Property valuation in Dubai: Benefits, Process and Fees

Property valuation in Dubai is an estimation of the actual value or worth of a specific property. People who intend to transfer, mortgage and buy and sell properties in Dubai should get a property evaluation to determine the market value of a specific property. All types of properties can be evaluated. No matter whether it is a villa, apartment or any other type of real estate.

If you want to sell or buy a property in Dubai then you should know the estimated worth of that specific property. You can go for an online or in-person property evaluation before making any major decision. Property evaluation will help you understand the value of your property, understand market trends and make profitable deals. The Dubai Land Department offers property valuation services.

It is an essential step for people involved in property transactions such as buying, selling, or mortgaging. This process helps individuals understand the market trends, make informed decisions and secure profitable real estate deals. In simple terms, property valuation is a process that facilitates real estate transactions by determining the market value of a specific property.

Benefits Of Property Valuation In Dubai:

This practice allows buyers and sellers to find the estimated price of any specific property. It prevents buyers from paying more than the actual worth and also prevents sellers from getting less than the actual worth of their properties.

Helps Resolve Disputes

Property evaluation provides an objective assessment of a specific property’s worth. Fair valuation of a property can be used to settle disputes between buyers and sellers because it also serves as a negotiation tool. Given that, this unbiased analysis of a property’s value determines the fair market value of a specific property and resolves disputes that may emerge between both parties.

Helps Secure Mortgage

If a buyer intends to get a loan by using the property as security then his property is evaluated to get the correct value and worth of that real estate. People who seek a loan for construction purposes can also secure property loans through property evaluation. This process is deemed a crucial step in ensuring the financial viability of the transaction. Normally, lenders rely on property valuation to determine the value of the asset being used as security.

Helps Evaluate Profitability

Property valuation determines the profitability of an income-generating property. It also assists in comprehending the local rental trends and estimated income. Generally, it plays a multifaceted role in the assessment and management of income-generating property. This process also provides insights into the viability and sustainability of the income stream generated by a property.

Assists In determining Pros And Cons

Property valuation also helps people understand the pros and cons of a specific property. This report normally includes the estimated worth of a specific property, structural viability, location and benefits.

How To Perform Property Valuation?

Property valuation is deemed a crucial part of managing real estate properties in Dubai. It helps owners to evaluate their properties and find the market values of properties. It is the evaluation of a property’s market value. Several factors are considered to evaluate the value of a specific real estate. This process helps real estate buyers and sellers to make a better choice after finding the value of a particular property. The DLD department helps people in finding the values of properties in Dubai.

Required Documents

• Valuation request form
• Copy of owner’s Emirati ID card or passport
• Copy of the title deed
• Copy of the property map
• Letter from the owner

For the valuation of vacant land, a requester needs must also submit the following documents.

• No Objection Certificate from the developer or bank
• Sales or purchase agreement

For the valuation of residential villas which a user owns, he is required to submit the following additional documents.

• Built-up construction area
• Statement showing the number of units
• Expenses statement for the last three years
• Ejari contract for each unit

Submit the following additional documents for the valuation of a hotel building.

• Build-up construction area
• Expenses statement showing net profit over past three years
• Room rental value
• The number of facilities on its premises
• Hotel management contract
• Tax letter from Dubai Municipality

Property Valuation In Dubai Price:

In order to get a property valuation, one needs to submit the stipulated fees.

• AED 2,000 for the valuation of vacant residential land + service partners fees 180+ VAT
• AED 10,000 for the valuation of a major real estate project + service partners fees 430+ VAT
• AED 4,000 for the valuation of a residential apartment or villa in Dubai + service partners fees 230+ VAT
• AED 15,000 for the valuation of a hotel building + service partners fees 530+ VAT

Besides these, one also has to pay AED 10 as knowledge fees and AED 10 as innovation fees.

Payment Methods:

Applicants have to pay the required fee via the following means

• Cash
• Credit or Debit card
• ePay

Process To Request Property Valuation In Dubai:

Property valuation can be requested via two means: Dubai Rest App and Visiting The Real Estate Service Trustee Centres.

Requesting Via The Real Estate Service Trustee Centres

A requester needs to submit the required documents to the officer .

The officer then enters the transaction data into the system.

Customers have to pay the required fees and receive a receipt.

The customer then receives the property valuation certificate Dubai through email within one to eight working days.

Property Valuation In Dubai Online

An applicant has to create an account or log in if he has already an account on the Dubai Rest Mobile Application.

Now choose the property valuation service.

Add the required details and submit the asked documents.

Pay the fees through any available payment channel.

The data is then verified by DLD.

The request is approved or rejected.

If the request is approved, the applicant receives a valuation certificate via email.

Property Valuation Companies In Dubai:

There are several property valuation companies operating in Dubai that offer in-class real estate valuation services. The ultimate purpose of these companies is to facilitate clients and help them make the best and the most knowledgeable decisions.

If you want to know an accurate estimate of the worth of your real estate property then you can seek the services of real estate valuation companies in Dubai. No matter whether you seek residential real estate valuation or commercial property valuation in Dubai, these companies can assist you.

Factors To Consider While Choosing A Property Valuation Company:

You should consider the following factors before getting the services of a company to ensure reliability and accuracy

• Consider the reputation and extensive expertise of a company in this specific domain.
• Verify that the company or a professional is accredited or authorized to offer these services.
• Check whether a company or a professional has expertise in property types that you own.
• Consider a company that has an in-depth understanding of market trends, property values and market dynamics.
• Look for a company or a professional who follows a transparent valuation process.
• You can also seek references and recommendations from trusted sources such as real estate agents.

Final Thought:

Property valuation in Dubai is a process that helps buyers and sellers have a clear idea about the value and worth of real estate. This process provides an accurate estimate of a property’s value and worth and it also facilitates fair transactions and helps resolve disputes between buyers and sellers. Valuation of a property improves and fosters a decision-making process.

It plays a crucial role in the real estate landscape of Dubai because it allows individuals to navigate the property market with confidence. If you want to buy and sell property in Dubai then you should consider the property valuation process to make an informed decision. 

Get Experts’ Advice:

Kelt and Co Realty assists people in real estate buying and selling in Dubai. This real estate agency mainly operates in Dubai. Its professionals are always there to guide you and walk you through the complexities of real estate deals and transactions. Getting the services of an expert reduces the risk of losses and increases the chances of getting a high ROI.

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