The President /Vice presidents/G-Secretary/IOV
M P Abraham IRSE (Retd)
Chairman IOV Branch Kochi
I am reproducing the circular recently issued by the SBI Kerala Circle for information and necessary action.
In fact in the order communicating the panel list, a separate fees structure was given and I was asked to accept it before finalising the panel. I accepted and I was included in the panel for the year 2012. The feeT rates of 1957 with Maximum fixed at Rs. 10000/. This letter was dated 05.12.2011
Now it is surprising to see that another circular dated 27.12.2011 was issued to all the branches to follow . The rates shown in this circular are entirely different from the accepted rates . Kindly take action in this unpleasant situation created by the SBI Kerala Circle in the payment of legitimate fees to the Registered valuers.
CIRCULAR NO. CIRFO/CP&RR/061/2010-11 DATED 27TH DECEMBER 2011
Valuation of Assets
Fresh Empanelment of Valuers
Revised Fees Structure.
A fresh panel of valuers for valuation of movable/immovable properties hypothecated/pledged/mortgaged to the bank has been approved by the committee constituted at LHO for the purpose. The list which has also been uploaded on the LHO's website under the department of Credit Policy & Risk rating (CP&RR) is enclosed. All our offices/Branches in the Circle are advised to engage the valuers only from this list henceforth, treating the existing panel as scrapped with immediate effect.
2. The empanelment has been done in 3 categories Viz. Land & Building (L&B), Plant & Machinery (P&M) and Agricultural Land. From the applications received by us for empanelment, we have noticed that some of the non-agricultural valuers are doing the valuation under both the L&B and P&M categories. We have also been approached by a few for empanelling them for both these categories. While category-wise empanelment has been done by us based on the person's academic background, we would also draw the attention of the operating functioneries to the guidelines contained in our Circular No. CIRCO/ADV/406 dated 10th March 2007 which advises that between L&B and P&M the academic background be ensured to the extent possible. The flexibility provided for in this regard may, therefore be please taken note of..
3. There are 103 valuers in the new panel, in Kasrgod, Wynad, Malappuram, Idukki and Pathanamthitta districts with only 1 or no valuer available as per the list , the requirement can be met from the nearby districts.
4. The valuer's fees structure has been revised and fixed as follows with immediate effect:
(i) Properties of value less than Rs. 50 lakhs = Rs 2,000/ borrower
(ii) Properties from 50 lakhs to below 1 crore = Rs. 2,500/ borrower
(iii) Properties from 1 crore and above = Rs. 3,000/ borrower
(iv) For execptionally large value properties, the fee may be negotiated by the Branch/operating units, but to be within a maximum of Rs. 10,000/
these rates are to be all-inclusive and no claim of expenses on account of travel,stay etc to be made. Thes rates are uniformly appicable in the Circle.
5. All other instructions and guidelines contained in our Circular CIRO/ADV/406 dated 10th march 2007 on the subject remain unchanged.
6. Please arrange accordingly.
For Chief General Manager
encl: as above