CONSULTING ENGRS.

& APPROVED VALUERS WITH THE INCOME TAX / WEALTH TAX

DEPARTMENT, FELLOW OF INSTITUTION OF ENGINEERS & VALUERS
INCOME TAX REGISTRATION NO. W.B. Cat-1/65/C.C. of 1988 & W.B./CCIT-4/Kol/103/2017-18/registration Of Valuer/Kalyan Kumar Das
Mobile No.- 9681470118/9433543012/ 9831446778
E-mail: manojksen@yahoo.co.in/gmukherjee58@gmail.com/kalyankumardas461954@gmail.com
Main Office- Branch Office-Barasat Branch Office-Durgapur
75, Southern Avenue, 80/19, Mallick Bagan Main Gate, Durgapur
Kolkata- 700 029 Jessore Road, Barasat Paschim Bardhaman-713203
manojksen@yahoo.co.in Kolkata: - 700127 durgapurvaluers@gmail.com
kalyankumardas461954@gmail.com gmukherjee58@gmail.com ssenassociates7@gmail.com
Mob :- 9681470118/9433543012 Mob :- 9681470118/7439636788 Mob :- 9635455086/7908359241

Format-A
FORMAT OF VALUATION
(TO BE USED FOR ALL PROPERTIES OF VALUE UPTO RS.5 CRORES)
VALUATION REPORT IN RESPECT OF SITE AND BUILDING)
JOB NO. SBI 83/2022-2023 DATED:
14.01.2023
TO RELATIONSHIP MANAGER
STATE BANK OF INDIA,
SME -HOWRAH BRANCH,
239,PANCHANANTALA ROAD,
S.K.ROY BUILDING,
HOWRAH-711101
VALUATION REPORT (IN RESPECT OF LAND & BUILDING)
(To be filled in by the Approved Valuer)
LOCATED AT
ADDRESS: HOLDING NO.97, NARASINGHA DUTTA ROAD, P.O. KADAMTALA,
P.S. BANTRA, DIST.HOWRAH, PIN.711101, WEST BENGAL,
JURISDICTON: HOWRAH MUNICIPAL CORPORATION, WARD
NO.24,BOROUGH NO.III

OWNERS: 1. SRI SANDIP SARKAR S/O SUNIL SARKAR

2. SMT.DEEPA SEN(SARKAR) W/O SRI SANDIP SARKAR
BORROWER: M/S.S.CUBE CONSULTANCY SERVICES
On the instructions received from Asst. General Manager State Bank of India, Howrah Branch, West Bengal and our
subsequent engagement, M/S S. Sen & Associates has been appointed to estimate the Market Value of Land and
Building located at the above address. Accordingly, our professional has undertaken the inspection of the said
property and the report on valuation is based on the facts, figures, documents, particulars, information so far obtained
by us or made available to us during the said inspection and to the best of our knowledge & judgment, our report is as
follows:
NAME & ADDRESS OF BRANCH State Bank of India, SME -Howrah Branch, 239,Panchanantala Road,
: S.K.Roy Building, Howrah-711101,West Bengal
Page 1 of 18
NAME OF CUSTOMER(S)/BORROWER UNIT : 1. SRI SANDIP SARKAR S/O SUNIL SARKAR
2. SMT.DEEPA SEN(SARKAR) W/O SRI SANDIP SARKAR
(CUSTOMER A/C-M/S.S.CUBE CONSULTANCY SERVICES)
CUSTOMER DETAILS
Name : 1. SRI SANDIP SARKAR S/O SUNIL SARKAR
2. SMT.DEEPA SEN(SARKAR) W/O SRI SANDIP SARKAR
1 (CUSTOMER A/C-M/S.S.CUBE CONSULTANCY SERVICES)

