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Valuational fee of various Banks
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badamsundararao



Joined: 09 Aug 2009
Posts: 123

PostPosted: Thu Jul 18, 2013 9:34 pm    Post subject: VALUER FEES Reply with quote

 Dear Friend,

           Very good compilation.Please note that in ING Vysya bank ,presently max. fees is resticted to Rs.3000.00 irrespective of higher values.

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Value Add Consultant



Joined: 17 Jun 2013
Posts: 94

PostPosted: Fri Jul 19, 2013 1:51 pm    Post subject: Re: VALUER FEES Reply with quote

[quote="badamsundararao"]

 Dear Friend,

           Very good compilation.Please note that in ING Vysya bank ,presently max. fees is restricted to Rs.3000.00 irrespective of higher values.

[/quote]

Dear Mr.Rao,

Thank you very much for giving above information. would you please explain this group what you are trying to present or inform by giving above figures ?

Please elaborate your concerns.

Thanks,

Mohit

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Value Add Consultant



Joined: 17 Jun 2013
Posts: 94

PostPosted: Mon Feb 10, 2014 1:21 pm    Post subject: Re: Valuation fee for SBBJ Reply with quote

eranandssaxena wrote:

As per order of GM (Operations) in 2008 : the fee are as under ;

For First Three Lac : 0.25% of value.

For next lacs : 0.1% of value .  with. Min. Rs.500/- & Max.Rs.5000/-

However few Bank Managers & Controllers doesn't want to pay as per order.

For Your Information, It is well defined and national fact that all the subsidiaries of SBI follow SBI Policy. Hence Valuation Fees Prescribed by SBI LHO in Maharashtra State is also applicable to SBBJ. This is for your information and action. Thanks, Mohit Mehta
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ValueAddConsultants



Joined: 27 Feb 2014
Posts: 97

PostPosted: Mon Apr 28, 2014 9:01 pm    Post subject: Reply with quote

Dear Valuers,

Banks have kept cap on fees payable to valuer.

ING Vyasa Capping of Fees - Rs.3,000/-

SBBJ Rs.5,000/-

Dena Bank Mumbai - Rs.15,000/-

Canera Bank Mumbai Rs.15,000/-

Union Bank Rs.50,000/-

DRT Mumbai Rs.50,000/-

Axis Bank Rs.25,000/-

State bank of Patiala Rs.5,500/-

Vijaya Bank Rs.7,500 now increased to Rs.10,000/- or Rs.15,000/-

Syndicate Bank Rs.25,000/-

Central Bank Rs.50,000/-

BOI South Zone as per Wealth Tax Act,1957 amended up to date 2009

BOI North Zone Rs.20,000/-

UCO Bank Rs.25,000/-

Huge Variation no standardisation. On top of that every valuer has its own fee scale hence when bank appoint one valuer and second valuer independtly both will charge differnt fees even though for same reported value.

How to solve above problem collectively ? Please guide me.

For Retail Loans Valuers work at lumsum fees based on volume commitment offered by bank. What we should do if such volume not reaslied practically by valuer ?

Thanks,

Mohit Mehta

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tdsb



Joined: 19 Dec 2009
Posts: 675

PostPosted: Tue Apr 29, 2014 8:13 am    Post subject: Reply with quote

Dear friends,

My question and answer is simple.Why an organization IOV who is proud of possessing the maximum number of valuation professionals above 20000 after arriving at a consensus declare the minimum fee to be obtained by their members according to the experience and insist among the members that no member is allowed to get lesser than this and thereby improving his income over the fellow members.

Why IOV is still interested in using unprofessional and unethical self styled chairman to bring in more and more subscription of newer members and conduct seminars to woo such members to be the slaves of such an individual?

Why members are not coming out of their slumber?

By your slavery and timidness you are spoiling the whole  profession and the future career of the new entrants.

IT SEEMS THAT EVERYBODY IS INTERSTED TO PUT AN END TO THE VALUATION PROFESSION IN INDIA.

