Every Investor Should Know About Property Valuation in Dubai

Dubai’s real estate market impresses millions of customers yearly because of its high-yielding investment rate and lower tax brackets. However, not many are successful because they underestimate or overestimate the property valuation in Dubai. A property survey can easily avoid this because it helps determine the correct worth of any land or building and avoids risky and sketchy investments. 

Land Survey in Dubai- What is Property Valuation?

Every house owner’s worst nightmare is finding out that the property they invested in was not worth it, and there is only one escape—land surveys and property valuation in Dubai. In layman’s terms, property valuation is a basic evaluation of any form of land (residential, commercial, or industrial) regarding its current market value, including checking its location, condition, and many other factors. Land surveys like this ensure transparency and are only conducted by trained professionals. Property valuation helps provide any interested client with the real-time value of the property, including its future growth, expenses to be incurred, and the basic cost of the land. 

Must Watch Property Valuation in Dubai

Dubai has always been the first choice for real estate investors because of its peaking property rates, tax-friendly policies, and hassle-free land surveys. The government itself promotes property valuation and has made it mandatory for every land surveyor to register with Dubai’s Real Estate Regulatory Agency.

To regulate the real estate market and help buyers with the land authentication process, the Dubai Land Department (DLD) has launched a portal on its official website where buyers can request a property valuation report. This is necessary for every buyer to make the best decisions at the lowest market rates. 

The Importance And Need for Property Valuation in Dubai

Property Valuation in Dubai helps the buyer make a final decision regarding land-related purchases. By evaluating the worth of a property, any customer can find their profit ratio after comparing the assets and liabilities. The customer can also compare the report to that of other sectors so that they can make an informed decision. It enables the purchaser to analyse the following:

• Mortgages And Loans: 

The report helps customers analyse whether the property matches the credit amount required to obtain a loan. It also allows the buyer to check the ratio between property value and the risk taken, i.e., the Loan-to-Value ratio. Such land surveys can also help interested clients understand the marketability of the land for future purposes. 

• Escaping from Legal Disputes: 

Property Valuation reports are a solid foundation for legal troubles and monetary negotiations. Since this report is unbiased, it can serve as evidence in true insurance claims post-purchase and help solve any sale disagreements, pre- or post-purchase. 

• Mediation Point to Set The Property Price: 

Because of the land survey, any buyer can negotiate with the seller with much clarity and information on the true valuation of the land. It also helps mediate any issues regarding construction or infrastructure between both parties. 

• Insuring Purposes: 

Property Valuation in Dubai is a sure-shot way of ensuring that no client overpays or underpays its insurance premium. This report will help determine the correct replacement value of the building and its raw materials. 

The Process of Applying for a Property Valuation in Dubai

The Dubai Land Department ensures that every owner gets a transparent report regarding the true property valuation and has a page on its website. Any interested client can register on the page and obtain a real estate valuation application after paying a nominal fee. The DLD-registered surveyors will then visit the property and analyse the land before making the final report. 

• Documents Required for Obtaining A Property Valuation in Dubai:

Here are the main documents required to ask for a Property Valuation from the Dubai Land Department and other third-party sources:

• • The Real estate evaluation application form
  • A copy of the municipality map of the land/ building
  • UAE ID or a copy of the owner’s passport

Different kinds of properties require different documents to be evaluated properly. These are:

• For Vacant lands that will be used to make a real estate project

• • • A purchase and sale contract
    • A no-objection letter from the bank or developer

• For a building/ residential villa:

• • • The Ejari tenancy contracts 
    • The official list of the number of villas/ flats
    • In the last three years, expenses
    • Area of construction
    • The official list of the number of villas/ flats

• For a hotel building

• • • The area of construction
    • A detailed statement of the net profit and expenses (for the last three years) from  an accredited accounting office
    •  Hotel management contract
    • Tax letter from the municipality
    • Number of halls, restaurants, and facilities
    • The value of renting rooms

• Process Made Easy With Five Steps

The entire land survey process can take up to 3 days or more. Here are easy steps you need to take to receive a property valuation report in Dubai: 

1. 1. Complete the real estate valuation application on the DLD’s official website or at the DLD office and pay the fees according to your land/ structure type.
   2. Office officials will review and check all the submitted documents, after which the DLD employees will contact the applicant to book an on-site appointment. 
   3. The applicant can choose any real estate land surveyor approved by DLD to conduct the inspection. 
   4. The RERA-registered company arrives on site and inspects the land, making charts and data based on the information. 
   5. The applicant finally receives their property valuation report to make a more informed decision.