Application No. Not applicable

2 PROPERTY DETAILS The subject property, consisting of Freehold land admeasuring 2.00
Kattah 12.00 Chittack 20.00 Sq. ft equivalent to 4.5833 Decimal more
or less (As per Deed), 2.00 Kattah 9.00 Chittack 00.00 Sq. ft
equivalent to 4.2281 Decimal more or less (As per Deed of
Declaration), comprising Single storied residential building
admeasuring covered area 900.00 Sq. ft more or less (As per Deed).
Address : 97, Narasingha Dutta Road, P.O. Kadamtala, P.S. Bantra, Dist.
Howrah, Pin.711101, West Bengal
Nearby Landmark/Google Map Landmark Near Shibaji Sangha/Yogomaya Cinema Hall
Independent access to the Property The Subject property can be access from 3’0’’ wide Common passage
leading from Narasingha Dutta Road
Documents Details : Yes/No Name of Approving Authority Approval No.
Layout Plan : No Not provided Not aware
Building Plan : Yes Not provided Not aware
Construction Permission : No Not provided Not aware
Legal Documents Yes Mrs. Sonali Chatterjee, Advocate Not aware
:
dated 03.11.2021
List of Documents :
3. Deed : Copy of Sale deed No. I-5995/2017 dated 13.04.1999 registered in
favour of owner
Deed of Declaration : Copy of Deed of Declaration No. I-2424/19 dated 24.04.2019
Porcha : Copy of Porcha No. 0515457 dated 14.11.2018 in the name of Smt.
Deepa Sen (Sarkar) W/O Sri Sandip Sarkar and Porcha No. 0515457
dated 14.11.2018 in the name of Sri Sandip Sarkar S/O Sunil Sarkar
Site Plan : Copy of Site Plan
Legal Report Copy of Legal Search Report Mrs. Sonali Chatterjee, Advocate dated
:
03.11.2021
BRIEF DESCRIPTION OF THE PROPERTY: The subject property, consisting of Freehold Bastu land admeasuring 2.00
Kattah 12.00 Chittack 20.00 Sq. ft equivalent to 4.5833 Decimal more or less (As per Deed), 2.00 Kattah 9.00
Chittack 00.00 Sq. ft equivalent to 4.2281 Decimal more or less (As per Deed of Declaration & TIR) and residential
building admeasuring covered area 900.00 Sq. ft more or less (As per Deed, Deed of Declaration & TIR). More
4
details are furnished below.
SURVEY DETAILS OF THE PROPERTY: Mouza- Bantra, Sheet No.57, J.L. No. 01, L.R. Dag No.306, L.R. Khatian No.67,
184, 228, 269,454,709 & 710 Holding No.97, Narasingha Dutta Road, P.O. Kadamtala, P.S. Bantra, Dist. Howrah,
Pin.711101, West Bengal, Under the of jurisdiction of Howrah Municipal Corporation, Ward No.24, Borough No.III
5 Physical Details : Adjoining Properties
As per Deed (Land & Building) Land & Building-Present location
North : By the Holding No.100, Narasingha By the Double storied residential building of other
Dutta Road thereafter
South : By the Holding No.96+98/1, By the Four storied residential building of other
Narasingha Dutta Road
East : By the Holding No.96+98/1/2, By the Five storied residential building of other
Narasingha Dutta Road
West : By the 3’0’’ wide common passage By the common passage thereafter residential

