Mapping of Land Values in Kigamboni District Dar es Salaam
Modernizing Urban Land Market in Tanzania
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In recent years there have been claims posed by financial institutions and valuation professional bodies that land values are not properly and realistically stated. This has brought complaints to compensation and affected mortgage financing in Tanzania. Apparently, both local and international aspirant investors in the land sector at Kigamboni are not sure of how to budget their capital to pay for land due to the uncertainty of value estimation. Generally, the unreliability of land values has raised doubts to financial sectors to finance real estate projects at Kigamboni and thus hampered the ...
In recent years there have been claims posed by financial institutions and valuation professional bodies that land values are not properly and realistically stated. This has brought complaints to compensation and affected mortgage financing in Tanzania. Apparently, both local and international aspirant investors in the land sector at Kigamboni are not sure of how to budget their capital to pay for land due to the uncertainty of value estimation. Generally, the unreliability of land values has raised doubts to financial sectors to finance real estate projects at Kigamboni and thus hampered the prospective Kigamboni new city development project. As a matter of fact, urban property management processes are complex in nature thus compelling the various use of land value maps for non-legal purposes like signaling land prices to buyers. Mapping of land values produce maps that are generally used in mass appraisal for the determination of property taxes.This book proposes a concept for the development of online land value maps which may be applied for non-taxes purposes and thus informing on land values to prospective investors hence modernizing land market operations in Tanzania.
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