Valuation Service

The Department provides services to Government and semi-government institutions including Provincial Councils and Local Authorities, in the sphere of Valuation and Property Management, where main functions of the Department would be classified under following major categories of activities;

Key Functions

• Valuations under the provisions of the Land Acquisition Act No. 9 of 1950 which are acquired compulsorily for public purposes.
  • Preparation of valuations for the payment of compensation under section 17(1).
  • Preparation of Condition Reports for the lands which are acquired for urgent development purposes under Section 38 (a).
  •  Preparation of estimates of compensation for the allocation of funds, in respect of lands to be acquired under the Land Acquisition Act.
• Miscellaneous Capital Valuations of Immovable and Movable properties for various purposes.
  • Valuations of purchases and disposals under private treaty.
  •  Valuations for long term (99 Yrs.), medium term (50 Yrs.), short term (30 Yrs.) and other lease purposes.
  •  The Department also undertakes business valuations of Public Enterprises, whenever requested by the Treasury.
  •  Valuations for Courts of Law and various other Tribunals which hear and determine valuation related disputes.
  •  Vehicle valuations for state and Semi-Government institutions for accounting and insurance purposes.
  • Assessment of compensation under Disaster Management situation
• Valuations under legal enactments
  •  Valuations are carried out where the Chief Valuer is required and empowered to make valuations under statutory provisions such as Bribery Act, Stamp Duty Act & Land Reform Law etc.
• Rental Valuations
  • Rental valuations on market/ economic rent of State quarters under Establishment Code XIX.
  •  Rental Valuations are furnished to the State and other Institutions, either in respect of their property holdings identified for letting out, or when such institutions require private property for their use and occupation.
• Asset Valuations
  • Asset valuations for State and Semi-Government institutions for accounting purpose.

    * State Assets
    * Public enterprises & Provincial Council Assets
    * Corporate Assets

• Rating Valuations
  •  The Department carries out assessments and re-assessments of properties in all local authorities in the country in every 5 years , except of those within Colombo Municipal Council limits, for levying of rates (for local taxation).
  •  Provides professional assistance in determination of objections made in respect of such assessments by aggrieved rate payers.
  • Provide Valuations for the intermediate ownership changes in respect of such assessments.
  • Provide Valuations for the intermediate new constructions in respect of such assessments.
  • The Council, with the approval of the Chief Valuer, fixes the annual value of crown properties within the Colombo Municipal Council Limits.
• Providing Advisory services and expert evidences
  • The department assists Court of Low and various other tribunals which hear and compensation and valuation disputes by leading expert evidences.
  • Rent Boards sittings as the ex-officio member.
  • Represent the Chief Valuer on Land Acquisition Board of Review (LABR).
  • Represent the Chief Valuer at Land Acquisition Resettlement Committee (LARC)
  • Represent the Chief Valuer at Special Land Acquisition Resettlement Committee (Super LARC).
  • Providing Advisory service on compensation matters to the acquiring officers by participating section 9 inquiries under Land Acquisition Regulation 2008.