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Practising Valuers Association (India)
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Regd. Office- 307, Best Commercial Complex, Best Building, Andheri, [w] Mumbai-400 058
For all Correspondence-1, Prospect Chambers, Near G.P.O., opp. Bhalekar School , Trimbak Road, Nashik-422001
Email- pvaiorg@gmail.com, anupmohabansi@yahoo.co.in
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Date- 8th June 2009
Dear Members,
Sub: Uniform Policy, Standards and Procedures for Real Estate Valuation’ for all banks to follow
The Indian Bank Association, and National Housing Bank, has appointed nodal agency to School of Planning and Architecture (SPA), [Prof. P S N Rao,] New Delhi for Uniform Policy, Standards and Procedures for Real Estate Valuation’ for all banks to follow henceforth.
Practising Valuers Association India has taken keen Interest to support the project.
Draft copy prepared by Prof. P S N Rao, School of Planning and Architecture (SPA), New Delhi, has taken major part of Indian Valuation Standards.
PVAI have attended the meeting with Indian Bank Association, National Housing Bank, School of Planning and Architecture (SPA), [Prof. P S N Rao,] New Delhi.
We are here by circulating to you, Draft copy of hand book
Please make your comments and send us back within four days.
At pvaiorg@gmail.com or president@pvaiorg
Because they are finalizing uniform format within a month time.
The following points [comments] are already made by the PVAI and member Institutions.
[1] Educational qualification, (Qualification as per wealth tax act 34 AB)
[2] Previous work experience ( as per Norms of wealth tax act 34 AB)
[3] Age ( Upper Limit 70 year to be removed)
[4] Scale of charges
[5] Liability of Valuers
[6] Irrational Conditions imposed by the Banks on the Valuers
[7] Time to be Given to Valuers for making Valuation Report
[8] Specific Responsibility of the Bank Manager & The Valuers
[9] Procedure for Conflict Resolution.
[10] Service Tax ( up to 10 lac it is not applicable so not binding ]
[11] Plant & Machinery Valuers are to be included.
We are waiting for your suggestions
With Kind Regards
Anup A. Mohabansi Jagdish K. Gadkari
(President) (Secretary)
