Application Form for Valuer
Content
Institution of Valuers
(Registered under The Societies Registration Act XXI of 1860)
4, 5 & 6, Vishal Market, Mukherjee Nagar (West), Civil Lines, Delhi 110 009
Telephone Nos. : 27135248 27445169 Telefax : 27445257
E-Mail : [email protected] Web-site : www.institutionofvaluers.org
INDIA
Dear Applicant,
So you have decided to become a Valuer. Congratulations! However, you should be prepared to learn
many new things connected with economical, legal, financial and technical practices, as related to valuation.
The following instructions for filling your application are based on our long experience of going through
hundreds of applications every month. Correct filling of enclosed form will facilitate the
processing of your
application in a shorter time and save you from writing many letters to satisfy enquiries made from this end :
1.
Please read carefully the instructions given right on top of the form regarding filling your
form.
application
{a}
Fill in every column. No column is to be left blank. In case there is nothing to fill, write
suitable remarks. Incomplete filled in applications will be rejected.
{b}
Date of application should always be given on page 1 as well as on page 4.
{c}
All matter should be type written as far as possible.
2.
Read the UNDERTAKING on page 1 carefully. If you have any doubts about the following conditions,
do not apply.
3.
Underline your surname for identification.
4.
As per rules of the Institution only one category is allotted. Changes are also not possible. Please
indicate your choice of only one category carefully.
5.
You must be a graduate for Categories I & VII and suitably qualified for other categories to become a
corporate member. It is absolutely essential to provide an attested Photostat copy of the genuine
University Degree. Certificates or Marks Sheets are not accepted. Be sure to send this document with
your application. Do not send Marks Sheets or Certificates as substitute for the Degree.
6.
Send a proof of your date of birth. This should be either your High School certificate showing your date
of birth or a local Municipal birth certificate. Ration cards, passport or other forms of birth date proof are
not correct and reliable and will not be accepted.
7.
Your application will not be considered without the two documents stated above namely copy of
Engineering Degree and proof of date of birth. It is your job to supply these copies. In the absence of
these your application will be considered incomplete and rejected.
8.
Any certificate or document enclosed with your application should be properly folded to one size and
attached at the end of the application. These should not be put between the pages of the application. A list
of documents provided should be given in a covering letter for proper identification. Do not use different
inks or other colours in your application. The papers should not be stitched. but may be tied by a twine if
necessary.
9.
You should not send the same document twice or again and again. It increases the filing work
unnecessarily.
10.
Send clear and readable copies of the documents. It is your duty to do so. The documents should be in
English. Date of birth should be shown in Gregorian calendar. Unreadable or not clear documents will
mean rejection of your application. It is not possible to write a letter for small omissions.
11.
Lot of time is wasted in asking for information and documents. Take care that all documents are provided
with the application.
12.
The processing of application takes sometime and delay is caused if documents/written information is not
provided in time. No enquiries regarding the progress of your application within two months will,
therefore, be entertained. Moreover, it may mean rejection of your application.
13.
When applying for up gradation to higher category, you must state the purpose and reasons clearly for
your asking a promotion. Clearly state the change in qualification or increased experience which will
justify your asking for promotion to a higher grade.
14.
In order to facilitate uniformity in our records and also to make it convenient and facilitate
computerization in the very near future, it has been decided that printed form only will be issued by the
Head Quarters. The form has been priced at Rs.50/- + Registered Postage (Rs.30/-). No other form either
printed of zeroxed will be accepted.
I wish you good luck and success.
Yours faithfully
Sd/(P.C. Goel)
Hon. Gen. Secretary
ABSTRACT FROM THE RULES & REGULATIONS OF THE INSTITUTION OF VALUERS
FOR APPLICANTS SEEKING MEMBERSHIP OF INSTITUTION OF VALUERS
1. MEMBERSHIP OF THE INSTITUTION :The Institution shall consist of Four Classes of Members, i.e, FELLOWS, ASSOCIATES, LICENTIATES and
STUDENTS. The Licentiates and Students shall not be corporate members of the Institution and shall not be
eligible for election to the Council of the Institution and shall not have the right to vote at the meeting of the
Institution nor of a postal vote nor they shall be permitted to use any suffix of the Institution but shall be entitled
to in other respect to the privileges of the membership.
2. ELIGIBILITY OF ENROLMENT AS FELLOWS :(I) In the case of Engineer or Architect (Cat. 1, 5, 7 etc.) :
{a}
The valuer must be a graduate in Civil, Mechanical, Electrical and Mining Engineering or Architecture of
a recognized University or hold a Diploma which is recognized equivalent to bachelor of Engineering in any
branch of Engineering or Architecture.
{b}
He must have atleast ten years of experience in his own field.
(II) In the case of a Specialist in Agriculture and Farm Valuation (Cat . 2) :
{a}
The valuer must be a graduate in Agricultural Economics or Agricul
tural Science with atleast ten
years experience as a Farm Valuer.
or
{b}
He should have been in the service of a State Government for a total period of not less than ten years as :(i) An Agricultural Inspector; or
(ii) A tehsildar: or
(iii) A Land Valuation Officer: or
(iv) A Settlement Officer.
(III) In the case of a Specialist in Coffee Plantations (Cat. 3) :
A. The valuer must be the owner or manager of a Coffee Plantation of the size of at least 100 acres; and he must
have at least ten years experience in the plantation line.
B. In the case of a Valuers for Tea Estates (Cat. 3) :
{a}
He should be the owner or manager of a tea plantation of the size
of at least 100 acres which has a
factory for manufacturing tea,
and
{b}
he must have at least ten years experience in the plantation line.
(IV) In the case of a Valuer for Standing Forests (Cat. 4) :
{a}
He must be a Diploma holder in Forestry from a recognized institution.
{b}
He should have been in the service of a State or the Central Government as a Gazetted Forest Officer for
a period of not less than ten year.
(V) In the case of an Accountant (Cat. 6) :
(i) The valuer must be a member of the Institute of Chartered Accountants or I.C.W.A. of India; and
(ii) he must have been in continuous practice as a Chartered Accountant for a period of not less than ten
years.
