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Proverty Valuation in Bhutanese TownsTRANSCRIPT
Thinking People. Report on Pilot Implementation of Property Valuation Methodology in Phuentsholing Municipality
SC 103840 BHU: Support to BHU Strengthening Economic Management (Contract No. 114191, 114193, 114195)
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Contents
1 EXECUTIVE SUMMARY ............................................................................................................ 5 1.1 Background ........................................................................................................................... 5 1.2 Property Valuation & Taxation in Bhutan............................................................................. 5 1.3 Proposed Property Valuation Methodology ......................................................................... 6 1.4 PVM Toolkit ........................................................................................................................... 6 1.5 Activities Undertaken ............................................................................................................ 6 1.6 Next Steps ............................................................................................................................. 6
2 INTRODUCTION ........................................................................................................................ 8 2.1 Background ........................................................................................................................... 8 2.2 Our Scope of Work ................................................................................................................ 8 2.3 Rationale for the Assignment ............................................................................................... 9
3 UNDERSTANDING PROPERTY TAX ...................................................................................... 10 3.1 Introduction ......................................................................................................................... 10 3.2 Property Tax ........................................................................................................................ 10 3.3 Advantages and Disadvantages of Property Tax .............................................................. 10 3.4 Pre-requisites for Effective Property Tax System ............................................................. 11
4 VALUATION FOR PROPERTY TAX ........................................................................................ 12 4.1 Rationale for Valuation Approach ...................................................................................... 12 4.2 Components of an Efficient Property Tax Framework ...................................................... 13 4.3 Objective Valuation Methodology in Property Tax Framework ......................................... 13
5 CURRENT PROPERTY TAX SYSTEM IN PHUENTSHOLING THROMDE .............................. 15 5.1 Issues in Property Valuation & Taxation ............................................................................ 15
6 PROPOSED PROPERTY VALUATION METHODOLOGY FOR PHUENTSHOLING ................ 17 6.1 Land Valuation .................................................................................................................... 17 6.2 Building valuation ............................................................................................................... 18 6.3 Other Building Details ......................................................................................................... 18
7 PVM TOOLKIT ......................................................................................................................... 20 7.1 Customizable masters ........................................................................................................ 20 7.2 Data History ......................................................................................................................... 21 7.3 Scenario Creation ............................................................................................................... 22 7.4 Base Scenario Generator .................................................................................................... 22 7.5 Reports ................................................................................................................................ 23
8 ACTIVITIES UNDERTAKEN FOR PILOTING PVM IN PHUENTSHOLING THROMDE ............ 24
9 NEXT STEPS ........................................................................................................................... 26
10 ANNEXURE ............................................................................................................................. 28 10.1 Matrix for Giving Weightages to Different Land Uses of PUDP 2007-17........................... 28
10.2 Official of the Following Agencies are to be Trained ........................................................ 29 10.3 Training Material ................................................................................................................. 30 10.4 Valuation Report of the 50 properties as generated by the Toolkit .................................. 43
Acronyms
ADB Asian Development Bank
BDFC Bhutan Development and Finance Corporation
BNB Bhutan National Bank
BOB Bank of Bhutan
BR Base rate
BSR Bhutan Schedule of Rates
DCD Development Control Division
DES Department of Engineering Services
DNP Department of National Properties
GIS Global Information System
LCR Land Compensation Rates
LDC Least Developed Countries
MoWHS Ministry of Works and Human Settlement
MRAS Municipal Revenue Administration System
MTEF Medium Term Expenditure Framework
NLCS National Land Commission Secretariat
NPPF National Pension and Provident Fund
OVM Objective Valuation Methodology
PAVA Property Assessment and Valuation Agency
PT Phuentsholing Thromde
PUDP Phuentsholing Urban Development Plan
PVM Property Valuation Methodology
QCG Quick Cost Guide
RCC Reinforced Concrete Cement
RGoB Royal Government of Bhutan
RICB Royal Insurance Corporation of Bhutan
SQCD Standard Quality Control Division
ULB Urban Local Body
Pilot Implementation of Property Valuation Methodology in Phuentsholing Thromde
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1 Executive Summary
Background 1.1
During the initiation phases of ADB-funded Strengthening Public Management Program, it was
recommended that the Thromdes need to adopt a value-based property tax system instead of the
existing unit-based system. Hence, as a first step Ministry of Works and Human Settlement, has
devised methodology for property valuation to be adopted by the Thromdes. Following up on the
objective of Strengthening Economic Management for local government and recommendations of
Strengthening Public Management this assignment aims to pilot the proposed methodology in
Phuentsholing. This will be followed up with requisite municipal council approvals to shift to a value-
based property tax system. As per the terms of reference, the following is the scope of work for pilot
implementation of Property Valuation Methodology in Phuentsholing Thromde:
1. Valuation of a sample of 50 building/structures based on Bhutan Schedule of Rates (BSR)
guidelines & rates and recent PVM methodology and rules and regulations, prepared by
MoWHS, in Phuentsholing Thromde.
2. Preparation of PVM based property tax model and excel based PVM toolkit
3. Capacity building and training of the selected employees of Phuentsholing Thromde on the
implementation of PVM methodology, tax model and toolkit
4. Preparation of a status report on the implementation of the PVM piloting.
Property Valuation & Taxation in Bhutan 1.2
1.2.1 Property Valuation
There are two major components of property valuation:
Land Valuation – Property Assessment and Valuation Agency was made responsible for undertaking
all assessment and valuation work pertaining to properties. The methodology adopted for land value
calculation is provided below.
Base rate for land is calculated as a weighted average of the following rates
1. Average rate (per unit area) from the primary data source, which is the true reflection of the
prevailing market rates obtained based on telephonic enquiry made, interview with buyers
and sellers, advertised prices etc.
2. Lhenzhung 2006 rates (per unit area)
3. Average of rates (per unit area) given by the Financial Institutions (Bhutan National Bank
(BNB), Bank of Bhutan (BOB), Royal Insurance Corporation of Bhutan (RICB), National
Pension and Provident Fund (NPPF) and Bhutan Development Finance Corporation (BDFC))
4. Official transacted rates as per the records of the Thromde/NLCS
Building Valuation - The Department of Engineering Services publishes the Quick Cost Guide to
building valuation based on the prevailing Bhutan Schedule of Rates used for estimation purposes.
The value of the building is calculated based on the construction cost of the building. The cost is
typically based on type of building (RCC, Load Bearing, and Temporary Structures), number of floors,
floor to ceiling height, Plinth Area, Average room size factor, types of material used for construction
etc.
1.2.2 Property tax
The current Land tax applicable in Phuentsholing is calculated based on Unit Area of the property.
The land tax rate is applied on the area of the property to arrive at the land tax. The current tax rate
which has been effective from 2011 has been notified based on minor changes to the tax rates
notified in 1992.
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The Urban house Tax is calculated on per unit basis. This is collected along with the Land Tax. The
urban house tax is calculated based on the type of structure (Buildings / Houses) and its classification
done based on the range of plinth area. The Tax is computed based on the number of units in the
buildings/ houses/ units for residential category and commercial category.
Proposed Property Valuation Methodology 1.3
Valuation of land shall be based on the Land Compensation Rates as defined by PAVA. The base
rate is defined as per land-use and zoning defined in Phuentsholing Urban Development Plan.
Additionally, weightages shall be allocated for specific factors as identified in the structural plan. The
cumulative weightages for these factors shall be multiplied with the PAVA base rate to arrive at the
current valuation rate of the land. This will be multiplied with the area of the land to arrive at the value
of the land. Valuation of building shall be done based on the construction cost of the building. The
cost would be calculated based on type of building, number of floors, floor to ceiling height, average
room factor, etc. The valuation shall also take into consideration, other building attributes like cellar,
parking, fencing, etc. Based on these parameters and rates taken from Quick Cost Guide of the
Bhutan Schedule of Rates, the cost of construction shall be determined. Other buildings such as
boundary wall, parking area, lamp posts, water tanks etc. are valued on the basis of rates prescribed
in BSR.
PVM Toolkit 1.4
An Excel based Toolkit has been developed to assist in piloting and institutionalization of the PVM in
Phuentsholing Thromde. The toolkit enables the officials update PAVA and BSR rates as and when
they are updated. The toolkit also has provision to update details of the property as and when they
change. The Thromde can also customise the toolkit to maintain additional property details as and
when they are added to the valuation methodology. Additionally the toolkit enables tracking of
changing value of each property over the years as the PAVA rates, BSR rates and property details
change. The toolkit has the provision to calculate slab rates to keep overall tax burden same as the
existing burden which enabling the Thromde to adjust the extent of cross-subsidisation. Based on the
proposed methodology, the differentiation between residential and non-residential property is being at
the time of valuation. Hence, this differentiation is not being provided in the property tax model in the
toolkit. Provision has been made in the toolkit to have scenarios for property tax based on only the
value of the property.
Activities Undertaken 1.5
The following activities have been undertaken for piloting of PVM in Phuentsholing:-
1. Selection of Properties for piloting
2. Preparation of Data Collection
Template
3. Preparation of value based property
tax model
4. Development of Toolkit
5. Data Migration
6. Training
Next Steps 1.6
With the Property Valuation Methodology in place, the following are the pertinent next steps for the
Government to strengthen the methodology and adopt a value-based property tax system.
Structure of Property Valuation and Tax- Presently there is a practice of levying differential land-tax
rates on residential and non-residential properties. This difference has been maintained at 1:2 level
for residential and commercial. However, post assessing the proposed valuation methodology we
have observed that this difference is increasing to 1:3. In that scenario, it will be not possible to
maintain similar tax structure for various types of land. Additionally, further discrimination in tax rates
might not be acceptable especially after differential treatment during valuation. To maintain the tax
burden on the taxpayers at the same level as in the previous methodology it is suggested that the
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levels of difference during valuation be reduced. To do this the toolkit will come in handy as it has
provisions for scenarios to be tested before actual implementation.
Finalization of Tax Slabs - In discussion with stakeholders, the tax slabs and rates need to be
finalised.
Requisite Amendments – Amendments to Municipal Finance Rules, Municipal Finance Policy and
Local Government Act would be required to bring in value based property tax system.
Property Survey – With an updated properties database, the Thromde shall be in a better position to
levy the tax at the fair value of the property.
MRAS - Provisions need to be made in the Municipal Revenue Administration System to enable
valuation of properties and levy of tax based on value of the property.
