Valuational fee of various Banks

[anildhope]

Valuational fee of various Banks

[avmanjunath]

Mr Anil dhope

In my opinion the banks can categorise the valuation fee in regarding to the retail lending,medium scale enterprise and for corporates and can be alloted to the valuers based on their experience similar to the one in surveyors fixed by IRDA  so that there will not be any confusion and valuers will not be mis guided

Thanking you

A.V.MANJUNATH

BANGALORE

 

[suchdevs]

[quote="anildhope"]

Valuational fee of various Banks

[/quote]

thank you for sharing the information

[mraghavaiah]

[quote="anildhope"]

Valuational fee of various Banks

what is fee structure for valuation of properties pertaining to State Bank of Bikener and Jaipur.

Thanks & Ragards,

D.Mohan Raghavaiah,

Hyderabad

 

[suchdevs]

dear shri raghavaiah ji,

we are on the panel of valuers of sbbj since almost a year now.

to start with, we only have been included in their panel, they have not communicated / taken acceptence for any presecribed charges from us. when i tried meeting the branch manager a few times, i realized he was not keen to work 'with us'. even in reply to requests to provide details of charges being paid, he merely said i will inform you everything when there is a case... so no info available. thereafter i have not bothered him.

just sharing my experience on the forum...

[eranandssaxena]

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.

[shahconsultant]

dear valuars,

here we just talk and discuss a lot about procedure & fees of diffrent banks & institutions, is this discussions made any impact on the desison making bodies of banks? is there any change happaned ? have they considered out requests / apeals ? i didn't see any thing changed in their approch towards valuars. Even well talked Hanbook is also red-tapped, just talking & discussing here in forum is not seems suffciant. As our problems and requirests are genuine, seniors shall talk to governing bodies of diffrent banks, govt. bodies, Resorve bank to find solution as seneors have developed very good contacts with diffrent bodies and have deep & practical knoledge for valuation, also can spare little time for this, so please seniors do some thing which will be result making.  

[inside450]

These will relly helpful.

[inside450]

Is there any update for the same?

[Value Add Consultant]

[quote="shahconsultant"]

dear valuars,

here we just talk and discuss a lot about procedure & fees of different banks & institutions, is this discussions made any impact on the decision making bodies of banks? is there any change happened ? have they considered out requests / appeals ? i didn't see any thing changed in their approach toward valuers. Even well talked Hanbook is also red-tapped, just talking & discussing here in forum is not seems sufficient. As our problems and requires are genuine, seniors shall talk to governing bodies of different banks, govt. bodies, Resorve bank to find solution as seneors have developed very good contacts with different bodies and have deep & practical knowledge for valuation, also can spare little time for this, so please seniors do some thing which will be result making.  

[/quote]

Dear Mr.Shah,

Your questions and logic is genuine. However let me ask you whom you are considering senior ? whom you are addressing your questions ? Most of the senior whom you assume as senior are really junior they are happy to work in a fee range of Rs.500 to Rs.1500 per assignment. They have no time,energy,courage,intelligence,contact or willingness to do any changes.

Even if some one has they failed in the attempt due to two major reasons 1) Banks are not willing to listen as they have no compulsion from their higher authorities. There sole reason to appoint valuers is to make them scape got.

2) Due to lack of unity among valuers even if authorities willing to pay better fees, valuer goes there and negotiate his/her fees with them and offer heavy discount which tempt them to ask for discount and pay very less fees.

Hence do not depend on such senior rather you become activist like me and try to influence authorities and valuer brothers by educating them benefits of professionalism and ethics in the work.

A day will come when valuer will awake from their sleep and like to get united and follow same fee structure and do competition among-st each other to produce better quality reports.

Hope i have answered your post.

Regards,

Mohit Mehta

[Arjun Tolani]

Dear  Valuers

In my openion if all valuers become unite and charge  their  fees  as  per norms  of  CBDT. The  banks will be bothered  to  accept.  However  we  should  negotiate  up  to  reasonable  limit  if  amount  is  paid  to  us immediately.  At  present  valuers for the sake  of  their  bread  and  butter  compromise  with the banks up to bottom level. At present  banks  call  valuers and offer  them 10 to 15 NPA  cases  at a time @  Rs 600 to 800 per case. So new and  unexperienced  valuers feel  them  lucky  and  compromise  with  their dignity. What  I have written is real and practical.  That  is why  few days back I  suggested  IOV  that  only FIV and  experienced  valuers should be allowed to do this noble work independantly. Kindly give further suggestions in this respect.

