Property valuation is an essential part of managing real estate properties. This service helps property owners to find the market value of their lands, residential apartments, villas or hotel apartments. Dubai Land Department (DLD) has played an important role in providing services to regulate the real estate market in the Emirate. That said, DLD offers property valuation services.
Let’s go through the complete process and requirements to request property valuation in Dubai.
All about Requesting Property Valuation in Dubai
Property valuation is the evaluation of a property’s market value. It is assessed based on a a range of criteria and factors. Since buying a property is a lifetime decision, requesting property valuation in Dubai helps buyers to make a better choice and find the market value.
Moreover, the property valuation service by DLD helps people find the mortgage value, applicable taxes, and other property-related factors. Besides, it helps the buyers to project the market value in a few years and estimated ROI.
Here are the complete details on how to apply for property valuation services in Dubai.
Required Documents
When you own a property in Dubai, you can request its valuation from DLD by submitting the following documents:
- Real estate valuation request form
- Letter from the owner
- Copy of Owner’s Emirates ID card or passport
- Copy of the municipality or the planning map
Alongside the aforementioned documents, applicants need to submit the following documents to request property valuation in Dubai depending on the type of real estate:
For a vacant land of a major real estate project or one of its stages, the requester must submit the following documents
- No objection certificate from the main building developer or bank
- Sale or purchase agreement
If the user owns a residential villa in Dubai or any building, they can submit the following documents to request property valuation in the Emirate:
- Built-up construction area
- A detailed statement showing the number of villas or building units
- Expenses statement for the past three years
- Ejari contracts for each building unit or villa
Furthermore, this DLD service allows the users to request the valuation of a hotel building with the land it is built on:
- Built-up construction area
- Room rental value, and the number of facilities, halls and restaurants on the premises
- Detailed expense statement from a certified accounts office showing net profits over the past three years
- A hotel management contract
- Tax letter from Dubai Municipality
Fees
When you own a house or any other type of property, you will have to submit the following fees to receive a property valuation certificate by DLD:
- Residential Vacant Land valuation
- AED 2,000
- A Service partners fees of AED 180 + VAT (When applying at the Real Estate Services Trustees Centres)
- Land Valuation for a major real estate project or one of its stages:
- AED 10,000
- A Service partners fees of AED 430 + VAT (When customers apply at Real Estate Services Trustees Centres)
- Requesting the valuation of a residential apartment in Dubai or a villa, the customer needs to pay the following fees:
- AED 4,000
- A Service partners fees of AED 230 + VAT (If the customer applies at the Real Estate Services Trustees Centres)
- The following fees are applicable for the valuation of a hotel building with its land:
- AED 15,000
- A Service partners fees of AED 530 + VAT (When applying at the Real Estate Services Trustees Centres)
Alongside each type of fee when applicants request residential or commercial property valuation in Dubai, they need to pay AED 10 as knowledge fees and AED 10 as innovation fees.
Payment Methods
Customers requesting property valuation in Dubai need to pay the aforementioned fees via the following payment methods:
- Cash
- ePay
- Credit or debit card
Process to Request Property Valuation in Dubai
Customers can request property valuation in Dubai through the Dubai Rest App (Android | iOS) or by visiting the Real Estate Service Trustee Centres. Let’s go through the complete procedure to request property valuation in Dubai.
Request Property Valuation via the Real Estate Service Trustee Offices
Applicants can request property valuation by visiting the Real Estate Service Trustee Offices. Here is the procedure to put forward a property valuation request:
- Submit the required documents to the officer and ensure that all the documents are complete.
- The officer will enter the complete transaction data into the system.
- Customers need to pay the fees and receive a receipt.
The customers will receive the property valuation certificate in Dubai via email within one to eight working days.
Request Property Valuation via Dubai REST Application
Applicants can also request property valuation via Dubai Rest Application by following the below steps:
- Create an account on the Dubai Rest mobile application or log in if you have an existing account.
- Choose the property valuation service.
- Fill in all the details and submit the required documents.
- Pay the fees via the available payment channels.
- The data entered is verified by the DLD employee.
- The customer receives an email after approval of the request.
After the approval of the request, the applicant will receive a property valuation certificate in Dubai via email.
These were the complete details on how to request property valuation in Dubai. Alongside this, when buying a property on mortgage, you will need to request mortgage registration in Dubai via the DLD service. Also, if you are looking for a rental apartment, you can request the property lease valuation in Dubai.
These valuation and registration services help regulate the real estate market in Dubai. Therefore, when you buy an apartment in Dubai or any other property type, ensure that you use these services to find the market value of the real estate.
Stay connected to the UAE’s leading real estate blog to find more information on property registration and valuation services.
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