(VI) In the case of a Specialist in Jewellery, Precious Stones and Ornaments (Cat. 8 ) :
(i) The valuer must have been engaged in the business of Jewellery. Precious Stones or Ornaments for a period of
not less than ten years; and
(ii) his business or the business in which he is a partner must have had an annual turnover of not less than rupees
one lakh in Jewellery, precious stones or ornaments in each of the last three accounting years.
(VII) In the case of a Specialist in Works of Art (Cat. 9) :
The Valuer must be :
(i) A member or an ex-member of the Art Purchase Committee.
(ii) Principal or ex-Principal of a Government School of Art.
(ii) Artist member of ex-Artist Member of the General Council or Fellow of the National Academy of Art (Lalit
Kala Academy).
(iv)
Director or ex-Director, Assistant Director or ex-Assistant Director of National Museum. New Delhi.
(v) Officer-in-charge or Ex-Officer-in-charge, Director or ex-Director, Assistant Director or ex-Assistant Director
Salarjung Museum, Hyderabad.
(vi)
Director or ex-Director, Prince of Wales Museum, Mumbai.
(vii)
Superintendent or ex-Superintendent, Chennai Museum.
(viii)Director or ex-Director, Indian Museum, Kolkata.
(ix)
Curator or ex-Curator of the National Gallery of Modern Art, New Delhi.
(x) Director Ganeral or ex-Director General of Archaeology. Superintendent or Ex-Superintendent of
Archaeology.
(VIII)
In the case of Actuary (Cat. 10) :
(i) The Valuer must be a graduate of recognized University.
(ii) He must be member of an Institute of Actuaries which entitles him to act as an Actuary under the Insurance
Act.1938, and
(iii)
he must have been in practice as an Actuary for not less than ten years.
(IX) In the case of Valuer for Chemicals (Cat. 11) :
(a) He must be graduate in chemistry or chemicals with Technical Education and back ground from a recognized
Institution or University.
(b) He must have atleast ten years experience in Chemical branch with Government Undertaking or in an
important organization.
(X) In the case of Valuer for Automobile (Cat. 12) :
(a) He must be a graduate in Automobile Transportation Highway Engineering from a recognized Institution or
University.
(b) He must have atleast ten years experience in Automobile branch with Government Undertaking or in an
important organization.
(XI) In the case of Valuer for Marine (Cat. 13) :
(a) He must be a graduate in Marine from a recognized Institution or University.
(b) He must have atleast ten years experience in Marine branch with Government Undertaking or in an important
organization.
(XII)In the case of Valuer for Textile (Cat. 14) :
(a) He must be a graduate in Textile from a recognized Institution or University.
(b) He must have atleast ten years experience in Textile branch with Government Undertaking or in an important
organization.
(XIII)
In the case of Electronics, Computer Technology and Tele-communications (Cat. 15) :
(a) He must be a graduate in Electronics, Computer Technology & Tele-communication Engineering.
(b) He must have atleast ten years experience in the three sections stated above.
(XIV)
In the case of Ceramics Technology and Potteries (Cat. 16) :
(a) He must be a graduate in Ceramics Technology or Potteries.
(b) He must have atleast ten years experience in the sections stated above.
(XV)In the case of Aeronautical Engineering (Cat. 17) :
(a) He must be a graduate in Aeronautical Engineering.
(b) He must have atleast ten years experience in Aeronautical Engineering.
(XVI)
In the case of Metallurgical Engineering (Cat. 18) :
(a) He must be a graduate in Metallurgical Engineering.
(b) He must have atleast ten years experience in Metallurgical Engineering.
(XVII)
In the case of Production & Industrial Engineering (Cat. 19) :
(a) He must be a graduate in Production & Industrial Engineering.
(b) He must have atleast ten years experience in Production & Industrial Engineering.
(XVIII) In the case of Leather Technology (Cat. 20) :
(a) He must be a graduate in Leather Technology.
(b) He must have atleast ten years experience in Leather Technology.
(XIX)
Valuers approved by the Ministry of Finance under Section (4) of E.D. Act 1953 and under
Section 34AB of Amended Wealth Tax Act of 1972 and 1988 provided they are graduate Engineers.
3. ELIGIBILITY OF ASSOCIATES
All the qualifications shall be according to those required for a fellow except the requirement of experience
which shall be 5 years instead of 10 years.
or
Have passed the examination prescribed by the Institution of Valuers, New Delhi.
or
Such other examination as the Council may approve :
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 compledted 10 years experience in Valuation work .
4. ELIGIBILITY FOR LICENTIATES
Persons who have passed such examination as the Council may approve shall be eligible for Licentiateship and
shall be eligible for Associateship after they have passed the examination prescribed by the Institution.
5. ENTRANCE FEE AND SUBSCRIPTION
a) The Entrance Fee and Subscription payable by the members will be :
Class
Entrance
Fee
Fellow
Associate
Licentiate
Student
600.00
600.00
600.00
450.00
Annual
Subscription
600.00
600.00
600.00
600.00
Entrance Fee and Subscription for member residing out of India.
Entrance Fee : US $ 120/Annual Subscription : US $ 120/Transfer fee for higher grade of membership :Rs. 600.00
Reconsideration Fee Rs.500.00
All Subscriptions shall become due and payable on selection and subsequently on the 1st day of January in each
year.
6. COMPOSITION FEES
a)
Corporate members shall, at any time, have the option of becoming Corporate member for life on
payment in lump sum amount detailed below according to his age on next birthday :
Age Next
birthday
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
Amount
(Rs.)
13,500.00
13,335.00
13,163.00
12,998.00
12,825.00
12,660.00
12,488.00
12,323.00
12,150.00
11,985.00
11,813.00
11,648.00
11,475.00
11,310.00
11,138.00
10,890.00
10,635.00
10,388.00
10,125.00
9,788.00
Age next
birthday
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
Between
62 and 66
Between
67 and 70
Amount
(Rs.)
9,450.00
9,113.00
8,775.00
8,438.00
8,100.00
7,688.00
7,260.00
6,840.00
6,413.00
5,985.00
5,573.00
5,153.00
4,725.00
4,313.00
3,885.00
3,375.00
2,873.00
2,535.00
The above life membership fee includes the current year membership subscription except First Year Subscription.
b)
Members residing outside India can also become Life Member on payment in lump sum amount detailed
below according to his age on the next birthday :
Age Next
birthday
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
Amount
(Rs.)
