Appendix-I

Appendix-I: FORMAT OF VALUATION REPORT FOR ALL IMMOVABLE

PROPERTIES

S.No. Particulars Content

I. Introduction
1. Name of Valuer
2. Date of inspection
Title Deed Number and Date
Date of Valuation
3. Purpose of Valuation
4. Name of Property Owner/s
(Details of share of each owner
in case of joint & Co-ownership)
5. Name of Bank/FI as applicable
6. Name of Developer of the Property
(in case of developer built properties)
7. Whether occupied by the owner / tenant?
If occupied by tenant, since how long?
II. Physical Characteristics of the Asset
1. Location of the property in the city
Plot No. / Survey No.
Door No.
T. S. No. / Village
Ward / Taluka
Mandal / District
2. Municipal Ward No.
3. City / Town
Residential Area/ Commercial Area/ Industrial Area
4. Classification of the area:
High / Middle / Poor
Metro / Urban / Semi Urban / Rural
5. Coming under Corporation limit/ Village Panchayat/
Municipality
6. Postal address of the property
7. Latitude, Longitude and Coordinates of the site
8. Area of the plot/land (supported by a plan)
9. Layout plan of the area in which the property is
located
10. Development of surrounding areas
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11. Details of Roads abutting the property

12. Whether covered under any State / Central Govt.

enactments (e.g. Urban Land Ceiling Act) or notified
under agency area / scheduled area / cantonment
area
13. In case it is an agricultural land, any conversion to
house site plots is contemplated

14. Boundaries of the property A B

As per Actuals
deed
North
South
East
West
Extent of the site considered for valuation (least of
14 A & 14 B)
15. Description of Adjoining properties
North
South
East
West
16. Survey no. if any
17 Type of Building (Residential/ Commercial/
Industrial)
18. Details of the building/buildings and other
improvements in terms of area, height, no. of floors,
plinth area floor wise, year of construction, year of
making alterations/additional constructions with
details, full details of specifications to be appended
along with building plans and elevations
19. Plinth area, Carpet area and Saleable area to be
mentioned separately and clarified
20. Any other aspect
III. Town Planning Parameters
1. Master plan provisions related to the property in
terms of land use
2. Date of issue and validity of layout of approved map
/ plan
3. Approved map / plan issuing authority

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4. Whether genuineness or authenticity of approved
map / plan is verified
5. Any other comments by our empanelled valuers on
authenticity of approved plan
6. Planning area/zone
7. Development controls
8. Zoning regulations
9. FAR/FSI permitted and consumed
10. Ground coverage
11. Transferability of development rights if any, Building
bye-law provisions as applicable to the property viz.
setbacks, height restrictions, etc.
12. Comment on surrounding land uses and adjoining
properties in terms of usage.
13. Comment on unauthorized constructions if any

14. Comment on demolition proceedings if any

15. Comment on compounding/ regularization

proceedings

16. Comment on whether OC has been issued or not

17. Any other aspect

IV. Legal Aspects
1. Ownership documents,
2. Names of Owner/s
(In case of Joint or Co-ownership,
whether the shares are undivided or not?)

3. Comment on dispute/issues of landlord with

tenant/statutory body/any other agencies, if any in
regard to immovable property.
4. Comment on whether the IP is independently
accessible?
5. Title verification,
6. Details of leases if any,
7. Ordinary status of freehold or leasehold including
restriction on transfer,
8. Agreements of easements if any,

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9. Notification for acquisition if any,
10. Notification for road widening if any,
11. Possibility of frequent flooding / sub-merging

12. Special remarks, if any, like threat of acquisition of

land for public service purposes, road widening or
applicability of CRZ provisions, etc. (Distance from
sea-coast / tidal level must be incorporated)

13. Heritage restrictions if any, All legal documents,

receipts related to electricity, water tax, property tax
and any other building taxes to be verified and
copies as applicable to be enclosed with the report.

14. Comment on transferability of the property

ownership,
15. Comment on existing mortgages/
charges/encumbrances on the property if any
16. Comment on whether the owners of the property
have issued any guarantee (personal/corporate) as
the case may be
17. Building plan sanction, illegal constructions if any
done without plan sanction/violations.
18. Any other aspect
V Economic aspects
1. Details of ground rent payable,
2. Details of monthly rents being received if any,
3. Taxes and other outgoings,
4. Property insurance,
5. Monthly maintenance charges,
6. Security charges, etc.
7. Any other aspect
VI Socio-cultural aspects
1. Description of the location of property in terms of
the social structure of the area, population, social
stratification, regional origin, age groups, economic
levels, location of slums / squatter settlements
nearby, etc.
VII Functional and Utilitarian Aspects
Description of the functionality and utility of the

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 assets in terms of:

1. Space allocation,

2. Storage spaces,

3. Utility of spaces provided within the building,

4. Any other aspect

VIII Infrastructure Availability
a) Description of aqua infrastructure availability in
terms of
1. Water supply
2. Sewerage/sanitation
3. Storm water drainage

b) Description of other physical infrastructure

facilities viz.
1. Solid waste management
2. Electricity
3. Roads & Public transportation connectivity
4. Availability of other public utilities nearby

c)Social infrastructure in terms of

1. Schools
2. Medical facilities
3. Recreation facilities in terms of parks and open
spaces.
IX Marketability
Analysis of the market for the property in terms of

