VALUATION REPORT OF:

BIMENYIMANA BOAZ AND ABAYISENGA CHARLOTTES PROPERTY

LOCATED

IN

PLOT

NUMBER:

4249,

UPI:

5/01/12/03/4249

RUHANIKA VILLAGE, GISHORE CELL, NYAKALIRO SECTOR,

RWAMAGANA DISCTICT AND EASTERN PROVINCE

VALUER:
Eng MUREKASHUNGWE Evergiste
Contact:
(+250) 788831387
(+250)730672262
E-MAIL:
everg3@yahoo.fr

August, 2016

Entreprise HYECONS // Valuation Report

Eng. MUREKASHUNGWE Evergiste, MSc; Certified Real Property Valuer
Content

I.GENERAL INTRODUCTION............................................................3
1.1. INTRODUCTORY NOTE.............................................................3
1.2. VALUERS IDENTIFICATION......................................................3
1.3. GENERAL EXECUTIVE SUMMARY..............................................3
1.4. IDENTIFICATION OF THE PROPERTY.........................................4
1.5. EXPLANATION OF THE PROPERTY...........................................5
1.5.1. LOCATION: PHYSICAL REFERENCE........................................5
1.5.2. OWNERSHIP PAPERS...........................................................5
1.5.3. PROPERTY DESCRIPTION.....................................................5
1.6. VALUATIONS...........................................................................5
1.6.1. DISCUSSION OF VALUATION METHODS..................................5
1.6.3. DATE OF INSPECTION...........................................................7
1.7CONCLUSION............................................................................ 8
II.PHOTO GALLERY........................................................................9

Civil Engineering, Hydraulics, Design, Construction, Valuation, Supervision

Mob. 0788831387; E-mail: everg3@yahoo.fr

Entreprise HYECONS // Valuation Report

Eng. MUREKASHUNGWE Evergiste, MSc; Certified Real Property Valuer

I.GENERAL INTRODUCTION
1.1. Introductory note
As requested by EQUITY BANK LTD, to carry out a survey/valuation of the property that is
located in plot no: 4249, UPI: 5/01/12/03/4249 RUHANIKA VILLAGE, GISHORE CELL,
NYAKALIRO SECTOR, RWAMAGANA DISCTICT AND EASTERN PROVINCE. On 19th
August, 2016, we conducted the site/field survey to gather with the client for data
collection leading to this final report.

1.2. Valuers identification

Item Nbr
1
2

Item
Names
Registration

Address

Item Description
MUREKASHUNGWE Evergiste
-Registration at the Institute: A/030/IRPV/2010
-Certificate number: RC/IRPV/030/2010 (see notarized copy
of certificate attached)
-Cell: 0788831387/ 0730672262;
-Email: everg3@yahoo.fr

1.3. General executive summary

EQUITY BANK LTD needs to know the current value for the property, plot number 4249,
UPI: 5/01/12/03/4249 RUHANIKA VILLAGE, GISHORE CELL, NYAKALIRO SECTOR,
RWAMAGANA DISCTICT AND EASTERN PROVINCE; after expressing the idea he
assigned me to prepare for him the valuation report. Therefore this report establishes: The
current value of the land and Residential building value.

1.4. Identification of the Property

Property Identification

Category of Property
Residential
Rural areas

Civil Engineering, Hydraulics, Design, Construction, Valuation, Supervision

Mob. 0788831387; E-mail: everg3@yahoo.fr

Entreprise HYECONS // Valuation Report

Eng. MUREKASHUNGWE Evergiste, MSc; Certified Real Property Valuer
building

Suburbs and large density area

Medium scale in No planned area
Medium and High scale in planned area
Commercial
/ Low scale in Town
Administrative
Low scale in Suburb
Office
Medium and High scale
Industrial
Low scale in Town
Low scale in Suburb
Medium and High scale
Land
Bare land
Farm
Valuation
Methods Valuation by comparison
Used
Valuation by Replacement value
Land comparison
Valuation by Revenue
Others (specify)
Key
Property
1877 SQM
Surface
Characteristics

OK

OK
OK

TEN MILLION NINE HUNDRED FIFTY SIX

THOUSAND SEVEN HUNDRED AND NINITY
FOUR RWANDAN FRANCS ONLY (10,956,794
RWF).
FORCED
SALE SIX MILLION FIVE HUNDRED SEVENTY
VALUE @60% OF FOUR THOUSAND AND SEVENTY SIX
THE TOTAL VALUE RWANDAN FRANCS ONLY (6,574,076 FRW).
Value

Date

22/08/2016

Comments
The property is easily accessed by road

1.5. Explanation of the property

1.5.1. Location: physical reference
The property is located in RWAMAGANA District, NYAKALIRO Sector, and GISHORE Cell.
A reference to the photo gallery gives an idea of what the property is currently and what it
looks like in the environment.

1.5.2.

Ownership papers

Owned property is registered in NKOTSI Sector as no: 4249 by national land center Owner:
BIMENYIMANA BOAZ AND ABAYISENGA CHARLOTTE.
Civil Engineering, Hydraulics, Design, Construction, Valuation, Supervision
Mob. 0788831387; E-mail: everg3@yahoo.fr

Entreprise HYECONS // Valuation Report

Eng. MUREKASHUNGWE Evergiste, MSc; Certified Real Property Valuer

1.5.3.

