VALUATION : PROFESSIONAL FEES PRESCRIBED BY BANKS: UNIFORMITY IS REQUIRED
Article By: B. Kaa!a Sa"a#at$y Tir%c$ira##alli
&.' FEES PRESCRIB PRESCRIBED ED FOR VALUA VALUATIO TION N &.
P%(a" P%(a" ) Si* Si* Ba+ Ba+ ,i--%e ,i--%e* * "y /a /all O00ice1 O00ice1 B$/# B$/#al al a- / / &&2'324''45 Value Value upto Rs. 50,000/1/2 % Rs. 50,001/- to Rs. 1,50,000/1/4 % Rs. 1,50,001/- & above - 1/8% With a maximum of Rs. 5,000/-
45 State Ba+ /0 I*ia I*ia ,Circ%lar N/. CIRCO24624''78'92 CIRCO24624''78'92 '.'3.4''71 '.'3.4''71 State Ba+ /0 I*ia1 L/cal ;ea* O00ice1 C$eai . i!st o"e la#h
- Rs. $5/-
e'o"( o"e la#h
- Rs. 185/-
ubse)ue"t eve!* o"e la#h
- Rs. 125/-
+aximum amou"t pa*able
-
Rs. 10,000/-
o! spe'ifi' 'ases i"volvi" i"volvi" mu'h hihe! value of p!ope!t* o! fo! valui" 'ompli'ate( p!ope!t*, p!ope!t*, the !ates ma* be a!ee( a!ee( o" a 'ase basis o" o" mutual (is'ussio"s. o"ve*a"'e expe"ses a"( outstatio" outstati o" expe"ses ma* be pai( sepa!atel*. e!vi'e tax ma* be pai(. <5 Ui/ Ba+ /0 I*ia , Circ%lar N/. 324.'3.4'' 324.'3.4'' "y Cetral O00ice1 M%="ai87'' '4&5 he maximum p!ofessio"al fees pa*able fo! valuatio" of a" asset ill be as u"(e! 1 2 $
3" fi!st Rs. 50,000/- of the assets value( - 1/2% of the value 3" the "ext Rs. 1.00 a#h - 1/4% of the value 3" the bala"'e - 1/8% of the value
he total fees shoul( "ot ex'ee( Rs. 40,000/- fo! p!ope!t* value( above Rs. 1.00 '!o!e a"( upto Rs. 5.00 '!o!e a"( Rs. 50,000/- fo! p!ope!t* above Rs. 5.00 '!o!e. pto Rs. 50,000/ 6bove Rs. 50,000/-, upto Rs. 1,00,000/-
Rs. 250/+i". Rs. 250/+ax Rs. $5/+i". Rs. $5/+ax. Rs. 7,57$/-
6bove Rs. 1,00,000/-, upto Rs. 50,00,000/-
6bove Rs. 50,00,000/-, upto Rs. 1,00,00,000/-
+i". Rs. 7,57$/+ax.Rs.12,81$/ 6bove Rs. 1,00,00,000/-, upto Rs. 5,00,00,000/- +i". Rs.12,81$/+ax. Rs.72,81$/limite( to Rs. 40,000/- 6bove Rs. 5,00,00,000/limite( to Rs. 50,000/u!the!, he!e to o! mo!e assets i" a pa!ti'ula! a''ou"t a!e !e)ui!e( to be value( at o"e time the" all su'h assets shall be (eeme( to 'o"stitute a si"le asset fo! the pu!pose of 'al'ulati" the fees of the value!. o! outstatio" t!avelli" a"( (iem, a'tual ti'#ets up to 6-99 tie! a"( Rs. 200/- (a* !espe'tivel* ma* be 'o"si(e!e( fo! !eimbu!seme"t. he above fee st!u'tu!e is sub:e't to "eotiatio" at the time of ivi" ea'h assi"me"t as the same is to be !e'ove!e( f!om the bo!!oe!s, spe'ial 'a!e "ee(s to be ta#e" hile "eotiati" fees fo! !evaluatio" of the assets al!ea(* mo!tae( to the ba"#. 75 S%*ara= ;/=e Fiace ,C$eai5 ess Value upto Rs. 10 la#hs 6bove Rs. 10 la#hs up to Rs. 20 la#hs 6bove Rs. 20 la#hs up to Rs. $0 la#hs 6bove Rs. $0 la#hs up to Rs. 50 la#hs 6bove Rs. 50 la#hs up to Rs. 100 la#hs 6bove Rs. 100 la#hs up to Rs. $00 la#hs 6bove Rs. $00 la#hs up to Rs. 500 la#hs a*out 3the!s e!vi'e tax as appli'able 3utstatio" 'ha!es Rs. 500/- ext!a above 50
