Y.B.

PATIL POLYTECHNIC

SECTOR NO. 29, AKURDI, PUNE -411044, INDIA

CERTIFICATE

This is To Certify That

Y-3003 prathamesh bhargude

Y-3010 vishal jagdale

Y-3148 Sahil patil

Y-3146 sidhant kumbhar

Y-3121 Rushikesh bansode

As satisfactorily carried out and completed the project work entitled

PREPARE VALUATION REPORT OF ANY RESIDENTIAL BUILDING

This work is being submitted for the award of Diploma in civil Engineering partial fulfillment
of prescribed syllabus of M.S.B.T.E Mumbai for academic Year 2021-22.

Guide HOD of Dept. Principal

Mr. Amit Ghongade Mr. Abhijit Patil Prof.A.S.Kondekar

 Annexure – 1

Micro project:- Prepare valuation report of any residential building

1. Course outcomes addressed:

To get the information about valuation report of residential building

To get knowledge of valuation report of residential building

2. Action plan:

Planned Planned Name of responsible

Sr.No. Details of activity start date finished Team Members
date
1) Collection of information. 18/05/2022 24/05/2022 Vishal jagadale
2) Working of Prathamesh dargude
Microsoft Word. 18/05/2022 24/05/2022 Sahil patil
3) Taking Prints of the project Siddhant kumbhar
made in Microsoft Word & 18/05/2022 24/05/2022 Rushikesh bansode
binding it.
3. Name of Team Members with Roll No.

Sr.No. Name Roll No.

1) Vishal jagadale 3110

2) Prathamesh dargude 3103

3) Sahil patil 3148

4) Siddhant kumbhar 3146

5) Rushikesh bansode 3121

4. Resources required:

Sr.No. Name of resources Specifications Qty. Remark

1) Internet & reference Collect information 1 -
books
2) Laptop Working on Microsoft 1 -
Word
 Annexure -2

Microproject Report :

Rationale :

Aims / benefits of the project :

 To get the information about valuation report of residential building

 To get the knowledge about its Project.

Course outcomes achieved :

We got the knowledge about the valuation report of residential building.

Literature review:

Valuation is the technique of estimating or determining the fair price or value of a property such as a
building, a factory, other engineering structures of various types, land etc. The present value of a
property is determined by valuation. The present value of the property may be decided by its selling
price, or income or rent it may fetch. The value of property depends on its structure, life
maintenance, location, bank interest, legal control, etc. .
 Annexure - 4

Microproject Evolution sheet

Names of group members with enrollment no.

Sr.No. Name Enrollment No.

1. Vishal jagadale 2001340021

2. Prathamesh dargude 2001340007

3. Sahil patil 2001340035

4. Siddhant kumbhar 2001340013

5. Rushikesh bansode 2001340051

Name of Programme : T.Y.C.E

Semester : 06th

Course Title : Civil Engineering Diploma

Code : 22601

Title of Microproject :

Course outcomes achieved :

 To get the information about valuation report of residential building.

 To get the knowledge about valuation report of residential building
Sr.No. Characteristics to Poor Average Good Exellent Sub
be assessed (Marks 1-3) (Marks 4- (Marks (Marks 9- Total
5) 6-8) 8)
(A) Process and product assessment ( Convert above total marks out of 6 )
1. Relevance to the
course.
2. Literature review.
3. Complition of the
target as per
project proposal.
4. Analysis of data &
representation.
5. Quality of
protype/model
report
presentation.
6. Report
preparation
(B) Individual Presentation/Viva ( Convert above marks out of 4 )
7. Presentation
8. Viva
Sr.No. Roll No. of Student Process & Individual Total Marks
product Presentation/Viva ( 10 Marks )
assessment (4 Marks )
(6 Marks )
1. Y-3103
2. Y-3110
3. Y-3121
4. Y-3146
5. Y-3148

Comments :_________________________________________________________________

Name of the Teacher :_________________________________________________________

Dated Signature :____________________________________________________________

Actual resources used :

Sr.No. Names of resources Specifications Remark

1) Computer Google -
2) Wikipedia www.google.com -

Output of the Microproject:

1) We got knowledge about valuation report of residential building.

2) We got information about its purposes and its use.

Conclusions :

 We learned the valuation report of residential building.purposes.

 We also learned its uses and importance.

References:

Internet

Textbook (Nirali Publication)

 Annexure - 5

INTRODUCTION
Valuation is the technique of estimating or determining the fair price or value of a property such as a
building, a factory, other engineering structures of various types, land etc.The present value of a
property is determined by valuation. The present value of the property may be decided by its selling
price, or income or rent it may fetch. The value of property depends on its structure, life maintenance,
location, bank interest, legal control, etc. The value also depends on supply on demand and the
purpose for which valuation is required.

Residential building includes all buildings intended for private occupancy whether on a
permanent basis or not. Dwellings are divided into the following types: single-family, mobile,
cottage, semi-detached, row house and apartment building.

