AUGUST 2008-
Mr. Samuel Benson Adjei , Principal Valuer of Land Valuation Board highlights key pointers involved in the valuation of Property in Ghana, in a Q & A with GPP.
Q. Can we have a brief background on Land Valuation Board?
A. Land Valuation Board was established in 1986 and is mandated by government to solely under take valuation of lands and property. The board however renders valuation services to the general public as well as any government agencies. We are called upon to determine the value of any property that the government has a stake in, be it for sale, rental, and purchase or for compensation purposes.
Q. What factors are considered when valuing a land?
A. There are a couple of factors that affect the value of piece of land. Some of these may be the location of the land, available social amenities, nearby development and infrastructure. The planning layout of an area is also taken into consideration. A plot of land in a well-planned area will be of higher value than the same size of land in a poorly planned area.
Q. Can a land change value?
A. Yes, a lands change value everyday. There are so many things that can enhance the value of land. One such thing is road construction. Construction of road can place value on a property because the moment the place value becomes accessible people begin to prefer that area. Alternatively, the value of an area can appreciate when a prominent real estate developer puts up structures there.
Q. Do you notify the owners before valuing their property?
A. It depends on the kind of valuation. When rendering compensation valuation for example, during road construction by government where properties along the path of road will be affected, the valuer issues property owners with a notice of valuation informing them that the government has acquired their lands for that purpose. However, if an individual wants the board to value a property for sale, rental or purchase, the individual will have to issue the board with a notice.
Q. What can I do if disagree with the valuation the Assessor has placed on my property?
A. You can appeal to the Land Valuation Board, informing us that the value we placed on your land is on the lower side, and that you think your property is worth much more. You can then get an external valuer to go through the valuation, after which you submit a valuation report to the Board for discussion.

BY: ANGELA AFOTEY