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2 Introduction
Background 2.1
Bhutan has achieved a robust economic growth in the last decade. Despite its numerous political and
economic difficulties, the country has shown a growth rate of nearly 9.7% in 2012. It is also interesting
to note that Bhutan is the only country in the world that measures happiness - a holistic concept
combining material well-being with an individual’s spiritual, emotional, and cultural wellbeing. Despite
all this, Bhutan is still a poverty ridden country and on the UN's list of Least Developed Countries
(LDC).
The Royal Government of Bhutan (RGoB), since its transition to parliamentary democracy in 2008,
has taken up additional measures to institutionalize the decentralized public management. As it
embarks on an agenda of development through decentralization and democratization, the RGoB
recognizes enormous challenges. The key challenges among these are:
1. Inadequate institutional and human resource capacity at local government level
2. Inadequate resource base of local governments
3. Cumbersome and complex multilevel administrative systems, and procedures that have
affected the efficiency and effectiveness of local administration
To meet these challenges, the Government is pursuing various strategies under its 11th five year plan
(2013-2018). While the strategies are well-defined, major gaps exist in terms of financing, technology,
accountability, regulation, and capacity. The Government has outlined decentralized governance as a
crosscutting development strategy, as part of this process RGoB is implementing local government
capacity development strategy and municipal finance policy. ADB is providing assistance to RGoB to
achieve this vision under the umbrella of various programs like Strengthening Public Management,
Strengthening Economic Management and Capital Market Development. Under Strengthening
Economic Management, ADB is extending support to strengthen the revenue administration at
national and local level by augmentation of own revenue through reforming the taxation methodology.
During the initiation phases of Strengthening Public Management, it was recommended that the
Thromdes need to adopt a value-based property tax system instead of the existing unit-based system.
Hence, as a first step Ministry of Works and Human Settlement, has devised methodology for
property valuation to be adopted by the Thromdes. Following up on the objective of Strengthening
Economic Management for local government and recommendations of Strengthening Public
Management this assignment aims to pilot the proposed methodology in Phuentsholing. This will be
followed up with requisite municipal council approvals to shift to a value-based property tax system.
Our Scope of Work 2.2
As per the terms of reference, the following is the scope of work for pilot implementation of Property
Valuation Methodology in Phuentsholing Thromde:
1. Valuation of a sample of 50 building/structures based on Bhutan Schedule of Rates (BSR)
guidelines & rates and recent PVM methodology and rules and regulations, prepared by
MoWHS, in Phuentsholing Thromde.
2. Preparation of PVM based property tax model and excel based PVM toolkit
3. Capacity building and training of the selected employees of Phuentsholing Thromde on the
implementation of PVM methodology, tax model and toolkit
4. Preparation of a status report on the implementation of the PVM piloting.
Pilot Implementation of Property Valuation Methodology in Phuentsholing Thromde
SC 103840 BHU: Support to BHU Strengthening Economic Management (Contract No. 114191, 114193, 114195)
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Rationale for the Assignment 2.3
Tax on property is the primary source of revenue for most of the local governments. Local
governments across the world devise
ways to unlock the true potential of
this revenue source. As depicted in
Exhibit 1, tax on property contributed
to about 16 per cent of total own
income of Phuentsholing Thromde.
With about 2275 identified properties
within Phuentsholing, there is a
potential for an augmentation of
income from properties. However,
with the current system of unit based
property tax system, the Thromde is
not in a position to tap this potential.
Phuentsholing being the commercial
capital of Bhutan has a vibrant
property market which is seeing an
upswing with a number of new
properties coming up. However, with the tax rates being unchanged since 1992 there is not much
increase in property tax receipts even though the property value has increased manifold.
Hence, it is pertinent for Phuentsholing to move to a value based property tax system to unlock this
revenue potential. In the absence of data on value of properties and in-house empirical methodology
to compute the same, the Thromde along with MoWHS agreed to adopt property valuation
methodology based on PAVA Compensation Rates and Bhutan Schedule of Rates.
This assignment aims to institutionalise the adoption of property valuation methodology through
implementation of an Excel based toolkit and pilot the same for 50 properties to pave the way for a
value based property tax system.
Property transfer tax
20%
Land Lease Rent
18%
Land Tax 16%
Solid Waste 15%
Water & sanitation
17%
Vehicle parking fee collection
7%
Auction Fees 2%
Others 5%
Exhibit 1: Components of total own revenue of Phuentsholing
Thromde (2011-12)
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3 Understanding Property Tax
Introduction 3.1
A Property Tax is levied by designated authority on the owner’s property. There are three types of
property: parcel of land, buildings and moveable personal objects. Under a property tax system, the
designated authority performs an assessment of the taxable value of each property, and tax is levied
in proportion to that value.
Property Tax 3.2
Property is defined as the parcel of land and any permanent structures erected on it. Property tax is
restricted to annual taxes and excludes one-off taxes on transfers, on realised capital gains or
betterment, or on annual wealth taxes.
Property tax is generally levied as a percentage of the assessment value of any property. The base
for this value assessment and the methodology differs from jurisdiction to jurisdiction. To calculate the
property tax, the authority will multiply the assessed value of the property by the applicable tax rate.
Property tax, in most cases, is levied by the local governments and is a primary source of revenue at
the local administration level as there is no other tax which can be geographically levied. As a primary
source of revenue, property tax plays an important role in decentralisation and the autonomy of local
governments. The duties of local governments are almost invariably such that it is impossible to
discharge them without central government grants which detract to a greater or lesser extent from
their independence. Increasing independent powers of raising revenues through property taxes thus
becomes important.
Advantages and Disadvantages of Property Tax 3.3
In addition to role in decentralisation of government, property tax has other advantages. Owing to the
high elasticity of property tax it is possible to be introduced and maintained in almost any
circumstances. Administration of property tax is cost effective compared to other taxes. It is possible
to have a cost to yield ratio of less than two per cent. It can be designed to be transparent and is
difficult to avoid. Compliance rates of 95 per cent are achievable through effective administration. In
general there is a direct relationship of assessed value to the taxpayer’s ability to pay. If designed
correctly the tax can also be marginally progressive. The revenue is predictable and elastic and is
very well suited as a source of locally generated revenue for local governments.
Some of the advantages also are the disadvantages. The transparent nature of property tax magnifies
any inconsistencies in public perception. Geographical nature of the tax exposes it to public scrutiny.
These inconsistencies can be both those of assessment and those of ability to pay. In a similar way
the difficulty of avoiding or evading property tax makes it unpopular.
Building buoyancy into property tax is also a difficult task. Buoyancy is a function of two mechanisms.
The first of these is the revaluation of properties at regular intervals. The second is the increase in the
rate of tax to produce the needed revenue. Either of the mechanisms could provide buoyancy. It is
technically possible to increase tax rates on an out-of-date valuation. Nonetheless there is always
resistance to revaluations. Both of these are highly political, hence extremely difficult to implement.
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Pre-requisites for Effective Property Tax System 3.4
There are a number of pre-requisites for a Government to introduce or reform property tax system
and have an effective administration in place. Few of these are outlined hereunder:
Political will: Levy of any tax requires political determination and public acceptance. The transparent
nature of property tax makes furtive introduction impossible. Hence, political determination is the most
important factor.
Administrative feasibility: Along with political will and public acceptance, there is administrative
inertia in introduction of property tax. Requirement of latest property data and frequent updates pose
an administrative roadblock. Once it has been surmounted, property tax is one of the easiest taxes to
administer.
Scope for increased yields: In most countries there is still immense potential in property tax to yield
more revenue. Owing to lack of political will, property taxes have not been revised for many years.
With an effective administration, there is potential for increased revenue flow from property tax.
Significance: While property tax is not significant as a source of revenue it is important in political
terms. As the foundation of local government autonomy, and as a means of financing some single
function authorities, there is sound justification for the introduction of the tax.
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4 Valuation for Property Tax Although the administration of property tax is a complex process in its entirety, there is no single
element that cannot be explained in simple terms. Policy makers and taxpayers are entitled to
understand property tax issues. In property tax the most contentious problems of valuation arise when
there is no sales evidence of that class of property. Valuations for property tax are defined by
legislation of the country which identifies what must be taken into account in such valuations.
Valuation standards define the matters to be taken into account in valuation practice primarily when
dealing with valuations for private sector activities such as mortgages, investment and accounting.
Such standards are increasingly international in character reflecting the growing awareness of the
strong links between valuation standards and financial markets, and globalization.
Value is a subjective term and the value of a property may differ from person to person. Value of a
property is derived from its various utilities. Hence it is appropriate to arrive at the fair value of any
property based on pre-determined influencing factors. The market value of any property is best
determined by the parties involved in such a transaction. For the purpose of tax computation, it is best
to put in place a framework to objectify the value of any property.
Rationale for Valuation Approach 4.1
There is a debate on the right approach of valuation for the purpose of property tax. With the
subjectivity of both the Lease Value and Capital Value approaches, there would always be a debate
on the fair value of the property computed by either of the approaches. It is political and administrative
feasibility, more than economic arguments that tend to be the deciding factor for choosing one
approach over the other. In places where rented properties are a common feature, it is easy to
procure information on rental values and easily accessible to taxing authority. In such a scenario,
using Annual Lease Value approach to assess properties for taxation is justified and the logical
approach.
In places where owner occupancy is more prevalent and where there is an active real estate market,
using the Capital Value approach is justified. This is subject to the condition that transaction
information is easily accessible to the taxing authority. In countries where house ownership is still low
and most families stay in rented accommodations, the Annual Lease Value is the most justified and
prevalent approach for assessment of properties for tax purposes. Same is true for most of the
commercial establishments in a country.
An Objective Valuation Methodology (OVM) ensures that the framework used for taxation of property
is fair in terms of incidence of tax and transparent in terms of assessment and application of the
same. It also ensures ease of implementation. An OVM would also enable self-assessment of taxes.
Property Tax Practice - India
Property tax or 'house tax' is a local tax on buildings, along with demarcated land, and imposed on
owners. The tax power is vested in the states and it is delegated by law to the local bodies,
specifying the valuation method, rate band, and collection procedures. The tax base is the annual
rateable value (ARV). Owner-occupied and other properties not producing rent are assessed on
cost and then converted into ARV by applying a percentage of cost. Vacant land is generally
exempted. Central government properties are exempted. Properties of foreign missions also enjoy
tax exemption without an insistence for reciprocity. The tax is usually accompanied by a number
of service taxes, e.g., water tax, drainage tax, conservancy (sanitation) tax, lighting tax, all using
the same tax base. The rate structure is flat on rural properties, but in the urban areas it is mildly
progressive with about 80% of assessments falling in the first two slabs.
