REASONS OF INQUIRIES FACED BY THE VALUERS

KNOWLEDGE BANK FROM B KANAGA SABAPATHY

LET KNOWLEDGE SPREAD

“Questions and Opinions – 25/01/2023”.

QUESTION & OPINION

Question :

A few valuers face inquiries from the investigation department. What may be the few reasons?

My opinion :

1. Over greediness in earning quick money.
2. Undue pressure from the borrowers.
3. Ignorance about the valuation subject.
4. Lack of experience in the valuation field.
5. Unable to verify the identification of the property.
6. Not visiting the property personally.
7. Trusting the sub-ordinates (sometimes they are non-technical) blindly and totally.
8. Exact purpose is not understood clearly.
9. Casual approach to the valuation assignment.
10. Report lacks the details … how the land rates were fixed.

Follow CEV on Social Media

With best wishes,

B. KANAGA SABAPATHY
bkvaluer@gmail.com
www.bkanagasabapathy.com

About the Author:-

Mr. B. Kanaga Sabapathy born in 1951, is a Civil Engineer who belongs to the 1972 batch of Regional Engineering College, Tiruchirappalli in Tamilnadu.
He is a Registered valuer of the Central Board of Direct Taxes, a Professional Engineer and also a Chartered engineer. Valuation is his main profession..
He was the National Vice-President of the Institution of Valuers (India) for 11 terms.
He is a regular contributor of articles in the Indian Valuer Journal from the year 1985. His articles especially his regular column “Questions & Opinions” are very popular among the practising valuers in India.
His book “Guidelines on Valuation for Banks” (2002) is used to be referred by many banks. The valuation formats designed by him were accepted and adopted as the formats by many banks in the country.
His son K. Arun and daughter B.K. Aruna are also approved valuers and they also contribute articles to the Indian valuer journal.
His guru: Mr. C.H. Gopinatha Rao, Chennai.
His mentor: Mr. R.K. Gandhi, Mumbai.
His role model: Mr. S. Rajaratnam, Chennai.
His best students: Thousands of valuers in the country