Rs. 1,000/Rs. 1,000/- ; Rs. 100/la#h Rs. 2,000/- ; Rs. 50/la#h Rs. 2,500/- ; Rs. 50/la#h Rs. $,500/- ; Rs. 50/la#h Rs. 7,000/- ; Rs. 50/la#h Rs. 10,000/- +aximum Rs. 2,000/-
95 I*ia O>er-ea- Ba+ ,Cetral O00ice1 C$eai ? 6'' ''4 ? Re0. : Mi-c2&724''8 '@2&.&&.4''5 1. ees 3" the fi!st Rs. 50,000/- of the asset value(
-
1/2% of the value
=ext Rs. 1,00,000/- 1/4% of the value! 6"( 3" the bala"'e of the asset value( - 1/8% of the value ub:e't to a mi"imum of Rs. 250/- a"( maximum of Rs. 10,000/- fo! valuatio" of la"(, buil(i" a"( ma'hi"e!* fo! ea'h pa!t* a''ou"t. 4. C/*iti/i Whe!e to o! mo!e assets a!e !e)ui!e( to be value( at the i"sta"'e of a" assess, all su'h assets shall be (eeme( to 'o"stitute a si"le asset fo! the pu!pose of 'al'ulati" the fees. ii
9f the same p!ope!t* has to be !evalue( at the i"sta"'e of ba"#, 50% of the above p!es'!ibe( 'ha!es o"l* is pa*able fo! the se'o"( i"sta"'es of valuatio", p!ovi(e( the fi!st set of valuatio" !epo!t / (o'ume"ts a!e ma(e available to the value!.
7 I*ia Ba+ ,Cetral O00ice1 C$eai86'' ''& ? Circ%lar: CPD Lr. 9.4''<2 9.9.4''< Cate!/ry 6.
Fee1 $ere t$e >al%e /0 #r/#erty ipto i"'lusive of Rs. 5.0 a#hs
>.
.
?.
6bove Rs. 5.0 la#hs upto a"( i"'lusive of Rs. 10.0 la#hs 6bove Rs. 10.0 la#hs up to a"( i"'lusive of Rs. 1.0 '!o!e 6bove Rs. 1 '!o!e
Fee- a!e
Fee- #aya"le ,R-.5
0.15%
Mii=%= 200/-
Mai=%= $00/-
0.125%
50/-
1,250/-
0.05%
1,250/-
5,000/-
Rs. 5000/; 0.025% fo! Rs. 10.0 la#hs
5,000/-
10,000/-
=ote he ba"#s a!e a(vise( to pa* the fees afte! (e(u'ti" ? hethe! appli'able b* mea"s of ba"#e!@s 'he)ue to the value!s o" !e'eipt of the !epo!t. he ba"# (oes "ot pe!mit the pa*me"t of fee to the value!s (i!e'tl* b* the bo!!oe! 'ustome!s / o"e!s of the p!ope!t*. . Vi(aya Ba+ ,Re!i/al O00ice1 Ne Del$i ? *ate* 49.'7.4''65 p to Rs. 1.50 la#h Rs. 1.50 la#h to Rs. 2.50 la#h Rs. 2.50 la#h to Rs. 5.00 la#h 6bove Rs. 5.00 la#h of
-
Rs. 200/Rs. 250/Rs. 500/Rs. 0.1% sub:e't to maximum
- Rs. 5,000/- pe! fa'ilit*/a''ou"t @5 State Ba+ /0 My-/re ,;ea* O00ice1 Ba!al/re Circ%lar /. '&&24''<8 4''72 &4.'4.4''75 3" the fi!st Rs. 50,000/- of the p!ope!t* so value( 1/2% of the value 3" the "ext Rs. 1,00,000/- of the p!ope!t* so value( 1/4% of the value 3" the "ext Rs. 50,00,000/- of the p!ope!t* so value( 1/8% of the value 3" the bala"'e of the p!ope!t* so value( 1/17% of the value 35 T$e Fe*eral Ba+ Lt*. ,Cre*it C/tr/l De#art=et5 Fee3" the fi!st Rs. 50,000/- 1/2% of the value 3" the "ext Rs. 1,00,000/- 1/4% of the value 3" the "ext Rs. 50 la#h - 1/8% of the value 3" the bala"'e of p!ope!t* value - 1/17% of the value he fee pa*able as above is sub:e't to a maximum of Rs. 5,000/C/*iti/i Whe" to o! mo!e p!ope!ties a!e !e)ui!e( to be value( at the i"sta"'e of the bo!!oe!