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Components of an Efficient Property Tax Framework 4.2
OVM as a principle should run throughout the property tax framework for it to be efficient and fair. All
components of property tax framework are illustrated in Exhibit 2.
Exhibit 2: Property Tax Framework
Objective Valuation Methodology in Property Tax Framework 4.3
4.3.1 Basis of Taxation
To reduce the subjectivity in valuation of property for the purpose of taxation, the basis for taxation
needs to be selected according to the prevalent property ownership and usage practices. In
developing economies house ownership is a rare phenomenon and most of the families tend to stay
in rented accommodation and similarly, most of the commercial activities are conducted from leased
establishments. Hence Rental Value is adopted as the basis of taxation in most of the developing
countries.
4.3.2 Rate Structure
The property tax rate structure should be viewed as fair and equitable. While some tax authorities
may plan on increasing the tax rate to increase revenue, it may be viewed as unjust and result in tax
evasion. Periodic revision of the basis of taxation is a more appropriate and accepted norm to
increase property tax revenue. Such a revision, if based on increased provision of services would be
generally acceptable. Generally, differential tax rates are applied to different properties. Such a
differential needs to be clearly described based on objective terms leaving little subjectivity for the
field valuation. An objective rate structure has the following assessment factors:
1. Scale: Primarily there are two kinds of property scales in use. In the first type of scale system, a
progressively sliding scale is used. This provides a sense of fairness as the properties having
higher valuation would have to pay more tax due to higher rate applied on larger value. This is
similar to the income tax slabs being followed in most countries including India, which are
progressive in nature. In the second system, a more simplified method is adopted, wherein a flat
rate for all properties is applied.
Depending on the
administrative setup and
common property features,
Annual Rent or Capital
Value should be taken as
basis of taxation.
Basis of Taxation Rate structure to be used to assess tax on property value should be reasonable, equitable and fair to all the involved stakeholders.
Rate Structure The Valuation method adopted should be transparent, self-assessable formula, least discretion on the field and unit area method.
Property Valuation
Systems and processes should be in place for effective monitoring and collection. This to be supported with tools like IT, GIS mapping, bank based collection systems etc.
Tax Administration A strong citizen interface system based on extensive stakeholder consultations, awareness programs and credible grievance redressal system should be in place.
Citizen Interface
PROPERTY TAX
FRAMEWORK
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2. Usage: There is a standard differential of property based on its actual usage. Difference is made
in terms of residential, commercial, institutional, industrial, religious etc. A further differentiation
may be done based on owner occupied and rented properties.
3. Exemptions: A number of countries provide exemption from property tax to Government
buildings, places of worship, charitable institutions etc. based on tax laws applicable for that state
or country. Since such exemptions may be used for tax evasion purposes, an objective
description for such properties needs to be provided to leave little ambiguity in the field. This
needs to be supported with a robust monitoring system.
4.3.3 Property Valuation
Valuation system to be adopted for property tax should be based on clearly enunciated objective
parameters, be formula based to enable self-assessment and be easily implementable both by the
citizens and authority alike. Usage of an objective system for valuation leaves little scope for
subjectivity and discretion at field level hence is viewed as being fair and equitable. It would also bring
in transparency and acceptance of the taxes by the citizens. Normally per unit area rate for various
types of structures is provided by the ULBs. The unit area rate may be for Capital value or the Annual
Rental value depending on the methodology adopted by the ULB. This rate is applied to plinth/ carpet
area of the building, with deductions for maintenance expenditure or depreciation. Additional weights
are provided for use of building, access to main roads, etc. A case study is provided in the box below
detailing the parameters used for valuation adopted in Hyderabad, India.
4.3.4 Tax administration
Adoption of OVM for property tax would also enable the tax authority to improve the tax administration
system and plug loopholes. An OVM based property tax framework would leave little scope for tax
evasion. Adoption of OVM has to be preceded by collection of real data from the assessment region
to enable a fair and equitable tax framework. These include complete mapping of properties, unique
identification of each property, frequent update of data pertaining to utilization, type of construction,
construction deviation, rent etc. Various tools are at the disposal of the tax authority for added
efficiency in the system which includes GIS mapping of properties, computerization, system of
penalties and incentives, online/ bank based system for payment of taxes, online grievance redressal
system, periodic grievance tribunals, etc.
4.3.5 Citizen Interface
A robust property tax framework is based on citizen trust and transparency. Hence it is pertinent that
any reform to the framework is preceded with extensive stakeholder consultations and awareness
programs. A consensus building exercise needs to be taken up before implementing any reform in the
tax framework. This would ensure quick adoption and implementation of the new framework. It is
necessary to educate the stakeholders of all the parameters, objectivity and simplicity of the OVM
based tax framework. This when supported with a robust citizen interface mechanism including real
time tax dues data and grievance redressal system would tie all the loose ends and pave way for low
tax evasion and increase incidences of timely payment of property tax.
Property Tax Practice - Australia
Australia has property taxes known as property or land rates. Land rates and frequency of
payment are determined by local councils. Each council has land valuers who value the land's
worth. The land's worth is the value of the land only; it does not include existing dwellings on the
property. The assessed value of the land determines the total charges of rates. Rates can range
from $100 per quarter to $1,000 per quarter depending on the location and value of the land.
Quarterly payments are common, but frequency varies by locality.
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5 Current Property Tax System in
Phuentsholing Thromde This section describes the methodology followed by the Phuentsholing Thromde for property tax
calculation.
Land Tax Calculation:
The current Land tax applicable in Phuentsholing is calculated based on Unit Area of the property.
The land tax rate is applied on the area of the property to arrive at the land tax. The current tax rate
which has been effective from 2011 has been notified based on minor changes to the tax rates
notified in 1992. The complete land in Phuentsholing has been divided into five precincts as follows:
URBAN VILLAGE
URBAN CORE AND NEIGHBOURHOOD NODE
INSTITUTIONAL
HERITAGE
SPECIAL ECONOMIC ZONE
Each of these precincts is further classified into sub-precincts and as commercial and residential area.
Urban House Tax calculation:
The Urban house Tax is calculated on per unit basis. This is collected along with the Land Tax. The
urban house tax is calculated based on the type of structure (Buildings / Houses) and its classification
done based on the range of plinth area. The Tax is computed based on the number of units in the
buildings/ houses/ units for residential category and commercial category. For commercial buildings,
a unit is defined as either a shop or dwelling unit where one shop or office or warehouse occupies
larger spaces, unit calculated on a carpet area of 771 sq.ft. per unit and is applicable only for
commercial unit like shops, warehouses or offices. The tax rates for the Urban House tax have been
prevalent since 1993. While there was a revision of tax rates in 2011, tax rates for highest slab has
not been changed. The tax rate is not calculated based on the actual plinth area of the building rather
on the per unit basis which is classified based on a range of plinth area. For example, a class II
apartment includes all buildings with plinth area between 875 sqft to 1259 sq.ft. and is considered one
unit. Hence all apartments in this range are charged the same tax irrespective of the plinth area. Also
rates have been fixed in 1992 and have not been revised since.
Issues in Property Valuation & Taxation 5.1
The following section details out the issues in property taxation currently being followed by the
Phuentsholing Thromde
1. Basis of property valuation: The current methodology followed by the Phuentsholing
Thromde is not based on the actual value of the property. The revenue section does not use
the PAVA rates for calculation of land taxes. It is based on the area of the property classified
under five land precincts. The basis for the tax rates for the current land types is not well
defined. But it can be said that the property valuation does not follow land rates set by the
PAVA. It also does not take into consideration the Phuentsholing Urban Plan based zoning
which classifies the land into 23 zones based on land use which is more exhaustive. Similarly,
the building value being used to determine the urban house tax is not based on the actual
value of the building. The valuation used by DES and also Development Control Division
(DCD) of the Phuentsholing Thromde is not followed while taxation.
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2. Rate Structure: The rate structure currently being used has been in use since 1992. The
land tax has been revised in 2011, but the highest slab rate still remains unchanged. The
Urban house tax is still based on the 1992 rates, basis for which is currently not available.
3. Factors considered for PAVA land Valuation: The present structure of PAVA land
valuation in Bhutan is somewhat objective but is away from being perceived as fair and
equitable. There is a considerable amount of difference in the level of urban services being
provided within the same city. This difference is accentuated by the terrain of Bhutan. Hence,
it is pertinent to ensure that the valuation framework takes into account all the differentiating
factors to derive the true value of the land. Present valuation framework differential based on
utility of the building, distance from urban core and size of the land parcel. Hence, there
arises a need for a more inclusive and comprehensive objective framework.
4. Factors considered for Building Valuation: The Thromdes currently do not use any
valuation of buildings for calculation of property tax. The DES building valuation methodology
may be adopted for taxation purpose to start with.
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6 Proposed Property Valuation
Methodology for Phuentsholing As a first step for moving towards a tax system based on property value, Phuentsholing is undertaking
an exercise to value the properties within the administrative area of the Thromde. The property
valuation methodology has been designed by MoWHS which suggests valuation of land based on
PAVA methodology and valuation of building based on Bhutan Schedule of Rates. Each of these
methodologies are outlined here under.
Land Valuation 6.1
Valuation of land shall be based on the Land Compensation Rates as defined by PAVA. The base
rate is defined as per land-use and zoning defined in Phuentsholing Urban Development Plan.
Additionally, weightages shall be allocated for specific factors as identified in the structural plan.
These weightages for Phuentsholing are provided in Annexure 10.1. The cumulative weightages for
these factors shall be multiplied with the PAVA base rate to arrive at the current valuation rate of the
land. This will be multiplied with the area of the land to arrive at the value of the land. This is
illustrated hereunder:
The factors currently used from structural plan for arriving at the average weightage are:
Land use as per local structure plan
Maximum building height allowed in the area
Maximum ground cover allowed for the building in the area
Accessibility in terms of access to roads including primary, secondary and tertiary roads.
How PAVA arrives at the base rates is not within the purview of the Thromde; however it is pertinent
to have an understanding of the methodology to enable the Thromde to move to its own valuation
methodology in the future. PAVA currently utilizes information from banks, insurance companies,
other financial institutions, realtors, primary surveys and transaction information from the Thromde.
