FORM O-1
[See rule 8D]
Report of valuation of immovable property (other than agricultural lands, plantations, forests,) mines and quarries
Part I-Questionnaire
ALL QUESTIONS TO BE ANSWERED BY THE REGISTERED VALUER. IF ANY PARTICULAR QUESTION DOES NOT APPLY TO THE PROPERTY UNDER VALUATION, HE MAY INDICATE SO. IF THE SPACE PROVIDED IS NOT SUFFICIENT, DETAILS MAY BE ATTACHED ON SEPARATE SHEETS
Name of registered valuer Registration No.
General :
1. Purpose for which valuation is made
2. Date as on which valuation is made
3. Name of the owner/owners
4. If the property is under joint ownership/co-ownership,
share of each such owner. Are the shares undivided?
5. Brief description of the property
6. Location, Street, Ward No.
7. Survey/Plot No. of land
8. Is the property situated in residential/commercial/mixed area/industrial area ?
9. Classification of locality high class/middle class/poor class
10. Proximity to civic amenities, like schools, hospitals, offices, markets, cinemas, etc.
11. Means and proximity to surface communication by which the locality is served
Land:
12. Area of land supported by documentary proof, shape,
dimensions and physical features
13. Roads, streets or lanes on which the land is abutting
14. Is it freehold or leasehold land ?
15. If leasehold, the name of lessor/lessee, nature of lease, dates of commencement and termination of lease and terms of renewal of lease :
(i) Initial premium
(ii) Ground rent payable per annum
(iii) Unearned increase payable to the lessor in the event of sale or transfer
16. Is there any restrictive covenant in regard to use of land
? If so, attach a copy of the covenant
17. Are there any agreements of easements ? If so, attach copies
18. Does the land fall in an area included in any Town Planning Scheme or any Development Plan of Government or any statutory body? If so, give particulars
19. Has any contribution been made towards development or is any demand for such contribution still outstanding?
20. Has the whole or part of the land been notified for acquisition by Government or any statutory body ?
Give date of the notification
21. Attach a dimensioned site plan
Improvements :
22. Attach plans and elevations of all structures standing on the land and a lay-out plan
23. Furnish technical details of the building on a separate sheet [The Annexure to this Form may be used]
24. (i) Is the building owner-occupied/tenanted/both ?
(ii) If partly owner-occupied, specify portion and extent of area under owner-occupation
25. What is the Floor Space Index permissible and percentage actually utilised?
Rents :
26. (i) Names of tenants/lessees/licensees, etc.
(ii) Portions in their occupation
(iii) Monthly or annual rent/compensation/licence fee,
etc., paid by each
(iv) Gross amount received for the whole property
27. Are any of the occupants related to, or close business associates of, the owner ?
28. Is separate amount being recovered for the use of fixtures like fans, geysers, refrigerators, cooking ranges, built in wardrobes, etc., or for service charges ?
If so, give details
29. Give details of water and electricity charges, if any, to be borne by the owner
30. Has the tenant to bear the whole or part of the cost of repairs and maintenance ? Give particulars
31. If a lift is installed, who is to bear the cost of maintenance and operation__owner or tenant?
32. If a pump is installed, who has to bear the cost of maintenance and operation__owner or tenant ?
33. Who has to bear the cost of electricity charges for lighting of common space like entrance hall, stairs, passages, compound, etc__owner or tenant ?
34. What is the amount of property tax ? Who is to bear it? Give details with documentary proof
35. Is the building insured ? If so, give the policy No. amount for which it is insured and the annual premium
36. Is any dispute between landlord and tenant regarding rent pending in a court of law ?
37. Has any standard rent been fixed for the premises under any law relating to the control of rent?
Sales :
38. Give instances of sales of immovable property in the locality on a separate sheet, indicating the name and address of the property, registration No., sale price and area of land sold
39. Land rate adopted in this valuation
40. If sale instances are not available or not relied upon, the basis of arriving at the land rate
Cost of Construction :
41. Year of commencement of construction and year of
completion
42. What was the method of construction -- by contract/by
employing labour directly/both ?
43. For items of work done on contract, produce copies of agreements
44. For items of work done by engaging labour directly, give basic rates of materials and labour supported by documentary proof
Part II - Valuation
Here the registered valuer should discuss in detail his approach to valuation of the property and indicate how the value has been arrived at, supported by necessary calculations.
Part III - Declaration
I hereby declare that -
(a) the information furnished in Part I is true and correct to the best of my knowledge and belief :
(b) I have no direct or indirect interest in the property valued;
(c) I have personally inspected the property on
Date .
Place . Signature of registered valuer
ANNEXURE TO FORM O-1
Technical details Main building Annexe Servants' quarters Garages Pump house
1. No. of floors and height
of each floor
2. Plinth area floor-wise
(As per IS : 3861-1966)
3. Year of construction
4. Estimated future life
5. Type of constructionload
bearing walls/RCC
frame/steel frame
6. Type of foundations
7. Walls
(a) Basement and plinth
(b) Ground floor
(c) Superstructure
above ground floor
8. Partitions
9. Doors and windows
(Floor -wise).
(a) Ground floor
(b) 1st floor
(c) 2nd floor, etc.
10. Flooring (Floor-wise).
(a) Ground floor
(b) 1st floor
(c) 2nd floor, etc.
[WTR57;O-1,1]
Printed From Taxmann’s Income Tax Rules on CD Page 4 of 4
11. Finishing (Floor-wise).
(a) Ground floor
(b) 1st floor
(c) 2nd floor, etc.
12. Roofing and terracing
13. Special architectural or
decorative features, if
any
14. (i) Internal wiringsurface
or conduit
(ii) Class of fittings :
Superior/ordinary/poor
15. Sanitary installations.
(a) (i) No. of water
closets
(ii) No. of lavatory
basins
(iii) No. of urinals
(iv) No. of sinks
(v) No. of bath tubs
(vi) No. of bidets
(vii) No. of geysers
(b) Class of fittings :
Superior
coloured/superior
white/ordinary
16. Compound wall.
(i) Height and length
(ii) Type of
construction
17. No. of lifts and capacity
18. Underground Pump-
Capacity and type of
construction
19. Overhead tank :
(i) Where located
(ii) Capacity
(iii) Type of
construction
20. Pumps-No. and their
horse power
21. Roads and payings
within the compound,
approximate area and
type of paving
22. Sewage disposalwhether
connected to
public sewers. If septic
tanks provided, No. and
capacity
Signature of registered valuer
Note: Necessary modifications in this Annexure may be made to suit the property under valuation.