- all su'h assets shall be (eeme( to 'o"stitute a si"le asset fo! the pu!pose of 'al'ulatio" of fees. ii 9f the p!ope!t* has to be !evalue( at the i"sta"'e of the ba"#, 50% of the 'ha!es a!e stipulate( i" the se'o"( o! subse)ue"t i"sta"'es p!ovi(e( the fi!st valuatio" is ma(e b* the same value! a"( sub:e't to a maximum of Rs. 2,500/-. iii 9f the p!ope!t* is i" the fo!m of va'a"t / house site, fees pa*able shall be 50% of the "o!mal 'ha!es sub:e't to maximum of Rs. 2,500/- . 9" 'ase of mo!e tha" o"e p!ope!t* Ao"e va'a"t la"( othe! "ot a va'a"t la"( Avalue(, fee ma*be 'al'ulate( sepa!atel* ith ove!all 'eili" of Rs. 5,000/-. iv he expe"ses o! t!avel is limite( to a"( f!o fi!st 'lass !aila* fa!e o! a'tual expe"ses if othe! mo(es of 'o"ve*a"'e a!e use(, hi'heve! is less. v =o halti" alloa"'e ill be pai(. iv he se!vi'e tax pa*able ma* be a((e( to the fees pa*able a"( i"'ome tax shall be (e(u'te( at sou!'e he!eve! appli'able. &'5Orietal Ba+ /0 C/==erce ,;ea* O00ice1 Ne Del$i8&&' ''& Circ%lar N/. ;O2 ADV 2424''98'62<4&2@.&&.4''9 1st Rs. 50,000/- of p!ope!t* so value( B 1/ 2% of the value - Rs. 250/3" the "ext 1 la#h of the p!ope!t* so value( B 1/ 4% of the value - Rs. 250/o! p!ope!t* of Rs. 1.50 la#h - Rs. 500/3" the bala"'e of the p!ope!ties so value( B 1/8% - Rs.125/pe! la#h
he above !ates a!e i"(i'ative o"l* a"( !ates ma* be fixe( (epe"(i" upo" the lo'al 'o"(itio"s a"( i" 'o"sultatio" ith othe! ba"#s ope!ati" i" the a!ea. 6" uppe! 'ap of Rs. 10,000/- ma* be fixe(. o! ve!* spe'ialiCe( o! hih value p!ope!ties the !ates ma* have to be "eotiate( o" 'ase to 'ase basis i" 'o"sultatio" ith the o"e!s of the p!ope!t*. &&5 Sy*icate Ba+ ,;ea* O00ice1 Mai#al8 96 &&3 Circ%lar N/. 4'<2332 BC2CR2672CRPPD &7.&'.&3335 o"si(e!i" the ove! a" i"'!ease i" the 'ost of ope!atio", it has bee" (e'i(e( to !evise the valuatio" fees pa*able to app!ove( value!s as pe! folloi" s'he(ule sub:e't to a mi"imum of Rs. 250/- a"( maximum of Rs. 10,000/- fo! ea'h pa!t*/a''ou"t. a 3" the fi!st Rs. 50,000/- of the - at 1/2% of the value of p!ope!t* p!ope!t* value( b 3" the "ext Rs. 1.00 la#h of the - at 1/4% of the value of the p!ope!t* p!ope!t* value( ' 3" the "ext Rs. 50.00 la#h of the - at 1/8% of the value of the p!ope!t* p!ope!t* value( ( 3" the bala"'e of the p!ope!t* - at 1/17% of the value of the p!ope!t* p!ope!t* value(
Brac$e- =ay al-/ /te t$e 0/ll/i! c/*iti/- : &.