1. Locational attributes
2. Scarcity
3. Demand and supply of the kind of subject
property.
4. Comparable sale prices in the locality.
X Engineering and Technology Aspects
1. Type of construction,
2. Materials and technology used,
3. Specifications,
4. Maintenance issues
5. Age of the building
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6. Total life of the building,
7. Extent of deterioration,
8. Structural safety
9. Protection against natural disasters viz.
earthquakes,
10. Visible damage in the building if any,
11. Common facilities viz. lift, water pump, lights,
security systems, etc.,
12. System of air-conditioning,
13. Provision for firefighting,
Copies of plans and elevations of the building to be
included.
XI Environmental Factors
1. Use of environment friendly building materials,
Green building techniques if any,
2. Provision for rain water harvesting,
3. Use of solar heating and lighting systems, etc.
Presence of environmental pollution in the vicinity of
the property in terms of industries, heavy traffic, etc.
XII Architectural and aesthetic quality
1. Descriptive account on whether the building is
modern, old fashioned, etc., plain looking or with
decorative elements, heritage value if applicable,
presence of landscape elements, etc.
XIII In case of valuation of industrial property
1) Proximity to residential areas
2) Availability of public transport facilities
XIV Valuation
1. Here, the procedure adopted for arriving at the
valuation has to be highlighted.
The valuer should consider all the three generic
approaches of property valuation and state explicitly
the reasons for adoption of / rejection of a particular
approach and the basis on which the final valuation
judgement is arrived at.
A detailed analysis and descriptive account of the
approaches, assumptions made, basis adopted,
supporting data ( in terms of comparable sales ),
reconciliation of various factors, departures, final
valuation arrived at has to be presented here.

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As a result of my appraisal and analysis, it is my considered opinion that the present
market value of the above property in prevailing condition with aforesaid specifications is
Rs. _________ (Rupees ______________ only). (Prevailing market rate along with
details /reference of atleast two latest deals/transactions with respect to adjacent
properties in the areas. The reference should be of properties/plots of similar size/area
and same use as the land being valued). The other details are as under:
i. Date of purchase of immovable property:
ii. Purchase Price of immovable property:
iii. Book value of immovable property:
iv. Realizable Value of immovable property:
v. Distress Sale Value of immovable property:
vi. Guideline Value (value as per Circle Rates), if applicable, in the area where
Immovable property is situated.
vii. Value of property of similar nature in the same locality drawn from any one of
the popular property websites such as Magic bricks, 99 Acres, Housing NHB
Residex, etc.

Place:
Date: Signature
(Name and Official seal of
the Approved Valuer)
Encl:
1. Declaration from the valuer
2. Model code of conduct for valuer
3. Photograph of owner with the property in the background
4. Screen shot (in hard copy) of Global Positioning System (GPS)/Various
Applications (Apps)/Internet sites (eg. Google earth)/, etc
5. Layout plan of the area in which the property is located
6. Building plan
7. Floor plan
8. Any other relevant documents/extracts

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 Appendix-II

Appendix II: FORMAT OF VALUATION REPORT IN RESPECT OF FLATS

S.No Particulars Content

.
I. GENERAL
1. Name & address of the Valuer
2. Purpose for which the valuation is made
3. a) Date of inspection
b) Title Deed Number and Date
c) Date on which the valuation is made
4. List of documents produced for perusal
i)
ii)
iii)
5. Name of the owner(s) and his / their address
(es) with Phone no. (details of share of each
owner in case of joint ownership)
6. Brief description of the property
7. Location of property
a) Plot No. / Survey No.
b) Door No.
c) T. S. No. / Village
d) Ward / Taluka
e) Mandal / District
f) Date of issue and validity of layout of
approved map / plan
g) Approved map / plan issuing authority

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S.No Particulars Content
.
h) Whether genuineness or authenticity of YES / NO
approved map / plan is verified
i) Any other comments on authentic of
approved plan
j) Comment on unauthorized construction
if any
k) Comment on demolition proceedings if
any
8. Postal address of the property
9. City / Town
Residential Area
Commercial Area
Industrial Area
10 Classification of the area
i) High / Middle / Poor
ii) Urban / Semi Urban / Rural
11. Comment on whether the society where
the flats are located is freely accessible?
12. Coming under Corporation limit / Village
Panchayat / Municipality
13. Whether covered under any State / Central
Govt. enactments (e.g. Urban Land Ceiling
Act) or notified under agency area /
scheduled area / cantonment area
14. Boundaries of the property
North
South
East
West
15. Dimensions of the site / flat A B

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S.No Particulars Content
.
As per the Actuals
Deed
North
South
East
West
16. Extent of the site
16.1 Latitude, Longitude & Co-ordinates of flat
17 Extent of the site considered for valuation
(least of 13 A & 13 B)
18 Whether occupied by the owner / tenant? If
occupied by tenant, since how long?

II. APARTMENT BUILDING

1. Name of the Apartment
2. Description of the locality Residential /
Commercial / Mixed
3. Year of Construction
4. Number of Floors
5. Type of Structure
6. Number of Dwelling units in the building
7. Quality of Construction
8. Appearance of the Building
9 Maintenance of the Building
10 Facilities Available
Lift
Protected Water Supply

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S.No Particulars Content
.
Underground Sewerage
Car Parking - Open/ Covered
Is Compound wall existing?
Is pavement laid around the Building

III FLAT
1 The floor on which the flat is situated
2 Door No. of the flat
3 Specifications of the flat
Roof
Flooring
Doors
Windows
Fittings
Finishing
4 House Tax
Assessment No.
Tax paid in the name of
Tax amount Rs.
5 Electricity Service Connection no.
Meter Card is in the name of
6 How is the maintenance of the flat?
7 Sale Deed executed in the name of
8 What is the undivided area of land as per Sale
Deed?
9 What is the plinth area of the flat?
10 What is the floor space index (app.)
11 What is the Carpet Area of the flat?
12 Is it Posh/ I class / Medium / Ordinary?
13 Is it being used for Residential or Commercial
purpose?
14 Is it Owner-occupied or let out?
15 If rented, what is the monthly rent?
IV MARKETABILITY
1 How is the marketability?
2 What are the factors favouring for an extra

