For property valuation

Querist : Anonymous (Querist) 28 January 2012 This query is : Resolved
Dear sir
I have to know about that Advocates are authorised for Property, Macchinary Valuation or not..??

Regards
Gaurav Gujrati
Law Student of Mumbai University

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ajay sethi (Expert) 28 January 2012
for property valuation advisable to take services of a valuation expert.

advocates are ideal for taking title search of property , drafting agreement , helping in registrartion of your property .

M/s. Y-not legal services (Expert) 28 January 2012
yes.. advocates are not authorized persons for value the machinaries..

-tom-

Advocate M.Bhadra (Expert) 28 January 2012
Advocate can get an query about the value of the property from the Sub-Registrar on behalf of the client.But he is not authorized to valuation of property.

Rajeev kulshreshtha (Expert) 28 January 2012
Agree with Mr. Ajay Sethi.

Sailesh Kumar Shah (Expert) 28 January 2012
Only for the purpose of calculation of stamps in transaction of property, advocate can help you. In other case you have to contact valuer.

Raj Kumar Makkad (Expert) 28 January 2012
Advocates are free style and can do any work assigned to them. It is now you have to see whether this job is fit to be given to them or not.

Querist : Anonymous (Querist) 30 January 2012
@ Ajay sethi Sir,
if Advocates draft any agreement for purpose of Valuation so he can also prepare that valuation report which valuer has inspect and also he can signed in that report..Is it fair or it is fraud ??

Querist : Anonymous (Querist) 30 January 2012
Because i have seen that so many chartered accountants are working in this field who prepare valuation report and also his sign in that report whether as for as i am considered that Chartered Accountants are also Not authorised in this field...is it legal ??

ajay sethi (Expert) 30 January 2012
is it a academic query?

generally in DRT they have list of valuers who are qualified to do valuation reportof property .

an advocate may not be the right person for the job .
As Fellows
1. The valuer must be a member of the Institute of Chartered Accountants or I.C.W.A. of India; and
2. he must have been in continuous practice as a Chartered Accountant for a period of not less than ten years.

As Associates
1.The valuer must be a member of the Institute of Chartered Accountants or I.C.W.A. of India; and
2.he must have been in continuous practice as a Chartered Accountant for a period of not less than five years.

or

have passed the examination prescribed by the Institution of Valuers, New Delhi;

or

such other examination as the Council may approve;

and

who shall in addition, satisfy the Council as to their practical experience in Valuation work. An Associate shall be eligible for fellowship after he has completed 10 years experience in valuation work.

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