Towards the valuation of unregistered land

2018

In many developing countries, only 30 per cent of land rights are registered. This publication aims to support developing countries that have unregistered lands to be able to value these lands. It is intended for policy makers, valuation practitioners, other land professionals and various stakeholders involved in the valuation of unregistered lands. It highlights the need to address the challenges related to valuing unregistered lands. This publication provides key principles and policy guidance for people to progressively undertake valuations of unregistered lands. It is intended to assist in the achievement of professional level valuations of unregistered lands and enable users of this guide to discern when this has been achieved. Lessons learnt and solutions should be documented leading to detailed manuals on how to better value unregistered land in the future and thereby significantly contribute to sustainable development objectives. The guide serves to strengthen the implementa...

Proceedings of conference , 2024

A robust land and property valuation system underpins land and property use optimization and facilitates disaster risk management. Land valuation and taxation are key tools for disaster management. This includes valuation to support estimates of damage and loss, effective decisions on resettlement and compensation, and insurance purposes. The study aims to present a comprehensive situational analysis of Nepal's land and property valuation. It delves deep into the challenges the system faces, examining how these challenges hinder the government's ability for valuation. The desk study followed by a literature and case study has been carried out in Nepal. The study reveals that Nepal's real estate market suffers from a notable lack of transparency, which affects valuation. The issue primarily stems from the fact that transaction sale prices remain undisclosed to the public albeit disclosed in deed documents and there is a significant shortage of true property transaction data. The country's cadastral and land registry records have relatively good coverage and are readily accessible in digital format, presenting a valuable opportunity to leverage this digital data for the establishment of a modern and current land valuation system. However, the cadastral and land registry data are not fully harmonized, there is a lack of a common identity of the parcel, which is unique in both databases, which is the basic requirement to communicate between two systems with different databases, and the information systems are not linked. Nepal's current land and property valuation infrastructure is institutionally fragmented and lacks robustness. Various laws assign distinct responsibilities to different institutions for conducting valuation processes, with minimal inter-agency collaboration. Under the current 1977 legislation, a committee determines the values of affected lands and properties for acquisition and compensation through a minimum valuation approach and ad-hoc determination of land prices but typically falls significantly below actual market values. Through inclusive and participatory consultations, it is necessary to revise the 1977 Land Acquisition Act comprehensively to address the challenges related to valuation and compensation to adopt a market-based land valuation approach in the determination of the appropriate and just compensation.

This paper explores how, with only a small amount of investment, the development and implementation of internationally agreed and recognised measurement standards will support an improved market efficiency, providing a wide range of beneficial tools to decision makers -from benchmarking pricing of developments to the identification and valuation of ownership collateral for the poorest in our societies to an increased fiscal/tax raising potential from the establishment of a formalised land and property market (fiscal cadastre).

SUMMARY Land surveyors are more used to deal with wealth than with poverty. In a world, which is rapidly urbanising with urban poor representing about 50% in developing countries, new models of establishing tenure security are called for. The paper presents a diversified approach to land registration based on some key topics: - From illegality to formal tenure; - From government to governance; - Urban segregation and urban upgrading; - Management of public land and public space; - Definition of administrative and community boundaries; - Local land administration and basic information at community level. While the paper argues for more differentiated approaches to land tenure regularisation, some common denominators of actions underpinning poverty alleviation strategies, are also discussed, e.g,: - Decentralisation and deregulation; - Safegarding and upgrading public space; - Settlement of administrative and community boundaries; - Registering and managing public land and common land...

FIG Working Week, 2005

The World Bank Research Observer, 2009

Land Use Policy, 1998

There is convincing evidence from around the world that land registration has led to better access to formal credit, higher land values, higher investments in land, and higher output/income. However, there are prerequisites for land registration to be economically viable, and social aspects which need to be considered when designing a land registration system. Further studies are warranted on some emerging issues.

IRJET, 2021

Valuation is process of estimating value of the property being valued. The circumstances of the case and purpose that valuation is needed, at the given time, place and market condition can be different. The objective of this particular study is to spot the Methodologies for arriving at value of Agriculture land and guidelines to follow the calculation for land which is situated in semi urban and rural area of India. The study helps farmers to understand the particular condition of land and also the future scope of the land for Non Agricultural use. The valuation of Agricultural Land which is in the vicinity of growing city is required because it helps to plan the future growth of the city. This project examines the factors affecting the value and price of Agricultural Land which is near to the development of localities. It highlights the problems relevant to Agricultural Land value in an exceedingly market situation of competing use options.

Springer Nature, 2019

This book discusses development and land acquisitions in India and analyzes a conceptual framework based on “paradox of values” and “plural value of land.” The research links the issue of valuation to its roots in classic economic theory and to its individual perception. The project offers an insightful perspective on current challenges of urbanization and development in the Global South, where land use regimes are in a highly dynamic transition to allow for urban amenities, housing and industrial land. The author concludes with a derived scheme or framework that addresses various potentials to better address values of land during land acquisition. It is an ideal book for anyone interested in land markets, land appraisal and land economics and land acquisition in the Global South. https://www.palgrave.com/de/book/9783030294809?fbclid=IwAR3h1bqvks3jhu2S6sYgLyVRW13053GodAe5lkSpSftYc7foI0oDZMc-WnE#aboutBook ISBN 978-3-030-29480-9

Journal of Design and Built Environment

Compulsory land purchase is a tool for the control of land uses as well as land acquisition for developmental projects by the public authorities (governments). The right of government to compulsorily acquire land for its physical project is domicile in relevant laws of different countries and the laws usually provide for compensation often in money terms to the land/property owners whose land were confiscated. This study focuses on the examination of the compensation process of some countries across the continent in a search for a global standard for uniformity. The paper adopted a content analysis of the provisions of compulsory land purchase laws of selected countries and literature review of some papers on compensation for compulsory land acquisition from different countries. It was found that there is no definition of adequate compensation in any of the public land acquisition law. Though, nomenclatures like Just, Fair, Equity and Equivalence appears in most statutes, the lack of globally acceptable definition of adequate compensation has resulted in the adoption of different basis for market value by valuers/appraisers for compensation. Some laws, like Nigeria Land Use Act of 1978, stipulate the methodology and identify what improvement qualifies for compensation. The study further revealed that Nigeria authorities always rely on government valuers' estimate of compensation amount. The study recommend for a global standardised definition of adequate compensation and methodology for assessment of compensation similar to international financial reporting standard (IFRS) and international valuation standard (RICS Red Book) for other valuations. Such standard will be expected to be incorporated in the statutes on land purchase and compensation to create a global uniformity and sustainable valuation of compensation for land acquisition.