PAVA is mandated to revise the base rates every three years. The methodology is illustrated
hereunder.
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( ) ( ) ( ) ( )
Where:
= Previous Base Rate
F = Value as per banks, financial institutions and insurance companies
R = Value as per official records with Thromde/NLCS
P = Transaction value as per primary survey of buyers/sellers
Building valuation 6.2
Valuation of building shall be done based on the construction cost of the building. The cost would be
calculated based on type of building, number of floors, floor to ceiling height, plinth area, average
room factor, material of construction etc. The valuation shall also take into consideration, other
building attributes like cellar, parking, fencing, etc. Based on these parameters and rates taken from
Quick Cost Guide of the Bhutan Schedule of Rates, the cost of construction shall be determined. The
Quick Cost Guide (QCG) has been prepared in 2005 which is being updated by the Standard Quality
Control Division (SQCD) under the Ministry of Works and Human Settlement.
The QCG defines average rate of construction per unit volume for different types of construction. The
QCG also defines Room Size Factor for range of average room sizes. Based on the average size of
rooms in the building the Room Size Factor is determined which is multiplied with the base rate as per
type of construction. This is then multiplied with the total volume of the building to arrive at the value
of the building. This is illustrated hereunder.
Other Building Details 6.3
Valuation of other building details such as parking, boundary wall, water tanks, area lighting, shed etc.
shall be the estimated construction value based on Bhutan Schedule of Rates (2012). Based on
actual survey of properties the other building details shall be captured. This would include the
specifications and volume/quantity of the construction. The construction price would then be
estimated to arrive at the value of these.
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Illustration of the Property Valuation based on the new PVM
Location – Sub Precinct “UV-1” under the
Precinct “Urban Village”
Land Area = 2400 sqft;
Land Use – Commercial
Type of Building – RCC frame building Age of Building – 2 Years, Life of Building – 75
Years
Number of floors – 4, Total plinth Area – 10000 sqft
Number of rooms – 10 Floor to Ceiling height – 2.40 m
Road Connection – Yes Soil Stability – Yes Water Availability - Yes
Land Valuation:
The base rate for land is calculated as follows:
BR = PAVA rate for 2009 = 21.89 Nu/sq.ft
The weights for the Land in Sub Precinct “UV-1” under the Precinct “Urban Village” are as follows:
No Type Factor for the
locality
Weights Total
Weight
Average
Weightage
1 Predominant uses allowed Commercial 2.0
4.8 1.6 2 Maximum Building Height 2 to 6 floors 2.0
3 Maximum Ground Cover
allowed
10% to 50% 0.8
The deduction weightages applicable for this plot for factors like Road Connection, Soil Stability and
Water Availability are as follows:-
No Type Maximum Deduction
Allowed
Deductions
Applicable
Total
Deductions
Applicable
1 Road Connection 5% 0.0
0.0 2 Soil Stability 10% 0.0
3 Water Availability 5% 0.0
Final Land Value for the location = Base Rate x Average Weightage x (1 – total deductions
applicable) = 21.89 x 1.6 x (1-0)= Nu 35.024 per sqft
Land value for the plot = Area x Land value for the location = 2400 x 35.024 = Nu 84, 057.60
Building valuation:
1. Total Area of building = 10000 sqft = 929.03 sqm
2. Average room size = (Total area / No. of rooms) x Floor to ceiling height
= (929.03 / 10) x 2.4 = 223.032
3. Cube root of average room size (2) = 6.06
4. Average room size factor as per DES quick cost guide = 0.903
5. Cost Index per sqm for office block 4-storey office block in Phuentsholing = 1696 per cum
6. Appreciation factor (from 2005 to 2014) = 1.84795 (i.e 84.795%)
7. Depreciation Factor = 1 – (Age of building/life of building) = 1 - 2/75 = 0.97
8. Cost of building = Total Area of building x (floor to ceiling height) x Average room size factor x
applicable BSR 2005 rate x Appreciation factor x depreciation factor
= 929.03 x 2.4 x 0.903 x 1696 x 1.84795 x 0.97 = Nu 6,120,917.54
Property value:
Land value + Building value = Nu 84,057.60 + Nu 6,120,917.54 = Nu. 6,204,975.14
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7 PVM Toolkit An Excel based Toolkit has been developed to assist Phuentsholing Thromde in piloting the property
valuation methodology. The toolkit has been designed with flexibility of data structure with a master
management module.
This would enable the
Thromde to customise
the toolkit as per their
requirements. The
primary objective of the
toolkit is to enable the
Thromde to
institutionalize the
property valuation
methodology and
conduct scenario
analysis to arrive at the
optimal value-based
taxation system. The
toolkit does not have
the capacity to run as
an administration
system. The key features of the toolkit are outlined hereunder.
Customizable masters 7.1
The core of the system is the PVM methodology based on PAVA Land Compensation Rates and
Quick Cost Guide of the Bhutan Schedule of Rates. While these modules have been designed as per
the current scenario, these are customizable to reflect additional and new classifications as and when
these are updated by the respective agencies.
The structure of data for maintaining land and building information has been created as per the
current requirements of PVM. However, this also is customizable to add new details for properties as
and when the need arises. A four level data tree structure has been designed to enable this
customization. These levels are as follows:
1. Data Description – Classification of information that is being maintained.
2. Data Header – Description of group of data
3. Data Detail – The actual information
4. Data type – The data can have various types which have been provided for in the toolkit.
This is illustrated with the example in Exhibit 4.
Exhibit 3: Welcome Screen of the Toolkit
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Exhibit 4: Data Structure of Toolkit
Data History 7.2
Provision has been made in the toolkit to keep the historic values of all the attributes, be it tax rates,
slabs or details of the properties. This would enable the Thromde to see temporal effects of various
scenarios. Thromde could also assess the tax collections from specific property through various tax
structures or through its development phases. This is a powerful feature for providing the right
information for optimal decision by the Thromde. A sample of historic data maintenance of a property
is provided hereunder.
Exhibit 5: History Data Maintenance
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Scenario Creation 7.3
Provision has been made in the system to make multiple scenarios for PAVA rates, QCG rates, tax
slabs, Tax rates, property classifications etc. The tax burden on taxpayers, revenue buoyancy,
expected revenue streams etc. can be compared across scenarios. This scenario module provides
the right information to the management of the Thromde. This would assist the Thromde both in
structuring the property tax system and stakeholder consultations. The scenario creation is
showcased in Exhibit 6.
Exhibit 6: Sample of Scenario Generation
Base Scenario Generator 7.4
As recommended under TA – 7724 ADB funded Strengthening Public Management; it is pertinent to
adopt a progressive slab based tax regime to ensure that tax burden is adjusted according to the
value of the property. Since, the value of the property already takes into consideration land-use,
location, size of property, accessibility, etc. the slabs can be based on property value alone. The
recommendations are provided in Annexure 10.2. Hence to provide for these recommendations, a tax
system generator has been provisioned in the toolkit. This calculates the existing the tax burden of the
taxpayer under the unit-based property tax system and designs a slab and rate structure for the
value-based property tax where there is minimum additional tax burden on the taxpayer. This is
stored as the base scenario for the toolkit against which all other scenarios can be benchmarked.
In order to maintain the tax burden at the same level as it is in the unit-based property tax system, the
tax rate should be between 0.06% to 0.08% of value of the property. However, Phuentsholing
Thromde does not have the power to enact a change of tax rates. Any change in tax rates would have
to be approved by the Parliament. Since, it will be difficult to get a rate change frequently; it is
recommended that the slabs be designed to balance this burden. In due course of time as PAVA and
DES revise their rates, the value of properties will increase and hence to tax receipts. As the values of
properties increase, they would move to higher slabs and mandate revision of rates which can then
be adjusted as per the requirements of the Thromde. The optimal rates can be arrived only when
valuation of all properties in the Thromde is complete. This would ensure that the tax rates are neither
a burden to the taxpayer nor on the fiscal health of the Thromde. Sample of the scenario generator is
given in Exhibit 7.
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Exhibit 7: Scenario Generator
Reports 7.5
Provision has been made in the toolkit to generate report that summarizes each scenario across the
change parameters and monitor expected revenue inflow from the properties already in the database.
Profile reports of each property can be generated which shows key property attributes, valuation of
land and building and expected property tax as per the base and final scenario. The Valuation Report
for the 50 properties is provided in Annexure 10.4.
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8 Activities undertaken for Piloting
PVM in Phuentsholing Thromde The following activities have been undertaken for piloting of PVM in Phuentsholing:-
1. Selection of Properties for piloting
Based on the valuation methodology to be piloted, 50 properties have been selected. To
enable a wide piloting, it has been ensured that properties of varied land-use, across all
precincts in Phuentsholing are selected. Availability of relevant data has also been considered
while selecting these properties. The spread of the properties across precincts and land-use
types is shown in Exhibit 8.
Exhibit 8: Classification of Selected Properties
2. Preparation of Data Collection Template
Based on the proposed property valuation methodology, a data collection template has been
prepared to collect land, building and other building details of the identified properties. The
Thromde has provided the requisite data in the template. This has been done from the
existing records of the Thromde. Survey has been done to find missing data.
3. Preparation of value based property tax model
Following up on recommendations under ADB funded Strengthening Public Management to
move to a value based property tax system a suggestive tax slab rates have been defined in
section 7.3. The suggestive tax slabs have been designed to keep the burden of tax adjusted
as per value of the property. Additionally, the current tax burden on the taxpayer has been
taken into account to arrive at the tax rates. However, the optimal rates can be arrived only
when valuation of all properties in the Thromde is complete. This would ensure that the tax
rates are neither a burden to the taxpayer nor on the fiscal health of the Thromde.
4. Development of Toolkit
A customizable toolkit has been designed for Phuentsholing Thromde to enable the officials to
quickly value the properties. The toolkit enables the officials update PAVA and DES rates as
and when they are updated. The toolkit also has provision to update details of the property as
and when they change. The Thromde can also customise the toolkit to maintain additional
property details as and when they are added to the valuation methodology.
Additionally the toolkit enables tracking of changing value of each property over the years as
the PAVA rates, DES rates and property details change. This would enable the Thromde to
assess the effectiveness of the slab rates.
Urban Village
Urban Coreand
Neighbourhood Node
InstitutionalHeritage
SpecialEconomic
Zone
Spread of selected properties across Precincts
Residential
Commercial
HeritageTransit
Terminal
Industries/Non-polluting
Spread of selected properties across Land-Use types
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The toolkit has the provision to calculate slab rates to keep overall tax burden same as the
existing burden which enabling the Thromde to adjust the extent of cross-subsidisation.
