Institution of Valuers

(Registered under The Societies Registration Act. XXI of 1860)

Plot No. 3, Parwana Road, Adjacent to Bal Bharti Public School, Pitampura, Delhi - 110034.
Telephone Nos. : 011-27012855 / 56 / 57
E-mail : indianvaluers@iov.co.in, Website : www.institutionofvaluers.net

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
application form.
{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 at a time. For second category
one is to pay Rs. 20,000/- (add 18% GST) for additional category.
5. Essential Documents : -
{a} Copy of Proof of Identity (Passport, Aadhaar Card, Pan Card, Voter ID card and
Driving license)
{b} Copy of Residence Proof (Passport, Voter ID card, Driving license, Aadhaar
Card, Utility bill which is not more than two months old)
{c} Copies of documents in support of educational qualifications and professional
qualifications alongwith their consolidated Mark Sheet.
{d} Copies of work experience documents.
{e} Copies of certificate of employment by the relevant employer(s), specifying the
period of such employment.
{f} Copy of Pan Card.
{g} Age Proof (SSC, SSLC and Local Municipal Birth Certificate)
Note :
(i) Please provide two different documents of proof of Identity & proof of residence.
(ii) All above documents copies should be self attested.
(iii) Your application will not be considered without above stated documents. In the absence
of these documents your application will be considered incomplete and rejected. P.T.O.
6. 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.
7. You should not send the same document twice or again and again. It increases the filing
work unnecessarily.
8. 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.
9. Lot of time is wasted in asking for information and documents. Take care that all documents
are provided with the application.
10. 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-three months will, therefore, be entertained. Moreover, it may mean rejection of
your application.
11. 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.
12. On selection please indicate if you want the Indian Valuer magazine in soft copy or hard
copy so that the same can be arranged as per your choice.
13. The decision of the Council shall be final and binding.
14. The Council shall have right to cancel or suspend the membership without assigning any
reason.
15. In case of any legal disputes with the Institution of Valuers, all matters/disputes are subject
to the exclusive jurisdiction of District Court, Delhi only.
16. As per the recent government notification, GST has become applicable on all payments
to Institution. At present it is 18% on all payments as payable to the Institution for the
membership and other such transactions.
17. The applicant is advised to verify his/her eligibility criteria carefully and furnish true and
correct information in the Application Form.
I wish you good luck and success.

