A professional property valuer told the High Court here on Monday that the RM6.5mil price tag on former Selangor Mentri Besar Dr Mohd Khir Toyo's house and land was an unreasonable figure.
Iramy Ahmad, 48, testified that as a valuer, the RM6.5mil figure was too high' for the two plots of land and a bungalow.
The witness, who was examined by defence lawyer Datuk Jahaberdeen Mohamed Yunoos, said his firm Irhamy & Co had used the comparison method in valuating the properties in 2005 and came up with a RM4.3mil figure.
He said he had visited the house just after its completion and the bungalow was already occupied.
Iramy is the fourth defence witness testifying in the trial of the 45-year-old Dr Khir, who is charged with knowingly purchasing two pieces of land and a bungalow in Section 7 here at a much lower price than its original value from Ditamas Sdn Bhd director Shamsuddin Hayroni in 2007.
The property was purchased at RM3.5mil although Ditamas had bought it for RM6.5mil on December 23, 2004.
Dr Khir allegedly committed the offence at the Selangor Mentri Besar's official residence on May 29, 2007.
When cross-examined by deputy public prosecutor Mohd Dusuki Mokhtar, Iramy agreed that to enable comparison method, similar properties must be used as variables.
Mohd Dusuki: But there is no definition of similar properties'?
Iramy: Agreed.
Mohd Dusuki: But logically, similar properties would be something as close as possible' (to Dr Khir's properties) in terms of locality and the property itself?
Iramy: Yes.
The witness disagreed when it was suggested that the comparables used in his valuation was not as close as possible'.
Iramy added that there were instances where valuers need to use their own judgement of market value as there the Valuation and Property Services Department (JPPH) were late in relaying data to use as comparables.
“Back then, if the data was meant for December, it would only be processed five months later. This is where you need to use your own judgement for market value.
“But now the process is much faster,” he said.
The hearing continues Tuesday
Source : The Star
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