Sample screenshots of the Toolkit is given in Exhibit 9.
Exhibit 9: Toolkit Screenshot
5. Data Migration
Data for the 50 selected properties has been migrated into the Toolkit and valuation done.
The valuation of all the properties has been done and saved into the Toolkit. The toolkit
recalculates the value of properties when the details of the property are updated or the rates
as defined by PAVA and DES are updated.
Valuation of Selected Properties
All the selected properties have been valued based on the migrated data. Detailed valuation
report on calculated value of each of the properties is given in Annexure 10.2.
6. Training
Official from Phuentsholing Thromde and MoWHS are being identified to undertake training to
use the toolkit to put the Property Valuation Methodology into practice. Training material for
the same is being finalized. A tentative list of agencies whose officials are to be trained is
given in Annexure 10.2. The draft of the training presentation is given in Annexure 10.3.
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9 Next Steps This report concludes our scope of work. RGoB and the Thromde need to take further action to
strengthen and institutionalize the property valuation methodology and adopt a value-based property
tax system. The following are the pertinent next steps:
Structure of Property Valuation and Tax
Presently there is a practice of levying differential land-tax rates on residential and non-residential
properties. This difference has been maintained at 1:2 levels for residential and commercial.
However, post assessing the proposed valuation methodology it has been observed that this
difference is increasing to 1:3. In that scenario, it will be not possible to maintain similar tax
structure for various types of land. Additionally, further discrimination in tax rates might not be
acceptable especially after differential treatment during valuation. To maintain the tax burden on the
taxpayers at the same level as in the previous methodology it is suggested that the levels of
difference during valuation be reduced or have no differentiation at valuation level to have
differential tax rates. To do this the toolkit will come in handy as it has provisions for scenarios to be
tested before actual implementation.
Finalization of Tax Slabs
In discussion with stakeholders, the tax slabs and rates need to be finalised. This has to be duly
substantiated with service costing. The benefits of moving to the value based property tax need to
be highlighted to the stakeholders.
Stakeholder Consultations
This is an important step for the success of the reform. Consultation with the taxpayers and their
agreement is needed for implementing value based property tax. There is a need to educate the
taxpayers of the benefits, ease and transparency of value-based tax. The actual tax burden also
needs to be quantified for solicit this agreement. These consultations would also provide critical
feedback to property classification, slab design and tariff fixation.
Requisite Amendments
The current Municipal Financial Policy, 2012 does not delineate the methodology to compute land
and urban house tax. While the move to value-based property tax was mentioned in the Draft
Municipal Finance Policy, 2009 the same has been dropped in the final version. The Municipal
Finance Rules are being drafted my MoWHS to put the Municipal Finance Policy, 2012 into
practice. It is recommended that the property valuation methodology form a part of these rules.
Additionally, the rules would also require delineating the methodology to levy property tax on the
value of the property computed based on PVM. Approval of parliament would also have to be
sought for the property tax slabs and rates. This landmark amendment would also pave the way for
other Thromdes to move to value based property tax.
Property Survey
Phuentsholing Thromde has already initiated an exercise to update the details of all the properties
with its jurisdiction. Additional land details have been updated by NLCS under the National
Cadastral Resurvey Project. This information shall also be made available to the Thromde post
processing. The Thromde shall be in a better position to levy the tax at the fair value of the property.
MRAS
When the property details are being updated into the Municipal Revenue Administration System,
provisions need to be made in the system to enable valuation of properties and levy of tax based on
value of the property.
Once the piloting of the PVM is done and value-based property tax implemented, the following maybe
taken up in the medium to long term as the taxpayers of the Thromde become more accepting to the
valuation.
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Single Property Tax
All property related taxes i.e. Land Tax, Urban House Tax, Garbage Collection and Street Lighting
Fee etc. may be clubbed together into a single tax to make monitoring, demand generation and
payment easier. This would require amendment to the Local Government Act.
Self-Assessment
The Thromde may move to valuation methodology which is objective and transparent, which would
enable the taxpayers to value their own property. Thromde may additionally levy self-assessed tax
on property owners. This would not only reduce the workload of the Thromde but also make
taxation more transparent and reduce the number of appeals.
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10 Annexure
Matrix for Giving Weightages to Different Land Uses of PUDP 2007-17 10.1
Uses allowed
Permissible
Building Height
LAND USE ZONE
R =
Pre
dom
ina
ntly r
esid
ential use
M =
All
uses in R
+ s
mall
busin
esses
C =
All
uses in R
& M
+ M
ediu
m b
usin
esses
P =
All
uses in R
+ R
ecre
atio
n
I =
S
erv
ice
ind
ustr
ies,
ware
housin
g,
go
dow
n,
sto
rage e
tc
G =
Recre
ation
al uses o
nly
U
=
Bus
&
truck
term
inals
, dry
p
ort
, air
port
,
trea
tme
nt
pla
nt,
dis
posal sites e
tc
N =
riv
er
fro
nts
, w
ate
rshe
ds e
tc
G to G
+1 (
1+
1/3
)
G+
2 t
o G
+3 (
1+
1/3
+1/3
)
Above G
+3 u
pto
G+
9 (
1+
1/3
+1/3
+1
/3)
To
tal W
eig
hti
ng
s
Avera
ge W
eig
hti
ng
s
Residential ( R )
Zone I
1
2.00 3.00 1.50
Zone III 2.00 3.00 1.50
Zone IV 1.67 2.67 1.33
Zone V 1.83 2.83 1.42
Zone VI 1.83 2.83 1.42
Zone VII 1.67 2.67 1.33
Zone VIII 1.67 2.67 1.33
Zone IX 1.67 2.67 1.33
Mixed Use (M) Zone III, IV,
VIII & IX 1.5
1.67 3.17 1.58
Commercial ( C )
Zone II
2
1.67 3.67 1.83
Zone VI 1.83 3.83 1.92
Zone VII 1.67 3.67 1.83
Public & Semipublic
(P)
Zone III
1.5
1.67 3.17 1.58
Zone IV 1.83 3.33 1.67
Zone V 1.67 3.17 1.58
Zone VII 1.67 3.17 1.58
Warehousing & Light
Industries ( I )
Zone I 1.5
1.67 3.17 1.58
Zone VI 1.67 3.17 1.58
Recreational (G) Zone I, II,
III & VIII 1.5
1.33 2.83 1.42
Utilities & Special
Reservation (U) 1.5
1.33 2.83 1.42
No Development Zone
(N) 1
1 2.00 1.00
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Official of the Following Agencies are to be Trained 10.2
S.No. Agency
1 Department of Public Accounts
2 Property Assessment and Valuation Agency
3 Department of Engineering Services
4 Phuentsholing Thromde
5 Thimphu Thromde
6 Gelephu Thromde
7 Samdrup-Jongkhar Thromde
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Training Material 10.3
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Pilot Implementation of Property Valuation Methodology in Phuentsholing Thromde
SC 103840 BHU: Support to BHU Strengthening Economic Management (Contract No. 114191, 114193, 114195)
Deloitte Touche Tohmatsu India Private Limited Page 37
Pilot Implementation of Property Valuation Methodology in Phuentsholing Thromde
SC 103840 BHU: Support to BHU Strengthening Economic Management (Contract No. 114191, 114193, 114195)
Deloitte Touche Tohmatsu India Private Limited Page 38
Pilot Implementation of Property Valuation Methodology in Phuentsholing Thromde
SC 103840 BHU: Support to BHU Strengthening Economic Management (Contract No. 114191, 114193, 114195)
Deloitte Touche Tohmatsu India Private Limited Page 39
Pilot Implementation of Property Valuation Methodology in Phuentsholing Thromde
SC 103840 BHU: Support to BHU Strengthening Economic Management (Contract No. 114191, 114193, 114195)
Deloitte Touche Tohmatsu India Private Limited Page 40
Pilot Implementation of Property Valuation Methodology in Phuentsholing Thromde
SC 103840 BHU: Support to BHU Strengthening Economic Management (Contract No. 114191, 114193, 114195)
Deloitte Touche Tohmatsu India Private Limited Page 41
Pilot Implementation of Property Valuation Methodology in Phuentsholing Thromde
SC 103840 BHU: Support to BHU Strengthening Economic Management (Contract No. 114191, 114193, 114195)
Deloitte Touche Tohmatsu India Private Limited Page 42
Pilot Implementation of Property Valuation Methodology in Phuentsholing Thromde
SC 103840 BHU: Support to BHU Strengthening Economic Management (Contract No. 114191, 114193, 114195)
Deloitte Touche Tohmatsu India Private Limited Page 43
Valuation Report of the 50 properties as generated by the Toolkit 10.4
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 1
Valuation of : 196A
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-1
Land Area (sqft) 11,283.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 908.42
Land Value (Nu.)
8,199,762.29
Building Details
Plinth area (sqft) 3,518.00
Residential Commercial
Rooms 105 -
Floors 5 -
Ceiling Height (m) 3.00 -
Age (years) 7
Life (years) 75
Building Value (Nu.)
147,074,915.20
Other Building Details
Area Lighting Lamp Post
3.00
Boundary Wall RRM
106.50
Gate RCC Gate/MS Grill
1.47
Other Sheds CGI sheds
236.36
Parking Area
Retaining Wall RRM
Water Tank Sintex
3.00
Other Building Value (Nu.)
1,768,325.37
Total Property Value (Nu.)
157,043,002.86
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 2
Valuation of : 196B
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-1
Land Area (sqft) 4,812.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 908.42
Land Value (Nu.)
3,497,053.63
Building Details
Plinth area (sqft) 2,211.00
Residential Commercial
Rooms 64
5
Floors 4
2
Ceiling Height (m) 2.85
2.85
Age (years) 5
Life (years) 75
Building Value (Nu.)
100,813,453.61
Other Building Details
Area Lighting Lamp Post
Boundary Wall RRM
50.70
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
20.40
Parking Area
Retaining Wall RRM
Water Tank Sintex
1.00
Other Building Value (Nu.)
301,277.83
Total Property Value (Nu.)
104,611,785.08
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 3
Valuation of : 306
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-1
Land Area (sqft) 5,116.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 908.42
Land Value (Nu.)