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 Potential Value?
3 Any negative factors are observed which affect
the market value in general?
V Rate
1 After analyzing the comparable sale instances,
what is the composite rate for a similar flat with
same specifications in the adjoining locality? -
(Along with details /reference of atleast two
latest deals/transactions with respect to
adjacent properties in the areas)
2 Assuming it is a new construction, what is the
adopted basic composite rate of the flat under
valuation after comparing with the
specifications and other factors with the flat
under comparison (give details).
3 Break - up for the rate
i) Building + Services
ii) Land + Others
4 Guideline rate obtained from the Registrar's
office (an evidence thereof to be enclosed)
VI COMPOSITE RATE ADOPTED AFTER DEPRECIATION
1 Depreciated building rate
Replacement cost of flat with Services (v (3)i) Rs.
Age of the building
Life of the building estimated
Depreciation percentage assuming the salvage
value as 10%
Depreciated Ratio of the building Rs.
2 Total composite rate arrived for valuation
Depreciated building rate VI (a) Rs.
Rate for Land & other V (3)ii Rs.
Total Composite Rate Rs.

Details of Valuation:
Sr. Description Rate per unit Estimated
No. Rs. Value Rs.
1 Present value of the flat (incl. car parking, if
provided)

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(Valuation: Here, the approved valuer should discuss in details his approach to valuation
of property and indicate how the value has been arrived at, supported by necessary
calculation. Also, such aspects as impending threat of acquisition by government for
road widening / public service purposes, sub merging & applicability of CRZ provisions
(Distance from sea-coast / tidal level must be incorporated) and their effect on i)
saleability ii) likely rental value in future and iii) any likely income it may generate may be
discussed).

As a result of my appraisal and analysis, it is my considered opinion that the present

market value of the above property in prevailing condition with aforesaid specifications is
Rs. _________ (Rupees ______________ only). (Prevailing market rate along with
details /reference of atleast two latest deals/transactions with respect to adjacent
properties in the areas. The reference should be of properties/plots of similar size/area
and same use as the land being valued). The other details are as under:

i. Date of purchase of immovable property:

ii. Purchase Price of immovable property:
iii. Book value of immovable property:
iv. Realizable Value of immovable property:
v. Distress Sale Value of immovable property:
vi. Guideline Value (value as per Circle Rates), if applicable, in the area where
Immovable property is situated.
vii. Value of property of similar nature in the same locality drawn from any one of the
popular property websites such as Magic bricks, 99 Acres, Housing NHB
Residex, etc

Place:
Date:
Signature
(Name and Official seal of the
Approved Valuer)
Encl:
1. Declaration from the valuer
2. Model code of conduct for valuer
3. Photograph of owner with the property in the background
4. Screen shot (in hard copy) of Global Positioning System (GPS)/Various
Applications (Apps)/Internet sites (eg Google earth)/, etc
5. Layout plan of the area in which the property is located
6. Building plan
7. Floor plan
8. Any other relevant documents/extracts

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 Appendix-III
Appendix III: VALUATION REPORT (IN RESPECT OF AGRICULTURAL
LANDS)

(To be filled in by the Approved Valuer)

(Name & address of Valuer)
NAME OF THE BANK
BRANCH:
I. GENERAL
1. Purpose for which the valuation is made
2. a) Date of inspection :
b) Number and Date of ownership :
document (Pawti)
c) Date on which the valuation is :
made
3. List of documents produced for perusal
i) :
ii) :
4. Name of the owner(s) and his / their :
address (es) with Phone no. (details of
share of each owner in case of joint
ownership)
5. Brief description of the property :
6. Location of property
a) Plot No. / Survey No. :
b) Door No. :
c) T. S. No. / Village :
d) Ward / Taluka :
e) Mandal / District :
7. Postal address of the property
8. Coming under Corporation limit / Village :
Panchayat / Municipality
9. Whether covered under any State / :
Central Govt. enactments (e.g. Urban
Land Ceiling Act) or notified under agency
area / scheduled area / cantonment area
10. Is any conversion to house site plots :
contemplated?
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11. Boundaries of the property :
North :
South :
East :
West :
12. Dimensions of the site : A B
As per the Deed Actuals
North :
South :
East :
West :
13 Extent of the site :
13.a Latitude, Longitude and Coordinates of the
site
14 Extent of the site considered for valuation :
(least of 12 A & 12 B)
15 Whether occupied by the owner / lessee? :
If cultivated by lessee, since how long and
type of tenancy agreement?
16 Income received (per year) : Rs.
II. CHARACTERISTICS OF THE SITE :
1. Whether the land under consideration is :
suitable for cultivation
2. Irrigation facilities – canal / well / bore / :
rain-fed
3. Possibility of frequent flooding / sub- :
merging
4. Level of land with topographical :
conditions.
5. Shape of land :
6. Is it a Land – locked land? :
7. Whether any cottages / buildings exist in :
the Land?
8. Whether fencing and gates are arranged? :
9. General conditions of the land :
10. Quality of soil of the land :
11. Whether the land is situated on a Main / :
National Highway Road? If not, distance
from the Main / Highway Road.
12. Types of crops grown :
13. Water supply & electricity facilities. :
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14. Advantage of the site :
1. :
2. :
15. Disadvantages of the land :
1. :
2. :
16. Special remarks, if any, like threat of :
acquisition of land for public service
purposes, road widening or applicability of
CRZ provisions, etc. (Distance from sea-
coast / tidal level must be incorporated)
17. Comment on dispute/issues of landlord
with tenant/statutory body/any other
agencies, if any in regard to immovable
property
18. Comment on whether the IP is
independently accessible?