27,000.00
26,663.00
26,625.00
26,138.00
25,650.00
25,313.00
24,975.00
24,638.00
24,300.00
23,963.00
23,625.00
23,288.00
22,950.00
22,613.00
22,275.00
21,780.00
21,263.00
20,768.00
20,250.00
19,575.00
Age next
birthday
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
Between
62 and 66
Between
67 and 70
Amount
(Rs.)
18,900.00
18,225.00
17,550.00
16,875.00
16,200.00
15,368.00
14,513.00
13,680.00
12,825.00
11,970.00
11,138.00
10,305.00
9,450.00
8,618.00
7,763.00
6,750.00
5,738.00
5,063.00
The above life membership fee includes the current year Membership subscription.
In addition to the above composition fee for life, the appropriate entrance fee and first year’s subscription
shall have to be paid by the member, including arrears if any.
Subscription for life shall be exclusive of any arrears of subscriptions that corporate members may owe to the
Institution at the time of their tendering subscription for life and such arrears shall be paid at the same time.
7.
PAYMENT OF ENTRANCE FEE AND SUBSCRIPTION
Every person becoming a Fellow of the Institution, shall pay his/her entrance fee and first year’s subscription
along with application for seeking membership, such subscription shall be considered as paid only upto the 31st
December following except in the case of those elected in the month of November and December, in which case
the subscription shall be deemed to be paid in respect of the ensuing year. Person elected between the 30th Day of
June and the Ist day of November in any year shall pay half year’s subscription for the current year.
8.
INDICATION OF CORPORATE MEMBERSHIP
Each Corporate Member shall be entitled to affix to his name the following initial letters to indicate his
membership of the Institution :
A Fellow may Affix F.I.V.
An Associate may affix A.I.V.
Fellow and Associates of the Institution may also use additional suffix i.e. APPROVED VALUER after
getting permission from the Council of the Institution on payment of Rs. 250/- after becoming the Life
Member.
The Council may from time to time approve further suffixes and shall give notification thereof to the
Corporate Members, but no suffix may be used unless and until notice of such approval by the Council has
been given.
9.
CERTIFICATES
The membership certificate and life member card shall be given to each corporate Life Member after he has
been duly elected and had paid his entrance fee, first year’s subscription along with life membership fee. All the
certificates and Life Member cards are the property of Institution and must be returned as and when membership
ceases. Licentiate will not be entitled to receive any membership certificate or any Life Member card.
The Licentiate cannot practice as an Independent Valuer being a non corporate member.
NOTE : In order to become licentiate member of this Institution, one is required to pay life membership fee
besides entrance fee of Rs.600/-, 1st years subscription of Rs.600/- (i.e. Rs.1200/-).
Cost of Form : Rs. 50/Entrance fee : Rs.600/Annual Sub. : Rs.600/Total amount payable Rs.1250/INDIA
Institution of Valuers
(Registered under The Societies Registration Act XXI of 1860)
4, 5 & 6, Vishal Market, Mukherjee Nagar (West), Civil Lines, Delhi 110 009
Telephone Nos. : 27135248 27445169, Telefax : 27445257
E-Mail : [email protected] G Web-site : www.institutionofvaluers.org
APPLICATION FOR FELLOW, ASSOCIATE OR LICENTIATE OR
FOR TRANSFER TO A HIGHER GRADE
1. Type or fill all columns in capital letters
2. Enclose a draft of Rs.1200/- drawn in favour of Institution of Valuers
Payable at Delhi/New Delhi.
3. In case transfer to a higher grade, mention ‘Transfer to a Higher Grade’ on top
of the application. Enclose a draft of Rs.600/-
FOR OFFICE USE
Received Rs. ...............................
Vide Receipt No. ..........................
Dated ..........................................
{Accountant}
{Secretary}
Received by the Office on ...................year................. with Rs.1200/- by ...........................Receipt No.....................................
Approved in the........................................Council Meeting held on ............................................. at ............................................
Approved by Council as FELLOW / ASSOCIATE / LICENTIATE (CLASS OF ASSET..................................)
Category ................................................ Registration Number
Signature...............................................
Deferred or Declined on ..................... year ..................
Chairman Council
Certificate of Membership sent on ......... year ............
No.
1. To the Council of the Institution of Valuers
Name (Surname
First) & address
should be in
BLOCK
LETTERS. Pine
Code No. and
name of state
must be
mentioned in the
address.
N.B. :- Application will
not be considered
without the photograph
and the attested
copies of testimonials
I.
......................................................................................................................................son/daughter
of
............................................................
.Address....................................................................................... ......................................................................
............................................................................................
...............................................
.PinCode.......................................State.....................................................
desire to be admitted to the
Institution of Valuers as a Fellow/Associate/Licentiate or for any category mentioned above for which the Council
thinks me eligible in accordance with the bye-laws as they now stand or as they hereafter be altered.
I. append hereto a full and accurate statement of my qualifications and experience.
UNDERTAKING
I the undersigned do hereby promise that, in the event of my election/selection as a Fellow/
Associate/Licentiate, I will be governed by the bye-laws and regulations of the Institution as they now are, or as they
may hereafter be altered and that, I will accept as final and binding the decisions of the Council in all matters dealt
with by them in accordance with the provisions to the bye-laws and regulations and will forthwith cease to describe
myself as a Member or to designate myself as belonging to the Institution in any other form, on receipt of a notice
from Secretary that, acting under powers conferred upon them by the bye-laws and regulations, the Council have
declared me to be no longer a Member of the Institution. I UNDERTAKE that I will promote the objects of the
Institution as far as may be in my power. I also UNDERTAKE to abide by the professional conduct rules and/or Code
of Ethics that the Council may frame from time to time.
I, further UNDERTAKE that in the event of my desire to resign from my membership of the Institution or
if I am expelled from the Membership of the Institution, I will pay the current subscription and arrears, if any due
against me and return to the Institution its Membership Certificate and Life Membership Card in case of Life
Membership issued to me, provided that on signifying in writing to the Honorary General Secretary for the time being
such desire to resign from the Institution or expelled from the membership of the Institution, I shall (after complying
with this UNDERTAKING) be free from the foregoing obligations.