Residential Valuation Report

“A professional opinion on the value of a property for a
specified purpose.”
1.0 Client:

Mr and Mrs XXX

Address
Address
2.0 Instructions:

To prepare a Residential Valuation Report, which will be used to determine the present
condition market value of the property for Probate purposes.
3.0 Subject Property:

Property Address
Address

Address
4.0 Tenure and Occupation:

The property is understood to be of freehold tenure. The property was vacant, but fully
furnished at the time of our inspection.
5.0 Date of Inspection:

The property was inspected on the XXXX.

6.0 Weather Conditions:

The weather was overcast and raining during our inspection. The weather in previous weeks
has been varied.
7.0 Restrictions:

Whilst the property was unoccupied, it was fully furnished with floors fully covered
throughout. Several rooms were packed full of stored items which did restrict our
inspection.
8.0 Description:
The property is formed by a traditional two storey semi detached house located in a rural
setting. The property benefits from a range of basic and deteriorated outbuildings.

9.0 Situation:
The property is situated within a rural location, which lies approximately XX of a mile
outside XXXX. XXXX lies approximately XXX miles to the east side of XXXX town centre.
The subject property and adjoining neighbouring property are surrounded by farmland, with
the dwellings being accessed across a partly made private track. Whilst some purchasers
would find this an attractive feature, the isolated position of this property is likely to deter
some future purchasers and therefore we have taken this matter into account.
There is also believed to be a public footpath which runs directly in front of the subject
property. This may again slightly restrict future saleability
10.0 Accommodation:

Ground floor: Entrance Hall, Living Room, Kitchen, Dining Room, basic Conservatory, Cloak
Room.
First floor: Landing, Three Bedrooms, Bathroom.
11.0 Garage, Outbuildings and Site:

There is no garage. There are a range of brick and tiled outbuildings to the rear of the
property which are believed to have been used as a coal store, garden sheds and kennels.
There are also a number of basic and dilapidated timber sheds which have not been
considered within our valuation.
The property benefits from a good size site, with a small garden to the front, and good sized
rear garden. Whilst it is understood that approximately 5 acres of adjoining fields also form
part of the estate, we have been advised that this land is being valued separately, and has
therefore not been included in this valuation.
12.0 Construction:

Walls: 450mm solid stone with part 250mm solid brick.

Roof: Pitched and tiled.
Floors: Solid and suspended timber construction.
Joinery: Mainly UPVC double glazed units with some older timber units.

13.0 Services:
The property is connected to mains water and electricity. Drainage is in the form of a private
septic tank. There is no central heating system installed within the property.
14.0 Roads, Footpaths and Rights of Way:

The property is accessed across a partly made private track which is understood to be
owned by a separate party. It is therefore essential that adequate pedestrian and vehicular
rights of access are available. This valuation therefore assumes that adequate rights of
access are in place.
We are unaware of any maintenance responsibilities relating to this private track.
15.0 General Condition:

Whilst the property is found in a structurally sound condition, it has undergone minimal
modernisation and maintenance in recent years. The property is therefore in need of fairly
extensive improvement and modernisation.
Internal fittings and decorations are dated and are likely to require
modernisation. The electrical installation also appears dated and is therefore likely to
require renewal in the short term. Many purchasers would also budget for improving the
central heating arrangements.
Evidence of localised rising and penetrating dampness was noted. Whilst this
Is not presently causing a significant defect, future repairs should again be considered.

Parts of the external elevation have become worn, and general

maintenance/repointing will be needed. There are also some items of external
joinery which will again require replacement.
The brick and tiled outbuildings are in varying states of disrepair, and will
again require future attention.
Whilst none of these issues are considered to be structurally significant, it is felt that most
prudent purchasers would make allowances for the future costs of these works, and
therefore our valuation has taken account of these matters.
The above items should not be regarded as a detailed list and you are advised to obtain
various contractors reports and estimates before contract.
16.0 Environmental Matters:

I am not aware of any planning, highway or other proposals in the neighbourhood which are
likely to affect the property. This is a matter normally verified by legal advisers during pre
contract enquiries and local searches.
The property is located within an historic coal mining area. This valuation assumes the
property is not at risk from previous mine workings.
We are unaware that the property is affected by any flood risk.
17.0 Legal Matters:

The property is understood to have been re-roofed in the past 20 years. This valuation
assumes that all required statutory approvals will have been obtained for these works.
There do not appear to have been any other structural alterations. It is important that all
rights of access relating to the private drive are confirmed by the legal adviser.
18.0 General Remarks:

The property is formed by a traditional two storey semi detached house located in a fairly
remote rural setting. The property is accessed across a partly made private drive, and is
affected by a public footpath running directly in front of the main boundary.
The property would benefit from fairly extensive improvement and modernisation. Whilst
the property benefits from good sized gardens, we have ignored any value which would be
gained by the proximity of a 5 acre field which is believed to be owned by the same estate.
19.0 Insurance and Floor Area (Gross External):

Gross external floor area: 103 m2

For insurance purposes we recommend a minimum rebuilding cost of £180,000 (One
hundred and eighty thousand pounds).
20.0 Valuation:
I consider the property to have a current market value of £170,000 (One hundred and
seventy thousand pounds).
(The valuation is defined in the attached Terms and Conditions)
21.0 Reservations and Exceptions:

This report is subject to the attached Terms and Conditions.