DWhe!e to o! mo!e assets a!e !e)ui!e( to be value( at the i"sta"'e of the bo!!oe!, all su'h assets shall be (eeme( to 'o"stitute a si"le asset fo! the pu!pose of 'al'ulatio" of fees.
4.
9f the p!ope!t* has to be !evalue( at the i"sta"'e of the ba"#, 50% of the 'ha!es a!e stipulate( i" the se'o"( i"sta"'e, p!ovi(e( the fi!st set of valuatio" !epo!t/ (o'ume"ts a!e ma(e available to the value!.
<.
9f the p!ope!t* is i" the fo!m of a va'a"t la"( / house site, fees pa*able shall be 1/ 4% of value of the asset, sub:e't to a maximum of Rs. 2,000/-.
7.
9" 'ases a!!a"ti" i"te!im !epo!ts at va!ious staes of 'o"st!u'tio" / (evelopme"t fo! eve!* valuatio" fees at the !ate of Rs. 100/- pe! su'h a((itio"al valuatio" a!e a(missible. >ut this is aai" sub:e't to a 'eili" of Rs. 10,000/- pe! pa!t*/ a''ou"t.
9.
he expe"ses fo! t!avel a!e limite( to a"( fo! 2"( 'lass !aila* fa!e o! a'tual expe"ses if othe! mo(es of 'o"ve*a"'e a!e use( hi'heve! is less.
6.
=o halti" alloa"'e is alloe(.
.
he se!vi'e tax pa*able ma* be a((e( to the fees pa*able a"( i"'ome tax shall be (e(u'te( at sou!'e he!eve! appli'able.
&4.
UCO Ba+ pto Rs. 50,000/Rs. 50,0001 to Rs. 1.00 la#h Rs. 1,00,0001 to Rs. 50.00 la#hs
- Rs. 50/- Rs. 1,000/- +aximum Rs. 1,000/+i"imum Rs. 7,250/Rs. 50,00,001 a"( above - +i"imum Rs. 7,250/+aximum Rs. 25,000/o! outstatio" t!avelli" a"( (iem, a'tual !aila* ti'#ets up to 1 st 'lass a"( Rs. 200 pe! (a* !espe'tivel*, ma* be 'o"si(e!e( fo! !eimbu!seme"t. he above fee st!u'tu!e shoul( be fu!the! "eotiate( ith the value!s if the value of the p!ope!t* is hih. &< Ba+ /0 I*ia ,/al O00ice1 B$/#al ? Re0. N/. O: Cre*it: MNT: 443424.'&.&3335 3" the fi!st Rs. 50,000/- of the asset as value 3" the "ext Rs. 1 la#h of the asset as value 3" the bala"'e of the asset as value(
-
1/2% of the value 1/4% of the value 1/8% of the value
Whe!e to o! mo!e asset a!e !e)ui!e( to be value(, all su'h assets shall be (eeme( to 'o"stitute a si"le asset fo! the pu!poses of 'al'ulati" the fees pa*able. &75 Li0e I-%race C/r#/rati/ /0 I*ia ,Di>i-i/al O00ice1 B$/#al ? Re0. N/. L);PF2'&.'&.&33@5 p to Rs. 50,000/>etee" Rs. 50,000/- to Rs. 1,00,000/>etee" Rs. 1,00,000/- to Rs. $,00.000/-
>etee" Rs. $,00,000/- to Rs. 5,00,000/-
>etee" Rs. 5,00,000/- to Rs. 20,00,000/-
6bove Rs. 20,00,000/-