I also UNDERTAKE that the Institution is entitled to recover the current year subscription, arrears of
subscription if any or other dues from me though Delhi Court of Law and I will be responsible to pay the cost of
expenses incurred in this respect by the Institution.
I accept responsibility for the accuracy of the particulars contained in this application with regard to my
qualifications and experience and agree that if I am elected the validity of my election shall depend upon the accuracy
of such particulars as required by the bye-laws of the Institution.
I also accept that I will demand the Certificate of Membership and Life Membership Card only after
becoming life member of the Institution.
Further, I also agree that I will not write myself as Approved Valuer without the prior permission of the
Council of the Institution and in the event of my membership ceases. I will withdraw in writing myself as
APPROVED VALUER.
Witness my hand this ...................................... day of ........................... year ........................
Signature of the Applicant ........................................................................................................
Demand Draft should be drawn in favour of the INSTITUTION OF VLUERS and crossed. The amount shall be refunded in the
event of the application being refused after deducting Rs.500/- as incidental charges.
(Use CAPITAL LETTERS)
Fix here your
passport size
photograph
Name (Surname first)
:
.......................................................................................................
Father’s Name
:
.......................................................................................................
Date of Birth
:
........................................................ Age : ....................................
Nationality
:
.......................................................................................................
Present Occupation
:
.......................................................................................................
.......................................................................................................
.......................................................................................................
PRESENT ADDRESS
..........................................................................................................
........................................................................................................
........................................................................................................
Pin Code : ...................................................................................
State : ...........................................................................................
Phone : (Residence) ...............................................................
Phone : (Office) ........................................................................
Mobile : .......................................................................................
Fax No. .......................................................................................
E-Mail : ........................................................................................
PERMANENT ADDRESS
..................................................................................................
..................................................................................................
..................................................................................................
..................................................................................................
Pin Code .................................................................................
State:............................................................................
We the undersigned, recommend .........................................................as in every respect a proper person to become a
Fellow/Associate/Licentiate of the Institution provided he passes the qualifying examination or has gained exemption there from. Our
initials against items of information in this application indicate that we confirm such information from our personal knowledge.
NAME & ADDRESS
(in Block Letters)
1................................................................................
2................................................................................
3................................................................................
SUPPORTERS
MEMBERSHIP NO.
F/A ........................................
F/A ........................................
F/A ........................................
SIGNATURE
...................................
...................................
...................................
The recompense’s signature should be those of a Corporate Member of the Institution who must sign from personal knowledge of the
Candidate. This Form, after being duly filled in, and signed by at least three sponsors, may be forwarded to the Secretary of the
Institution. IT MUST BE ACCOMPANIED BY ALL THE ATTESTED COPIES OF TESTIMONIALS as to character and
competence, and in confirmation of the statements made by the Candidate in this Application.
3.
CLASS OF ASSETS to which applicant is a valuer (Delete
other classes of assets which are not applicable to you)
{1}
Immovable property (other than agricultural lands,
plantations, forests, mines and quarries) but including
foundations, soil mechanics, structural engineering, public
health engineering and water technology.
{9}
Works of art including archaeological buildings, sites
and other objects.
{10}
Life interest, reversions and interest in expectancy.
{11}
Chemicals (for all types of chemical).
{2}
Agricultural lands (other than coffee, tea, rubber and
cardamom plantations).
{12}
Automobile including transportation and highway
engineering.
{3}
Coffee plantation, tea plantation, rubber plantation and
cardamom plantation.
{13}
Marine (ship, boats of all types).
{14}
Textile (all types of fibers, yarns and fabrics).
{4}
Forests.
{15}
{5}
Mines and quarries.
Computer technology including electronics and
telecommunication engineering.
{6}
Stocks, shares debentures, securities, shares in partnership
firms and of business assets including goodwill but excluding
those referred to in items No. 1 to 5 above and 7 to 20
belows.
{16}
Ceramics technology & Potteries.
{17}
Aeronautical Engineering including various types of
aeroplanes.
Machinery and Plant (Mechanical, Electrical , Chemical
Engineering).
{18}
Metallurgical engineering and engineering materials.
{19}
Production engineering and industrial engineering.
{7}
{8}
Jewellery.
{20}
Leather Technology.
Give date for
all items
Initials of
persons
verifying
each
statement
STATEMENT OF QUALIFICATION
To be filled in as far as possible by the applicant
Examinations Passed
4.
(Please attach copies of Certificates attested by a Supporter or a Gazetted Officer with his Seal)
General : (Non-Technical)
Name of Examinations
Passed
Examining authority
Year of passing
Technical
Education
(Please attach
copies of
Certificates
attested by a
Supporter or
Gazetted
Officer with
his Seal)
a
Name of Examinations
Passed
5.
Branch
Examining authority
Name of the
College/Institution/
University
Valuation works with which the Candidate has been connected
and the position held by him in connection with each
7.
Year of
p
a
s
s
i
n
g
Position held
6.
Training in Valuation Work
(Attach a separate sheet if space is not sufficient)
(In case of no experience-state nil)
State name and address of your Employers and the precise
position you held
8.
9.
Examinations
(State the most important Examinations passed excluding those mentioned in Sections 4 and 5)
10.
Titles and Degrees held by the candidate
11
Membership of other professional Institutions
12.
Particulars for publication in Green Book
whenever published
(Particulars should be given in BLOCK LETTERS only)
Fellow/Associate/Licentiate No. .......................................................... Category...........................
State...............................................
Name (Surname first) .....................................................................................................................
Qualification initials .........................................................................................................................
Complete address...........................................................................................................................
(only one address ..........................................................................................................................
is to be given)..........................................................................Pin Code No. ..................................
Telephone Nos. (Office)....................................................(Residence)..........................................
Fax No.................................................. E-Mail :..................................................
13.
Details if appointed as Valuer by Ministry of Finance
(Govt. of India or Chief Commissioner of Income-tax)
{1} Number and date of Notification/Letter
{2} Valid upto
{3} Category
Note : I have studied the rules and regulations of the Institution before signing this application.
I...........................................................................son of............................................................
Solemnly confirm and declare that the particulars given in the above application are true to the best of my knowledge and belief.
(Singnature of the Candidate)....................................................Date.......................................