3,717,981.38
Building Details
Plinth area (sqft) 2,216.00
Residential Commercial
Rooms 56 -
Floors 4 -
Ceiling Height (m) 3.15 -
Age (years) 5
Life (years) 75
Building Value (Nu.)
80,108,931.84
Other Building Details
Area Lighting Lamp Post
Boundary Wall RRM
63.60
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
1.00
Other Building Value (Nu.)
229,626.63
Total Property Value (Nu.)
84,056,539.85
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 4
Valuation of : 277
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-1
Land Area (sqft) 4,271.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 908.42
Land Value (Nu.)
3,103,889.46
Building Details
Plinth area (sqft) 2,005.00
Residential Commercial
Rooms 56
6
Floors 4
1
Ceiling Height (m) 3.00
3.00
Age (years) 8
Life (years) 75
Building Value (Nu.)
80,338,176.26
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
127.50
Gate RCC Gate/MS Grill
1.33
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
2.00
Other Building Value (Nu.)
786,834.38
Total Property Value (Nu.)
84,228,900.10
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 5
Valuation of : 305/2
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-1
Land Area (sqft) 12,144.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 908.42
Land Value (Nu.)
8,825,481.98
Building Details
Plinth area (sqft) 6,000.00
Residential Commercial
Rooms -
12
Floors -
1
Ceiling Height (m) -
4.00
Age (years) 4
Life (years) 75
Building Value (Nu.)
53,002,306.56
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
118.50
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
2.00
Other Building Value (Nu.)
726,544.95
Total Property Value (Nu.)
62,554,333.49
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 6
Valuation of : 305/5
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-1
Land Area (sqft) 11,151.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 908.42
Land Value (Nu.)
8,103,833.14
Building Details
Plinth area (sqft) 7,115.00
Residential Commercial
Rooms 190
8
Floors 5
2
Ceiling Height (m) 3.02
3.15
Age (years) 1
Life (years) 75
Building Value (Nu.)
420,709,180.21
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
15.75
Water Tank Sintex
2.00
Other Building Value (Nu.)
264,942.25
Total Property Value (Nu.)
429,077,955.60
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 7
Valuation of : 276
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-1
Land Area (sqft) 18,464.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 908.42
Land Value (Nu.)
13,418,453.50
Building Details
Plinth area (sqft) 8,340.00
Residential Commercial
Rooms -
75
Floors -
5
Ceiling Height (m) -
3.00
Age (years) 8
Life (years) 75
Building Value (Nu.)
261,562,682.88
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
52.50
Parking Area
Retaining Wall RRM
Water Tank Sintex
2.00
Other Building Value (Nu.)
422,500.00
Total Property Value (Nu.)
275,403,636.38
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 8
Valuation of : 206
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-1
Land Area (sqft) 9,679.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 908.42
Land Value (Nu.)
7,034,077.74
Building Details
Plinth area (sqft) 4,036.00
Residential Commercial
Rooms 88
16
Floors 4
2
Ceiling Height (m) 3.00
3.00
Age (years) 1
Life (years) 75
Building Value (Nu.)
201,955,163.21
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
2.00
Other Building Value (Nu.)
160,000.00
Total Property Value (Nu.)
209,149,240.96
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 9
Valuation of : 265A
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-1
Land Area (sqft) 5,000.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 908.42
Land Value (Nu.)
3,633,680.00
Building Details
Plinth area (sqft) 2,293.00
Residential Commercial
Rooms -
5
Floors -
1
Ceiling Height (m) -
4.00
Age (years) 6
Life (years) 75
Building Value (Nu.)
19,685,131.31
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
12.00
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
4.00
Other Building Value (Nu.)
377,371.64
Total Property Value (Nu.)
23,696,182.95
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 10
Valuation of : 149B
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-1
Land Area (sqft) 3,150.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 908.42
Land Value (Nu.)
2,289,218.40
Building Details
Plinth area (sqft) 1,219.00
Residential Commercial
Rooms 21
5
Floors 3
1
Ceiling Height (m) 2.85
2.85
Age (years) 4
Life (years) 75
Building Value (Nu.)
38,445,744.34
Other Building Details
Area Lighting Lamp Post
1.00
Boundary Wall Brick
101.40
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
1.00
Other Building Value (Nu.)
590,439.21
Total Property Value (Nu.)
41,325,401.95
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 11
Valuation of : 3&7
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-2
Land Area (sqft) 162,104.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 353.09
Land Value (Nu.)
45,789,841.09
Building Details
Plinth area (sqft) 4,539.00
Residential Commercial
Rooms 112 -
Floors 4 -
Ceiling Height (m) 2.85 -
Age (years) 2
Life (years) 75
Building Value (Nu.)
154,821,223.06
Other Building Details
Area Lighting Lamp Post
4.00
Boundary Wall Stone Masonary
1,875.00
Gate RCC Gate/MS Grill
1.29
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
7.00
Other Building Value (Nu.)
4,819,779.40
Total Property Value (Nu.)
205,430,843.54
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 12
Valuation of : 336
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-2
Land Area (sqft) 5,888.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 353.09
Land Value (Nu.)
1,663,195.14
Building Details
Plinth area (sqft) 2,821.00
Residential Commercial
Rooms 90 -
Floors 5 -
Ceiling Height (m) 3.00 -
Age (years) 3
Life (years) 75
Building Value (Nu.)
124,873,257.60
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
27.00
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
3.00
Other Building Value (Nu.)
369,086.19
Total Property Value (Nu.)
126,905,538.93
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 13
Valuation of : 270B
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-2
Land Area (sqft) 11,020.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 353.09
Land Value (Nu.)
3,112,841.44
Building Details
Plinth area (sqft) 7,007.00
Residential Commercial
Rooms 200 -
Floors 6 -
Ceiling Height (m) 3.15 -
Age (years) 7
Life (years) 75
Building Value (Nu.)
361,719,156.84
Other Building Details
Area Lighting Lamp Post
2.00
Boundary Wall RRM
202.50
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
59.85
Water Tank Sintex
3.00
Other Building Value (Nu.)
1,166,483.80
Total Property Value (Nu.)
365,998,482.08
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 14
Valuation of : 308A/B
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-2
Land Area (sqft) 6,900.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 353.09
Land Value (Nu.)
1,949,056.80
Building Details
Plinth area (sqft) 3,888.00
Residential Commercial
Rooms 96
17
Floors 4
2
Ceiling Height (m) 3.15
3.15
Age (years) 5
Life (years) 75
Building Value (Nu.)
194,640,471.24
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
6.18
Gate RCC Gate/MS Grill
1.35
Other Sheds Brick
6.50
Parking Area
Retaining Wall RRM
Water Tank Sintex
3.00
Other Building Value (Nu.)
335,749.73
Total Property Value (Nu.)
196,925,277.78
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 15
Valuation of : 335
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-2
Land Area (sqft) 12,065.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 353.09
Land Value (Nu.)
3,408,024.68
Building Details
Plinth area (sqft) 4,585.00
Residential Commercial
Rooms -
46
Floors -
4
Ceiling Height (m) -
3.35
Age (years) 2
Life (years) 75
Building Value (Nu.)
143,004,826.59
Other Building Details
Area Lighting Lamp Post
16.00
Boundary Wall Brick
46.05
Gate RCC Gate/MS Grill
Other Sheds Brick
Parking Area
Retaining Wall RRM
Water Tank Sintex
3.00
Other Building Value (Nu.)
870,545.27
Total Property Value (Nu.)
147,283,396.53
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 16
Valuation of : 177
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-2
Land Area (sqft) 8,000.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 353.09
Land Value (Nu.)
2,259,776.00
Building Details
Plinth area (sqft) 4,734.00
Residential Commercial
Rooms 112 -
Floors 4 -
Ceiling Height (m) 3.15 -
Age (years) 20
Life (years) 75
Building Value (Nu.)
134,463,399.84
Other Building Details
Area Lighting Lamp Post
1.00
Boundary Wall Brick
219.00
Gate RCC Gate/MS Grill
1.38
Other Sheds Brick
Parking Area
Retaining Wall RRM
Water Tank Sintex
3.00
Other Building Value (Nu.)
1,330,499.60
Total Property Value (Nu.)
138,053,675.44
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 17
Valuation of : 129
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-2
Land Area (sqft) 4,000.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 353.09
Land Value (Nu.)
1,129,888.00
Building Details
Plinth area (sqft) 1,800.00
Residential Commercial
Rooms 85 -
Floors 6 -
Ceiling Height (m) -
Age (years) 5
Life (years) 75
Building Value (Nu.) -
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
144.00
Gate RCC Gate/MS Grill
1.48
Other Sheds CGI sheds
53.20
Parking Area
Retaining Wall RRM
Water Tank Sintex
4.00
Other Building Value (Nu.)
1,293,570.65
Total Property Value (Nu.)
2,423,458.65
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 18
Valuation of : 304(NPPF)
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-2
Land Area (sqft) 287,152.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 353.09
Land Value (Nu.)
81,112,399.74
Building Details
Plinth area (sqft) 3,863.00
Residential Commercial
Rooms 112 -
Floors 4 -
Ceiling Height (m) 2.91 -
Age (years) 4
Life (years) 75
Building Value (Nu.)
133,468,508.94
Other Building Details
Area Lighting Lamp Post
29.00
Boundary Wall Brick
2,982.00
Gate RCC Gate/MS Grill
1.43
Other Sheds CGI sheds
46.40
Parking Area
Retaining Wall RRM
Water Tank Sintex
36.00
Other Building Value (Nu.)
18,131,247.89
Total Property Value (Nu.)
232,712,156.57
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 19
Valuation of : 502(BPC)
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-2
Land Area (sqft) 253,225.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 353.09
Land Value (Nu.)
71,528,972.20
Building Details
Plinth area (sqft) 2,035.00
Residential Commercial
Rooms 65 -
Floors 5 -
Ceiling Height (m) 2.81 -
Age (years) 5
Life (years) 75
Building Value (Nu.)
82,851,953.24
Other Building Details
Area Lighting Lamp Post
8.00
Boundary Wall Stone Masonary
1,350.00
Gate RCC Gate/MS Grill
1.36
Other Sheds CGI sheds
38.50
Parking Area
Retaining Wall RRM
262.50
Water Tank Sintex
4.00
Other Building Value (Nu.)
5,465,521.03
Total Property Value (Nu.)
159,846,446.46
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 20
Valuation of : 288
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-2
Land Area (sqft) 3,875.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 353.09
Land Value (Nu.)
