M. C. Abdul Malick Chartered Valuer: 54/3C Prathibimbarama Road, Dehiwela

M. C. Abdul Malick Int. Sc. (Lond.) D. I. V. (SL) F. I. V.
(SL)
(Retd. State Valuer)
CHARTERED VALUER
Residence:
54/3C Prathibimbarama Road,
DEHIWELA
Tele: 077-726 5649
VALUATION REPORT OF A PREMISES NO. 188/1 - 4, N. J. V. COORAY MAWATHA, NAWALA
REFERENCE : V/3269/22
At the request of the General Manager of ASP Constructions Pvt. Ltd of Colombo, a company
duly incorporated under the company’s ordinance and having its registered office at Borella,
Colombo in the Democratic Socialist Republic of Lanka, I inspected the aforementioned
property on 30/09/2017 in order to determine the market value of the property as at the date
of inspection.
TITLE : ASP Constructions Company owns the property by virtue of

Deed of Transfer No. 6323 dated on 20/09/1991 attested by
P. D. Goonesekera NP.
SITUATION : The property is situated along N. J. V. Cooray Mawatha bearing

Asst. No.s 188/1 - 4 in Nawala within the Municipal Council limits
of Kotte in Pallepaththu of Salpiti Korale in the District of
Colombo, Western Province and depicted in Plan No. 9038
dated 11/10/1993 made by N. Abayasiri LS.
EXTENT : 0A - 3R - 3 0.5P as per Plan No. 9038
All boundaries are in accordance with the aforesaid Plan No.

9038.
LOCAL AUTHORITY : The property is not subjected to any street lines but it has a
building line of 25 feet from the centre of the road and it is not
affecting the building. The land is not to be vested by the
Municipal Council for non-payment of assessment rates.
ACCESS : From Nugegoda Junction, travel upto Koswatta Junction and

turn right and travel up to 2nd Lane. Over 2nd Lane, turn to N. J.
V. Cooray Mawathaand travel about 1km to reach the property
abutting on its right.
DESCRIPTION : It is a luxury building built on an approved building plan dated
04/07/1995 and it is about 23 years old but was in very good
condition as of the date of inspection.
Condition - Excellent Condition.

Occupation - Owner Occupied.
Accommodation -
GF
Car Porch, Paved area, separate entrance for above floor,
veranda, courtyard, living hall, stairway, 2 bedrooms, hi-fi room,
dining, store, kitchen, swimming pool, 3 attached toilets and
servant’s toilet.
FF
Lounge, open to sky area, 3 bedrooms, balconies, lobby,
terrace, two kitchen areas, 3 attached toilets.
CONSTRUCTION : Asbestos roof complete with class 1 timber strips, ceiling and
down pipes.
Brick masonry walls, secured with RCC columns and beams.
Upper floor is tiled with RCC slab.
Ground Floor is not tiled and is of concrete floor.
All floors are covered with class 1 Rangoon teak and partly with
imported tiles.
Staircase steps are fully covered with Rangoon teak. All doors
and window frames are of Rangoon teak frame with teak doors
and windows are fully glazed.
Glazed windows are secured with flat iron sashes.
All toilets are equipped with 3 piece sets and tiled floors and
walls.
There is a swimming pool well constructed with 3.5ft and 5.5ft
depths on both sides.
The land is an irregular shaped land, fairly flat with load-bearing
soil. The boundary is demarcated on one side with wire netting
where that side fronts the lake. There is excess land. The land
has an extra decorative gate to enter the premises. There is a
servants’ quarters building at the rear which is neither shown in
the survey plan nor in the building plan. Therefore I consider
the servants’ quarters not applicable to the valuation.
Floor Area
GF - 3612 SQFT
FF - 3299 SQFT
TOTAL - 6911 SQFT
LOCALITY AND : The premise is located in an excellent locality of Nawala where
EVIDENCE OF the Royal Housing Scheme is located. The lake passes through
VALUES the centre of the area where one side is Royal Housing Scheme
and the other side is the property concerned. Boats ply on the
canal and it is a very beautiful scene to look at.
Right round the house in question is a collection of newly built

luxury houses. Gateway International School is in very close
proximity. On N. J. V. Cooray Mawatha, one side is Koswatta
Junction and the other side is Nawala Junction. Both Junctions
are well developed with shopping complexes, bands, schools ,
municipal council, places of worship, children’s playgrounds,
etc.
Considering the factors of the property in question such as its

locality, size and laws and statutes governing the area; supply
and demand of small blocks of land which are not available
could be put to use by the property in question because there
is a lot of excess land in the property concerned.
10 - 20P blocks of land are transacting in the immediate vicinity,

4-5 Million a perch, in this particular case I am of the opinion
that a perch in this particular land is worth 4 Million in view of
large lands of this nature and its locality.
Further I estimate the construction of the house at

Rs.9,000/- PSQFT, as at today and depreciate for the age of the
house at 25%.
VALUATION : Contractor’s Method

Land 150.5P at RS.4,000,000/- a perch = RS.602,000,000/-
Building - 6911 SQFT at RS.9,000/- PSQFT = RS.62,199,000/-

Depreciation of 25% = RS.15,549,750/-
Total = RS.46,649,250/-
Swimming Pool = RS.10,000,000/-
TOTAL - RS.658,649,250/-
Say RS.659,000,000/-
(Rupees Six Hundred and Fifty Nine Million ONLY)
I certify that the property inspected and valued by me is identical to the property depicted in
Plan No. 9038 dated 11/10/1993 made by N. Abayasiri LS.

M. C. Abdul Malick Chartered Valuer: 54/3C Prathibimbarama Road, Dehiwela

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M. C. Abdul Malick Int. Sc. (Lond.) D. I. V. (SL) F. I. V.

VALUATION REPORT OF A PREMISES NO. 188/1 - 4, N. J. V. COORAY MAWATHA, NAWALA

TITLE : ASP Constructions Company owns the property by virtue of

SITUATION : The property is situated along N. J. V. Cooray Mawatha bearing

EXTENT : 0A - 3R - 3 0.5P as per Plan No. 9038

All boundaries are in accordance with the aforesaid Plan No.

ACCESS : From Nugegoda Junction, travel upto Koswatta Junction and

Condition - Excellent Condition.

Right round the house in question is a collection of newly built

Considering the factors of the property in question such as its

10 - 20P blocks of land are transacting in the immediate vicinity,

Further I estimate the construction of the house at

VALUATION : Contractor’s Method

Building - 6911 SQFT at RS.9,000/- PSQFT = RS.62,199,000/-

Swimming Pool = RS.10,000,000/-

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