(who must also sign the Undertaking on page 1)
(Registered under The Societies Registration Act XXI of 1860)
4, 5 & 6, Vishal Market, Mukherjee Nagar (West), Civil Lines, Delhi 110 009
Telephone Nos. : 27135248 27445169 Telefax : 27445257
E-Mail : [email protected] Web-site : www.institutionofvaluers.org
INDIA
Dear Applicant,
So you have decided to become a Valuer. Congratulations! However, you should be prepared to learn
many new things connected with economical, legal, financial and technical practices, as related to valuation.
The following instructions for filling your application are based on our long experience of going through
hundreds of applications every month. Correct filling of enclosed form will facilitate the
processing of your
application in a shorter time and save you from writing many letters to satisfy enquiries made from this end :
1.
Please read carefully the instructions given right on top of the form regarding filling your
form.
application
{a}
Fill in every column. No column is to be left blank. In case there is nothing to fill, write
suitable remarks. Incomplete filled in applications will be rejected.
{b}
Date of application should always be given on page 1 as well as on page 4.
{c}
All matter should be type written as far as possible.
2.
Read the UNDERTAKING on page 1 carefully. If you have any doubts about the following conditions,
do not apply.
3.
Underline your surname for identification.
4.
As per rules of the Institution only one category is allotted. Changes are also not possible. Please
indicate your choice of only one category carefully.
5.
You must be a graduate for Categories I & VII and suitably qualified for other categories to become a
corporate member. It is absolutely essential to provide an attested Photostat copy of the genuine
University Degree. Certificates or Marks Sheets are not accepted. Be sure to send this document with
your application. Do not send Marks Sheets or Certificates as substitute for the Degree.
6.
Send a proof of your date of birth. This should be either your High School certificate showing your date
of birth or a local Municipal birth certificate. Ration cards, passport or other forms of birth date proof are
not correct and reliable and will not be accepted.
7.
Your application will not be considered without the two documents stated above namely copy of
Engineering Degree and proof of date of birth. It is your job to supply these copies. In the absence of
these your application will be considered incomplete and rejected.
8.
Any certificate or document enclosed with your application should be properly folded to one size and
attached at the end of the application. These should not be put between the pages of the application. A list
of documents provided should be given in a covering letter for proper identification. Do not use different
inks or other colours in your application. The papers should not be stitched. but may be tied by a twine if
necessary.
9.
You should not send the same document twice or again and again. It increases the filing work
unnecessarily.
10.
Send clear and readable copies of the documents. It is your duty to do so. The documents should be in
English. Date of birth should be shown in Gregorian calendar. Unreadable or not clear documents will
mean rejection of your application. It is not possible to write a letter for small omissions.
11.
Lot of time is wasted in asking for information and documents. Take care that all documents are provided
with the application.
12.
The processing of application takes sometime and delay is caused if documents/written information is not
provided in time. No enquiries regarding the progress of your application within two months will,
therefore, be entertained. Moreover, it may mean rejection of your application.
13.
When applying for up gradation to higher category, you must state the purpose and reasons clearly for
your asking a promotion. Clearly state the change in qualification or increased experience which will
justify your asking for promotion to a higher grade.
14.
In order to facilitate uniformity in our records and also to make it convenient and facilitate
computerization in the very near future, it has been decided that printed form only will be issued by the
Head Quarters. The form has been priced at Rs.50/- + Registered Postage (Rs.30/-). No other form either
printed of zeroxed will be accepted.
I wish you good luck and success.
Yours faithfully
Sd/(P.C. Goel)
Hon. Gen. Secretary
ABSTRACT FROM THE RULES & REGULATIONS OF THE INSTITUTION OF VALUERS
FOR APPLICANTS SEEKING MEMBERSHIP OF INSTITUTION OF VALUERS
1. MEMBERSHIP OF THE INSTITUTION :The Institution shall consist of Four Classes of Members, i.e, FELLOWS, ASSOCIATES, LICENTIATES and
STUDENTS. The Licentiates and Students shall not be corporate members of the Institution and shall not be
eligible for election to the Council of the Institution and shall not have the right to vote at the meeting of the
Institution nor of a postal vote nor they shall be permitted to use any suffix of the Institution but shall be entitled
to in other respect to the privileges of the membership.
2. ELIGIBILITY OF ENROLMENT AS FELLOWS :(I) In the case of Engineer or Architect (Cat. 1, 5, 7 etc.) :
{a}
The valuer must be a graduate in Civil, Mechanical, Electrical and Mining Engineering or Architecture of
a recognized University or hold a Diploma which is recognized equivalent to bachelor of Engineering in any
branch of Engineering or Architecture.
{b}
He must have atleast ten years of experience in his own field.
(II) In the case of a Specialist in Agriculture and Farm Valuation (Cat . 2) :
{a}
The valuer must be a graduate in Agricultural Economics or Agricul
tural Science with atleast ten
years experience as a Farm Valuer.
or
{b}
He should have been in the service of a State Government for a total period of not less than ten years as :(i) An Agricultural Inspector; or
(ii) A tehsildar: or
(iii) A Land Valuation Officer: or
(iv) A Settlement Officer.
(III) In the case of a Specialist in Coffee Plantations (Cat. 3) :
A. The valuer must be the owner or manager of a Coffee Plantation of the size of at least 100 acres; and he must
have at least ten years experience in the plantation line.
B. In the case of a Valuers for Tea Estates (Cat. 3) :
{a}
He should be the owner or manager of a tea plantation of the size
of at least 100 acres which has a
factory for manufacturing tea,
and
{b}
he must have at least ten years experience in the plantation line.
(IV) In the case of a Valuer for Standing Forests (Cat. 4) :
{a}
He must be a Diploma holder in Forestry from a recognized institution.
{b}
He should have been in the service of a State or the Central Government as a Gazetted Forest Officer for
a period of not less than ten year.
(V) In the case of an Accountant (Cat. 6) :
(i) The valuer must be a member of the Institute of Chartered Accountants or I.C.W.A. of India; and
(ii) he must have been in continuous practice as a Chartered Accountant for a period of not less than ten
years.
