UNIVERSITY OF MAURITIUS

FACULTY OF ENGINEERING

SECOND SEMESTER EXAMINATIONS

DECEMBER 2008

PROGRAMME Diploma in Land Surveying

MODULE NAME Land Development

DATE Thursday MODULE CODE CIVE 2225D

11 December 2008

TIME 9:30 – 11:40 Hours DURATION 2 Hours

+
10 MINS
READING
TIME

NO. OF 7 NO. OF 7
QUESTIONS QUESTIONS TO
SET BE ATTEMPTED

INSTRUCTIONS TO CANDIDATES

Answer All Seven (7) Questions.

Amount of R1 valuation table is enclosed.

 LAND DEVELOPMENT - CIVE 2225D

Question 1

(a) Describe the different interests in land.

[2 marks]

(b) What is Real Estate?

[3 marks]

(c) How is a leasehold interest created?

[2 marks]

(d) Surveyors make careful distinction among the terms price, cost and value.
Explain.
[3 marks]

Question 2

(a) Define Open Market Value.

[5 marks]

(b) What do you understand by the highest and best use to which a portion of
land can be put to?
[5 marks]

(c) Is it possible that Planning Regulations may affect the highest and best use of
a given property?
[5 marks]

Question 3

(a) List the 3 methods of Valuation.

[3 marks]

(b) Describe any 2 of the above methods in details.

[4 marks]

(c) To many Real Estate Appraisers there is today an URGENT need to favour a
scientific approach for the valuation of properties. Give your comments.
[4 marks]

(d) Distinguish between a capitalization rate and a discount rate.

[4 marks]

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 LAND DEVELOPMENT - CIVE 2225D

Question 4

(a) “Land represents all the natural elements of a nation’s wealth and is also
regarded as one of the 4 agents of production, alongside with labour, capital
and coordination.

There are several attributes which are attached to land and shared by land
professionals in general.”

(i) Discuss the above quotation.

[2 marks]

(ii) List the attributes.

[3 marks]

(b) Explain in details the perception on which real estate value rests.
[5 marks]

(c) Mauritius is now opening some of the real property sub-markets to

foreigners. Prospective buyers from abroad expect several commitments
from the Government or State. Discuss.
[5 marks]

Question 5

Trustworth Realtor has compiled modal sale prices of vacant plots of residential
land in different areas of the Black River District at Pointe aux Sables, Albion, Flic-
en-Flac, La Mivoie and Le Morne during the period 2004 to 2007.

Their records reveal the following sales’ rates a square metre as listed below.

Selling Rate a square metre (Rupees)

Year 2004 2005 2006 2007

Location

Pointe aux Sables 1315 1540 ….. 2100

Albion 1450 ….. ….. 2240

Flic-en-Flac 2100 ….. 2450 2650

La Mivoie 1810 ….. ….. 3680

Le Morne 1850 ….. ….. 3150

(Continued next page)

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 LAND DEVELOPMENT - CIVE 2225D

Question 5 (Continued)

(a) Indicate the achieved selling rates on a square metre basis respectively for
Albion, Flic-en-Flac, La Mivoie and Le Morne in 2005.
[3 marks]

(b) Indicate the achieved selling rates on a square metre basis respectively for
Pointe aux Sables, Albion, La Mivoie and Le Morne in 2006.
[3 marks]

(c) Calculate the rate of growth on a square metre basis during the period 2004 to
2007 for each locality or area.
[4 marks]

(d) Project the expected rate of growth on a square metre basis in 2009 for each
locality.
[5 marks]

Question 6

(a) “Supply refers to the availability of the real estate product and in its analysis,
there is the need to compile an inventory of properties competing with the
subject property.”

What are the different factors which have to be studied?

[7 marks]

(b) “Demand analysis for any particular type of property focuses on the end
product or service that real estate provides.”

What are the important factors in demand analysis for the residential market?

[8 marks]
Question 7

Market analysis remains a prerequisite in assessing the potentiality of a given

property to accommodate one or several higher uses. It is indeed a comprehensive
study, requiring detailed investigation of several factors.

(a) List the 5 broad factors. [5 marks]

(b) Choose any one of the broad factors and explain in details the different
features. [5 marks]

(c) What is a market segment? [5 marks]

END OF QUESTION PAPER

sg/

Page 3 of 3
LAND DEVELOPMENT - CIVE 2225D

VALUATION TABLE (Amount of R 1.)

Years

Rate (%) 3 5

5 1.1576 1.2763

6 1.1910 1.3382

7 1.2250 1.4026

8 1.2597 1.4693

9 1.2950 1.5386

10 1.3310 1.6105

12 1.4049 1.7623

14 1.4815 1.9254

15 1.5209 2.0114

16 1.5609 2.1003

17 1.6016 2.1924

18 1.6430 2.2878

19 1.6852 2.3864

20 1.7280 2.4883

25 1.9531 3.0518

26 2.0004 3.1758

27 2.0484 3.3038

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