III. VALUATION OF AGRICULTURAL LAND

1. Size of land :
North & South :
East & West :
2. Total extent of the land :
3. Prevailing market rate (per acre) (Along with : Rs.
details /reference of atleast two latest
deals/transactions with respect to adjacent
properties in the areas)
4. Guideline rate obtained from the Registrar’s :
Office / Mandal Revenue office (an evidence
thereof to be enclosed)
5. Assessed / adopted rate of valuation : Rs.
6. Estimated value of land : Rs.
(Valuation: Here, the approved valuer should discuss in detail his approach to
valuation of property and indicate how the value has been arrived at, supported by
necessary calculations. Also, such aspects as i) Salability ii) likely rental values in
future and iii) any likely income it may generate may be discussed).

As a result of my appraisal and analysis, it is my considered opinion that the present

market value of the above property in prevailing condition with aforesaid specifications
is Rs. _________ (Rupees ______________ only). (Prevailing market rate along with
details /reference of atleast two latest deals/transactions with respect to adjacent
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 properties in the areas. The reference should be of properties/plots of similar
size/area and same use as the land being valued). The other details are as under:

i. Date of purchase of immovable property:

ii. Purchase Price of immovable property:
iii. Book value of immovable property:
iv. Realizable Value of immovable property:
v. Distress Sale Value of immovable property:
vi. Guideline Value (value as per Circle Rates), if applicable, in the area where
Immovable property is situated.
vii. Value of property of similar nature in the same locality drawn from any one
of the popular property websites such as Magic bricks, 99 Acres, Housing
NHB Residex, etc

Signature
(Name and Official Seal of
the Approved Valuer)

Place:
Date:

Encl:
1. Declaration from the valuer
2. Model code of conduct for valuer
3. Photograph of owner with the property in the background
4. Screen shot (in hard copy) of Global Positioning System (GPS)/Various
Applications (Apps)/Internet sites (eg Google earth)/, etc

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Appendix IV: PROFORMA FOR VALUATION REPORT IN RESPECT OF
PLANT & MACHINERY

Name of Registered Valuer: Registration No.:

(With State Commissioner of Income Tax)
S.No Particulars Content
.
1. Date of making valuation
2. Purpose for which valuation is made
3. a) Name of the owner(s) of the plant &
machinery
b) If the asset is under joint ownership/co-
ownership, share of each owner
4. Location of factory/ works/ premises
5. Date of visit/inspection
Extent to which plant was inspected
6. Description of the plant & machinery
(Separate for each major P&M)
Name of the manufacturing company
Year of making/fabrication
Model no./Sr.No./identification mark of
machine
Date of purchase
Name of the Vendor/Supplier
Original price
Country of origin
Import duties at the time of purchase
Import duties on the date of valuation
Exchange rate at the time of purchase
Exchange rate as on the date of valuation
Price to the owner where he is not the first
owner
Cost of similar new plant & machinery
Detailed list of machinery specifying major
sections, their components and makes, etc.
Rated capacity/speed of machinery by the
original manufacturer
What generation of technology is involved in
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the machinery inspected?
Whether inspection carried out to see the
machinery in operation?
Whether dry run of the machinery or another
tests were carried out to ascertain its
condition?
Date since when the machinery is not in
Operation/steps taken to keep the machinery
in good condition (to protect it from corrosion)
General condition of the machinery
Details of refurbishing/reconditioning required
to be carried out to make the machinery
operational
Estimated cost of refurbishing/reconditioning
Estimated residual life of the refurbishing
Estimated life of new machinery
Book value of the machinery
Depreciation rate
Value of the machinery
The valuer should give in detail his approach
to valuation of the plant & machinery and
indicate how the value has been arrived at
such as historical cost basis valuation
method, market price or any other method
applied (with full details of methodology
employed).
-Whether market data is limited or essentially
non-existent and state whether the estimate
is in any way limited by the inadequacy of
data.
-State clearly whether the market value
estimate is based on market evidence of
similar new machinery or upon the valuer
judgement because of the nature of the
building and lack of comparable market data.
-Any departure from the standard and the
reasons & justification for the same. The
special circumstances which warranted
departure from the established norms
-Valuation should be supported by necessary
calculations including giving effect to
technological attrition.
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 7. Realisable Value at distress sale of the plant
& machinery
8. Any other relevant information, if any.

NOTE: All questions to be answered by the Registered Valuer, if any, particular question
does not apply to the property under valuation. He may indicate so. If the space
provided is not sufficient, details may be attached on a separate sheet.

