Questions raised over valuation dropping Gupta's property price in S. Africa

An objection has been lodged over an error on the 2013 property valuation of a property owned by the well-connected Indian family in Johannesburg.

Spokesperson Kgamanyane Maphologela said the City objected to valuations on four out of 14 properties belonging to the Gupta family.

According to news 24, Maphologela was responding to a report in the Saturday Star that one of the properties' value dropped from 16.8 million rand on the 2008 valuation roll to just 490 000 rand this year.

Maphologela said in a statement the city's general valuation documents were freely available for public viewing to ensure transparency in the process.

He said that the 14 properties owned by the Guptas and their companies had a combined value of nearly 207 million rand up 20 percent from the 2008 valuation of more than 172 million rand.

According to the report, the City was confident that all known errors on the valuation roll would be corrected through processes.