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 then Holding No.97/1, Narasingha building of other
Dutta Road
Matching boundaries : Yes
Plot demarcated : Yes
Approved land use : Residential use
Type of Property : Residential building
Plotted/Flat : Plotted
Number of Rooms : Mentioned below-
Bed Room : Three Nos.
Living cum Dining Room : No.
Kitchen : One No.
Toilet : Two Nos.
Balcony : No.
Stairhead : One No.
6 TENURE/OCCUPANCY DETAILS
Status of Tenure : Under the possession of Owners
Owned/Rented : Owned
No. of years of Occupancy : Since purchase
Relationship of Tenant with owner : N/A
STAGE OF CONSTRUCTION (FOR WHICH VALUATION REPORT IS SOUGHT)
Stage of construction : Completed in all respect
6 Under Construction/Completed : Completed in all respect
If Under Construction, Extent of : Completed in all respect
Completion
VIOLATION IF ANY OBSERVED : No
7 Nature and extent of violations : Not Observed
AREA DETAILS OF THE PROPERTY
Site area :
As per Deed
Deed No. Dag No. Khatian No. Land area Category
Kattah Chittack Sq. ft Decimal
I-5995/2017 306 67, 184, 228, 269,454 2.00 12.00 20.00 4.5833 Bastu
Total 2.00 12.00 20.00 4.5833
As per Deed of Declaration
Deed of Declaration Dag No. Khatian No. Land area Category
Kattah Chittack Sq. ft Decimal
I-2424/19 306 67, 184, 228, 269,454 2.00 9.00 00.00 4.2281 Bastu
7 Total 2.00 9.00 00.00 4.2281
As per Porcha
Porcha No. L.R. Plot No. L.R. Khatian No. Land area in Acre Land area in Category
Decimal
0515457 306 709 0.0206 2.06 Bastu
0515457 306 710 0.0206 2.06 Bastu
Total 0.0412 4.12
Plinth Area
As per Deed : As per Measurement
Floor Plinth Area in Sq. ft : Floor Plinth Area in Sq. ft
Ground Floor 900.00 : Ground Floor 900.00
Total 900.00 : Total 900.00
Carpet Area :
As per Deed : As per Measurement

Page 3 of 18
 Floor Plinth Area in Sq. ft Carpet area in Sq. ft Plinth Area in Sq. ft Carpet Area in Sq. Ft

Ground Floor 900.00 818.1818 900.00 818.1818

Total 900.00 818.1818 900.00 818.1818
Carpet area = Built Up area / 1+10% of Built-Up area. (Treating 1 as Built-Up area)
N.B. As per present market trend generally Built-Up area for such type of building may vary between 10-15%.
we are considering 10%.
Saleable Area : Land and Building
Remarks : Not as Such
VALUATION
i) Mention the value as per Government : West Bengal Government Approved Rates obtained from
Approved Rates also https://wbregistration.gov.in. is Rs. 51,89,030/-for 4.2281 Decimal
land.
The developed land under consideration is adjacent to Common
passage, the rate of such landed properties is highest in compare to
other type of land. On surveying local market rate, it was revealed
that the such type of developed residential use land adjacent to
Common passage is generally used to sell/purchase by the willing
parties @ Rs.12,00,000/-to Rs.13,00,000/-Decimal for developed
land, depending upon site, situation, frontage, depth, nature and
existing use. So, it is prudent to apply average rate taking into
consideration a conservative approach. The average rate of land is
thus estimated as Rs.12,50,000/ Decimal. As regards latest deals
/transaction mention may be made that no documentary evidence in
support was provided during inspection.
In case of variation of 20% or more in It may please be noted that the state government of West Bengal had
the valuation proposed by the valuer reduced the prevailing Circle Rate/IGR Rate of all immovable properties vide
and the Guideline Value provided in Notification No.2145 – F.T./ FT/O/1A-01/2022dated 29.12.2022 for the
the state Govt. notification or Income benefit of the Public in general to combat the economic downturn due to
ii) : COVID-19 pandemic which remains valid till March 31,2023.
Tax Gazette justification on variation
Keeping in view the Govt. of West Bengal decision regarding reduction in
has to be given the prevailing Circle Rate/IGR Rate of all immovable properties, we are
considering Un-depreciated Market rate by adding 20% or little bit more of
State Govt. Rate displayed in their Web-site to arrive the Fair Market Value.
SUMMARY OF VALUATION
i). GUIDELINE RATE OBTAINED FROM THE WEB SITE OFFICE (EVIDENCE THEREOF TO BE ENCLOSED)
Web Sites Rate per Decimal in Rs. Total land area in Decimal Total Value in Rs.
W.B. Govt. Rate 12,27,272.00 4.2281 51,89,030.00
Magickbricks.Com Not Found Not Found Not Found
99 Acres.Com Not Found Not Found Not Found