Place:
Date:
Signature
(Name and Official seal of the
Approved Valuer/Engineer)

Encl:
1. Declaration from the valuer
2. Model code of conduct for valuer
3. Photograph of owner/representative with machines

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 Appendix-IV
Appendix V: DECLARATION FROM VALUERS
I hereby declare that-
a. The information furnished in my valuation report dated ----------------- is true and
correct to the best of my knowledge and belief and I have made an impartial and
true valuation of the property.

b. I have no direct or indirect interest in the property valued;

c. I have personally inspected the property on -------------------------- The work is not

sub-contracted to any other valuer and carried out by myself.

d. I have not been convicted of any offence and sentenced to a term of

Imprisonment;

e. I have not been found guilty of misconduct in my professional capacity.

f. I have read the Handbook on Policy, Standards and procedure for Real Estate
Valuation by Banks and HFIs in India, 2011 of the IBA and this report is in
conformity to the “Standards” enshrined for valuation in the Part-B of the above
handbook to the best of my ability.

g. I have read the International Valuation Standards (IVS) and the report submitted
to the Bank for the respective asset class is in conformity to the “Standards” as
enshrined for valuation in the IVS in “General Standards” and “Asset Standards”
as applicable.

h. I abide by the Model Code of Conduct for empanelment of valuer in the Bank.
(Annexure III- A signed copy of same to be taken and kept along with this
declaration)

i. I am registered under Section 34 AB of the Wealth Tax Act, 1957.

j. I am the proprietor / partner / authorized official of the firm / company, who is

competent to sign this valuation report.

k. Further, I hereby provide the following information.

SL No. Particulars Valuer comment

1 background information of the asset being
valued;
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 2 purpose of valuation and appointing authority
3 identity of the valuer and any other experts
involved in the valuation;
4 disclosure of valuer interest or conflict, if any;
5 date of appointment, valuation date and date
of report;
6 inspections and/or investigations undertaken;
7 nature and sources of the information used or
relied upon;
8 procedures adopted in carrying out the
valuation and valuation standards followed;
9 restrictions on use of the report, if any;
10 major factors that were taken into account
during the valuation;
11 major factors that were taken into account
during the valuation;
12 Caveats, limitations and disclaimers to the
extent they explain or elucidate the limitations
faced by valuer, which shall not be for the
purpose of limiting his responsibility for the
valuation report.

Date:
Place:

Signature
(Name of the Approved Valuer and Seal of
the Firm / Company)

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 Appendix-V

Appendix VI: MODEL CODE OF CONDUCT FOR VALUERS

{Adopted in line with Companies (Registered Valuers and Valuation Rules, 2017)}

All valuers empanelled with bank shall strictly adhere to the following code of conduct:

Integrity and Fairness

1. A valuer shall, in the conduct of his/its business, follow high standards of integrity
and fairness in all his/its dealings with his/its clients and other valuers.
2. A valuer shall maintain integrity by being honest, straightforward, and forthright in all
professional relationships.
3. A valuer shall endeavor to ensure that he/it provides true and adequate information
and shall not misrepresent any facts or situations.
4. A valuer shall refrain from being involved in any action that would bring disrepute to
the profession.
5. A valuer shall keep public interest foremost while delivering his services.

Professional Competence and Due Care

6. A valuer shall render at all times high standards of service, exercise due diligence,
ensure proper care and exercise independent professional judgment.
7. A valuer shall carry out professional services in accordance with the relevant
technical and professional standards that may be specified from time to time
8. A valuer shall continuously maintain professional knowledge and skill to provide
competent professional service based on up-to-date developments in practice,
prevailing regulations/guidelines and techniques.
9. In the preparation of a valuation report, the valuer shall not disclaim liability for
his/its expertise or deny his/its duty of care, except to the extent that the
assumptions are based on statements of fact provided by the company or its
auditors or consultants or information available in public domain and not generated
by the valuer.
10. A valuer shall not carry out any instruction of the client insofar as they are
incompatible with the requirements of integrity, objectivity and independence.
11. A valuer shall clearly state to his client the services that he would be competent to
provide and the services for which he would be relying on other valuers or
professionals or for which the client can have a separate arrangement with other
valuers.
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Independence and Disclosure of Interest

12. A valuer shall act with objectivity in his/its professional dealings by ensuring that
his/its decisions are made without the presence of any bias, conflict of interest,
coercion, or undue influence of any party, whether directly connected to the
valuation assignment or not.
13. A valuer shall not take up an assignment if he/it or any of his/its relatives or
associates is not independent in terms of association to the company.
14. A valuer shall maintain complete independence in his/its professional relationships
and shall conduct the valuation independent of external influences.
15. A valuer shall wherever necessary disclose to the clients, possible sources of
conflicts of duties and interests, while providing unbiased services.
16. A valuer shall not deal in securities of any subject company after any time when
he/it first becomes aware of the possibility of his/its association with the valuation,
and in accordance with the Securities and Exchange Board of India (Prohibition of
Insider Trading) Regulations, 2015 or till the time the valuation report becomes
public, whichever is earlier.
17. A valuer shall not indulge in “mandate snatching” or offering “convenience
valuations” in order to cater to a company or client’s needs.
18. As an independent valuer, the valuer shall not charge success fee (Success fees
may be defined as a compensation / incentive paid to any third party for successful
closure of transaction. In this case, approval of credit proposals).
19. In any fairness opinion or independent expert opinion submitted by a valuer, if there
has been a prior engagement in an unconnected transaction, the valuer shall
declare the association with the company during the last five years.

Confidentiality

20. A valuer shall not use or divulge to other clients or any other party any confidential
information about the subject company, which has come to his/its knowledge
without proper and specific authority or unless there is a legal or professional right
or duty to disclose.

Information Management

21. A valuer shall ensure that he/ it maintains written contemporaneous records for any
decision taken, the reasons for taking the decision, and the information and
evidence in support of such decision. This shall be maintained so as to sufficiently
enable a reasonable person to take a view on the appropriateness of his/its
decisions and actions.
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22. A valuer shall appear, co-operate and be available for inspections and
investigations carried out by the authority, any person authorised by the authority,
the registered valuers organisation with which he/it is registered or any other
statutory regulatory body.
23. A valuer shall provide all information and records as may be required by the
authority, the Tribunal, Appellate Tribunal, the registered valuers organisation with
which he/it is registered, or any other statutory regulatory body.
24. A valuer while respecting the confidentiality of information acquired during the
course of performing professional services, shall maintain proper working papers for
a period of three years or such longer period as required in its contract for a specific
valuation, for production before a regulatory authority or for a peer review. In the
event of a pending case before the Tribunal or Appellate Tribunal, the record shall
be maintained till the disposal of the case.