(VI) In the case of a Specialist in Jewellery, Precious Stones and Ornaments (Cat. 8 ) :
(i) The valuer must have been engaged in the business of Jewellery. Precious Stones or Ornaments for a period of
not less than ten years; and
(ii) his business or the business in which he is a partner must have had an annual turnover of not less than rupees
one lakh in Jewellery, precious stones or ornaments in each of the last three accounting years.
(VII) In the case of a Specialist in Works of Art (Cat. 9) :
The Valuer must be :
(i) A member or an ex-member of the Art Purchase Committee.
(ii) Principal or ex-Principal of a Government School of Art.
(ii) Artist member of ex-Artist Member of the General Council or Fellow of the National Academy of Art (Lalit
Kala Academy).
(iv)
Director or ex-Director, Assistant Director or ex-Assistant Director of National Museum. New Delhi.
(v) Officer-in-charge or Ex-Officer-in-charge, Director or ex-Director, Assistant Director or ex-Assistant Director
Salarjung Museum, Hyderabad.
(vi)
Director or ex-Director, Prince of Wales Museum, Mumbai.
(vii)
Superintendent or ex-Superintendent, Chennai Museum.
(viii)Director or ex-Director, Indian Museum, Kolkata.
(ix)
Curator or ex-Curator of the National Gallery of Modern Art, New Delhi.
(x) Director Ganeral or ex-Director General of Archaeology. Superintendent or Ex-Superintendent of
Archaeology.
(VIII)
In the case of Actuary (Cat. 10) :
(i) The Valuer must be a graduate of recognized University.
(ii) He must be member of an Institute of Actuaries which entitles him to act as an Actuary under the Insurance
Act.1938, and
(iii)
he must have been in practice as an Actuary for not less than ten years.
(IX) In the case of Valuer for Chemicals (Cat. 11) :
(a) He must be graduate in chemistry or chemicals with Technical Education and back ground from a recognized
Institution or University.
(b) He must have atleast ten years experience in Chemical branch with Government Undertaking or in an
important organization.
(X) In the case of Valuer for Automobile (Cat. 12) :
(a) He must be a graduate in Automobile Transportation Highway Engineering from a recognized Institution or
University.
(b) He must have atleast ten years experience in Automobile branch with Government Undertaking or in an
important organization.
(XI) In the case of Valuer for Marine (Cat. 13) :
(a) He must be a graduate in Marine from a recognized Institution or University.
(b) He must have atleast ten years experience in Marine branch with Government Undertaking or in an important
organization.
(XII)In the case of Valuer for Textile (Cat. 14) :
(a) He must be a graduate in Textile from a recognized Institution or University.
(b) He must have atleast ten years experience in Textile branch with Government Undertaking or in an important
organization.
(XIII)
In the case of Electronics, Computer Technology and Tele-communications (Cat. 15) :
(a) He must be a graduate in Electronics, Computer Technology & Tele-communication Engineering.
(b) He must have atleast ten years experience in the three sections stated above.
(XIV)
In the case of Ceramics Technology and Potteries (Cat. 16) :
(a) He must be a graduate in Ceramics Technology or Potteries.
(b) He must have atleast ten years experience in the sections stated above.
(XV)In the case of Aeronautical Engineering (Cat. 17) :
(a) He must be a graduate in Aeronautical Engineering.
(b) He must have atleast ten years experience in Aeronautical Engineering.
(XVI)
In the case of Metallurgical Engineering (Cat. 18) :
(a) He must be a graduate in Metallurgical Engineering.
(b) He must have atleast ten years experience in Metallurgical Engineering.
(XVII)
In the case of Production & Industrial Engineering (Cat. 19) :
(a) He must be a graduate in Production & Industrial Engineering.
(b) He must have atleast ten years experience in Production & Industrial Engineering.
(XVIII) In the case of Leather Technology (Cat. 20) :
(a) He must be a graduate in Leather Technology.
(b) He must have atleast ten years experience in Leather Technology.
(XIX)
Valuers approved by the Ministry of Finance under Section (4) of E.D. Act 1953 and under
Section 34AB of Amended Wealth Tax Act of 1972 and 1988 provided they are graduate Engineers.
3. ELIGIBILITY OF ASSOCIATES
All the qualifications shall be according to those required for a fellow except the requirement of experience
which shall be 5 years instead of 10 years.
or
Have passed the examination prescribed by the Institution of Valuers, New Delhi.
or
Such other examination as the Council may approve :
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 compledted 10 years experience in Valuation work .
4. ELIGIBILITY FOR LICENTIATES
Persons who have passed such examination as the Council may approve shall be eligible for Licentiateship and
shall be eligible for Associateship after they have passed the examination prescribed by the Institution.
5. ENTRANCE FEE AND SUBSCRIPTION
a) The Entrance Fee and Subscription payable by the members will be :
Class
Entrance
Fee
Fellow
Associate
Licentiate
Student
600.00
600.00
600.00
450.00
Annual
Subscription
600.00
600.00
600.00
600.00
Entrance Fee and Subscription for member residing out of India.
Entrance Fee : US $ 120/Annual Subscription : US $ 120/Transfer fee for higher grade of membership :Rs. 600.00
Reconsideration Fee Rs.500.00
All Subscriptions shall become due and payable on selection and subsequently on the 1st day of January in each
year.
6. COMPOSITION FEES
a)
Corporate members shall, at any time, have the option of becoming Corporate member for life on
payment in lump sum amount detailed below according to his age on next birthday :
Age Next
birthday
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
Amount
(Rs.)
13,500.00
13,335.00
13,163.00
12,998.00
12,825.00
12,660.00
12,488.00
12,323.00
12,150.00
11,985.00
11,813.00
11,648.00
11,475.00
11,310.00
11,138.00
10,890.00
10,635.00
10,388.00
10,125.00
9,788.00
Age next
birthday
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
Between
62 and 66
Between
67 and 70
Amount
(Rs.)
9,450.00
9,113.00
8,775.00
8,438.00
8,100.00
7,688.00
7,260.00
6,840.00
6,413.00
5,985.00
5,573.00
5,153.00
4,725.00
4,313.00
3,885.00
3,375.00
2,873.00
2,535.00
The above life membership fee includes the current year membership subscription except First Year Subscription.
b)
Members residing outside India can also become Life Member on payment in lump sum amount detailed
below according to his age on the next birthday :
Age Next
birthday
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
Amount
(Rs.)
