Government Approved   |     Corporate Valuers     |    Chartered Engineers

  FAQ

Some of the Frequently Asked Questions:

What is Value ?
Amount of commodity, money etc. consider equivalent for something else, material monetary worth, desirability, utility, qualities on which it depends. Value is the actual worth of a particular object Value for which a willing seller will part with the land in favour of willing buyer, Value is an estimate of the cost of a commodity on certain date depending on its utility, scarcity, transferability and marketability.

What is Valuation?
Valuation is an opinion of an expert, who assesses the value of an asset. His assessment depends on the purpose for which the evaluation is sought, his honest judgment and the most important factor - his experiences.

Who is a Valuer?
The one who estimates or assesses the value professionally. He is an expert in his field. He is authorized to declare the worth of a particular commodity, may be it property/machine/gold or any other item. The license to act is issued by Chief Commissioner of Income Tax. The main categories under which the license is issued are:

Immovable Properties
Agricultural Lands
Plantations - Coffee, Tea, Rubber, Cardamom, others.
Forests
Mines & Queries
Stocks, Shares, Debentures, Securities
Plant and Machinery
Jewellery
Works of Arts
Life interest, reversion and interest in expectancy

Who is a Chartered Engineer?
A Chartered Engineer is a member of Institution of Engineers (India). The Institute grants him certificate to act as "Chartered Engineer" based on his academic qualification and experience. Importers and Exporters require their services to certify the value of Goods/Equipment/Plant for Custom/Duty drawback/excise purposes.

Who is a Surveyor/Loss Assessor?
Surveyor is a person who assesses the losses of insured assets in the event of a mishap/loss for settling the claims. The License is issued by the Controller of Insurance based on qualification and experience of the person.

Who are the Clients/Users?
Chartered Accountants, Banks, Financial Institutions, Property Sellers/Buyers, Public and Private Limited Companies, Owners of factories, plant and machinery, land, house, apartment, car, jewellery, stocks and shares or other asset(s).

Consultantions, valuations and associated technical services for matters concerning
Immovable Properties
Agricultural Lands
Plantations - Coffee, Tea, Rubber, Cardamom, others.
Forests
Mines & Queries
Stocks, Shares, Debentures, Securities
Plant and Machinery
Jewellery
Works of Arts
Life interest, reversion and interest in expectancy

The Process of Valuation and the sequence

1. Understanding the purpose of Valuation.
2. Collection of required documents and information
3. Site Inspection and collection of field data.
4. Analysing the information/field data collected.
5. Assessment of the value of the asset(s) based on facts, market rates and experience
6. Produce a valuation report detailing the facts and assessment made,
issue a certificate of valuation.
7. Proper guidance to the client.

Who requires Valuation Reports ?
A Valuation report becomes necessary to know the certified market value of an asset for serveral reasons (Sea Purpose of Valuation)

01. Individuals
02. Industrial Concerns
03. Private Companies
04. Public Sector Undertakings
05. Financial Institutions: Small Industries Development Corporation,
Medium Scale Industries, corporation, Industrial Investment
Corporations owned by the State Government, UPFC, etc.
06. Private and Public Sector Banks
07. Owners of all types of Assets: land, house, flat, apartment, shop, etc.
08. Insurance Companies.
09. Courts
10. Government Departments: Income Tax, Wealth Tax, Municipal
Corporation etc.
11. Visa issuing offices of various countries allowing immigration/travel.
12. Reserve Bank for repatriation of foreign exchange

Who is a Professional ?
Professionals are qualified and experienced intellectuals, expert in the field of valuation. Basic qualification could be any one of the following:

1. Civil Engineers
2. Electrical Engineers
3. Mechanical Engineers
4. Engineers from other disciplines
5. Architects
6. Chartered Accountants

For practising as Valuers, professionals are required to be registered and approved by Central Board of Direct Taxes, Government of India. Once approved, they are known as "Approved Valuers" or "Government Approved Valuers". They are registered under various categories.

Government Approved Valuers are required for valuation of all types of assets for variety of reasons or purposes by various agencies.

Purpose of Valuation ?

01. Capital Gain Assessment
02. Wealth Tax Assessment
03. Court Fee Calculation at the time of "Title Change" / Sales Purchase of an Asset.
04. Partition of family assets
05. Partition of business enterprises.
06. New Public Issues.
07. Mortgage /Collateral Security for banks, financial institutions.
08. Sale-Purchase
09. Mergers and Acquisitions
10. Subsidy claims
11. Revaluation - Updating the balance sheet.
12. Insurance
13. Court Fee Calculation at the time of "Title Change" / Sales
14. Purchase of an Asset / other matters concerning the asset.
15. Auction.
16. Taxation.
17. Liquidation of an asset or business
18. Repatriation of foreign exchange against sale of an asset.
19. Issue of travel/immigration Visa.
20. Rent Fixation under Rent Control Act.
21. Insurance
22. Income Tax
23. Property Tax

What is an Asset ?

  • Lands

  • Immovable Properties : All types of Buildings: house,flat, apartment, cottage, commercial complex, office, shop,industries, etc.

  • ?Plant and machinery

  • Jewellery

  • Works of Arts

  • Plantations - Coffee, Tea, Rubber, Cardamom, others.

  • Forests

  • Mines & Queries

  • Stocks, Shares, Debentures, Securities

  • Plant and Machinery

  • Jewellery

  • Life interest, reversion and interest in expectancy

  • All types Motor Vehicles

  • Ships

  • Aeroplanes

 

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