Valuation Of Properties Begins Along Iwofe Road

Following the award of contract for the expansion of Rumuolumeni-Iwofe Road in Obio/Akpor Local Government Area of Rivers State, valuation of houses for the process of paying compensation to property owners has began.

Making this known in a chat with The Tide in Port Harcourt, a chartered valuer and property consultant, Mr Benjamin Oti said properties along the Iwofe road were already undergoing assessment, by competent estate valuers.

Mr Oti who is the Principal Consultant of Ben Oti and company, a property consultant firm and a member of Nigerian Institution of Estate Surveyors and Valuers (NIESV) said that the essence of valuation and assessment of the properties was to ascertain the proper value and cost of the building and prepare the necessary documentation that will enable payment of proper compensation to owners in the affected area.

He explained that government valuers will not allow quacks to represent any property owner, as this is one of the ways NIESV has adopted to eliminate quackery in their midst.

According to him “After assessment has been done, we will present a valuation report. A lawyer cannot prepare a valuation report except the lawyer is also a trained valuer”.

Corlins Walter