VALUATION REPORT

of
FLAT NO. 703.
Through Applicant- Mr. Shaikh Mohammed Usman &
Mrs. Afroz Alim Shaikh.
At
Flat No. 703, 7th Floor, B Wing, Anand Height,
Shaikh Mistri Road, Antop Hill, Wadala East,
Mumbai, C.T.S. No. 331, 332, 333, 337, 338 of Matunga Division.

By
M. VALUERS SURVEYOR & ASSOCIATES.

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EXECUTIVE SUMMARY:

SR PARTICULARS AMOUNT (INR)

Govt. Guideline Value@2012 of
Flat No. 703, 7th Floor, B Wing,
RS. 43,09,305 /-
Anand Height, Shaikh Mistri
(RUPEES FORTY THREE LAC NINE
1 Road, Antop Hill, Wadala East,
THOUSAND THREE HUNDRED & FIVE
Mumbai, C.T.S. No. 331, 332,
ONLY.)
333,337,338 of Matunga
Division.
Market Value@2012 of Flat No.
703, 7th Floor, B Wing, Anand RS. 37,87,875/-
Height, Shaikh Mistri Road,
(RUPEES THIRTY SEVEN LAC EIGHTY
2 Antop Hill, Wadala East,
SEVEN THOUSAND EIGHT HUNDRED
Mumbai, C.T.S. No. 331, 332,
& SEVENTY FIVE ONLY.)
333, 337, 338 of Matunga
Division.

GENERAL INFORMATION:

VALUATION REPORT (IN RESPECT OF FLATS)

Date: 09-01-2023
I. GENERAL
Purpose for which the valuation is To Find Out Fair Market Value of the
1
made Property for year 2012.
Date of inspection 09-01-2023
2 Date as on which the valuation is 09-01-2023
made
Mahendra Kumar Gautam
3 Valuation Done By
B.E(Civil),AMIE,AIIISLA,CE

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 Joint Owners,
Name of the Applicant and Owner 1. Mr. Shaikh Mohamed Usman &
4 2. Mrs. Afroz Alim Shaikh.
Copy of Sale Agreement Document
List of Documents Verified
No. 10104/2016 dated 28/09/2016.
5 Brief description of the property Residential Flat
6 Location of property
C.T.S. No. 331, 332, 333, 337, 338 of
a) Survey No./ C.T.S. No.
Matunga Division.
b) T. S. No. / Village Wadala East
c) Ward / Taluka Mumbai
d) Mandal / District Mumbai
Flat No. 703, 7th Floor, B Wing,
Anand Height, Shaikh Mistri Road,
Postal address of the property Antop Hill, Wadala East, Mumbai,
7 C.T.S. No. 331, 332, 333, 337, 338 of
Matunga Division.
City / Town Wadala East
8 Area Residential
9 Classification of the area:
I High / Middle / Poor Middle
Ii Urban / Semi Urban / Rural Urban
Coming under Corporation limit /
10 MCGM
Village Panchayat / Municipality
Whether covered under any State /
Central Govt. enactments (e.g. Urban
11 Land Ceiling Act) or notified under State Govt. Enactments
agency area / scheduled area /
cantonment area

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 Boundaries of the property As per the Deed Actuals

Antop Hill Cha

North NA
Raja Building

12 Mehzabeen
South NA
Heights
Shaikh Mistry
East NA
Road
West NA Building
Full (455 Sq. Ft. BUA along with 1
13 Extent of the site
Car Parking)
Extent of the site considered for Full (455 Sq. Ft. BUA along with 1
14
valuation Car Parking)
Whether occupied by the owner /
15 Self-Occupied
tenant?
II. FLAT DETAILS
1 Nature of the Apartment Residential
Location
C.T.S. No. 331, 332, 333, 337, 338 of
C.T.S./ Survey/ Plot No.
Matunga Division.
2 Block/ Sector No./Ward No. -
Village/ Municipality / Corporation MCGM

Door No., Street or Road (Pin Code) Flat No. 703

Description of the locality Residential

3 Residential
/ Commercial / Mixed
4 Number of Floors -
5 Type of Structure RCC Structure
6 Number of Dwelling units in the Details not Provided
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 building
7 Quality of Construction Good
8 Appearance of the Building Good
9 Maintenance of the Building Good
III SPECIFICATIONS OF FLAT
1 The floor on which the Flat is situated 7th Floor
2 Door No. of the Flat Flat No. 703
Subject Property is a Residential Flat
No. 703, 7th Floor, B Wing, Anand
Height, Shaikh Mistri Road, Antop
Hill, Wadala East, Mumbai, C.T.S. No.
3 Specifications of the Flat 331, 332, 333, 337, 338 of Matunga
Division. Structure is RCC structure
and tile Flooring found with
amenities, Like Light and Water. Said
premises situated developing location.
House Tax Details not Provided
Assessment No. Details not Provided
4
Tax paid in the name of -
Tax amount -
Electricity Service Connection no. Details not Provided
5
Meter Card is in the name of Details not Provided
6 How is the maintenance of the Flat? Good
7 At site area 455 Sq. Ft. BUA
What is the floor space index (FSI)
8 NA
(app.)
Is it Posh/ I class / Medium /
9 Medium
Ordinary?