Page 4 of 18
 Market Value: - Rs:51,89,030/-

From the above it appears that the Govt. Web site rate is reasonable in comparison to Local rate and other web
site rates as of now keeping in view the development of surrounding areas, marketability, connectivity, Demand
of Vacant land etc. This rate cannot be taken as a barometer for assessing the fair market value. This rate is for
assessing the stamp duty and apparently has no relationship with market trends that takes into consideration
such factors as location, shape & size, nature of surrounding, tenure & status of the land usage, demand & supply
of the land etc. Hence after comparing Web-site rate and Local Market survey rate prevailing as on the date of
inspection it is prudent to apply average rate taking into consideration a conservative approach. The rate of land
is estimated as Rs.12,50,000.00 per Decimal.
8 PART-A (VALUATION OF LAND):
For the purpose of this valuation assignment, market value of the land parcel has been estimated based on the
sales comparable method / guideline rate of land under market approach with appropriate discount / premium

Page 5 of 18
 factor considered based on the expert’s opinion on the specialty use of the property.
This method is applicable to all properties that are capable of being bought and sold in the market. A comparison
is made for the purpose of valuation with similar properties that have recently been sold in the market and thus
have a transaction price. The sales comparison approach is the preferred approach when sales data are available.
The sales prices of comparable properties are usually considered the best evidence of market value of the
property being valued. The sales comparison method models the behavior of the market by comparing the
property being appraised with similar properties that have recently been sold or for which offers to purchase
have been made. Comparable properties are selected for similarity to the subject property considering attributes
like age, size, shape, quality of construction, building features, condition, design, gentry, etc. Their sale prices are
then adjusted for their difference from the subject property. Finally, a market value for the subject property is
estimated from the adjusted sales price of the comparable properties.
We have gathered the guideline rates (Circle Rates) and made market inquiries of sales of land parcels or land
parcels available for sale in the vicinity of the Subject Property. We have conducted a market survey in the vicinity
of the Subject Property where land parcels have been transacted or are available for sale to estimate the land
rate. Our sources of the market survey and enquiries include:
- local residents,
- Government employees of local authorities (Sub Registrar, etc.),
- landlords,
- real estate developers,
- real estate agents, etc.
The direct comparison model takes into consideration specific parameters as mentioned in the model below,
which are most likely to have an impact on the valuation of the property.
i) Physical attributes of the site
ii) Land use status
iii) Development status
iv) Location and neighborhood
Minimum Realizable Market Value and Distress Value: -
The calculated Depreciated Replacement Cost gives the fair and reasonable replacement value of an asset taking
into consideration the vastness of the land. This price may be technically correct for replacement of the land but
the seller of this property may not be able to find a buyer, in open market, who is ready to expend this price. In
the open market the value of an asset depends not upon its usefulness only but also on the future demand and
such incalculable factors as the popularity of the location of the property, economic condition of the local
populace, proximity of some important public institution or even the sentimental attachment of a purchaser. In
assessing the Realizable /Distress Value, therefore, we shall try to be as pragmatic as possible keeping in view the
general trend of market forces to the maximum possible extent.
From the above, our estimated Minimum Realizable Value of the assets will be 90% and Distress Value of the
assets will be 80% of their Depreciated Replacement Cost.
Assessed /adopted rate of Valuation : Rs. 12,50,000.00 per Decimal
Estimated value of land : Land area x Rate per Decimal = 4.2281 Decimal @ Rs. 12,50,000/
Decimal = 4.2281 x Rs.12,50,000.00 per Decimal = Rs. 52,85,125.00
9 BUILDING
DETAILS OF VALUATION- In arriving at the valuation as per this method the following assumptions have been made:
Since, the details of estimate and costs of individual items of construction are not known to us, a rate per sq. ft. for
the building of the superstructure has been taken into our calculation which has been based on market rates of
building materials as well as labour charges estimated to be prevalent at present.
DEPRECIATION- The depreciation that depends upon the spent and remaining life of the building. In the Instant case
the age of the building is 20 years hence depreciation has been considered as follows treating the estimated life of
the building is 80 Years.
Rate of depreciation = (20 x 0.9/80 x 100) % = 22.50 %
Sr. no. Particulars of Plinth area Estimated replacement Replacement cost Depreciation Net value after
item (Sq. ft) rate of construction in Rs. (Rs.) (Rs.) depreciation
(Sq. ft) (Rs.)
1 Ground Floor 900.00 1500.00 13,50,000.00 3,03,750.00 10,46,250.00
Total 13,50,000.00 3,03,750.00 10,46,250.00
Or say Rs. 10,46,000.00