-Rs. 250/-Rs. $50/-Rs. $50/- ; 0.20% of the value of the E!ope!t* above -Rs. 1,00,000/-Rs. 50/- ; 0.15% of the value of the p!ope!t* above -Rs. $,00,000/-Rs. 1,050/- ;0.10% of the value of the p!ope!t* above -Rs. 5,00,000/-Rs .2,250/- ;0.05% of the value of the p!ope!t* above - Rs.20,00,000/-
&95 P%(a" ) Si* Ba+ ,/al O00ice1 B$/#al ? letter *ate* &&2'324''45 Value up to Rs. 50,000/Rs. 50,001/- to Rs. 1,50,000/Rs. 1,50,001/- & above 5,000
- 1/2% - 1/4% - 1/8% ith max. of Rs.
&65 Cetral Ba+ /0 I*ia ,Re!i/al O00ice1 C$eai ? RO: CR: 4''98 '6:3<92 '.&4.'95 1
i!st Rs. 50,000/- of the value of asset =ext Rs. 1.00 la#h of the value of asset 6bove Rs. 1.50 la#hs
-
1/2% of the value 1/4% of the value 1/8% of the value
2 9f to o! mo!e assets a!e !e)ui!e( to be value( all su'h assets shall be (eeme( to 'o"stitute a si"le asset fo! the pu!pose of the pa*me"t of valuatio" of fee. Foeve! if the se'u!e( asset is va'a"t la"(, the max. amou"t of fees shoul( "ot ex'ee( Rs. 5,000/- a"( i" othe! 'ases shoul( "ot ex'ee( Rs. 10, 000/-. $ 6 !easo"able amou"t of 'o"ve*a"'e 'ha!es ma* be !eimbu!se( if the o!# allotte( is outsi(e the a!ea of the value! +utuall* a!ee( to betee" the value! a"( the ba"#. &5 LIC ;/%-i! Fiace Lt*. ,letter *ate* 47.&&.&33@5
p to Rs. 50,000/p to Rs. 1,00,000/ 6bove Rs. 1,00,000/-
-
Rs. 250/Rs. 250/- ; 1/ 4% of the value above Rs. 50,000/Rs. $5/- ; 1/8% of the value above Rs. 1,00,000/-
&@5 Ca 0i ;/=e- Lt*. ,Cre*it De#t1 Ba!al/re ? ABM N/. &<'23@ *t. &&2'@2&33@5 p to Rs. 50,000/p to Rs. 50, 000/- to 1,50,000/ 6bove Rs. 1,50,000/-
- 1/ 2% ith a mi"imum of Rs. 250/- 1/ 4% ith a mi"imum of Rs. 500/- 1/8%
&35 T$e D$aala+-$=i Ba+ Lt*. ,Er/*e ? letter *t. <'2'@2&33@5 i o! 6!i'ultu!al la"( / la"(e( p!ope!t* o"l* Rs. 150/- pe! a'!e +i"imum of Rs. 250/- & maximum of Rs. 5,000/ii o! la"( ith buil(i" a"( valuatio" as pe! 'eili" as above >uil(i" B 0.1% of the value of the buil(i" +i"imum of Rs. 400/- & maximum of Rs. 10,000/4'5 A*$ra Ba+ ,Cre*it Ri-+ Maa!e=et1 ;ea* O00ice1 ;y*era"a* Circ%lar N/. <@246.'7.4''75 &5 ees pa*able to Valuatio"
