Housing Development Finance Plc. (HDFC) has decided to solicit proposals and quotations from reliable and experience firms or individuals to provide valuation services for properties financed by HDFC.

SCOPE

Interested parties are invited to submit their proposals along with quotations according to the scope of work detailed below.

• HDFC wishes to enter into a service contract with the selected firm(s) for the provision of property valuation services.
• The services will cover all the islands where HDFC has or will extend its services.
• The selected firm will be required to physically inspect and value the property and submit a comprehensive report including, but not limited to the following information.
  • A description of site/property
    • Ownership details
    • Property name
    • Location identification (GEO Tag)
    • Full Address
    • Land Area (built up area & open space separately)
    • Title certificate no.
    • Current building usage vs approved drawings
  • Photos of the property inspected
  • Appraisal methodology
  • Land valuation based on fair market value and force sale value
  • Building valuation based on fair market value and force sale value
  • Overall condition of the property
  • Independent opinion of the evaluator
  • Certification of independency (disclosure)
• Valuations must be completed by qualified professionals with necessary qualification and know how to make an educated decision and wherever needed the property tools must be used to complete the tasks on hand.

SUBMISSIONS

The proposals submitted in response to request should comprise of the following information and documentation

1. Profile of the Firm (Business Registration), in case of individual ID Card 
2. Information of personal(s) to be engaged (qualification & experience)
3. Price per evaluation quoted in Maldivian Rufiyaa, inclusive of GST
4. Delivery timeline from the intimation to delivery
5. Appraisal methodology to be adopted
6. Equipment and software to be used
7. Areas or factors that will be considered in the valuation.

HDFC reserves the right to disqualify any proposal who fails to furnish the information/documents stated above.

DEADLINE

Proposals must be submitted on or before 2:30 PM on July 05, 2022, to the following address. HDFC will only respond to the successful firm.

HOUSING DEVELOPMENT FINANCE CORPORATION

4th Floor, H. Mialani, Sosun Magu,

Male, Republic of Maldives.

Tel: +960 3334666

Fax: +960 3315138

Email: [email protected]

EVALUATION CRITERIA

All proposals to be evaluated based on the following criteria

• Price (60%)

Evaluation will be based on the lowest price proposed. The lowest will score the highest and maximum score of 60%, while the remaining will be given accordingly relative the lowest quoted.

• Experience (40%)
  • Business Operation
  • Qualification and technical know-how of the engaging professionals
  • Appraisal methodology
  • Average delivery and timeline per valuation

GENERAL TERM AND CONDITIONS

1. All proposals must be submitted on or before the submission deadline specified. Proposals submitted after the deadline will not be entertained.
2. All proposal submitted in response to request should have a validity of 45 (forty-five) days from the date of submission.
3. HDFC may decide to select and retain one or more valuators.
4. Initial term of contract will be for 24 months, subject to further renewals based on performance.