Property description

The property consists of one building. Below is a summary breakdown of the description of
the property components.

Main residential building:

1. Construction period: 2013
2. 4 rooms
3. Foundation in stone masonry
4. Adobe brick walls elevation
5. Covering with iron sheet
6. Paving with cement screed
7. Internal wooden door

1.6. Valuations
1.6.1. Discussion of valuation methods
The Law N17/2010 of 12/05/2010 establishing and organizing the profession of real
property valuation in Rwanda proposes a number of valuation methods. The valuer has
analysed all methods as follows and found that the replacement cost method was
appropriate combined with land comparison for the case.
Valuation by comparison and Land comparison: the Institute of Real Property Valuers
in Rwanda (IRPV) and the country in large does not have any official data as per which
properties should be compared though prices around in the district have been seemingly
increasing in recent past years.
However, the market behaviour in gives a way to look at lands in a comparative way since
plots and lands, and properties at large have been getting bought and resold frequently,
the reason why the valuer has to apply a comparative analysis in as far as land was
concerned.
Valuation by Replacement value: The method gives a way of valuation by considering
quantities of work for developments made on the property versus costs. Facing a case with
completed houses, the valuer has found this method also appropriate for the case and has
applied wherever houses and buildings are concerned

1.6.2. Data analysis for cost estimates

Civil Engineering, Hydraulics, Design, Construction, Valuation, Supervision
Mob. 0788831387; E-mail: everg3@yahoo.fr

Entreprise HYECONS // Valuation Report

Eng. MUREKASHUNGWE Evergiste, MSc; Certified Real Property Valuer
Detailed data have been captured on the construction site of the building, and have been
treated by making an estimation of cost new by applying market rate to the quantities. The
final result was the value of the property. Details are given below in a table.
VALUATION

MAIN BUILDING

VALUES
2013
3

1 Building year
2 Duration (YEARS)
3 Type of investment

Adobe brick

4 Area (Sqm)
5
6
7
8
8
10

59.345

Unit price/Sqm (Rwf)

Useful life (years)
New state value (Rwf)
Annual rate of depreciation (%)
Depreciation per annum
Actual venal value (Rwf)
S/TOTAL

45,000
50
2,670,525
2.00
53,411
2,510,294
2,510,294

PLOT
1 Parcellar area (Sqm)
2 Unit price Rwf/sqm
3 Actual value for plot (Rwf)
S/TOTAL
SUMMARY

1,877
4,500
8,446,500
8,446,500

AMOUNT

No

ITEMS

A
B

MAIN RESIDENTIAL BUILDING

2,510,294

PLOT

8,446,500

TOTAL FOR ALL

10,956,794

Total Value of the property is: TEN MILLION NINE HUNDRED FIFTY SIX
THOUSAND SEVEN HUNDRED AND NINITY FOUR RWANDAN FRANCS
ONLY (10,956,794 RWF).
FORCED SALE VALUE of total value @ 60% is: SIX MILLION FIVE
HUNDRED SEVENTY FOUR THOUSAND AND SEVENTY SIX RWANDAN
FRANCS ONLY (6,574,076 FRW).
Civil Engineering, Hydraulics, Design, Construction, Valuation, Supervision
Mob. 0788831387; E-mail: everg3@yahoo.fr

Entreprise HYECONS // Valuation Report

Eng. MUREKASHUNGWE Evergiste, MSc; Certified Real Property Valuer

1.6.3. Date of Inspection

The property was inspected during the month of August on the 19 th. Therefore, the date of
this valuation is August 22, 2016 and the values expressed herein are those current on the
said date.

1.7CONCLUSION
Taking into account the size of the property and its location together with evidence on sale
prices of comparable properties in the neighbourhood available to us; we confirm that the
Current value of the Building of: BIMENYIMANA BOAZ AND ABAYISENGA CHARLOTTE is
TEN MILLION NINE HUNDRED FIFTY SIX THOUSAND SEVEN HUNDRED AND
NINITY FOUR RWANDAN FRANCS ONLY
(10,956,794 RWF).

Certification
This valuation report has been prepared for EQUITY BANK to serve the purpose it may be
required for, by Eng MUREKASHUNGWE Evergiste as a Certified Real Property Valuer.
Done at Kigali
On August 22, 2016
Civil Engineering, Hydraulics, Design, Construction, Valuation, Supervision
Mob. 0788831387; E-mail: everg3@yahoo.fr

Entreprise HYECONS // Valuation Report

Eng. MUREKASHUNGWE Evergiste, MSc; Certified Real Property Valuer

Eng MUREKASHUNGWE Evergiste

II.PHOTO GALLERY

Civil Engineering, Hydraulics, Design, Construction, Valuation, Supervision

Mob. 0788831387; E-mail: everg3@yahoo.fr

Entreprise HYECONS // Valuation Report

Eng. MUREKASHUNGWE Evergiste, MSc; Certified Real Property Valuer

Civil Engineering, Hydraulics, Design, Construction, Valuation, Supervision

Mob. 0788831387; E-mail: everg3@yahoo.fr