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 Is it being used for Residential or
10 Residential
Commercial purpose?
11 Is it Owner-occupied or let out? Owner Occupied
12 If rented, what is the monthly rent? -
1 Nature of the Apartment Residential
Location
C.T.S. No. 331, 332, 333, 337, 338 of
Plot/ Sector No.
Matunga Division.
2
Village/ Municipality / Corporation MCGM

Door No., Street or Road (Pin Code) Flat No. 703

Description of the locality Residential

3 Residential
/ Commercial / Mixed
Subject property is a Road Facing
property as well as it is in developing
9 Factors Favouring location. Civic amenities like Markets,
Hospital & School or Colleges are
within easy reach

V. VALUATION APPROACH:

Considering factor effecting following factor- Economy, Physical feature, social

& legal factor, Use of Properly, Transferability Scarcity & Demand. Land
varies widely in character, the value assessed per unit of one piece of land may
not situated adjacent to it. There are many factor affecting intrinsic values of
land some of them are discussed here in prospective. Size is very important
bearing on the value large size can-not be valued on the same basis of plot
having small area. For any kind of development large plot are requires
formation of road, drainage, water supply electricity line incidentally additional
cost etc. This will add to the cost on the basis value of land. This addition of
cost vary 20 % -40% Therefore this additional cost be deduct from fair market
value of large size land.
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Location of land is a prime factor in assessing fair market value plot will fetch
higher value if it is located in center. Land located in the mix development area
like industrial residential & commercial will fetch less value than the land .
land for purpose situated near station & Highways .Nature of soil of land play s
an important role in assessing fair market value if soil of land have poor
bearing capacity if land is low laying area filled with rubbish material soil of
plot has contamination , having undulating terrain etc will fetch lesser value
.Tenure of land is important factor in assessing fair market value. Generally
Land has tenure of two kinds, lease hold and freehold, the case of freehold land
the ownership is absolutely , while in leasehold land the land is transferred for
a certain time limit . The leasehold land fetches less price as compared to
freehold due to no of restriction imposed in lease land. Comparable sale instant
are important tool for assessing fair market value of land . The order of
performance shall be given to Sale of adjacent land in the same locality.
Adjoining locality. proximate Before coming to conclusion of assessing fair
market value of land its also conversant with . land Revenue Code , Transfer of
property act, Tenancy act, Town planning act, Property registration Act,
Easement act, Succession Act, Securitization & Reconstruction of financial
assets. And Enforcement of security internal act.

INSPECTION:

As per visual inspection carried out by us with the help of client’s

representative on 9th January 2012 of the property i.e. Flat No. 703, 7th Floor,
B Wing, Anand Height, Shaikh Mistri Road, Antop Hill, Wadala East, Mumbai,
C.T.S. No. 331, 332, 333, 337, 338 of Matunga Division. Subject property has
good Marketability and the communication i.e Internal Road is within 500
Meters Radius (as you can see in Screenshot of Google Location attached at the
end of the report.)

AREA DETAILS (AS PER DOCUMENTS)

455 Sq. Ft. BUA along with 1 Car Parking (As per Copy of Sale Agreement).
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 SUMMARY OF COMPARABLE SALE INSTANCES

AREA PURCHASE PURCHASE

DOC. AREA
SR ADDRESS (SQ VALUE RATE (RS/SQ
NO. (SQ FT)
MT) (INR) FT)
Flat No. 601, 6th Floor,
Anand Height, Shaikh
8719/
Mistri Road, Antop
1 2012 - 735 50,00,000 6,803
Hill, Wadala East,
Mumbai, C.T.S. No.
337.
Flat No. 704, 7th Floor,
Anand Height, Shaikh
Mistri Road, Antop
1603/
2 Hill, Wadala East, 65.33 703.21 50,00,000 7,110
2012
Mumbai, C.T.S. No.
337 (along with Car
Parking).
Flat No. 501, 5th Floor,
Shaikh Mistri Road,
6110/ Antop Hill, Wadala
3 68.3 735.18 70,00,000 9,521
2012 East, Mumbai, C.T.S.
No. 337 (along with
Car Parking).
Flat No. 801, 8th Floor,
Shaikh Mistri Road,
7376/
4 Antop Hill, Wadala 70.63 760.26 75,00,000 9,865
2012
East, Mumbai, C.T.S.
No. 337.

