ABSTRACT

This study focuses on an appraisal of valuation methods used for compensation and acquisition purposes. The objectives of the study were to assess the valuation methods employed, examine claimant acceptability of compensation payable, and identify problems associated with these methods. The findings reveal that statutory methods are predominantly used for valuation, accounting for 100% of the cases studied. However, the study also highlights a high level of dissatisfaction among claimants regarding the compensation amounts, with 69.62% perceiving the compensation as very poor. Additionally, the study identified two main problems with the valuation methods: the lack of consideration for property characteristics and potential subjectivity to valuers findings. Recommendations for improvement include diversifying valuation methods, enhancing transparency and consistency, engaging stakeholders, and implementing continuous monitoring and evaluation. This study contributes knowledge to the field by providing insights into the prevalent use of statutory methods and the need for improvements in the valuation process for compensation and acquisition. Further research is suggested to explore the underlying reasons for claimant dissatisfaction and to compare the effectiveness of different valuation methods in various contexts. The findings underscore the importance of addressing these challenges to ensure fair and accurate compensation amounts that meet the needs and expectations of claimants and property owners involved in the compensation and acquisition process.