Page 6 of 18
 Part C-(Extra items)
1 Portico
(Amounts in Rs.) : 0.00
2 Ornamental front door : 0.00
3 Sit out/Verandah with Steel grills : 0.00
4 Overhead water tank : 0.00
5 Extra steel /Collapsible gates : 0.00
Total : 0.00
Part D-(Amenities)
(Amounts in Rs.)
1 Wardrobes-, : 0.00
2 Glazed Tiles : 0.00
3 Extra sinks and Bath Tub : 0.00
4 Marble /Ceramic tiles flooring : 0.00
5 Interior decorations : 0.00
6 Architectural elevation works : 0.00
7 Paneling works : 0.00
8 Aluminium works : 0.00
9 Aluminium hand rails : 0.00
10 False Ceiling : 0.00
Total 0.00
Part E-(Miscellaneous)
1 Separate toilet room : 0.00
2 Separate lumber room : 0.00
3 Separate water tank/sump : 0.00
4 Trees, gardening : 0.00
Total : 0.00
Part F-(Services)
1 Water supply arrangements : 0.00
2 Drainage arrangements : 0.00
3 Compound wall : 0.00
4 C.B. deposits, fittings ,M.S. gate etc : 0.00
5 Pavement/Pathways : 0.00
Total : 0.00

Total abstract of the entire property

Total value in Rs.
Part Land :
A
Part B Building : 52,85,125.00 10,46,000.00
Part Extra items :
Part Amenities : 0.00
Part
D E Miscellaneous : 0.00
Part F Services : 0.00
Total : 0.00 63,31,125.00
Or say Rs. : 63,31,000.00
(Valuation: Here, the approved valuer should discuss in details his approach (Market Approach, Income Approach and
Cost Approach) to valuation of property and indicate how the value has been arrived at, supported by necessary
calculation. Also, such aspects as impending threat of acquisition by government for road widening / public service
purposes, sub merging & applicability of CRZ provisions (Distance from sea-coast / tidal level must be incorporated)
and their effect on i) Saleability ii) Likely rental value in future and iii) any likely income it may generate may be
discussed).
VALUATION METHODOLOGY/APPROACH
Valuation: Here the approved valuer should discuss in detail his approach (Market Approach, Income approach and
cost Approach)

Page 7 of 18
to be valuation of property and indicate how the value has been arrived at, supported by necessary calculations.
Also, such aspects as i) Sale ability ii) Likely rental values in future in iii) Any likely incomes it may generate ,may be
discussed).
Photograph of owner/representative with property in background to be enclosed.
Screen shot of longitude/latitude and co-ordinates of property using GPS/Various Apps/Internet
Valuation Methodology
We have adopted the Market approach Method (Direct comparison) & Cost approach – Summation Method
We have adopted the summation method under cost approach. This method involves following steps:
• Estimate the market value of land
This valuation is based on a number of assumptions as follows:
Area of land has been taken from area statement provided by the Client
Photograph of owner/representative with property in background to be enclosedenclosed.
Screen shot of longitude/latitude and co-ordinates of property using
GPS/Various Apps/Internet sites- Enclosed