9f the p!ope!t* is i" the fo!m of a va'a"t la"( / house site, fee pa*able is 0.25% o" the value of the p!ope!t* sub:e't to a maximum of Rs. 2,000/-. 9" the 'ase of othe! p!ope!ties, the fee pa*able is 0.25% o" the value of p!ope!t* sub:e't to a maximum of Rs. 10,000/-. 2 Fee- #aya"le / re>al%ati/ he fee pa*able i" 'ase a !evaluatio" is (o"e b* the same e"i"ee! ho ha( o!ii"all* value( the p!ope!t* shall be as follos 9f p!ope!t* is i" the fo!m of a va'a"t la"( / house site, pa*able is 0.125% o" the value of the value of the p!ope!t* sub:e't to a maximum of Rs. 1,000/-. 9" 'ase of othe! p!ope!ties, the fee pa*able is 0.125% o" the value of p!ope!t* sub:e't to maximum of Rs. 5,000/-. <5 Re8i="%r-e=et /0 /%t-tati/ e#e-e- ic%rre* o & f!o 1st 'lass / 6 2 tie! fa!e boa!(i" / lo(i" at the !ate of Rs. 250/- pe! (a* at all (ist!i't Fea( )ua!te!s / 'ities a"( Rs. 150/ (a* at othe! 'e"te!s. he expe"ses !eimbu!se( a!e to be !e'ove!e( f!om the bo!!oe!. 4&5 T$e S/%t$ I*ia Ba+ Lt*. ,Circ%lar N/. CCD2'@2383@ *t. 43.&4.&335 1 he fees o! 'ha!es fo! valuatio" of buil(i", ma'hi"e!*, et'. ill be 0.1% of the value of the se'u!ities u"(e! valuatio" ith a mi"imum of Rs. 500/- a"( a maximum of Rs. 10,000/-. 2 o! the pu!pose of fees 'al'ulatio", (iffe!e"t p!ope!ties, buil(i" o! ma'hi"e!ies situate( i" the same lo'atio" ill be t!eate( as o"e valuatio" a"( maximum fees pa*able ill be Rs. 10,000/- o"l*. $ Whe!e se'u!ities a!e situate( at a (ista"'e be*o"( 100
- Rs. 250/- Rs. $50/- Rs. $50/- ; 0.2% of above 1.0 la#h - Rs. 50/- ; 0.15% of above $.0 la#h
Rs. 5,00,001/- to Rs. 20,00,000/+aximum fees
- Rs.1,050/- ; 0.1% of above 5.0 la#h - Rs. 4,000/-
475 IN Vy-ya Ba+ a 9" 'ase of la"( & buil(i" 3" the fi!st Rs. 50,000/- 0.5% of the value 3" the "ext Rs. 1,00,000/- 0.25% of the value 9" the ex'ess of Rs. 1,00,000/- 0.125% of the value ub:e't to a maximum of Rs. ,500/- fo! ea'h p!ope!t* value(. >9" 'ase of va'a"t la"( / house site ub:e't to a maximum of Rs. 2,000/495 Caara Ba+ ,Ba!al/re Circle5 p to Rs. 50,000/Rs. 50,001/- to 1,50,000/>ala"'e asset
- 0.25% of the value
- 1/2% - 1/4% - 1/8%
o! valuatio" of sto'#s the max. fees
- 50,000/-
465 ;UDCO ees is as pe! the "o!ms p!es'!ibe( i" the Wealth ax 6't, 1G5 i.e. >? !ates. 45 Ba+ /0 Bar/*a Rs. 50,000/- of p!ope!t* value( Rs. 50,001/- to Rs. 1,00,000/Rs. 1,00,001/- to Rs. $,00,000/Rs. $,00,001/- to Rs. 5,00,000/ 6bove Rs. 5,00,000/-
- Rs. 250/- Rs. $50/- Rs. $50/- ; 0.2% of above 1.0 la#h - Rs. 50/- ; 0.15% of above $.0 la#h - Rs. 1,050/- ; 0.1% of above 5.0 la#h