Gifts and hospitality:

25. A valuer or his/its relative shall not accept gifts or hospitality which undermines or
affects his independence as a valuer.
Explanation. ─ For the purposes of this code the term ‘relative’ shall have the same
meaning as defined in clause (77) of Section 2 of the Companies Act, 2013.
26. A valuer shall not offer gifts or hospitality or a financial or any other advantage to a
public servant or any other person with a view to obtain or retain work for himself/
itself, or to obtain or retain an advantage in the conduct of profession for himself/
itself.

Remuneration and Costs.

27. A valuer shall provide services for remuneration which is charged in a transparent
manner, is a reasonable reflection of the work necessarily and properly undertaken,
and is not inconsistent with the applicable rules.
28. A valuer shall not accept any fees or charges other than those which are disclosed
in a written contract with the person to whom he would be rendering service.

Occupation, employability and restrictions.

29. A valuer shall refrain from accepting too many assignments, if he/it is unlikely to be
able to devote adequate time to each of his/ its assignments.
30. A valuer shall not conduct business which in the opinion of the authority or the
registered valuer organization discredits the profession.
Date:
Place:
Signature
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 (Name of the Approved Valuer and Seal of the Firm /
Company)

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Appendix XIII: STANDARD OPERATING PROCEDURE FOR ASSESSMENT
OF VALUE OF AGRICULTURAL LAND BEING OFFERED AS SECURITY IN
AGRICULTURAL LOANS UPTO Rs. 2.00 CRORES

1. The appraising officer shall refer to the site of revenue authorities of the state for
getting circle rates of agricultural lands in the particular area, where the proposed
agricultural land falls. The circle rates so obtained shall be rates per Hectare/Acre.
The web URL accessed for deriving the Circle Rates should invariably be mentioned
in the proforma for assessment placed at Appendix XIV.
2. In case the circle rates are not available on site, a copy of the same may be obtained
from the revenue office in the district.
3. A print of the published circle rates shall be taken, attested by the branch incumbent
and kept for record in file.
4. Based on the circle rates the appraising official will make an assessment of the land
separately as per the proforma attached at Appendix XIV.
5. The said assessment shall become a part of appraisal of the loan.
6. This assessment shall be signed by the appraising officer and the sanctioning
authority thereby complying with the maker checker concept for assessment of loans.

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Appendix XVI Valuer’s Visit Report of Immovable Property to be obtained
where valuation is reckoned on the basis of purchase price as per sale deed

S.No. Particulars Content

I. Introduction
1. Name of Valuer
2. Date of inspection/ Visit
Title Deed Number and Date
3. Purpose of Visit
4. Name of Property Owner/s
(Details of share of each owner
in case of joint & Co-ownership)
5. Name of Bank/FI as applicable
6. Name of Developer of the Property
(in case of developer built properties)
7. Whether occupied by the owner / tenant?
If occupied by tenant, since how long?
II. Physical Characteristics of the Asset
1. Location of the property in the city
Plot No. / Survey No.
Door No.
T. S. No. / Village
Ward / Taluka
Mandal / District
2. Municipal Ward No.
3. City / Town
Residential Area/ Commercial Area/ Industrial Area
4. Classification of the area:
High / Middle / Poor
Metro / Urban / Semi Urban / Rural
5. Coming under Corporation limit/ Village Panchayat/
Municipality
6. Postal address of the property
7. Latitude, Longitude and Coordinates of the site
8. Area of the plot/land (supported by a plan)
9. Layout plan of the area in which the property is
located
10. Development of surrounding areas
11. Details of Roads abutting the property
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S.No. Particulars Content

12. Whether covered under any State / Central Govt.

enactments (e.g. Urban Land Ceiling Act) or notified
under agency area / scheduled area / cantonment
area
13. In case it is an agricultural land, any conversion to
house site plots is contemplated

14. Boundaries of the property A B

As per Actuals
deed
North
South
East
West
Extent of the site considered for visit (least of 14 A
& 14 B)
15. Description of Adjoining properties
North
South
East
West
16. Survey no. if any
17 Type of Building (Residential/ Commercial/
Industrial)
18. Details of the building/buildings and other
improvements in terms of area, height, no. of floors,
plinth area floor wise, year of construction, year of
making alterations/additional constructions with
details, full details of specifications to be appended
along with building plans and elevations
19. Plinth area, Carpet area and Saleable area to be
mentioned separately and clarified
20. Any other aspect
III. Town Planning Parameters
1. Master plan provisions related to the property in
terms of land use
2. Date of issue and validity of layout of approved map
/ plan
3. Approved map / plan issuing authority

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S.No. Particulars Content
4. Whether genuineness or authenticity of approved
map / plan is verified
5. Any other comments by our empanelled valuers on
authenticity of approved plan
6. Planning area/zone
7. Development controls
8. Zoning regulations
9. FAR/FSI permitted and consumed
10. Ground coverage
11. Transferability of development rights if any, Building
bye-law provisions as applicable to the property viz.
setbacks, height restrictions, etc.
12. Comment on surrounding land uses and adjoining
properties in terms of usage.
13. Comment on unauthorized constructions if any
14. Comment on demolition proceedings if any
15. Comment on compounding/ regularization
proceedings
16. Comment on whether OC has been issued or not

