The Department provides services to Government and semi-government institutions including Provincial Councils and Local Authorities, in the sphere of Valuation and Property Management.
Valuations of properties, which are compulsory acquired under Land Acquisition Act No.9 of 1950Preparation of valuations for the payment of compensation for the private lands which are acquired compulsorily for public purposes under the provisions of the Land Acquisition Act.
The department prepares ‘Condition Reports’ in respect of private lands, which are compulsorily acquired for public purposes and where, possession is being vested immediately with the State and subsequent preparation of valuations for payment of compensation in respect of such lands, under Section 38 (a) of the Land Acquisition Act of Sri Lanka in major and under several other Statutory Laws.
Preparation of Estimates, for allocation of funds for future compulsory acquisitions of lands, under the provisions of the Land Acquisition Act of Sri Lanka.
Valuation of movable and immovable properties are performed by the department, for various purposes including, valuations for purchases and disposals under private treaty, accounting purposes & lease purposes, when such valuations are required by the State and State sector institutions.
Rental Valuations are furnished to the State and State Sector Institutions either in respect of their property holdings identified for letting out, or when such institutions require private properties for their occupation and use.
Rental Valuation of Government Quarters - Under the provisions of Sec 5.6 and 7.2 of Chapter XIX of Establishment Code, The department fixes Economic Rents as concessions to occupiers, who are government servants, and Penal Rents.
The department carries out Assessment and Re-Assessment of properties in all other local authorities of the country, except of the Colombo Municipal Council, for levying of Local Rates (Local Taxation) and also assists such Local Authorities in determination of objections made in respect of such assessments by aggrieved ratepayers.
The Council, with the approval of the Chief Valuer, fixes the annual value of crown properties within the Colombo Municipal Council Limits.
General public are advised to contact The Institute of Valuers for their various valuation purposes,at the address;
The Institute of Valuers of Sri Lanka Room No.5, Professional Centre Organization of Professional Association No.275/75, Stanley Wijeundara Mawatha, Colombo 7 (Tel 011-2504699)
Assisting Courts of Law and various other Tribunals, those hear and determine compensation disputes, by leading expert evidence are done by the department, where officers of the Department represents the Chief Valuer, in Rent Boards except those within Colombo Municipal Council limits, in addition.
The department provides advisory services in the spheres of valuation & property management and in promoting professional skills.
The Department undertakes valuations of Public Enterprises for purposes of re-structuring etc. at request of the General Treasury.
Valuation for Purposes Under Bribery Act
The Department performs valuations for purposes of Bribery Act, and assists Commissioner of Bribery, under the provisions of Sec. 23 (1) of the Bribery Act.