28 P%(a" Nati/al Ba+ ,Circ%lar : CPY8 442&9.'4.4''<1 Cre*it P/licy ) Maa!e=et Di>i-i/1 Ne Del$i5 Rs. 20 a#hs & above but less tha" 50 a#hs - Rs. 2,000/Rs. 50 a#hs & above but less tha" 1 !o!e - Rs. 4,000/Rs. 1 !o!e & above but less tha" 5 !o!e - Rs. ,000/ Rs. 5 !o!es & above - Rs. 10,000/he fees p!es'!ibe( above a!e maximum a"( b!a"'hes ma* "eotiate the fees o" 'ase to 'ase basis a''o!(i" to )ua"tum of o!# i"volve(. 9" 'ase of a bo!!oe!, he!e a "umbe! of p!ope!ties a!e to be value(, sp!ea( ove! (iffe!e"t lo'atio"s, the i"'umbe"ts shall "eotiate the 'o"soli(ate( fee loe! tha" those p!es'!ibe( above. 2G
=ote 1 he fees exp!esse( as above is as o" +a!'h 2008 a"( base( o" the available pa!ti'ula!s. 9f the!e is a"* 'o!!e'tio" o! !evisio", the fa't ma* please be hihlihte(. he p!a'ti'i" value!s ma* please "ote that the fees st!u'tu!e ma* va!* f!om pla'e to pla'e a"( the* a!e !e)ueste( to ve!if*. 4.' REMARKS BY T;E AUT;OR: 1 he fees p!es'!ibe( b* the e"t!al >oa!( of ?i!e't axes as ell as the 9"stitutio" of Value!s is as follos o! Rs. 50,000/- of value o! "ext Rs. 1,00,000 of value 6bove Rs. 1,50,000 9" simple o!(s i!st o"e la#h
1/2% 1/4 % 1/8% Rs. $5/-
e'o"( o"e la#h
Rs. 185/-
ubse)ue"t eve!* o"e la#h
Rs. 125/-
2 he Rese!ve >a"# of 9"(ia i" its 'i!'ula! has ive" ui(eli"es to all the ba"#s that the pa"el value!s shoul( be the value!s be the value!s !eiste!e( ith the e"t!al >oa!( of ?i!e't axes u"(e! se'tio" $46> of Wealth ax 6't. +a"* ba"#s p!efe! thei! pa"el value!s shoul( be the life membe!s of 9"stitutio" of Value!s, of Value!s, ?elhi, the o"l* p!ofessio"al bo(* mea"t fo! value!s. $ Whe" the above is a fa't, the" the value!s a!e eliible to et fees p!es'!ibe( b* the e"t!al >oa!( of ?i!e't axes a"( the 9"stitutio" of Value!s. 1 >ut it is "ot #"o" h* (iffe!e"t ba"#s a(opt (iffe!e"t *a!(sti'#s hile p!es'!ibi" the p!ofessio"al 'ha!es. 1 ?iffe!e"t Co"es a(opt (iffe!e"t fees a"( it is a pit* that some of the b!a"'h ma"ae!s a(opt thei! o" fees i" o!(e! to favo! the bo!!oe!s a"( some of the !eio"s follo (iffe!e"t patte!"s fo! housi" s'hemes. 2 e"t!al >oa!( of ?i!e't axes a"( 9"stitutio" of Value!s have "ot flxe( a"* 'eili" he!eas some of the ba"#s have flxe( 'eili" su'h as Rs. 4,000, Rs. 5,000, Rs. ,500, Rs. 10,000, Rs. 25,000, Rs. 50,000, et'. he!e is "o u"ifo!mit* at all. $ ome ba"#s have fixe( o"e 'eili" to la"(e( p!ope!t* a"( a"othe! 'eili" fo! la"( & buil(i" p!ope!t*. +a"* people thi"# that (oi" valuatio" of la"( is eas* he!eas it is "o so, a'tuall*.