d) Summary of Valuation
SUMMARY FAIR
MARKET
VALUE (REALIZABLE VALUE) (DISTRESS VALUE)
(90% OF FAIR VALUE& (80% OF FAIR VALU &
ROUNDED OFF) ROUNDED OFF)
52,85,125.00
LAND 47,56,613.00 42,28,100.00
BUILDING 10,46,000.00 9,41,400.00
8,36,800.00
TOTAL 56,98,013.00
63,31,125.00 50,64,900.00
Or say Rs. 63,31,000.00 56,98,000.00 50,65,000.00
CONCLUSION & VALUATION CERTIFICATE: - FROM THE DETAILS GIVEN ABOVE
FAIR MARKET VALUE : RS. 63,31,000.00
(RUPEES SIXTY-THREE LAC THIRTY-ONE THOUSAND
ONLY)
REALIZABLE VALUE : RS. 56,98,000.00
(10% LESS THAN FAIR MARKET (RUPEES FIFTY-SIX LAC NINTY EIGHT THOUSAND
VALUE & ROUND OFF) ONLY)
FORCED SALE VALUE : RS. 50,65,000.00
(20% LESS THAN FAIR MARKET (RUPEES FIFTY LAC SIXTY-FIVE THOUSAND ONLY)
VALUE & ROUND OFF)
INSURABLE VALUE : RS. 6,28,000.00
(RUPEES SIX LAC TWENTY-EIGHT THOUSAND ONLY)

10. Assumptions/Remarks
i) Qualification in TIR/Mitigation suggested, if any. As per Advocate TIR report
ii) Property is SARFAESI compliant: Yes/No. Yes
iii) Whether property belongs to social No
infrastructure like hospital, school, old age home
etc.
iv) Whether entire piece of land on which the unit is To be Mortgage
set up/property is situated has been mortgaged
or to be mortgaged.

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 v) Details of last two transactions in the As regards latest deals /transaction about last two
locality/area to be provided, if available. transactions in the locality/area are not available
from ADSR office.
vi) Any other aspect which has relevance on the As regards lands the actual market price in the
value or marketability of the property. locality is much more than the price shown in the
Government Web site rates.
11. Declaration
i) The property was inspected by the undersigned on 06.01.2023
ii) The undersigned does not have any direct/indirect interest in the property
iii) The information furnished herein is true and correct to the best of our knowledge.
iv) I have submitted Valuation report directly to the Bank.
12. Name, Address & Signature of the Valuer with Wealth Tax Registration No.
Name of the Valuer: S Sen & Associates
Address of the valuer:
Main Office-75, Southern Avenue, Kolkata- 700 029
Branch Office-80/19, Mallick Bagan, Jessore Road, Barasat, Kolkata: - 700127
Branch Office-Durgapur Main Gate, Durgapur, Paschim Bardhaman-713203
Wealth Tax Registration No.: W.B. Cat-1/65/C.C. of 1988 & W.B./CCIT-4/Kol/103/2017-18

Date of Valuation:14.01.2023 Signature of the valuer

13. Enclosures
a) Layout plan sketch of the area in which the Latitude-22.58337419N & longitude-88.32250107E
property is located with latitude and longitude. Coordinates-22°35'00.2"N 88°19'21.0"E
b) Building Plan. No
c) Floor Plan. Yes
d) Photograph of the property (including geo- Yes
stamping with date) and owner (in case of
housing loans, if borrower is available) including
a “Selfie” of the Valuer at the site.
e) Certified copy of the approved / sanctioned plan No
wherever applicable from the concerned office.
f) Google Map location of the property. Yes, enclosed
g) Price trend of the Property in the locality/city Yes, enclosed
from property search sites viz. Magickbrick.com,
99Acre.com, Makan.com etc.
h) Any other relevant documents/extracts. As information available during inspection there is
no impending threat about road widening or
Compulsory acquisition of land by local or Central
Govt. for the purpose of public work building
infrastructure, urbanisation, development and
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 industrialisation regarding the property.
AS A RESULT OF MY APPRAISAL AND ANALYSIS, IT IS MY CONSIDERED OPINION THAT THE
PRESENT FAIR MARKET VALUE OF THE ABOVE PROPERTY IN THE PREVAILING CONDITION
WITH AFORESAID SPECIFICATIONS IS 63,31,000.00 (RUPEES SIXTY-THREE LAC THIRTY-ONE
THOUSAND ONLY)). THE BOOK VALUE OF THE ABOVE PROPERTY IS (NO DOCUMENTERY
EVIDENCE WAS NOT PROVIDED). THE REALIZABLE VALUE OF THE ABOVE PROPERTY IS RS.
56,98,000.00 (RUPEES FIFTY-SIX LAC NINTY EIGHT THOUSAND ONLY). THE DISTRESS VALUE
RS. 50,65,000.00 (RUPEES FIFTY LAC SIXTY-FIVE THOUSAND ONLY).

