0
Teko Monnye Koolopile
P.O. Box 427
Tonota

2.0 Instructions:

We received instruction from Teko M. Koolopile on the 22nd September 2023 to

carry out valuation of Tribal Lot in Tonota, Lephaneng Ward, Ngwato Tribal
Area for ownership transfer purpose and report the Open Market Value, Forced
Sale Value and Insurance Replacement Value.

3.0 Subject Property:

Tribal Lot in Tonota

Lephaneng Ward
Ngwato Tribal Area

4.0 Tenure and Occupation:

The property is held under a Customary Land Grant Certificate by Tonota Land
Board in favour of Ogaufi Rankopo granted on the 20th June 1995 for residential
purpose.

The plot measures 963.50m².

The property was developed at the time of our inspection.

5.0 Date of Inspection:

The property was inspected on the 22nd September 2023.

6.0 Description:

The property comprises a residential plot developed with a dwelling house and a
pit latrine toilet standing within fenced boundaries.

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7.0 Situation:

The property is situated in Tonota Village within a developing area comprising a

mixture of mainly low and medium cost houses and located approximately 645m
to the east of A1 highway and approximately 480m northeast of Tonota Sub
District Council. Access to the property is from a dirt road.

8.0 Construction & accommodation:

Main house: Constructed from concrete block walls rendered externally and
painted and plastered internally under hip/valley Harvey roof tiles
on sawn timber trusses. Rhino-board ceilings are fitted to the
verandah and no ceilings are fitted to the rest of the house. floors
are of concrete slab with sand and cement screed.

Accommodation comprises of a verandah, lounge, kitchen,

passage, 3 bedrooms, unfitted common bathroom and 3
bedrooms.

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 Plinth Areas

Site 963.50 m²
Main house 88.88 m²
Verandah 14.40 m²
Toilet 1.80 m²

9.0 External Works:

The plot is enclosed to boundaries by 1.20m high fencing.

10.0 Services:

Mains water and electricity are available and connected on the property.

11.0 Access Roads:

The property is accessed from a dirt road.

12.0 General Condition:

The developments appeared to be in a satisfactory state of repair and condition as

at the time of inspection except the main house external paint that needs to be
rehabilitated.

13.0 Environmental Matters:

We have not undertaken, nor are we aware of the content of, any environmental
audit or other environmental investigation or soil survey which may have been
carried out on the property and which may draw attention to any contamination
or the possibility of any such contamination. We have not carried out any
investigation into past or present uses of the property nor of any neighboring land
to establish whether there is any potential for contamination from these uses or
sites adjacent to the subject property and have therefore assumed that none exists.

14.0 General Remarks:

The property is formed by a dwelling house offering standard-sized

accommodation situated within a developing area of Tonota Village.

There is average demand for both to purchase and lease in the area for such type
of development.

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15.0 Market Commentary:

We have recently carried out market research of residential property sales in the
area and our analysis reveals that land values ranges between P50/m² and P75/m².
The variation of sales range is due to differences in land size, shape, position and
other locational qualities such as frontages, roads, proximity uses, etc. The rates
of vary depending on varying qualities of fittings and finishes of various structures.

16.0 Definition of Values:

Open Market Value

The valuation has been prepared on the basis of “Open Market Value” which is
defined as:

“An opinion of the best price at which the sale of an interest in property would
have been completed unconditionally for cash consideration on the date of
valuation assuming:

(a) willing seller;

(b) that, prior to the date of valuation, there had been a reasonable period (having
regard to the nature of the property and the state of the market) for the proper
marketing of the interest, for the agreement of the price and terms and for the
completion of the sale;

(c) that the state of the market, level of values and other circumstances were, on
any earlier assumed date of exchange of contracts, the same as on the date of
valuation;

(d) that no account is taken of any additional bid by a prospective purchaser with
a special interest; and

(e) that both parties to the transaction had acted knowledgeably, prudently and
without compulsion.”

No allowances have been made for any expenses of realisation nor for taxation
which might arise in the event of a disposal. Acquisition costs have not been
included in our valuation.

No account has been taken of any inter-company leases or arrangements, nor of

any mortgages, debentures or other charges.

Forced Sale Value

The best price at which the sale of an interest in property might reasonably be
expected to have been completed unconditionally for cash consideration on the

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 date of valuation, assuming:

(a) a willing seller;

(b) that prior to the date of valuation, there had been a limited period for the
marketing of the interest, for the agreement of price and terms and for the
completion of the sale;
(c) that the state of the market, level of values and other circumstances were, on
any earlier assumed date of exchange of contracts, the same on the date of
valuation;

(d) that no account is taken of any additional bid by a purchaser with a special
interest. The limited period is assumed to be restricted and is less than six months
having regard to the nature of the property and the state of the market.

17.0 Valuation:

Valuation date: 22nd September 2023

We have valued the property on comparative basis and report the figures as
shown below;

Open Market Value

P 320,000.00 (Pula Three Hundred and Twenty Thousand)

Forced Sale Value

Open Market Value Less 30%

Yours sincerely

Moses C. Light
Bcom Real Estate MREIB No. 487, MIVB, Registered Valuer
MC Light (Pty) Ltd
Email: lightmose.ml@gmail.com/moses@mclight.co.bw
Cell: 72460338
Tel: 3119996

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 I hereby certify that I personally inspected the subject property on the date outlined and
have carried out the assessments above as at that same date, with the benefit of being
provided additional information about the property internally. Neither I, nor any member
of this firm, has any conflict of interest, or direct, indirect or financial interest in relation
to this property that is not disclosed herein.
The valuation has been prepared in accordance with the Valuation Manual. The property
details on which this valuation is based are recorded in our report.

The property has been valued by a valuer who is qualified for the purpose of the valuation
in accordance with the Real Estate Institute of Botswana standards.

This report is for the use only of the party to whom it is addressed for the specific purpose
set out herein and no responsibility is accepted to any third party for the whole or any part
of its contents.

Neither the whole nor any part of our report nor any references thereto may be included
in any published document, circular or statement nor published in any way without our
prior written approval of the form and context in which it will appear.

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