1,094,579.00
Building Details
Plinth area (sqft) 1,750.00
Residential Commercial
Rooms 36
5
Floors 4
2
Ceiling Height (m) 3.05
3.05
Age (years) 3
Life (years) 75
Building Value (Nu.)
86,099,186.88
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
180.00
Gate RCC Gate/MS Grill
1.31
Other Sheds CGI sheds
44.00
Parking Area
Retaining Wall RRM
Water Tank Sintex
2.00
Other Building Value (Nu.)
1,257,531.16
Total Property Value (Nu.)
88,451,297.04
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 21
Valuation of : 148A
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-2
Land Area (sqft) 7,387.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 353.09
Land Value (Nu.)
2,086,620.66
Building Details
Plinth area (sqft) 3,574.00
Residential Commercial
Rooms 145 -
Floors 7 -
Ceiling Height (m) 3.27 -
Age (years) 1
Life (years) 75
Building Value (Nu.)
245,646,089.53
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
75.00
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
4.00
Other Building Value (Nu.)
678,572.75
Total Property Value (Nu.)
248,411,282.95
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 22
Valuation of : 215C(Kabrey)
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-2
Land Area (sqft) 11,325.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 353.09
Land Value (Nu.)
3,198,995.40
Building Details
Plinth area (sqft) 1,889.00
Residential Commercial
Rooms 21 -
Floors 2 -
Ceiling Height (m) 3.15 -
Age (years) 5
Life (years) 75
Building Value (Nu.)
33,802,462.66
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
Other Building Value (Nu.) -
Total Property Value (Nu.)
37,001,458.06
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 23
Valuation of : 204(Kabrey)
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-2
Land Area (sqft) 8,712.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 353.09
Land Value (Nu.)
2,460,896.06
Building Details
Plinth area (sqft) 1,887.00
Residential Commercial
Rooms 19 -
Floors 2 -
Ceiling Height (m) 3.15 -
Age (years) 5
Life (years) 75
Building Value (Nu.)
33,425,596.41
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
Other Building Value (Nu.) -
Total Property Value (Nu.)
35,886,492.48
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 24
Valuation of : 176(P.Dhara)Bangalow
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-2
Land Area (sqft) 75,064.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 353.09
Land Value (Nu.)
21,203,478.21
Building Details
Plinth area (sqft) 1,304.00
Residential Commercial
Rooms 21 -
Floors 3 -
Ceiling Height (m) 3.00 -
Age (years) 1
Life (years) 75
Building Value (Nu.)
35,239,490.04
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
Other Building Value (Nu.) -
Total Property Value (Nu.)
56,442,968.24
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 25
Valuation of : 172B/170A(Damdhara)
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-2
Land Area (sqft) 11,324.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 353.09
Land Value (Nu.)
3,198,712.93
Building Details
Plinth area (sqft) 421.00
Residential Commercial
Rooms 118 -
Floors 4 -
Ceiling Height (m) 3.00 -
Age (years) 3
Life (years) 75
Building Value (Nu.) -
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
Other Building Value (Nu.) -
Total Property Value (Nu.)
3,198,712.93
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 26
Valuation of : 168D(P.Dhara)
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct RESIDENTIAL PRECINCT
Sub-Precinct UV-2
Land Area (sqft) 5,663.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 353.09
Land Value (Nu.)
1,599,638.94
Building Details
Plinth area (sqft) 1,938.00
Residential Commercial
Rooms 57 -
Floors 5 -
Ceiling Height (m) 2.85 -
Age (years) 2
Life (years) 75
Building Value (Nu.)
82,629,304.44
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
Other Building Value (Nu.) -
Total Property Value (Nu.)
84,228,943.38
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 27
Valuation of : 161/B
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct COMMERCIAL (URBAN CORE & VEGETABLE MARKET)
Sub-Precinct UC
Land Area (sqft) 17,577.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 913.18
Land Value (Nu.)
12,840,771.89
Building Details
Plinth area (sqft) 4,293.00
Residential Commercial
Rooms 192
53
Floors 4
2
Ceiling Height (m) 3.00
3.00
Age (years) 2
Life (years) 75
Building Value (Nu.)
228,707,782.24
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
Other Building Value (Nu.) -
Total Property Value (Nu.)
241,548,554.13
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 28
Valuation of : 226
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct COMMERCIAL (URBAN CORE & VEGETABLE MARKET)
Sub-Precinct UC
Land Area (sqft) 2,731.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 913.18
Land Value (Nu.)
1,995,115.66
Building Details
Plinth area (sqft) 2,443.00
Residential Commercial
Rooms 80
2
Floors 4
1
Ceiling Height (m) 3.00
3.00
Age (years) 3
Life (years) 75
Building Value (Nu.)
104,173,209.91
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
60.00
Gate RCC Gate/MS Grill
1.49
Other Sheds CGI sheds
6.00
Parking Area
Retaining Wall RRM
Water Tank Sintex
2.00
Other Building Value (Nu.)
496,197.28
Total Property Value (Nu.)
106,664,522.85
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 29
Valuation of : 280
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct COMMERCIAL (URBAN CORE & VEGETABLE MARKET)
Sub-Precinct UC
Land Area (sqft) 4,867.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 913.18
Land Value (Nu.)
3,555,557.65
Building Details
Plinth area (sqft) 2,418.00
Residential Commercial
Rooms 56
26
Floors 3
2
Ceiling Height (m) 3.15
3.15
Age (years) 5
Life (years) 75
Building Value (Nu.)
102,678,112.56
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
15.00
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
3.00
Other Building Value (Nu.)
311,714.55
Total Property Value (Nu.)
106,545,384.75
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 30
Valuation of : 57A
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct COMMERCIAL (URBAN CORE & VEGETABLE MARKET)
Sub-Precinct UC
Land Area (sqft) 3,902.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 913.18
Land Value (Nu.)
2,850,582.69
Building Details
Plinth area (sqft) 1,970.00
Residential Commercial
Rooms 16
33
Floors 1
6
Ceiling Height (m) 2.50
3.15
Age (years) 3
Life (years) 75
Building Value (Nu.)
100,591,233.48
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
40.50
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
3.00
Other Building Value (Nu.)
433,629.29
Total Property Value (Nu.)
103,875,445.46
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 31
Valuation of : 107A
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct COMMERCIAL (URBAN CORE & VEGETABLE MARKET)
Sub-Precinct UC
Land Area (sqft) 2,292.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 913.18
Land Value (Nu.)
1,674,406.85
Building Details
Plinth area (sqft) 1,083.00
Residential Commercial
Rooms -
29
Floors -
4
Ceiling Height (m) -
3.00
Age (years) 2
Life (years) 75
Building Value (Nu.)
32,501,977.11
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
13.50
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
3.00
Other Building Value (Nu.)
304,543.10
Total Property Value (Nu.)
34,480,927.06
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 32
Valuation of : 337
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct COMMERCIAL (URBAN CORE & VEGETABLE MARKET)
Sub-Precinct UC
Land Area (sqft) 12,105.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 913.18
Land Value (Nu.)
8,843,235.12
Building Details
Plinth area (sqft) 7,142.00
Residential Commercial
Rooms -
124
Floors -
6
Ceiling Height (m) -
3.35
Age (years) 4
Life (years) 75
Building Value (Nu.)
324,980,983.89
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
15.75
Water Tank Sintex
4.00
Other Building Value (Nu.)
424,942.25
Total Property Value (Nu.)
334,249,161.26
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 33
Valuation of : 500(BPC)
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct COMMERCIAL (URBAN CORE & VEGETABLE MARKET)
Sub-Precinct UC
Land Area (sqft) 15,015.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 913.18
Land Value (Nu.)
10,969,118.16
Building Details
Plinth area (sqft) 3,560.00
Residential Commercial
Rooms 87 -
Floors 5 -
Ceiling Height (m) 2.85 -
Age (years) 4
Life (years) 75
Building Value (Nu.)
146,150,735.54
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
354.00
Gate RCC Gate/MS Grill
1.43
Other Sheds CGI sheds
36.00
Parking Area
Retaining Wall RRM
Water Tank Sintex
4.00
Other Building Value (Nu.)
2,211,042.08
Total Property Value (Nu.)
159,330,895.78
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 34
Valuation of : 58 and 57B
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct COMMERCIAL (URBAN CORE & VEGETABLE MARKET)
Sub-Precinct UC
Land Area (sqft) 3,855.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 913.18
Land Value (Nu.)
2,816,247.12
Building Details
Plinth area (sqft) 2,335.00
Residential Commercial
Rooms 80
11
Floors 5
2
Ceiling Height (m) 3.00
3.00
Age (years) 5
Life (years) 75
Building Value (Nu.)
132,763,373.96
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
21.00
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
4.00
Other Building Value (Nu.)
420,400.37
Total Property Value (Nu.)
136,000,021.45
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 35
Valuation of : 316 FCB-5
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct COMMERCIAL (URBAN CORE & VEGETABLE MARKET)
Sub-Precinct UC
Land Area (sqft) 12,743.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 913.18
Land Value (Nu.)
9,309,322.19
Building Details
Plinth area (sqft) 8,759.00
Residential Commercial
Rooms 144
23
Floors 3
1
Ceiling Height (m) 3.00
3.00
Age (years) 7
Life (years) 75
Building Value (Nu.)
274,485,169.51
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick with Mesh
227.25
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
6.00
Other Building Value (Nu.)
681,870.72
Total Property Value (Nu.)
284,476,362.42
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 36
Valuation of : IIIA
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct COMMERCIAL (URBAN CORE & VEGETABLE MARKET)
Sub-Precinct UC
Land Area (sqft) 2,105.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 913.18
Land Value (Nu.)
1,537,795.12
Building Details
Plinth area (sqft) 1,143.00
Residential Commercial
Rooms -
46
Floors -
7
Ceiling Height (m) -
2.85
Age (years) 3
Life (years) 75
Building Value (Nu.)
55,690,032.38
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick with Mesh
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
3.00
Other Building Value (Nu.)
240,000.00
Total Property Value (Nu.)
57,467,827.50
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 37
Valuation of : 37
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct COMMERCIAL (URBAN CORE & VEGETABLE MARKET)
Sub-Precinct UC
Land Area (sqft) 4,208.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 913.18
Land Value (Nu.)