AVERAGE 8,325

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 VI. VALUATION
A. Fixation Of Rate:

To finding Market Value of the above Property for Year 2012 we have taken
Market Research method (Sale instances of comparable Properties) as a Basis.
Sale instances of Year 2012 are important tool for assessing Market Value of
the subject property.
As per our market Research method (Sale instances of comparable Properties),
Knowledge & Experience we have taken Average of Above Summary of Market
Research i.e. Rs. 8,325/- per Sq. Ft. on BUA including 1 Car Parking for
Residential Flats.

Market Rate for Subject Property @ Year 2012 = Rs. 8,325/- per Sq. Ft. on
BUA including 1 Car Parking.

B. Valuation:

VII RATE
Rs. 91,800/- per Sq. Mt. on BUA i.e. =
91,800 /10.764 = Rs. 8,528/- per Sq.
Guideline rate obtained from the
1 Ft. on BUA i.e. Super BUA for
Ready Reckoner of 2012
Residential Flats @Year 2012. (an
evidence attached thereof)

Fixation of Rate / Rate Adopted for Rs. 8,325/- per Sq. Ft. on BUA
2
Valuation including 1 Car Parking

455 Sq. Ft. BUA along with 1 Car

3 Area of Property
Parking

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Govt. Guideline Value@2012 of
Flat No. 703, 7th Floor, B Wing,
Anand Height, Shaikh Mistri Road,
4
Antop Hill, Wadala East, Mumbai,
C.T.S. No. 331, 332, 333, 337, 338
of Matunga Division.
Fair Market Value@2012 of Flat
No. 703, 7th Floor, B Wing, Anand
Height, Shaikh Mistri Road, Antop
5
Hill, Vadala East, Mumbai, C.T.S.
No. 331, 332, 333 of Matunga
Division.
6 CONCLUSION
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Area X Rate
Flat = 455 X 8,528 X 5%
= Rs. 40,74,252/-
Parking = 105 X 8528 X 5% X 0.25
= Rs. 2,35,000
Total Value = Flat + Parking
RS. 43,09,305 /-
(RUPEES FORTY THREE LAC NINE
THOUSAND THREE HUNDRED & FIVE
ONLY.)
Area X Rate
= 455 X 8,325
RS. 37,87,875/-
(RUPEES THIRTY SEVEN LAC EIGHTY
SEVEN THOUSAND EIGHT HUNDRED
& SEVENTY FIVE ONLY.)
On my Basis of my Inspection, analysis
and appraisal, it is my considered
opinion that the Fair Market Value of
Flat No. 703, 7th Floor, B Wing, Anand
Height, Shaikh Mistri Road, Antop Hill,
Wadala East, Mumbai, C.T.S. No. 331,
332, 333, 337, 338 of Matunga Division
for Year 2012 is RS. 37,87,875/-
(RUPEES THIRTY SEVEN LAC EIGHTY
SEVEN THOUSAND EIGHT HUNDRED
& SEVENTY FIVE ONLY.) is Fair and
reasonable.
NOTES & LIMITATIONS:

1. Our valuation is based on our experience and knowledge & this is an

opinion only and does not stand as a guarantee for the value it can fetch if
disposed, due to any emergency, in future.

2. If any second opinion may be differ, we will not be responsible for it.

3. The legal documents pertaining to the ownership of the above said

property has been referred to on its face value. We do not certify the veracity of
the documents. This report does not certify valid or legal or marketable title of
any of the parties over the property. Our report does not cover verification of
ownership, title clearance, or legality.

4. Our valuation is only for the use of the party to whom it is addressed and
no responsibility is accepted to any third party for the whole or any of its
contents.

5. Encumbrance of Loan, Government and other dues, stamp duty,

Registration charges ,transfer charges etc ,if any are not considered in the
valuation. We have assumed that the assets are free from encumbrances.

6. The value given in our report is only an opinion on the FMV as on date. If
there is any opinion from others/valuers about increase or decrease in the
value of the assets valued by us, we should not be held responsible as the
views vary from person to person and based on circumstances. The principle of
“BUYERS BEWARE” is applicable in case of any sale/purchase of assets.
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7. This report should be read along with legal due diligence report. It is
presumed that the Xerox of documents are taken from the originals duly tested
and verified at ultra violet lamp machine (UVL) about Veracity.

8. It should be noted that M Valuers Surveyors and Associates value

assessment are based upon the facts and evidence available at the time of
assessment. It is therefore recommended that the value assessment be
periodically reviewed.

ENCL:
GOOGLE LOCATION:
READY RECKONER RATE SS FROM IGR-MAHARASHTRA:
SS OF COMPARABLE SALE INSTANCES OF ACTUAL SALE TRANSACTIONS:
PHOTOGRAPHS:

MAHENDRA KUMAR GAUTAM

GOVT REGD VALUER

Regd No- CCIT/Th/350/5/1/6/2010-11

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GOOGLE LOCATION:

READY RECKONER RATE:

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SS OF COMPARABLE SALE INSTANCES OF ACTUAL SALE TRANSACTIONS:

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PHOTOGRAPHS:

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