Yours Sincerely

(Vinay K. Goel)
Hony. 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 members in the following orders :
Honorary, Corporate and Non-Corporate. The Honorary Member shall
comprise the class of Honorary Fellows. Corporate Members shall
comprise the classes of Fellows, Associates and Non- Corporate
Members shall comprise the classes of Licentiates and Student
Members.
2. ELIGIBILITY OF ENROLMENT AS FELLOWS :-
Every candidate for election as a Fellow or for transfer to the
class of Fellow must not be less than 35 years of age; and
(I) In case of Engineer, Surveyor or Architect :-
(i) The valuer must either be a graduate in Civil, Mechanical,
Electrical, and Mining Engineering, or Architecture of a
recognised University,
(ii) or, have passed Level – I and Level – II of the Institution
Examination prescribed by the Council,
(iii) or, have passed Section-A and Section-B examination of
The Institution of Engineers (India),
(iv) or be a member of a recognised Institute of Engineers,
Architects, Surveyors or School of Mines by passing the
requisite examination conducted by that Institute for the
purpose of its membership; the membership of which is
recognised as sufficient qualification for the purposes of
recruitment to superior posts and services under the Cen-
tral Government and shall have to pass two papers on
valuation and / or any other subjects in the examination
conducted by Institution of Valuers as suggested by the
Council from time to time and
(v) He must have been in practice as valuer not less than ten
years from the date of his obtaining the requisite educa-
tional qualification to become Fellow
(II) In the case of Specialist in Agriculture and Farm Valu-
ation :
(a) The valuer must be graduate in Agricultural Economics or
Agricultural Science with atleast ten years experience as a
Farm Valuer.
(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 Plantation :–
(i) The Valuer must be the owner or manager of a Coffee
Plantation of the size of at least 100 acres; and
(ii) He must have at least ten years experience in the plantation
line.
(IV) In the case of an Accountant :
(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 that ten years.
(V) In the case of a Specialist in Jewellery, Precious
Stones and Ornaments :
(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.
(VI) In the case of a Specialist in Works of Art : 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.
(iii) Artist member or ex-Artist Member of the General Council
of Fellow of the National Academy of Art (Lalit Kala
Akadami).
(iv) Director or ex-Director, Assistant Director or ex-Assistant
Director of the National Museum, New Delhi.
(v) Officer-in-charge or ex-Officer-in-charge, Director or ex-
Direc tor, Ass is tant Direc tor or ex-As sistant Director,
Salarjung Museum, Hyderabad.
(vi) Director or ex-Director, Prince of Wales Museum, Bombay.
(vii) Superintendent or ex-Superintendent, Madras Museum.
(viii) Director or ex-Director, Indian Museum, Calcutta.
(ix) Curator or ex-Curator of the National Gallery of Modern
Arts, New Delhi.
(x) Director General or ex-Director General of Archaeology,
Superintendent or ex-Superintendent or Archaeology.
(VII) In the case of an Actuary :
(i) The Valuer must be a graduate of recognised University,
(ii) He must be a 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.
(VIII) In the case of a Valuer for Tea Estates :
(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.
(IX) In the case of a Valuer for Standing Forests :
(a) He must be a Diploma holder in Forestry from a recognised
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 years.
(X) In the case of Valuer for Chemical :
(a) He must be a graduate in Chemical with Technical Educa-
tion and background from a recognised Institution or Uni-
vers ity.
(b) He must have atleast 10 years experience in Chemical
branch with Government Undertaking or in a important
organisation.
(XI) In the case of Valuer for Automobile :
(a) He must be a graduate in Automobile from a recognised
Institution or University;
(b) He must have atleast 10 years experience in Automobile
branch with Government Undertaking or in an important
Organisation.
(XII) In the case of Valuer for Marine :
(a) He must be a graduate in Marine from a recognised Institu-
tion or University;
(b) He must have atleast 10 years experience in Marine branch
with Government Undertaking or in an important organisation.
(XIII) In the case of Valuer for Textile :
(a) He must be a graduate in Textile from a recognised Institu-
tion or University;
(b) He must have atleast 10 years experience in Textile branch
with Government Undertaking or in an important organisation.
(XIV) In the case of Electronics, Computer Technology and
Tele-communications
(a) He must be a graduate in Electronics, Computer Technology
& Tele-communication Engineering
(b) He must have atleast 10 years experience in the three
sections stated above.
 (XV) In the case of Ceramics Technology and Potteries : (b) Entrance Fee and Subscription for member residing out of
(a) He must be a graduate in Ceramics Technology or Potteries. India.
(b) He must have atleast 10 years experience in the sections Entrance Fee : US $ 250/-
stated above. Annual Subscription : US $ 250/-
(XVI) In the case of Aeronautical Engineering : (c ) Transfer fee for higher grade of membership :Rs. 1200.00
(a) He must be a graduate in Aeronautical Engineering. (d) Reconsideration Fee Rs. 1000.00