27,000.00
26,663.00
26,625.00
26,138.00
25,650.00
25,313.00
24,975.00
24,638.00
24,300.00
23,963.00
23,625.00
23,288.00
22,950.00
22,613.00
22,275.00
21,780.00
21,263.00
20,768.00
20,250.00
19,575.00
Age next
birthday
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
Between
62 and 66
Between
67 and 70
Amount
(Rs.)
18,900.00
18,225.00
17,550.00
16,875.00
16,200.00
15,368.00
14,513.00
13,680.00
12,825.00
11,970.00
11,138.00
10,305.00
9,450.00
8,618.00
7,763.00
6,750.00
5,738.00
5,063.00
The above life membership fee includes the current year Membership subscription.
In addition to the above composition fee for life, the appropriate entrance fee and first year’s subscription
shall have to be paid by the member, including arrears if any.
Subscription for life shall be exclusive of any arrears of subscriptions that corporate members may owe to the
Institution at the time of their tendering subscription for life and such arrears shall be paid at the same time.
7.
PAYMENT OF ENTRANCE FEE AND SUBSCRIPTION
Every person becoming a Fellow of the Institution, shall pay his/her entrance fee and first year’s subscription
along with application for seeking membership, such subscription shall be considered as paid only upto the 31st
December following except in the case of those elected in the month of November and December, in which case
the subscription shall be deemed to be paid in respect of the ensuing year. Person elected between the 30th Day of
June and the Ist day of November in any year shall pay half year’s subscription for the current year.
8.
INDICATION OF CORPORATE MEMBERSHIP
Each Corporate Member shall be entitled to affix to his name the following initial letters to indicate his
membership of the Institution :
A Fellow may Affix F.I.V.
An Associate may affix A.I.V.
Fellow and Associates of the Institution may also use additional suffix i.e. APPROVED VALUER after
getting permission from the Council of the Institution on payment of Rs. 250/- after becoming the Life
Member.
The Council may from time to time approve further suffixes and shall give notification thereof to the
Corporate Members, but no suffix may be used unless and until notice of such approval by the Council has
been given.
9.
CERTIFICATES
The membership certificate and life member card shall be given to each corporate Life Member after he has
been duly elected and had paid his entrance fee, first year’s subscription along with life membership fee. All the
certificates and Life Member cards are the property of Institution and must be returned as and when membership
ceases. Licentiate will not be entitled to receive any membership certificate or any Life Member card.
The Licentiate cannot practice as an Independent Valuer being a non corporate member.
NOTE : In order to become licentiate member of this Institution, one is required to pay life membership fee
besides entrance fee of Rs.600/-, 1st years subscription of Rs.600/- (i.e. Rs.1200/-).
Cost of Form : Rs. 50/Entrance fee : Rs.600/Annual Sub. : Rs.600/Total amount payable Rs.1250/INDIA
Institution of Valuers
(Registered under The Societies Registration Act XXI of 1860)
4, 5 & 6, Vishal Market, Mukherjee Nagar (West), Civil Lines, Delhi 110 009
Telephone Nos. : 27135248 27445169, Telefax : 27445257
E-Mail : [email protected] G Web-site : www.institutionofvaluers.org
APPLICATION FOR FELLOW, ASSOCIATE OR LICENTIATE OR
FOR TRANSFER TO A HIGHER GRADE
1. Type or fill all columns in capital letters
2. Enclose a draft of Rs.1200/- drawn in favour of Institution of Valuers
Payable at Delhi/New Delhi.
3. In case transfer to a higher grade, mention ‘Transfer to a Higher Grade’ on top
of the application. Enclose a draft of Rs.600/-
FOR OFFICE USE
Received Rs. ...............................
Vide Receipt No. ..........................
Dated ..........................................
{Accountant}
{Secretary}
Received by the Office on ...................year................. with Rs.1200/- by ...........................Receipt No.....................................
Approved in the........................................Council Meeting held on ............................................. at ............................................
Approved by Council as FELLOW / ASSOCIATE / LICENTIATE (CLASS OF ASSET..................................)
Category ................................................ Registration Number
Signature...............................................
Deferred or Declined on ..................... year ..................
Chairman Council
Certificate of Membership sent on ......... year ............
No.
1. To the Council of the Institution of Valuers
Name (Surname
First) & address
should be in
BLOCK
LETTERS. Pine
Code No. and
name of state
must be
mentioned in the
address.
N.B. :- Application will
not be considered
without the photograph
and the attested
copies of testimonials
I.
......................................................................................................................................son/daughter
of
............................................................
.Address....................................................................................... ......................................................................
............................................................................................
...............................................
.PinCode.......................................State.....................................................
desire to be admitted to the
Institution of Valuers as a Fellow/Associate/Licentiate or for any category mentioned above for which the Council
thinks me eligible in accordance with the bye-laws as they now stand or as they hereafter be altered.
I. append hereto a full and accurate statement of my qualifications and experience.
UNDERTAKING
I the undersigned do hereby promise that, in the event of my election/selection as a Fellow/
Associate/Licentiate, I will be governed by the bye-laws and regulations of the Institution as they now are, or as they
may hereafter be altered and that, I will accept as final and binding the decisions of the Council in all matters dealt
with by them in accordance with the provisions to the bye-laws and regulations and will forthwith cease to describe
myself as a Member or to designate myself as belonging to the Institution in any other form, on receipt of a notice
from Secretary that, acting under powers conferred upon them by the bye-laws and regulations, the Council have
declared me to be no longer a Member of the Institution. I UNDERTAKE that I will promote the objects of the
Institution as far as may be in my power. I also UNDERTAKE to abide by the professional conduct rules and/or Code
of Ethics that the Council may frame from time to time.
I, further UNDERTAKE that in the event of my desire to resign from my membership of the Institution or
if I am expelled from the Membership of the Institution, I will pay the current subscription and arrears, if any due
against me and return to the Institution its Membership Certificate and Life Membership Card in case of Life
Membership issued to me, provided that on signifying in writing to the Honorary General Secretary for the time being
such desire to resign from the Institution or expelled from the membership of the Institution, I shall (after complying
with this UNDERTAKING) be free from the foregoing obligations.