17. Any other aspect

IV. Legal Aspects
1. Ownership documents,
2. Names of Owner/s
(In case of Joint or Co-ownership,
whether the shares are undivided or not?)
3. Comment on dispute/issues of landlord with
tenant/statutory body/any other agencies, if any in
regard to immovable property.
4. Comment on whether the IP is independently
accessible?
5. Title verification,
6. Details of leases if any,
7. Ordinary status of freehold or leasehold including
restriction on transfer,
8. Agreements of easements if any,
9. Notification for acquisition if any,
10. Notification for road widening if any,
11. Possibility of frequent flooding / sub-merging
12. Special remarks, if any, like threat of acquisition of
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S.No. Particulars Content
land for public service purposes, road widening or
applicability of CRZ provisions etc. (Distance from
sea-coast / tidal level must be incorporated)
13. Heritage restrictions if any, All legal documents,
receipts related to electricity, water tax, property tax
and any other building taxes to be verified and
copies as applicable to be enclosed with the report.
14. Comment on transferability of the property
ownership,
15. Comment on existing mortgages/
charges/encumbrances on the property if any
16. Comment on whether the owners of the property
have issued any guarantee (personal/corporate) as
the case may be
17. Building plan sanction, illegal constructions if any
done without plan sanction/violations.
18. Any other aspect
V Economic aspects
1. Details of ground rent payable,
2. Details of monthly rents being received if any,
3. Taxes and other outgoings,
4. Property insurance,
5. Monthly maintenance charges,
6. Security charges, etc
7. Any other aspect
VI Socio-cultural aspects
1. Description of the location of property in terms of
the social structure of the area, population, social
stratification, regional origin, age groups, economic
levels, location of slums / squatter settlements
nearby, etc.
VII Functional and Utilitarian Aspects
Description of the functionality and utility of the
assets in terms of :

1. Space allocation,

2. Storage spaces,

3. Utility of spaces provided within the building,

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S.No. Particulars Content
4. Any other aspect
VIII Infrastructure Availability
a) Description of aqua infrastructure availability in
terms of
1. Water supply
2. Sewerage/sanitation
3. Storm water drainage

b) Description of other physical infrastructure

facilities viz.
1. Solid waste management
2. Electricity
3. Roads & Public transportation connectivity
4. Availability of other public utilities nearby

c)Social infrastructure in terms of

1. Schools
2. Medical facilities
3. Recreation facilities in terms of parks and open
spaces.
IX Marketability
Analysis of the market for the property in terms of

1. Locational attributes
2. Scarcity
3. Demand and supply of the kind of subject
property.
4. Comparable sale prices in the locality.
X Engineering and Technology Aspects
1. Type of construction,
2. Materials and technology used,
3. Specifications,
4. Maintenance issues
5. Age of the building
6. Total life of the building,
7. Extent of deterioration,
8. Structural safety
9. Protection against natural disasters viz.
earthquakes,
10. Visible damage in the building if any,
11. Common facilities viz. lift, water pump, lights,
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S.No. Particulars Content
security systems, etc.,
12. System of air-conditioning,
13. Provision for firefighting,
Copies of plans and elevations of the building to be
included.
XI Environmental Factors
1. Use of environment friendly building materials,
Green building techniques if any,
2. Provision for rain water harvesting,
3. Use of solar heating and lighting systems, etc.
Presence of environmental pollution in the vicinity of
the property in terms of industries, heavy traffic, etc.
XII Architectural and aesthetic quality
1. Descriptive account on whether the building is
modern, old fashioned, etc., plain looking or with
decorative elements, heritage value if applicable,
presence of landscape elements, etc.
XIII In case of visit of industrial property
1) Proximity to residential areas
2) Availability of public transport facilities
XIV Construction value for the purpose of obtaining
Insurance

Place:
Date: Signature
(Name and Official seal of the
Approved Valuer)
Encl:

1. Declaration from the valuer

2. Model code of conduct for valuer
3. Photograph of owner with the property in the background
4. Screen shot (in hard copy) of Global Positioning System (GPS)/Various
Applications (Apps)/Internet sites (eg Google earth)/etc
5. Layout plan of the area in which the property is located
6. Building plan
7. Floor plan
8. Any other relevant documents/extracts

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 Appendix XVII

Appendix XVII Valuer’s Visit Report of Flats, to be obtained where valuation

is reckoned on the basis of purchase price as per sale deed
S.No. Particulars Content
I. GENERAL
1. Name & address of the Valuer
2. Purpose for which the Visit is made
3. a) Date of inspection/Visit
b) Title Deed Number and Date
4. List of documents produced for perusal
i)
ii)
iii)
5. Name of the owner(s) and his / their address
(es) with Phone no. (details of share of each
owner in case of joint ownership)
6. Brief description of the property
7. Location of property
a) Plot No. / Survey No.
b) Door No.
c) T. S. No. / Village
d) Ward / Taluka
e) Mandal / District
f) Date of issue and validity of layout of
approved map / plan
g) Approved map / plan issuing authority
h) Whether genuineness or authenticity YES / NO
of approved map / plan is verified
i) Any other comments on authentic of
approved plan
j) Comment on unauthorized
construction if any
k) Comment on demolition proceedings
if any
8. Postal address of the property
9. City / Town
Residential Area
Commercial Area
Industrial Area
10a. Classification of the area
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 i) High / Middle / Poor
ii) Urban / Semi Urban / Rural
11. Comment on whether the society where the
flats are located is freely accessible?
12. Coming under Corporation limit / Village
Panchayat / Municipality
13. Whether covered under any State / Central
Govt. enactments (e.g. Urban Land Ceiling
Act) or notified under agency area /
scheduled area / cantonment area
14. Boundaries of the property
North
South
East
West
15. Dimensions of the site / flat A B
As per the Actuals
Deed
North
South
East
West
16. Extent of the site
16.1 Latitude, Longitude & Co-ordinates of flat
17 Extent of the site considered for Visit (least of
13 A & 13 B)
18 Whether occupied by the owner / tenant? If
occupied by tenant, since how long?

