Dear Mohit, I am waiting for the copies of the empanelment letters... in the meantime,
I have no idea what should be the correct fees / reasonable fee / Fair Fee, hence in absence of my clear understanding about fees level, I have based my reasoning on National Act formulated under due process of Law and amended time to time based on changed requirements.
The charges prescribed under latest notification of Govt of India Ministry of Finance Dtd 30-01-2010, Section 8C. (1) reads as follows: Subject to the provisions of sub-rules (2) and (3), the fees to be charged by a registered valuer for valuation of any asset shall not exceed the amount calculated at the following rates...
as against that, you claim they are the minimum charges payable, which is erraneous, and conflicting with your own statement that you
I am doing valutation since many years and read above said notification so do understand that it says fee shall not exceed the amount calulated at the following rates__
i.e. for amount above Rs.55,00,000/- @ 0.05% .
Having said that it is my suggestion and demand / claim to replace word shall not exceed with shall be minimum. and that is the reason i am regulary posting my concern on this web site as well as write letters to various departments and present papers in seminar about code of conduct.
Also, the idea is to generate the maximum fees for the valuers, for which removal of cap on maximum fees is essential. for this to be done effectively, in line with the norms of the CDC and international consultancy trend, consultancy charges marginally reduce with increased quantum of work. please note that they do not affect the lower range even marginally. in fact, if you look closely at the new amendment, you will realize that the fees in the higher strata has already been rationalized slightly, which was essential.
You have suggested that it is in line the CDC ( I do not know full form of CDC) and international consultancy trend,consultancy charges marginally reduce with increased quantum of work
Can you suggest me please how do you know what is internationaly consultancy trend ?
How international consultancy trend applicable in India ? Does entire world has same living conditions, taxes, cost of living, security, heath and education funded by goverment, pension, socieal security, professional hazard etc. etc.
I live in Inda categorically in Mumbai, so my fees will be based on Mumbai conditions and not what some one do in Caneda or Australia. I have to run my company and pay all the liabilities in relation to my firm, so even if it very goof education and meanigful to learn good points of such tends in valuation fees, however may not be exactly applicable to our situations.
That is the reason not to stress too much of brain i have suggested that words fee shall not exceed should be replaced with word fee shall be minimum that might solve major issues like negotiations of fees on lower side.
Now you want to suggest that for increased quontum of work fees even below 0.05% by following some international consultancy trends, I am sure no one will stop you to do that You may pass on such rebates to your client after raising full amount Invoice.
However,I am not very happy to know from your posting, that you are suggesting to reduce the fee structure, even what is already agreed by Goverment of India in act of parliament. What i felt is also much less compared to today's cost of living in metros of India.
Because it is your last post this my last post as well in response to this link.
this is my last post on this topic, for we both have better things to do. if you can understand, it is fine. if you cannot, you can still continue with your ranting... (like arnab goswami... where i genuinely wonder why do people agree to appear, considering his unpreparedness to hear what the other person has to say - i earnestly hope that does not apply to you)