****LOCATION ****

PLOT NO: 5360 IN RUSUMO CELL, BUTARO SECTOR, BURERA DISTRICT, NORTHERN PROVINCE.

CONSULTANT: Eng. Jean Pierre NDAYISENGA

CERTIFIED VALUER

Phone: +250 783 544 255

November, 2013

PROPERTY VALUATION REPORT

OWNER: NSHIMIYIMANA Adrien

EXECUTIVE SUMMARY

Valuation report no: NDJP/EG/Bra/21/11/2013 Date: 21/11/2013

Property

Identification

Category of Property Medium Standing

The intended use Residential

Location

Plot number: 5360

Plot Area: 1247 sqm

Location: Rusumo Cell, Butaro Sector, Burera District, Northern Province.

Photos are attached.

Physical

conditions of the

property

The property is in the following conditions

The property is located in Butaro center near sector’s

ofice.

Land is surrounding by Residential & commercial

properties.

Lease contract documents have been issued to this

property.

Ownership

Ownership is by Title deed- 20 years lease contract

Owned by: NSHIMIYIMANA Adrien

VALUATION SUMMARY

Established value for

completed works

Ninety Two Million Four Hundred Forty Three Thousand Rwandan Francs

(92,443,000 Rwf)

Prepared by Ir. Jean Pierre NDAYISENGA

INTRODUCTION

Aim of valuation

As requested by Mr. NSHIMIYIMANA Adrien, to carry out survey/Valuation of his property

in plot no 5360, in Rusumo Cell, Butaro Sector, Burera District, Northern Province. On 22th November, 2013, Eng. Jean Pierre NDAYISENGA, certified Valuer assisted by Eng. Vianney

NTIBAZIYAREMYE conducted the site/field survey to gather with the client for data collection leading to this final report.

NSHIMIYIMANA Adrien needs to know the current value for this Property, after expressing the idea he assigned me to prepare for him the valuation report. Therefore this valuation report establishes:

The Current Value of Land

The current value of Residential Houses

THE VALUER

Name: Eng. Jean Pierre NDAYISENGA

Professional status: Certified Valuer

Institute of Real Property Valuers registration number: IRPV/084/2012

Registration number in Certified Valuers Register: RC/IRPV/ IRPV/084/2012

Address:

Tel: + (250)783544255

Email: jpinday@gmail.com

PROPERTY DETAILS

Name of property owner: NSHIMIYIMANA Adrien

Location: Rusumo Cell, Butaro Sector, Burera District, Northern Province.

Plot number: 5360

Plot Area: 1,247 sqm

Ownership papers: 20 years lease contract.

ANALYSIS

Materials

- Foundation in rubble stone with cement

- Brick walls with cement mortar

- Timber roof truss and corrugated iron sheets

- Tiled floor and bath room appliances in ceramic materials

- Metal doors and exterior windows

- Plywood ceiling boards

- Paint on cement plastered walls

- 5 bed rooms, sitting, dinning and 2 bath rooms with 2 verandah

- 3 small houses and septic tank

- Sanitary fittings

- Water and electricity/ EWSA

- Flower garden

- Concrete paved parking and drying yard

- Concrete columns and lintel.

Valuation methods

This valuation is governed by gazette law N°17/2010 of 12/05/2010 which establishes and

organizes the profession of real property valuation in Rwanda.

Adopting the valuation methods stipulated in the law the relevance of each method is tested in

favor of the property in question as follows:

Comparable prices method

Argument

Many plots have similar physical conditions similarities. However there are enough comparable sales records for the last 6 months.

Conclusion

Comparable prices method suits the aim of this valuation.

Comparison of land values countrywide as an alternative land valuation method,

Argument

As above

Conclusion

As above

THE FOLLOWING IS THE ACTUAL SITUATION:

№ Development determinant Yes No

1. Is there tarmac main road √

2. Are there tertiary tarmac roads √

3. Is there storm water drainage facility in the

interior of the area

√

4. Is there waste water drainage facility in the area √

5. Is there power supply line √

6. Is there water supply line √

7. Are there fire hydrant terminals √

8. Is there fiber optic line √

9. Is public transport adequate √

10. Is there a shopping center √

11. Is there accessible nursery school in the area √

12. Is there accessible secondary school in the area √

13. Is there accessible university in the area √

14. Is there big number job provider (factory, hotel,

market etc.)

√

15. Are there sporting/ exercises facilities (gym etc.) √

16. Is there children play ground √

17. Is there a modern market √

VALUATION

I. MAIN HOUSE

1 Built year 2,013 year

2 Built area 291 Sqm

3 Unit Price/Sqm 200,000 Rwf

4 Actual Value 58,290,000 Rwf

5 Depreciation - RwfCurrent Venal Value 58,290,000 Rwf

II. SMALL HOUSES

1 Built year 2,013 year

2 Built area 180 Sqm

3 Unit Price/Sqm 70,000 Rwf

4 Actual Value 12,600,000 Rwf

5 Depreciation - RwfCurrent Venal Value 12,600,000 Rwf

III. FENCE AND RETAINING WALLS

1 Built year 2,013 year

2 Built area 370 Sqm

3 Unit Price/Sqm 45,000 Rwf

4 Actual Value 16,650,000 Rwf

5 Depreciation 1,332,000 RwfCurrent Venal Value 15,318,000 Rwf

IV. Plot/ Land

1 Parcellar Area 1,247 Sqm

2 Unit Price/Sqm 5,000 Rwf

Current Value 6,235,000 Rwf

V. SUMMARY

1 MAIN HOUSE 58,290,000 Rwf

2SMALL HOUSES & WASTE WATER

DRAINS 12,600,000 Rwf

3 BRICK FENCE AND RETAINING WALLS 15,318,000 Rwf

4 LAND 6,235,000 RwfCurrent Value 92,443,000 Rwf

Total value in words:

Ninety Two Million Four Hundred Forty Three Thousand Rwandan Francs (92,443,000 Rwf)

DESCRIPTIVE PHOTOS