Arjun Tolani

FIV, Govt Registered  Valuer &  chartered  Engineer.

 

[djagan1949]

Dear Members,

Banks use only empanelled valuers for their job. They select the valuers according to the level and volume of work to be done with speed accuracy and quality. Freshers also need work for them to survive and gain experience to fill our vacancy in future. Dignity is in our dependance and adopting good valuation practice only

Regards

Vr. D. Jagannathan

[tdsb]

 Dear Mr. Jagan,

There are three facts involved in the subject:

1.There is no bar on the basis of junior/senior existing/proposed by any bank as they are NOT CAPABLE SO FAR  to spell out what the areas to be covered i.e., scope of the valuation for any particular valuation assignment to any valuer.

2.There is no bar from the income tax department based on junior/senior.

3.There is no bar among the valuers themselves or by IOV existing,

Hence there is no point in crying about the Junior or Senior and in fact no individual valuer can prevent / preventing another valuer in taking up assignments except he is a chairman of IOV.With the card of chairman of IOV  he is allowed to do such things by honourable members like you and "This is ethically wrong".Chairmen are meant for serving the members atleast in a professional organization like IOV and not to boss over the members both juniors as well as seniors and misrepresent the interest of any ONE of the members.

MR. Jagan pl understand the situation and try not to dilute the gravity of situation by applying butter and ghee which will make the fire more ferocious.

Regards

 

[Value Add Consultant]

Dear Valuers,

By giving stupid logic since last many years you are neither able to do good for fresher valuer, or senior valuer or middle valuer or IOV or bank or customer or any body.

Be firm what you want to achieve ?

Keeping proper renumeration structures for professional and asking proper standard work is not a crime. That is very basic fundamental. By giving various excuse and reasons you can not justify wrong doing.

If proper renumeration are fixed banks will get better quality report from senior valuers. Fresher can assist to senior valuer by getting proper reasonable renumeration and start their own when get proper expertise to advice bank own their own.

This is the system prevails in every profession in every country except in India in Valuation profession. Any one go to bank and work at any fees and there are no punishment rather appreciation and awards given to such person.

Valuer do not work for low fees for their survival or because they are fresher. However they work at low fees to get the work irrespective of their status i.e. junior or senior.

In case you do not ban such practice level of professionalism and quality will go down and down every day. This will lead to death of valuation profession in India. Hence all the senior valuers, should think on this issue even though they like it or does not like it. If they are in favor of IOV management or against IOV or any other body of valuation profession.

This is a fundamental issue and no one should keep it under carpet. Rather it should be burning issue and a spacial general body meeting should be immediately called upon. All the suggestions should be obtained and framed in guild-line book.

However current practice should not be allowed at all. It may be Chairman or ordinary member or non member any one.

I request you all to urgently cater on the subject and get united and frame common agenda and common resolution on which we can depend upon. Valuation profession should not be considered as easy trial profession where in any one can entre and try their luck without adequate skills by doing low fee compitiotions. Rather then proper standards should be kept so that proper and adequatly skilled and experienced person can enter in the profession, which will rather harming others interest by doing fee compitions keep himself busy in compliting assignment and earning money.

Thanks,

Mohit Mehta

[tdsb]

Dear friends,

You are all paid members of a professional organization.You all elect a group of people for what!?!?!?The leader of the group you name him as the chairman?!?In the past ,that is till a decade back,  the chairman  used to be  a facility manager for deseminating knowledge conducting seminars and workshops. Nowadays political based  persons showing muscle power and number power and their capacity to mobolise funds for get togethers have been given the post of chairman by you.The distance between knowlege or vision and these people are the distance between the North Pole and South Pole.

With the card of chairman they talk like brothers to the new entrants and mobolise votes and  funds in the meetings and when they represent to the  Bank officials ONLY HE THE CHAIRMAN gets the lion's share and sometimes the secretary lioness and other  babies the so called "executor" commitee members do get some pieces of meat. THE CHAIRMAN VERY BOLDLY declares that he is" The Seniormost "and the most experienced valuer in the closed doors of the bank officials.

My basic doubt is whether any single chairman can have his own rules and fantasies and implement them and force every member to worship him as a fanatic,THAT TOO when there is no such rules framed or formed in the mother organization IOV.

regards

Here is a case, the intelligent mass selects a muff as their leader to serve them and later worship him as a hero like fanatics and spoil their future.