We have not carried out a Building Survey, nor have we inspected those parts of the property,
which are covered, unexposed or inaccessible and such parts have been assumed to be in
good repair and condition. We cannot express an opinion about or advise upon the condition
of any parts not inspected and this report should not be taken as making any implied
representation or statement about such parts.
We confirm the following:
1. We are experienced in valuing this type of property in the area.
2. We have professional indemnity insurance (£1,000,000).
3. We confirm that our firm was not involved with the original purchase or has undertaken
any fee earning work on the property over the last 24 months for the vendor.
4. We confirm that our firm is not acting for the client or associated companies on any other
property matters.

22.0 Signature

…………………………………………….

Daniel Elliott, BSc(Hons) MRICS

Derbyshire Surveyors
38 Glumangate
Chesterfield
S40 1TX

Tel: 01246 559951

Email: dan@derbyshiresurveyors.com

Date of Report: XXXX

 Residential Valuation Report
Terms and Conditions
(To be read in conjunction with the Valuation Report)

Aims

This type of report expresses our opinion on the value of a property taking into account your
specified purpose for the valuation. It is important that the named client who relies on the
valuation knows why it is written. The report will therefore say what the purpose of the
valuation is, as will our letter which confirms your instructions.

Unless you ask us for a different basis of valuation, we assume that you want to know the
“Market Value” (MV) of the property as set out in the definition given by the Royal
Institution of Chartered Surveyors (RICS Appraisal & Valuation Standards) and which is as
follows:

“The estimated amount for which a property should exchange on the date of valuation,
between a willing buyer and a willing seller in an arm's-length transaction after proper
marketing wherein the parties had each acted knowledgeably, prudently and without
compulsion”.

Inspecting the Property

We will undertake a limited visual inspection of the property to the extent which is accessible
with safety and from within the boundaries of the site and/or from adjacent public/communal
areas. We will not carry out a survey or check the building or its services. If you feel that you
require a more detailed inspection then please ask for information on the RICS Homebuyer
Survey & Valuation (HSV) Service or the more detailed Building Survey Service.

Measuring the Property

All measurements that we take will be in accordance with the Code of Measuring Practice
issued by the Royal Institution of Chartered Surveyors. If for whatever reason dimensions or
areas are calculated from plans or other sources them we will state this in the report.

What we will assume

In order to meet the relevant requirements of the RICS Appraisal and Valuation Manual, the
Valuer will make the following assumptions;

(1) That no harmful or hazardous material has been used in the construction of the property or
has been incorporated since it was originally built and there is no contamination in or from
the ground and is not land filled ground.

(2) That there are no unusual or unreasonable restrictions or expenses affecting the propert

(3) That any legal or other statutory rights do not affect the property and its value.
(4) That the property has planning permission and/or building regulation approval for its use
at the time of our inspection.

(5) That no Radon Gas is present at the property.

If you obtain a Building Survey or any other report about the condition of the property or its
structure, please show it to our Valuer. Such a report may result in an alteration to our
valuation. If these reports refer to certain repairs then you are advised to get quotations before
you commit yourself to buying the property.

Tenure and Planning

Our Valuer will need to know whether the title to the property is freehold or leasehold and
whether there are any tenants living at the property. If the property is leasehold, or there are
tenants we will need to know the terms of the lease or agreement. We will rely on the
information relating to tenure and leases provided by you or your advisers.
You should tell us if you want the valuation to take account of any planning permission that
has been given (for example to build new buildings or an extension). We will confirm your
instructions in our report.

Enquiries

If you need the valuation because you are planning to buy the property, your solicitor should
carry out Searches and make enquiries necessary prior to legal entry to the property being
made. He or she must find out whether the person selling the property is the legal owner and
should also check things like planning restrictions, planned developments, rights of way and
architects certificates. We do not make enquiries on these points, so your solicitor should let
us know about any matters revealed by their investigations, which they think we should know
about.

Confidentiality and Copyright

Our report will be provided for the stated purpose and for your sole use as the named client. It
is confidential but you may show it to your professional advisers. We hold the copyright to
the report and you must not copy it or pass it on to anyone without our written approval.
Anyone else who relies on the report does so at his or her own risk.

Verbal Advice

Very often you are anxious to know details of the report and valuation before receipt of the
report. This is understandable but a word of warning. Any verbal advice that we may give
you quite naturally has its limitations and it can, on occasions, lead to misunderstandings.
You should not therefore take any action, such as committing yourself to purchasing the
property, until you have received, read and fully understood our written report and where
appropriate discussed it with your professional advisers.