4 i 6s pe! >? "o!ms, D9f to o! mo!e assets a!e !e)ui!e( to be value(, all su'h assets shall be (eeme( to 'o"stitute a si"le asset fo! the pu!pose of pa*me"t of valuatio" feesH. ii >ut >? & 9"stitutio" of Value!s have "ot flxe( a"* uppe! 'eili". iii ome of the ba"#s have fixe( a 'eili" of Rs. 10,000/- a"( the* stipulate fu!the! that t$e -a=e ceili! $/l*- !//* 0/r ay %="er /0 a--et-. he!e is "o loi' at all. Fo 'a" a value! (o I"@ "umbe! of valuatio"s !e)ueste( b* a bo!!oe! fo! p!ope!ties situate( at (iffe!e"t lo'atio"s a"( is expe'te( to !e'eive a 'eili" of a meae! Rs. 10,000/-. What is the ua!a"tee the bo!!oe! obtai"s the !epo!ts a"( ill "ot use fo! othe! pu!poses J he value! be'omes a vi'tim a"( the bo!!oe! be'omes sma!t. 9" othe! o!(s, the bo!!oe! is p!ovi(e( ith a" optio" to split the !epo!ts as he ishes a"( the value! is (ep!ive( f!om etti" his !ihtful (ue fo! su'h a split.
iii iv v
vi
vii
iv =o (oubt the bo!!oe! is a" impo!ta"t pe!so" fo! a"* ba"# but the ba"# shoul( !espe't the value!s also. ?ue !ea!( is to be ive" to the p!ofessio"als.
viii
v 9" some 'ase, the ba"# ma"ae! plea(s fo! a loe! fees si"'e the fa'ilit* !a"te( is too small he" 'ompa!e( to the value of the asset. =o 'o"t!ol is the!e to 'ompe"sate the value! he" the limit is !aise( late! o".
ix x xi xii xiii
55 Per-/ally I -%!!e-t t$e 0/ll/i! he p!ofessio"al 'ha!es pa*able to the pa"el value!s ma* be
xiv
i Rs. 125 fo! eve!*o"e la#h of value sub:e't to a maximum of Rs. 10,000/- fo! fi!st o"e '!o!e of p!ope!t* value a"( Rs. 5,000/- fo! eve!* a((itio"al o"e '!o!e of value. xv
ii !avelli" & a''ommo(atio" boa!(i", photo expe"ses at a'tual & se!vi'e tax, if appli'able is to be a((e(.
xvi xvii xviii
xxi
iii o! ve!* hih value p!ope!ties, 'ompli'ate( & te(ious p!ope!ties o! less value p!ope!ties hi'h i"volve mo!e labou!, et'. the fees 'oul( mutuall* be fixe(.
<.'
CONCLUSION
xix xx
he 'lie"t a"( the ba"#e! shoul( be ma(e to !ealiCe a"( !e'o"ise that Valuatio" is "ot a me!e appli'atio" of p!i"'iples. 9t is a" appli'atio" of mi"(. he expe!ie"'e a"( expe!tise a value! b!i"s i"to his p!ofessio" a!e i!!epla'eable. he !espo"sibilit* of the value! i" te!ms of the 'o!!e't"ess of the value
assesse( is o"e!ous. 6 oo( p!ofessio"al value! 'oul( save the ba"# f!om sti'#* a''ou"ts b* assessi" the !ealiCe( value 'o!!e'tl* if the pu!pose of valuatio" is fo! mo!tae. he fee pai( to a value! is "ot o"l* fo! his o!#, but also fo! the !espo"sibilit* he shoul(e!s. Whe" the assesse( value is hih, the fees ma* appea! to be la!e, but the !espo"sibilit* u"(e!ta#e" is also imme"se. he value! is ala*s o" the ba"#e!@s si(e. Fe a"ts to ta#e 'a!e the >a"#@s i"te!est fi!st. he value!@s expe'tatio" is K FKRK >K =93R+9L 6+3=M 6 FK >6=< 9= FK 3=RL W9F RKM6R? 3 FK ER3K93=6 KK.
xxii