II. APARTMENT BUILDING

1. Name of the Apartment
2. Description of the locality Residential /
Commercial / Mixed
3. Year of Construction
4. Number of Floors
5. Type of Structure
6. Number of Dwelling units in the building
7. Quality of Construction
8. Appearance of the Building
9 Maintenance of the Building
10 Facilities Available
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 Lift
Protected Water Supply
Underground Sewerage
Car Parking - Open/ Covered
Is Compound wall existing?
Is pavement laid around the Building
III FLAT
1 The floor on which the flat is situated
2 Door No. of the flat
3 Specifications of the flat
Roof
Flooring
Doors
Windows
Fittings
Finishing
4 House Tax
Assessment No.
Tax paid in the name of
Tax amount Rs.
5 Electricity Service Connection no.
Meter Card is in the name of
6 How is the maintenance of the flat?
7 Sale Deed executed in the name of
8 What is the undivided area of land as per
Sale Deed?
9 What is the plinth area of the flat?
10 What is the floor space index (app.)
11 What is the Carpet Area of the flat?
12 Is it Posh/ I class / Medium / Ordinary?
13 Is it being used for Residential or Commercial
purpose?
14 Is it Owner-occupied or let out?
15 If rented, what is the monthly rent?
IV MARKETABILITY
1 How is the marketability?
2 What are the factors favouring for an extra
Potential Value?
3 Any negative factors are observed which
affect the market value in general?
V Construction value for the purpose of
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 obtaining Insurance

Place:
Date:
Signature
(Name and Official seal of the
Approved Valuer)
Encl:
1. Declaration from the valuer
2. Model code of conduct for valuer
3. Photograph of owner with the property in the background
4. Screen shot (in hard copy) of Global Positioning System (GPS)/Various
Applications (Apps)/Internet sites (eg Google earth)/etc
5. Layout plan of the area in which the property is located
6. Building plan
7. Floor plan
8. Any other relevant documents/extracts

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 Appendix XVIII

Appendix XVIII Valuer’s Visit Report of Agricultural Land, to be obtained

where valuation is reckoned on the basis of purchase price as per sale deed

(Name & address of Valuer)

NAME OF THE BANK

BRANCH:

I. GENERAL
1. Purpose for which the Visit is made
2. a) Date of inspection/Visit :
b) Number and Date of ownership :
document (Pawti)
3. List of documents produced for perusal
i) :
ii) :
4. Name of the owner(s) and his / their :
address (es) with Phone no. (details of
share of each owner in case of joint
ownership)
5. Brief description of the property :
6. Location of property
a) Plot No. / Survey No. :
b) Door No. :
c) T. S. No. / Village :
d) Ward / Taluka :
e) Mandal / District :
7. Postal address of the property
8. Coming under Corporation limit / Village :
Panchayat / Municipality
9. Whether covered under any State / :
Central Govt. enactments (e.g. Urban
Land Ceiling Act) or notified under agency
area / scheduled area / cantonment area
10. Is any conversion to house site plots :
contemplated?
11. Boundaries of the property :
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 North :
South :
East :
West :
12. Dimensions of the site : A B
As per the Deed Actuals
North :
South :
East :
West :
13 Extent of the site :
13.a Latitude, Longitude and Coordinates of the
site
14 Extent of the site considered for Visit :
(least of 12 A & 12 B)
15 Whether occupied by the owner / lessee? :
If cultivated by lessee, since how long and
type of tenancy agreement?
16 Income received (per year) : Rs.
II. CHARACTERISTICS OF THE SITE :
1. Whether the land under consideration is :
suitable for cultivation
2. Irrigation facilities – canal / well / bore / :
rain-fed
3. Possibility of frequent flooding / sub- :
merging
4. Level of land with topographical :
conditions.
5. Shape of land :
6. Is it a Land – locked land? :
7. Whether any cottages / buildings exist in :
the Land?
8. Whether fencing and gates are arranged? :
9. General conditions of the land :
10. Quality of soil of the land :
11. Whether the land is situated on a Main / :
National Highway Road? If not, distance
from the Main / Highway Road.
12. Types of crops grown :
13. Water supply & electricity facilities. :
14. Advantage of the site :
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 1. :
2. :
15. Disadvantages of the land :
1. :
2. :
16. Special remarks, if any, like threat of :
acquisition of land for public service
purposes, road widening or applicability of
CRZ provisions etc. (Distance from sea-
coast / tidal level must be incorporated)
17. Comment on dispute/issues of landlord
with tenant/statutory body/any other
agencies, if any in regard to immovable
property
18. Comment on whether the IP is
independently accessible?

III. VISIT OF AGRICULTURAL LAND

1. Size of land :
North & South :
East & West :
2. Total extent of the land :

IV Construction value for the purpose of

obtaining Insurance

Signature
(Name and Official Seal of
the Approved Valuer)

Place:
Date:

Encl:
1. Declaration from the valuer
2. Model code of conduct for valuer
3. Photograph of owner with the property in the background
4. Screen shot (in hard copy) of Global Positioning System (GPS)/Various
Applications (Apps)/Internet sites (eg Google earth)/etc

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