To:

From:
Date:
Subject:

Head of Estate Services

Edmond E. Sunday (HEO)
8TH October, 2014
Survey Inspection and Valuation report on plot No.60 Cadastral Zone B09 Kado
District, Abuja. With File No. MISC 51540
Brief

Head of Estate Services

1
2

Purpose

Deed of Assignment

Date of Inspection

15th September, 2014

Property Location

Plot No.60 Kado District, Abuja.

Brief Property Description

Development on site comprises an office complex under

Construction at first floor decking level.

Plot Size

5230.42sqm

Current Title Holder

Alhaji Abubakar Mohammed

Prospective Holder

Eighteenth Engineering Co. International Ltd.

Status of Title Held

Certificate of Occupancy

10

Commencement date

17TH day of July, 1995

11

Unexpired term

80years

12

C of O Registration

No 2187 at page 2187 in Volume 11

13

Infrastructure

No water, road untarred, electricity available

14

Method of Valuation

Replacement Cost (approved rates)

15

Assumption / Limitation

a). Trueness correctness supplied

b).
Good and marketable
c).
property unencumbered

information

DETAILED VALUATION COMPUTATION

N

Main Office
A. 5m2 x 9m2 = 45 X 2(floor) =90m2
90m2 @N150,000 / m2
B.

8m2 x 20m2
= 160m2
2
1600m @N150,000 / m2

Less outstanding work, 70% of 37,500,000.00

Fence Area
252.89mr @ N 5,000/m2
Value of Improvement

24,000,000.00
37,500,000.00
=

11,250,000.00

1,264,450.00

12,514,450.00

Add Land Value

Size: 5,230.42m2 @ N20,000 /m2
Capital Value
Say

13,500,000.00

=
=
=

104,608,400.00

117,122,850.00
117,122,900.00

VALUATION OPINION:
Having regards to the location, neighborhood character, improvements on site as well
as the appraisal process, the Valuer is of the opinion that the improvements on plot
no 6, Abuja, commands a value in the region N117,122,900.00 ( One Hundred
and Seventeen Million, One Hundred and Twenty-Two Thousand Nine
Hundred Naria) only

Edmond E. Sunday
Higher Estate Officer

Director (Lands).
Please, at page 87 is an application from Alhaji Abubakar Mohammed, holder of
Certificate of Occupancy No.18cfw-df5cz-6787r-d340u-20 with file No. Misc 51540
Covering Plot No.60 Cadastral Zone B09 Kado District, Abuja, seeking Honourable
Ministers consent to assign the unexhausted interest in the property in favour of
Eighteenth Engineering Co. International Ltd.
2 The subject property had earlier exchange hands between the title holder, Dalice
Property Development Company Limited and Alhaji Abubakar Mohammed by virtue of
Power of Attorney, vide page 77 and abc.
3.

Development on site Comprises an office complex under construction.

4.
Adopting the approved rates for property Valuation within the Federal Capital
Territory and a Land Value Rate of N20,000/m 2 as applicable to the area, a Capital
Value of N117,122,900.00 ( One Hundred and Seventeen Million, One
Hundred and Twenty-Two Thousand Nine Hundred Naria) only was arrival at.
5.
You may wish to request the Hon. Minister to consider and approve the
application to assign plot No.60 Cadastral Zone B09 Kado District, Abuja , in favour of
Eighteenth Engineering Co. International Ltd, subject to the payment of the
following fees:a.
b.
c.
d.
e.

Capital Gain Tax

Stamp Duty
Registration Fee
Consent Fee
Processing Fee
Total Fees Payable

Bassey E. Nkang
Head of Estate Services

N 5,856,145.00
N 1,756,844.00
N 1,756,844.00
N
10,000.00
N
10,000.00
N 9,389,832.00

MEMO
To:
Thro:
From:
Ref:
SUBJECT:
Date:

FEDERAL CAPITAL TERRITORY ADMINISTRATION

LAND ADMINISTRATION DEPARTMENT
Hon. Minister FCT
Permanent Secretary
Director Land Administration
MISC 51540
APPLICATION FOR CONSENT TO ASSIGN

Please, at page 87 is an application from Alhaji Abubakar Mohammed, holder of

Certificate of Occupancy No.18cfw-df5cz-6787r-d340u-20 with file No. Misc 51540
Covering Plot No.60 Cadastral Zone B09 Kado District, Abuja, seeking Honourable
Ministers consent to assign the unexhausted interest in the property in favour of
Eighteenth Engineering Co. International Ltd.
2 The subject property had earlier exchange hands between the title holder, Dalice
Property Development Company Limited and Alhaji Abubakar Mohammed by virtue of
Power of Attorney, vide page 77 and abc.
3.

Development on site Comprises an office complex under construction.

4.
Adopting the approved rates for property Valuation within the Federal Capital
Territory and a Land Value Rate of N20,000/m 2 as applicable to the area, a Capital
Value of N117,122,900.00 ( One Hundred and Seventeen Million, One
Hundred and Twenty-Two Thousand Nine Hundred Naria) only was arrival at.
5. The Hon. Minister may wish to consider and approve the application to assign plot
No.60 Cadastral Zone B09 Kado District, Abuja , in favour of Eighteenth
Engineering Co. International Ltd, subject to the payment of the following fees:a.
b.
c.
d.
e.

Capital Gain Tax

Stamp Duty
Registration Fee
Consent Fee
Processing Fee
Total Fees Payable

Mainasara G. B
Director Lands

N 5,856,145.00
N 1,756,844.00
N 1,756,844.00
N
10,000.00
N
10,000.00
N 9,389,832.00