Signature
Place: Kolkata
Date:
(Name and Official Seal of the Approved Valuer)

The undersigned have inspected the property detailed in the Valuation Report dated _____________
on__________. We are satisfied that the fair and reasonable market value of the property is Rs. ____________.
(Rupees____________________ only).

Signature
Date: (Name of the Branch Manager with Official Seal)
Enclosure: -
1. Declaration-cum-undertaking from the valuer (Annexure-IV)
2. Model code of conduct for valuer (Annexure)

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Page 11 of 18
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Page 13 of 18
Page 14 of 18
 (ANNEXURE-I)
FORMAT OF UNDERTAKING TO BE SUBMITTED BY INDIVIDUALS/ PROPRIETOR/ PARTNERS/ DIRECTORS
DECLARATION- CUM- UNDERTAKING
I. Sri Kalyan Kumar Das, Partner of S.SEN & ASSOCIATES do hereby solemnly affirm and state that.
a. I am a citizen of India
b. I will not undertake valuation of any assets in which I have a direct or indirect interest or become so interested at
any time during a period of three years prior to my appointment as valuer or three years after the valuation of assets
was conducted by me
c. The information furnished in my valuation report dated 14.01.2023 is true and correct to the best of my knowledge
and belief and I have made an impartial and true valuation of the property.
d. I have personally inspected the property on 06.01.2023 The work is not subcontracted to any other valuer and
carried out by myself.
e. Valuation report is submitted in the format as prescribed by the Bank
f. I have not been depanelled/ delisted by any other bank and in case any such deplanement. by other banks during my
empanelment with you, I will inform you within 3 days of such deplanement.
g. I have not been convicted of any offence and sentenced to a term of imprisonment
h. I have not been found guilty of misconduct in professional capacity
i. I have not been declared to be unsound mind
j. I am not an undischarged bankrupt, or has not applied to be adjudicated as a bankrupt
k. I am not an undischarged insolvent
l. I have not been levied a penalty under section 271J of Income-tax Act, 1961 (43 of 1961) and time limit for filing
appeal before Commissioner of Income tax (Appeals) or Income-tax Appellate Tribunal, as the case may be has
expired, or such penalty has been confirmed by Income-tax Appellate Tribunal, and five years have not elapsed after
levy of such penalty
m. I have not been convicted of an offence connected with any proceeding under the Income Tax Act 1961, Wealth Tax
Act 1957 or Gift Tax Act 1958 and
n. My PAN Card number/Service Tax number as applicable is AAKFS8592D
o. I undertake to keep you informed of any events or happenings which would make me ineligible for empanelment as
a valuer
p. I have not concealed or suppressed any material information, facts and records and I have made a complete and full
disclosure
q. I have read the Handbook on Policy, Standards and procedure for Real Estate Valuation, 2011 of the IBA and this
report is in conformity to the “Standards” enshrined for valuation in the Part-B of the above handbook to the best of
my ability
r. I have read the International Valuation Standards (IVS) and the report submitted to the Bank for the respective
asset class is in conformity to the “Standards” as enshrined for valuation in the IVS in “General Standards” and
“Asset Standards” as applicable
s. I abide by the Model Code of Conduct for empanelment of valuer in the Bank. (Annexure V- A signed copy of
same to be taken and kept along with this declaration)
t. I am registered under Section 34 AB of the Wealth Tax Act, 1957. (Strike off, if not applicable)
u. I am valuer registered with Insolvency & Bankruptcy Board of India (IBBI) (Strike off, if not applicable)
v. My CIBIL Score and credit worthiness is as per Bank’s guidelines
w. I am the proprietor / partner / authorized official of the firm / company, who is competent to sign this valuation
report.
X, I will undertake the valuation work on receipt of Letter of Engagement generated from the system (i.e.
LLMS/LOS) only.
y. Further, I hereby provide the following information