• Service Fees for Each Type of Land/ Property

Different kinds of properties and lands cost different amounts of money, which can be paid via cash or credit on the official website of the Dubai Land Department.

• • Surveying common areas of land- AED 5,000
  • Surveying common parts (Component Plan) value- AED 5,000
  • Surveying a building- AED 3,000
  • Surveying an island- AED 3,000
  • Surveying a business centre- AED 2,000
  • Surveying a villa / real estate unit- AED 600 
  • Field survey of the land- AED 500                       
  • Knowledge fee- AED 10

DLD Registered Land Surveyors of Dubai

Choosing the right DLD-registered organisation for land surveys in Dubai is very important. It can hugely impact our final report and might not give the expected transparent results. Nine companies can officially provide the correct property valuation report and conduct land surveys.

• Al Yamama Real Estate Survey Services

Al Yamama Real Estate Survey Services provides exceptional services in property assessments and real estate surveys. This company offers tailored solutions for different properties based on personal demands. 

• • Company Link- https://alyamama-uae.com/real-estate-survey-services/
  • Contact number- +971 52 417 4659

• Pupil/ Digital Realty FZ-LLC

Pupil uses cutting-edge technology and modern analytical tools to transform the property valuation industry in Dubai. This company also offers assessment services without any site visits. 

• • Company Link-https://www.pupil.co/
  • Contact number- 0589128944

• Emarat Survey Services

Emarat Survey Services is known for its attention to detail and accurate reports. They also help uncover the various geographical challenges in the surrounding areas and determine whether there is any defect in the property’s structure. 

• • Company Link- http://www.emaratsurvey.com/
  • Contact number- 0543073240

• Geoestate Survey Services

Geoestate Survey Services uses geospatial technologies and innovative techniques to analyse each real estate landscape correctly. The company also provides GIS Mapping services, which architects and developers prefer. 

• • Company Link- https://www.geoestate-survey.com/
  • Contact number- 0553717260

• Geoimage Survey

Geoimage Survey is one of Dubai’s best property surveyors. It uses cutting-edge aerial imaging and geospatial surveying tools. The company also operates satellite imagery and air drones for precise land mapping and area analysis. 

• • Company Link- https://www.geoimagedubai.com/
  • Contact number- 042629400

• Hectare Real Estate Survey Services

As suggested by the name, Hectare Real Estate Survey Services provides the best cadastral and boundary surveys in Dubai. They also use 3D scanners and GPS to get cost-effective land development surveys. 

• • Company link- https://www.hectareuae.com/en/
  • Contact number- 0565884404

• Kamatier Surveying Engineering Services

Kamatier Surveying Engineering Services uses laser scans and drones to make an expert survey report, including construction support and engineering consultation. The company aims to combine traditional and modern surveying methods to provide the best results. 

• • Mail ID- [email protected]
  • Contact number- 042501433 

• Petra Point

Petra Point uses GIS systems, geodetic engineering, and geopolitical techniques to meet every applicant’s needs. The company often takes over urban development projects and helps them inspect the needed infrastructure. 

• • Company link- https://www.petrapoint.com/
  • Contact number- +971 (5) 45001461

• PRD Real Estate Survey Services

PRD Real Estate Survey Services does everything for the client- including property boundary surveys, construction site surveys, and topographical mapping. Using GIS mapping tools, the organisation often helps government entities and investors. 

• • Company link- https://www.prdsurvey.com/
  • Contact number- 043213805

Conclusion 

Property Valuation is a must in Dubai, and every party involved in a land-related transaction must hire a certified land surveyor. The report provides clarity for buyers to make informed decisions, gives them negotiation power, and saves them from legal disputes. For a seller, it gives them the upper hand to sell the property quicker and prevent tax risks. The report helps provide the property’s current market value based on many unseen factors and gives a market forecast for the area. 

Similar Suggestion For You:

Frequently Asked Questions (FAQ’s)