3,074,129.15
Building Details
Plinth area (sqft) 1,620.00
Residential Commercial
Rooms -
53
Floors -
5
Ceiling Height (m) -
3.00
Age (years) 1
Life (years) 75
Building Value (Nu.)
61,604,893.44
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick with Mesh
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
3.00
Other Building Value (Nu.)
240,000.00
Total Property Value (Nu.)
64,919,022.59
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 38
Valuation of : 63A
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct COMMERCIAL (URBAN CORE & VEGETABLE MARKET)
Sub-Precinct UC
Land Area (sqft) 3,140.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 913.18
Land Value (Nu.)
2,293,908.16
Building Details
Plinth area (sqft) 2,026.00
Residential Commercial
Rooms 56
10
Floors 4
3
Ceiling Height (m) 2.85
2.85
Age (years) 1
Life (years) 75
Building Value (Nu.)
111,454,653.02
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick with Mesh
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
10.50
Water Tank Sintex
3.00
Other Building Value (Nu.)
309,961.50
Total Property Value (Nu.)
114,058,522.68
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 39
Valuation of : 32
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct COMMERCIAL (URBAN CORE & VEGETABLE MARKET)
Sub-Precinct UC
Land Area (sqft) 3,646.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 913.18
Land Value (Nu.)
2,663,563.42
Building Details
Plinth area (sqft) 2,211.00
Residential Commercial
Rooms 48
16
Floors 4
3
Ceiling Height (m) 2.90
3.15
Age (years) 2
Life (years) 75
Building Value (Nu.)
124,603,477.54
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick with Mesh
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
2.00
Other Building Value (Nu.)
160,000.00
Total Property Value (Nu.)
127,427,040.97
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 40
Valuation of : 2(B4)
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct COMMERCIAL (URBAN CORE & VEGETABLE MARKET)
Sub-Precinct UC
Land Area (sqft) 7,495.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 913.18
Land Value (Nu.)
5,475,427.28
Building Details
Plinth area (sqft) 2,904.00
Residential Commercial
Rooms 28
20
Floors 2
3
Ceiling Height (m) 3.15
3.15
Age (years) 5
Life (years) 75
Building Value (Nu.)
112,039,316.93
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick with Mesh
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
3.00
Other Building Value (Nu.)
240,000.00
Total Property Value (Nu.)
117,754,744.21
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 41
Valuation of : PGH
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct INSTITUTIONAL PRECINCT
Sub-Precinct I
Land Area (sqft) 304,920.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 380.25
Land Value (Nu.)
92,756,664.00
Building Details
Plinth area (sqft) 19,558.00
Residential Commercial
Rooms -
176
Floors -
4
Ceiling Height (m) -
4.00
Age (years) 6
Life (years) 75
Building Value (Nu.)
595,991,904.08
Other Building Details
Area Lighting Lamp Post
9.00
Boundary Wall Fencing (Barbed)
448.00
Gate RCC Gate/MS Grill
1.75
Other Sheds Brick
35.00
Parking Area
Retaining Wall RRM
19.95
Water Tank Sintex
4.00
Other Building Value (Nu.)
1,066,219.60
Total Property Value (Nu.)
689,814,787.68
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 42
Valuation of : 24(BOB)
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct INSTITUTIONAL PRECINCT
Sub-Precinct I
Land Area (sqft) 27,062.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 380.25
Land Value (Nu.)
8,232,260.40
Building Details
Plinth area (sqft) 7,165.00
Residential Commercial
Rooms -
47
Floors -
5
Ceiling Height (m) -
3.50
Age (years) 7
Life (years) 75
Building Value (Nu.)
260,292,412.80
Other Building Details
Area Lighting Lamp Post
8.00
Boundary Wall Brick
31.20
Gate RCC Gate/MS Grill
1.82
Other Sheds Brick
Parking Area
Retaining Wall RRM
Water Tank Sintex
4.00
Other Building Value (Nu.)
697,984.69
Total Property Value (Nu.)
269,222,657.89
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 43
Valuation of : PLSS
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct INSTITUTIONAL PRECINCT
Sub-Precinct I
Land Area (sqft) 67,456.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 380.25
Land Value (Nu.)
20,520,115.20
Building Details
Plinth area (sqft) 2,983.00
Residential Commercial
Rooms -
14
Floors -
3
Ceiling Height (m) -
3.04
Age (years) 7
Life (years) 75
Building Value (Nu.)
57,541,633.12
Other Building Details
Area Lighting Lamp Post
20.00
Boundary Wall RRM
232.50
Gate RCC Gate/MS Grill
1.47
Other Sheds Brick
4.60
Parking Area
Retaining Wall RRM
61.95
Water Tank Sintex
3.00
Other Building Value (Nu.)
1,766,319.62
Total Property Value (Nu.)
79,828,067.94
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 44
Valuation of : G-5(RRCO)
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct INSTITUTIONAL PRECINCT
Sub-Precinct I
Land Area (sqft) 82,929.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 380.25
Land Value (Nu.)
25,227,001.80
Building Details
Plinth area (sqft) 9,447.00
Residential Commercial
Rooms -
79
Floors -
5
Ceiling Height (m) -
3.18
Age (years) 5
Life (years) 75
Building Value (Nu.)
327,050,079.43
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick
264.00
Gate RCC Gate/MS Grill
1.32
Other Sheds Brick
Parking Area
Retaining Wall RRM
7.35
Water Tank Sintex
Other Building Value (Nu.)
1,328,207.07
Total Property Value (Nu.)
353,605,288.30
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 45
Valuation of : BIFA(RIGGS)
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct INSTITUTIONAL PRECINCT
Sub-Precinct I
Land Area (sqft) 30,800.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 380.25
Land Value (Nu.)
9,369,360.00
Building Details
Plinth area (sqft) 15,000.00
Residential Commercial
Rooms -
39
Floors -
3
Ceiling Height (m) -
4.00
Age (years) 2
Life (years) 75
Building Value (Nu.)
392,223,744.00
Other Building Details
Area Lighting Lamp Post
29.00
Boundary Wall Marble
363.75
Gate RCC Gate/MS Grill
1.45
Other Sheds CGI sheds
6.21
Parking Area
Retaining Wall RRM
197.40
Water Tank Sintex
Other Building Value (Nu.)
3,201,450.95
Total Property Value (Nu.)
404,794,554.95
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 46
Valuation of : 504(Dratshang)
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct HERITAGE PRECINCT
Sub-Precinct H
Land Area (sqft) 188,179.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 325.93
Land Value (Nu.)
49,066,545.18
Building Details
Plinth area (sqft) 7,026.00
Residential Commercial
Rooms - -
Floors -
2
Ceiling Height (m) -
4.35
Age (years) 35
Life (years) 75
Building Value (Nu.) -
Other Building Details
Area Lighting Lamp Post
Boundary Wall Marble
Gate RCC Gate/MS Grill
Other Sheds CGI sheds
Parking Area
Retaining Wall RRM
Water Tank Sintex
Other Building Value (Nu.) -
Total Property Value (Nu.)
49,066,545.18
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 47
Valuation of : G-41(RSTA)
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct SERVICES & AMENITIES PRECINCT
Sub-Precinct S
Land Area (sqft) 128,209.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 380.25
Land Value (Nu.)
39,001,177.80
Building Details
Plinth area (sqft) 10,243.00
Residential Commercial
Rooms -
38
Floors -
4
Ceiling Height (m) -
4.00
Age (years) 6
Life (years) 75
Building Value (Nu.)
337,547,395.89
Other Building Details
Area Lighting Lamp Post
4.00
Boundary Wall Brick with grill
375.00
Gate RCC Gate/MS Grill
1.79
Other Sheds Brick
4.00
Parking Area
Retaining Wall RRM
19.95
Water Tank Sintex
2.00
Other Building Value (Nu.)
739,805.73
Total Property Value (Nu.)
377,288,379.42
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 48
Valuation of : 368D/E(Phar. Fac. ToriBari)
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct SERVICES & AMENITIES PRECINCT
Sub-Precinct S
Land Area (sqft) 25,265.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 380.25
Land Value (Nu.)
7,685,613.00
Building Details
Plinth area (sqft) 14,883.00
Residential Commercial
Rooms 85 -
Floors -
2
Ceiling Height (m) 3.30 -
Age (years) 1
Life (years) 75
Building Value (Nu.) -
Other Building Details
Area Lighting Lamp Post
Boundary Wall Brick with grill
Gate RCC Gate/MS Grill
Other Sheds Brick
Parking Area
Retaining Wall RRM
Water Tank Sintex
Other Building Value (Nu.) -
Total Property Value (Nu.)
7,685,613.00
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 49
Valuation of : 22(FCB-7)
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct SERVICES & AMENITIES PRECINCT
Sub-Precinct S
Land Area (sqft) 24,479.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 380.25
Land Value (Nu.)
7,446,511.80
Building Details
Plinth area (sqft) 3,150.00
Residential Commercial
Rooms 80
4
Floors 4
1
Ceiling Height (m) 3.18
3.18
Age (years) 4
Life (years) 75
Building Value (Nu.)
138,408,240.82
Other Building Details
Area Lighting Lamp Post
Boundary Wall RRM
147.00
Gate RCC Gate/MS Grill
Other Sheds Brick
165.00
Parking Area
Retaining Wall RRM
Water Tank Sintex
2.00
Other Building Value (Nu.)
1,743,335.14
Total Property Value (Nu.)
147,598,087.76
Property Valuation Report, Pilot Implementation of PVM
Phuentsholing Thromde 50
Valuation of : G-28
Phuentsholing Thromde
as on 20/06/2014
Land Details
Precinct SERVICES & AMENITIES PRECINCT
Sub-Precinct S
Land Area (sqft) 150,718.00
Road Access TRUE
Soil Stability TRUE
Water Availability TRUE
Base Rate (Nu./sqft) 380.25
Land Value (Nu.)
45,848,415.60
Building Details
Plinth area (sqft) 24,801.00
Residential Commercial
Rooms 87
52
Floors -
3
Ceiling Height (m) -
3.20
Age (years) 7
Life (years) 75
Building Value (Nu.)
483,267,794.04
Other Building Details
Area Lighting Lamp Post
20.00
Boundary Wall RRM
Gate RCC Gate/MS Grill
1.35
Other Sheds Brick
Parking Area
Retaining Wall RRM
54.08
Water Tank Sintex
2.00
Other Building Value (Nu.)
1,050,797.97
Total Property Value (Nu.)
530,167,007.61
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