Valuation approaches and methodologies for stratum title in Malaysia

Underground concept is considerably new, which was introduced in National Land Code (Amendment) 1990 (Act A752/1990) and has been gazetted on 22nd February 1990. Prior to the above amendment, the use of underground land by the owner did not have any restrictions in terms of usage or depth. The amend...

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Main Author:	Abd. Rasid, Faziah
Format:	Thesis
Language:	English
Published:	2016
Subjects:	G70.212-70.215 Geographic information system
Online Access:	http://eprints.utm.my/id/eprint/78010/1/FaziahAbdRasidMFGHT2016.pdf
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id	my-utm-ep.78010
record_format	uketd_dc
spelling	my-utm-ep.780102018-07-23T06:05:21Z Valuation approaches and methodologies for stratum title in Malaysia 2016-08 Abd. Rasid, Faziah G70.212-70.215 Geographic information system Underground concept is considerably new, which was introduced in National Land Code (Amendment) 1990 (Act A752/1990) and has been gazetted on 22nd February 1990. Prior to the above amendment, the use of underground land by the owner did not have any restrictions in terms of usage or depth. The amendment enables the state authorities to issue stratum title for underground land. Stratum Title can be separated from land titles issued for surface land. The appraisal of real estate with regard to underground development with many utilities involves some unusual circumstances. Ordinary appraisal is concerned with a total bundle of rights referred to as fee simple interests and it is generally assumed that the use of real property rights are related to the surface of the land. However, there are several below-surface uses of land that require a real estate appraisal. The first objective of this research is to examine underground land use rights and legislation in Malaysia and underground development in other countries. The second objective is to analyse the valuation approaches and methodologies of Stratum Title in the Malaysian context. In achieving the first objective, qualitative analysis was employed to identify the differences of Stratum Title in Malaysia and other countries in terms of practices and legislation. Content analysis was carried out by using of Nvivo software. The primary data of expert interviews were analysed and used to establish the valuation approaches and methodologies for Stratum Title in Malaysia. There are several suggestions of valuation approaches for Stratum Title in the context of Malaysia such as the Shadow Approach, Residual Method, Cost Method and Comparison Method. Residual Method by extension of the Discounted Cash Flow Method and finally Comparison Method with a mixture of other principles are considered more appropriate approaches to value the Stratum Title in Malaysia. 2016-08 Thesis http://eprints.utm.my/id/eprint/78010/ http://eprints.utm.my/id/eprint/78010/1/FaziahAbdRasidMFGHT2016.pdf application/pdf en public http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:95231 masters Universiti Teknologi Malaysia, Faculty of Geoinformation and Real Estate Faculty of Geoinformation and Real Estate
institution	Universiti Teknologi Malaysia
collection	UTM Institutional Repository
language	English
topic	G70.212-70.215 Geographic information system
spellingShingle	G70.212-70.215 Geographic information system Abd. Rasid, Faziah Valuation approaches and methodologies for stratum title in Malaysia
description	Underground concept is considerably new, which was introduced in National Land Code (Amendment) 1990 (Act A752/1990) and has been gazetted on 22nd February 1990. Prior to the above amendment, the use of underground land by the owner did not have any restrictions in terms of usage or depth. The amendment enables the state authorities to issue stratum title for underground land. Stratum Title can be separated from land titles issued for surface land. The appraisal of real estate with regard to underground development with many utilities involves some unusual circumstances. Ordinary appraisal is concerned with a total bundle of rights referred to as fee simple interests and it is generally assumed that the use of real property rights are related to the surface of the land. However, there are several below-surface uses of land that require a real estate appraisal. The first objective of this research is to examine underground land use rights and legislation in Malaysia and underground development in other countries. The second objective is to analyse the valuation approaches and methodologies of Stratum Title in the Malaysian context. In achieving the first objective, qualitative analysis was employed to identify the differences of Stratum Title in Malaysia and other countries in terms of practices and legislation. Content analysis was carried out by using of Nvivo software. The primary data of expert interviews were analysed and used to establish the valuation approaches and methodologies for Stratum Title in Malaysia. There are several suggestions of valuation approaches for Stratum Title in the context of Malaysia such as the Shadow Approach, Residual Method, Cost Method and Comparison Method. Residual Method by extension of the Discounted Cash Flow Method and finally Comparison Method with a mixture of other principles are considered more appropriate approaches to value the Stratum Title in Malaysia.
format	Thesis
qualification_level	Master's degree
author	Abd. Rasid, Faziah
author_facet	Abd. Rasid, Faziah
author_sort	Abd. Rasid, Faziah
title	Valuation approaches and methodologies for stratum title in Malaysia
title_short	Valuation approaches and methodologies for stratum title in Malaysia
title_full	Valuation approaches and methodologies for stratum title in Malaysia
title_fullStr	Valuation approaches and methodologies for stratum title in Malaysia
title_full_unstemmed	Valuation approaches and methodologies for stratum title in Malaysia
title_sort	valuation approaches and methodologies for stratum title in malaysia
granting_institution	Universiti Teknologi Malaysia, Faculty of Geoinformation and Real Estate
granting_department	Faculty of Geoinformation and Real Estate
publishDate	2016
url	http://eprints.utm.my/id/eprint/78010/1/FaziahAbdRasidMFGHT2016.pdf
_version_	1747817885231742976

Valuation approaches and methodologies for stratum title in Malaysia

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