Regards

T D Suresh Babu

 

 

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ValueAddConsultants



Joined: 27 Feb 2014
Posts: 97

PostPosted: Tue Apr 29, 2014 10:20 pm    Post subject: Rs.100 per report Reply with quote

Dear TD Suresh Babu,

I think you and me should start offering service Rs.100 per report to actually reaslied thier dream of puting end to profession.

what do you say ?

 

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tdsb



Joined: 19 Dec 2009
Posts: 675

PostPosted: Fri May 02, 2014 10:37 am    Post subject: Reply with quote

Dear ValueAdd Consultants,

Sorry Sir ! There are valuers who undertake assignments  in Tamil nadu who give money or in kind like cell phones etc for the assignments granted to them and load such givings in their fees and able to get their  bills passed as their incentives speak for them.

Their valuation reports are later turned out to be totally waste for everyone concerned !

This is for your Information!

Regards

T D Suresh Babu

 

 

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ValueAddConsultants



Joined: 27 Feb 2014
Posts: 97

PostPosted: Fri May 02, 2014 1:01 pm    Post subject: Valuation and Ethics Reply with quote

Dear Mr.T.D.Suresh Babu,

Sorry in hurry i have not written proper sentense. I was trying to say that you and me should start giving our service of doing valuation and issuing report at nominal cost of Rs.100/- per assignment all inclusive to support all those valuers who are ready to work at very low fees and like to end the profession.

Such extremely low fees will be really good for client as they are happy because they will save on thier cost towards loan.

What do you say ?

 

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tdsb



Joined: 19 Dec 2009
Posts: 675

PostPosted: Fri May 02, 2014 1:26 pm    Post subject: Reply with quote

Dear friend,

I have understood correctly.For a proper report we have to stick to our standards.

At the same time our valuation profession consist of valuers who treat their clients as customers and offer all discounts, even woo them with costly gifts and sometimes state that  everything is wrong and avail a premium for their reports in black and white and such reports are invariably given by unqualified and the most ignorant valuers and later turned out to be totally waste by all the concerned and when such reports are given to me and you, the bankers expect us to provide our time and knowledge for no cost or at the low cost as you say.

Our institutions consist of  such valuers as either as their chairman or any executive commitee member and the mass doing the wrong work  supports them , votes them and nutures them.

So I request you to give a workable solution.

Regards

T D Suresh Babu

 

 

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tdsb



Joined: 19 Dec 2009
Posts: 675

PostPosted: Wed Jun 25, 2014 11:39 am    Post subject: Reply with quote

Dear friends,

There is an anomaly in SBI fee fixing. Even residential bungalows or palatial buildings or even Taj Mahal when offered as collateral security the fee is restricted to Rs.2500/- only since they will be residential property though  given security for commercial loans.

Even restricting to Rs. 10000/- for commercial or industrial purposes IS ANOTHER BIGGEST ANOMOLY.Do you expect a large industrial factory building can be valued forRs.10000/- only?This was several times pointed out by Shri. Mohit Mehta in this forum.

The time limit dictated by  the bankers is another anomaly.They want any report within 24 hours.

Friends are you all alive?!?!?

Are keeping quiet and shamelessly attending the good for nothing seminars just for the food they give AT YOUR COST?

Do you have any senses working?!?

Regards

T D Suresh Babu

 

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ValueAddConsultants



Joined: 27 Feb 2014
Posts: 97

PostPosted: Sun Jun 29, 2014 9:15 am    Post subject: SBI Offered Valuation Fees Reply with quote

Dear Valuers & TD Suresh Babu,

SBI different circle offer different valuation fees circular even though interest rate is same thought India. I do not know about salaries paid out to various staff i.e. DGM, AGM, CM etc. are same in various SBI Circle or not. However i believe it will be more or less same.

Than what makes to change different fee structure for valuation in different circle i.e. Gujarat max Rs.7500/- , Chennail Rs.10,000/-, Kerla Max Rs.10,000/-, Mumbai no capping till Dec,2013 however since Jan,2014 Rs.50,000 max.

Why such abnormalities are never discussed in National Seminar ? Why Valuer does not want to attend their common problems and issues together ?

what stops them ? is they any fear ? or they are getting some personal benefits? Hence do not want to attend the burning issue ?

