In India, official valuation for sale purposes is conducted by certified professionals and government authorities to ensure accurate and legally compliant property assessments.
1. Registered Valuers
Registered Valuers are professionals certified by the Insolvency and Bankruptcy Board of India (IBBI) under the Companies (Registered Valuers and Valuation) Rules, 2017. They specialize in asset classes such as land and buildings, plant and machinery, or securities and financial assets. Registered Valuers are responsible for providing impartial and accurate valuations that are legally recognized. Their assessments are crucial for various transactions, including sales, taxation, legal disputes, and financial reporting.
2. Government-Appointed Valuers
Government-appointed valuers are officials designated by relevant government departments to conduct property valuations, particularly for purposes related to taxation, land acquisition, and other official requirements. These valuations ensure equitable tax assessments and fair compensation in cases of land acquisition.
3. Sub-Registrar Offices
Sub-Registrar Offices, operating under the respective State Governments, play a pivotal role in property registration and valuation. They maintain official records and provide certified copies of land rates, ensuring transparency and legal compliance in property transactions.