I also UNDERTAKE that the Institution is entitled to recover the current year subscription, arrears of
subscription if any or other dues from me though Delhi Court of Law and I will be responsible to pay the cost of
expenses incurred in this respect by the Institution.
I accept responsibility for the accuracy of the particulars contained in this application with regard to my
qualifications and experience and agree that if I am elected the validity of my election shall depend upon the accuracy
of such particulars as required by the bye-laws of the Institution.
I also accept that I will demand the Certificate of Membership and Life Membership Card only after
becoming life member of the Institution.
Further, I also agree that I will not write myself as Approved Valuer without the prior permission of the
Council of the Institution and in the event of my membership ceases. I will withdraw in writing myself as
APPROVED VALUER.
Witness my hand this ...................................... day of ........................... year ........................
Signature of the Applicant ........................................................................................................
Demand Draft should be drawn in favour of the INSTITUTION OF VLUERS and crossed. The amount shall be refunded in the
event of the application being refused after deducting Rs.500/- as incidental charges.
(Use CAPITAL LETTERS)
Fix here your
passport size
photograph
Name (Surname first)
:
.......................................................................................................
Father’s Name
:
.......................................................................................................
Date of Birth
:
........................................................ Age : ....................................
Nationality
:
.......................................................................................................
Present Occupation
:
.......................................................................................................
.......................................................................................................
.......................................................................................................
PRESENT ADDRESS
..........................................................................................................
........................................................................................................
........................................................................................................
Pin Code : ...................................................................................
State : ...........................................................................................
Phone : (Residence) ...............................................................
Phone : (Office) ........................................................................
Mobile : .......................................................................................
Fax No. .......................................................................................
E-Mail : ........................................................................................
PERMANENT ADDRESS
..................................................................................................
..................................................................................................
..................................................................................................
..................................................................................................
Pin Code .................................................................................
State:............................................................................
We the undersigned, recommend .........................................................as in every respect a proper person to become a
Fellow/Associate/Licentiate of the Institution provided he passes the qualifying examination or has gained exemption there from. Our
initials against items of information in this application indicate that we confirm such information from our personal knowledge.
NAME & ADDRESS
(in Block Letters)
1................................................................................
2................................................................................
3................................................................................
SUPPORTERS
MEMBERSHIP NO.
F/A ........................................
F/A ........................................
F/A ........................................
SIGNATURE
...................................
...................................
...................................
The recompense’s signature should be those of a Corporate Member of the Institution who must sign from personal knowledge of the
Candidate. This Form, after being duly filled in, and signed by at least three sponsors, may be forwarded to the Secretary of the
Institution. IT MUST BE ACCOMPANIED BY ALL THE ATTESTED COPIES OF TESTIMONIALS as to character and
competence, and in confirmation of the statements made by the Candidate in this Application.
3.
CLASS OF ASSETS to which applicant is a valuer (Delete
other classes of assets which are not applicable to you)
{1}
Immovable property (other than agricultural lands,
plantations, forests, mines and quarries) but including
foundations, soil mechanics, structural engineering, public
health engineering and water technology.
{9}
Works of art including archaeological buildings, sites
and other objects.
{10}
Life interest, reversions and interest in expectancy.
{11}
Chemicals (for all types of chemical).
{2}
Agricultural lands (other than coffee, tea, rubber and
cardamom plantations).
{12}
Automobile including transportation and highway
engineering.
{3}
Coffee plantation, tea plantation, rubber plantation and
cardamom plantation.
{13}
Marine (ship, boats of all types).
{14}
Textile (all types of fibers, yarns and fabrics).
{4}
Forests.
{15}
{5}
Mines and quarries.
Computer technology including electronics and
telecommunication engineering.
{6}
Stocks, shares debentures, securities, shares in partnership
firms and of business assets including goodwill but excluding
those referred to in items No. 1 to 5 above and 7 to 20
belows.
{16}
Ceramics technology & Potteries.
{17}
Aeronautical Engineering including various types of
aeroplanes.
Machinery and Plant (Mechanical, Electrical , Chemical
Engineering).
{18}
Metallurgical engineering and engineering materials.
{19}
Production engineering and industrial engineering.
{7}
{8}
Jewellery.
{20}
Leather Technology.
Give date for
all items
Initials of
persons
verifying
each
statement
STATEMENT OF QUALIFICATION
To be filled in as far as possible by the applicant
Examinations Passed
4.
(Please attach copies of Certificates attested by a Supporter or a Gazetted Officer with his Seal)
General : (Non-Technical)
Name of Examinations
Passed
Examining authority
Year of passing
Technical
Education
(Please attach
copies of
Certificates
attested by a
Supporter or
Gazetted
Officer with
his Seal)
a
Name of Examinations
Passed
5.
Branch
Examining authority
Name of the
College/Institution/
University
Valuation works with which the Candidate has been connected
and the position held by him in connection with each
7.
Year of
p
a
s
s
i
n
g
Position held
6.
Training in Valuation Work
(Attach a separate sheet if space is not sufficient)
(In case of no experience-state nil)
State name and address of your Employers and the precise
position you held
8.
9.
Examinations
(State the most important Examinations passed excluding those mentioned in Sections 4 and 5)
10.
Titles and Degrees held by the candidate
11
Membership of other professional Institutions
12.
Particulars for publication in Green Book
whenever published
(Particulars should be given in BLOCK LETTERS only)
Fellow/Associate/Licentiate No. .......................................................... Category...........................
State...............................................
Name (Surname first) .....................................................................................................................
Qualification initials .........................................................................................................................
Complete address...........................................................................................................................
(only one address ..........................................................................................................................
is to be given)..........................................................................Pin Code No. ..................................
Telephone Nos. (Office)....................................................(Residence)..........................................
Fax No.................................................. E-Mail :..................................................
13.
Details if appointed as Valuer by Ministry of Finance
(Govt. of India or Chief Commissioner of Income-tax)
{1} Number and date of Notification/Letter
{2} Valid upto
{3} Category
Note : I have studied the rules and regulations of the Institution before signing this application.
I...........................................................................son of............................................................
Solemnly confirm and declare that the particulars given in the above application are true to the best of my knowledge and belief.
(Singnature of the Candidate)....................................................Date.......................................
(who must also sign the Undertaking on page 1)