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tdsb



Joined: 19 Dec 2009
Posts: 675

PostPosted: Sun Jun 29, 2014 10:26 am    Post subject: Reply with quote

Dear friends, It is all because of the local chairman. Here in Chennai the local chairman wants more and more new entrants who will be loyal to him and the Top Brass in Delhi are very happy since fresh funds are incoming. These new entrants are happy with any fees and ably the chairman gets their votes and he is living as evergreen hero. He has limited self centred vision.This shows why Chairman is struck with LKG materials in monthly meetings and seminars.HE HAS ALSO HAS THE INNER MOTIVE THAT NO ONE SHOULD COME UP MORE THAN THIS LKG STANDARD. THE TOP BRASS IN DELHI AND HIS FAITHFUL PRESIDENT INVARIABLY PRESENT HIM WITH GOLD MEDALS IN EVERY OCCASION. When this will end?!?! REGARDS T D SURESH Babu
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tdsb



Joined: 19 Dec 2009
Posts: 675

PostPosted: Fri Jul 11, 2014 6:04 am    Post subject: Reply with quote

Dear friends, Recently I had completed an assignment for SBI Chennai consisting of an house with three floors with three different occupants with a value of Rs1.75 Crores. The Assistant General Manager says the fees is only Rs.2500/-It was referred to LOCAL HO. THE GM also states that they do not want any experienced or senior person to do their valuation and they want only fresher who can give valuation reports within two hours and help according to their needs. The CGM secretariat says that the National President of IOV and the local chairman of IOV Chennai had discussions and finalised the fees of the great Rs.2500/- per assignment and also agreed for the encouragement of only freshers. I asked them to give back my Report and go ahead with the arrangement between IOV and SBI Chennai. I too WISH THE FRESHERS! who are happy with their fees! THIS IS FOR THE INFORMATION OF ALL THE VALUERS IN INDIA Regards

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ValueAddConsultants



Joined: 27 Feb 2014
Posts: 97

PostPosted: Sat Jul 12, 2014 4:33 pm    Post subject: Valuation and Ethics Reply with quote

Dear TD Sureshbabuji, Thank You Very Much for such vital information. Now on-wards to we will act as a fresher as fresher has more demand in Bank and erase our experience. Also go back to drawing board to verify and find out that is it possible to work at Rs.2,500 as promised and confirmed and arranged by some well know personality with bank.

If we find that it is not possible to work at Rs.2,500/- for assignment value Rs.1.75 Cr. please advice what i need to do ?

Also please advice if some one has ability to work at Rs.2,500 for the assignment he or she will get assignment regularly on daily basis or onces in a year. what type of written commitment bank will give.

Also please advice will all the empaneled valuer on SIB who are ready to work at Rs.2,500/- will get the work on continuous basis or only one person will get work continuously.

Also please advice if one of the valuer who are ready to work even less than Rs.2,500/- than who will get the work ?

Also please advice if one valuer who has already accepted assignment at Rs.2,500/- and than in spite of six months follow up if he did not get the fees than what he has to do ?

Also please advice if one valuer who has completed assignment and reported value comes less than expected value of Rs.1.75 cr. so he has been threaten by borrower's loan agent that he will not get fees and he will be depaneled and black listed from the panel what he has to do ?

Kindly get all the advice from such well know valuer in addition to valuable  information you have passed to us.

If we get your advice it will help in understanding how to practice in this environment where there is not rules and regulation and only law of forest.

Thanks,

Mohit Mehta

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tdsb



Joined: 19 Dec 2009
Posts: 675

PostPosted: Sat Jul 12, 2014 8:31 pm    Post subject: Reply with quote

Dear VAC, The bankers dictate that they want a report with your seal for the value they are comfortable and for Rs.2500/ per report. They will prefer if somebody is sent by our "BODY_SELLER" for any amount say even Rs.100/- or more so with a valuer who will remit Rs. 100/ per report to the bank and "some body" is willing obeying the local boss even for this. Once one report is given he joins our failurer' s club and the BODY SELLER goes in search of new FRESH BODIES. NEW FRESH BODIES are always preferred by brokers! Regards
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