(b) He must have atleast 10 years experience in Aeronautical All Subscriptions shall become due and payable on selection
Engineering. and subsequently on the 1st day of January in each year.
(XVII) In the case of Metallurgical Engineering : Note : Please add 18% GST as per point no. 18 of page no. 2.
(a) He must be a graduate in Metallurgical Engineering. 7. COMPOSITION FEES :-
(b) He must have atleast 10 years experience in Metallurgical (a) Corporate members shall, at any time, have the option of
Engineering. becoming Corporate member for life on payment in lump
(XVIII) In the case of Production & Industrial Engineering: sum amount detailed below according to his age on next
(a) He must be a graduate in Production & Industrial Engineer- birthday :
ing.
Age Next Amount Age next Amount
(b) He must have atleast 10 years experience in Production & birthday (Rs.) birthday (Rs.)
Industrial Engineering.
(XIX) In the case of Leather Technology: 26 20,300.00 47 13,700.00
27 20,000.00 48 13,200.00
(a) He must be a graduate in Leather Technology.
28 19,700.00 49 12,700.00
(b) He must have atleast 10 years experience in Leather Tech- 29 19,500.00 50 12,200.00
nology. 30 19,200.00 51 11,500.00
(XX) Valuers appointed by Ministry of Finance : Repealed 31 19,000.00 52 11,000.00
(XXI) In case of a post-graduate in valuation from 32 18,700.00 53 10,300.00
a recognised university : 33 18,500.00 54 9,600.00
34 18,200.00 55 9,000.00
(i) The valuer must be a post-graduate in valuation of real
35 18,000.00 56 8,400.00
estate / plant & machinery of a recognised University, and
36 17,700.00 57 7,700.00
(ii) He must have been in practice as valuer not less than ten 37 17,500.00 58 7,000.00
years . 38 17,200.00 59 6,500.00
3. ELIGIBILITY OF ASSOCIATES :- 39 17,000.00 60 5,800.00
Every candidate for election as an Associate or for transfer to 40 16,700.00 61 5,000.00
the class of Associate:- 41 16,300.00 Between
42 16,300.00 62 and 66 4,300.00
(i) Age - No Age Bar; and 15,600.00
43
(ii) must possesses educational qualification as prescribed 15,200.00 Between
44 3,800.00
for Fellow membership or such other qualification as the 14,700.00 67 and 70
45
Council may approve from time to time and 46 14,200.00 above 70 2,500.00
(iii) must have been in practice as valuer not less than five The above life membership fee includes the current year
years provided that in the case of a person passing Level membership subscription except First Year Subscription.
- I and Level - II of the Institution Examination prescribed by
Note : Please add 18% GST as per point no. 18 of page no. 2.
the Council or possess ing a post-graduate degree in
valuation from a recognised university, the provisions of (b) Members residing outside India can also become Life Member
this sub-rule shall have effect as if for the words "five on payment in lump sum amount detailed below according
years", the words "two years" had been substituted. to his age on the next birthday :
4. ELIGIBILITY FOR LICENTIATES :- Age Next Amount Age next Amount
Every candidate for election as an Licentiate or for transfer to birthday (Rs.) birthday (Rs.)
the class of Licentiate:-
26 40,500.00 47 27,300.00
(i) must not be less than 19 years of age; and 27 40,000.00 48 26,300.00
(ii) must be a diploma holder in Engineering, Surveying or 28 39,900.00 49 25,300.00
Architecture or must have passed such examination as 29 39,200.00 50 24,300.00
the Council may accept as equivalent or 30 38,500.00 51 23,100.00
(iii) must possesses educational qualification as prescribed 31 38,000.00 52 21,800.00
for fellow membership or such other qualification as the 32 37,500.00 53 20,500.00
Council may approve from time to time. 33 37,000.00 54 19,200.00
34 36,500.00 55 18,000.00
5. ELIGIBILITY FOR ENROLMENT AS STUDENTS :-
35 36,000.00 56 16,700.00
Every candidate for election as a Student member :- 36 35,400.00 57 15,500.00
(i) must not be less than 18 years of age; and 37 34,900.00 58 14,200.00
(ii) must possesses an educational qualification recognised 38 34,400.00 59 12,900.00
by the Council to be elected as a Student. 39 33,900.00 60 11,600.00
40 33,400.00 61 10,100.00
6. ENTRANCE FEE AND SUBSCRIPTION :-
41 32,700.00 Between
(a) The Entrance Fee and Subscription payable by the members 42 31,900.00 62 and 66 8,600.00
will be : 43 31,200.00 Between
Class Entrance Processing Annual 44 30,400.00 67 and 70 7,600.00
Fee Fee Subscription 45 29,400.00
46 28,400.00 above 70 5,100.00
Fellow 1200.00 1000.00 1200.00
The above life membership fee includes the current year
Associate 1200.00 1000.00 1200.00
Membership subscription.
Licentiate 1200.00 1000.00 1200.00
Student 900.00 1000.00 1200.00 Note : Please add 18% GST as per point no. 18 of page no. 2.
 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.
8. 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.
9. INDICATION OF CORPORATE MEM BERSHIP :-
Each Corporate Life Member shall be entitled to affix to his name
the following initial letters to indicate his membership of the Institution :
A Fellow life member may Affix F.I.V.
An Associate life member may affix A.I.V.
Fellow and As soc iates 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. 400/- after
becoming the Life M ember.
10. 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. 1200/-, 1st years subscription of Rs. 1200/-, Processing
fee Rs. 1000/- (i.e. Rs. 3400/-) + 18% GST.