The ever-increasing compliance in Valuation reports desired by our largest clients, i.e. banks have led the Valuers being asked to include many inputs and provide certain information which hitherto were considered beyond the scope of Valuation and some of it are still resisted by Valuer fraternity, for example, asking for Valuer’s comments on Title deeds of properties under valuation. Therefore, it becomes all the more important for the Valuers to join the annual seminar as well as the monthly webinar to get updated regarding new developments, discuss implications thereof and offer suggestions to apprise the clients about limitations and inadequate capacity of Valuers to provide information or comments on subjects which are beyond the scope of Valuation. Considering the need of our members, our association arranges National Seminar as well as Monthly webinar on second Saturday of each month in which valuers of different part of Country participate. Senior officers of Banks and Income Tax department are also invariably invited as Chief Guest. The aim of our association is to strengthen the valuation profession, upgrade the knowledge of our Valuer Members and sort out some common concerns amongst the valuers and banks/Financial Institutions. With your continued support, our strength is increasing and I am sure, it will continue to do so. The association, through its members, is however making all efforts for ensuring higher credibility of the valuation reports to enable our clients to take informed decisions in pursuit of their business.

We have been taking up several issues including ONE NATION ONE FORMAT of Valuation Report – whereby the common format will not only help valuers to work effectively but also help a lot to Bankers. The same have been represented to Bank Authorities as well as Indian Bank Associations.

Though this would be out of place to mention but for information of our members, we have requested the Bank authorities to consider upward revision in professional fee for valuation of properties in view of the ever continuing inflation. A logical review for professional fee for valuation of machinery and equipment is utmost desirable as the Value linked professional fee becomes an undesirable barrier. The fact remains that value of machines falls at a fast pace whereas the effort for its valuation in used condition becomes higher than that of a new machine.

Shouldn’t the Banks consider fixing fee for machinery valuation in accordance with replacement cost, as sometimes the fair value becomes 10 – 15% of replacement cost of new machine.

We are also requesting the Banks to make the receipt of valuation reports and processing of bills of professional fee similar to an online queue at Bank’s website, whereby the bills raised by valuers are processed in a time bound schedule, and valuer remains aware of his status in queue.

We are also not ignorant of the issues the Banks have with the Valuers and would appreciate a frank dissemination of their concerns in the seminar to enable us to grasp it and ensure the better satisfaction of banks.

The above requests, notwithstanding, and expected views from Bankers, let us take this opportunity to get going with the scheduled events of seminar and enjoy the sharing of knowledge amongst us.