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SL. NO. PARTICULARS
1 background information of the asset
being valued;
2 purpose of valuation and appointing
authority
identity of the valuer and any other
3 Managing Partner, yes two other partners.
experts involved in the valuation;
4 disclosure of valuer interest or conflict,
if any;
date of appointment, valuation date
5
and date of report;
6 inspections and/or investigations
undertaken;
nature and sources of the information
used or relied upon;
7 equivalent to 4.2281 Decimal more or less (As per Deed of Declaration) and residential
procedures adopted in carrying out the
8 valuation and valuation standards
followed;
9 restrictions on use of the report, if any;
10 major factors that were taken into
account during the valuation;
VALUER COMMENT
The subject property, consisting of Freehold Bastu land admeasuring 2.00 Kattah 12.00
Chittack 20.00 Sq. ft equivalent to 4.5833 Decimal more or less (As per Deed), 2.00 Kattah
9.00 Chittack 00.00 Sq. ft equivalent to 4.2281 Decimal more or less (As per Deed of
Declaration & TIR) and residential building admeasuring covered area 900.00 Sq. ft more
or less (As per Deed, Deed of Declaration & TIR). More details are furnished below.
SURVEY DETAILS OF THE PROPERTY: Mouza- Bantra, Sheet No.57, J.L. No. 01, L.R. Dag
No.306, L.R. Khatian No.67, 184, 228, 269,454,709 & 710 Holding No.97, Narasingha
Dutta Road, P.O. Kadamtala, P.S. Bantra, Dist. Howrah, Pin.711101, West Bengal, Under
the of jurisdiction of Howrah Municipal Corporation, Ward No.24, Borough No. III
To assess the Fair market value of the property to be mortgage as on the date of
inspection for fund raising.
Appointing Authority State Bank of India, SME -Howrah Branch,
239,Panchanantala Road,S.K.Roy Building,Howrah-711101,West Bengal
We confirm that we have no conflict or interest in providing this report to the Client, and
that we are acting as external valuers for this exercise.
Date of appointmentVerbal
Valuation date & date of report14.01.2023
Inspected the property on 06.01.2023
In this report, we have been provided with some information by the Client. We have
relied on this information being materially correct in all respects. In particular, we detail
the following:
• Floor area extent details with survey numbers
• Copy of Deed for land admeasuring 2.00 Kattah 12.00 Chittack 20.00 Sq. ft equivalent
to 4.5833 Decimal more or less (As per Deed), 2.00 Kattah 9.00 Chittack 00.00 Sq. ft
building admeasuring covered area 900.00 Sq. ft more or less (As per Deed).
We have gathered the guideline rates (Circle Rates) and made market inquiries of sales of
Residential land available for sale in the vicinity of the Subject Property. We have
conducted a market survey in the vicinity of the Subject Property. Our sources of the
market survey and enquiries include:
local residents, Representative of Owner, real estate developers, real estate agents, etc.
This exercise has been carried out in accordance with the Royal Institution of
Chartered Surveyors (RICS) valuation standards, July 2017 edition
This report is confidential to the addressee and is not to be the subject of communication
or reproduction wholly or in part. Any person relying upon the said report shall do so at
its own risk and that S. Sen & Associates shall not be liable for any direct/indirect loss
arising therefrom...
The direct comparison model takes into consideration specific parameters as
mentioned in the model below, which are most likely to have an impact on the
valuation of the property. These parameters include:
i. Physical attributes of the site
Size, shape, frontage and topography are the key physical features that have an
implication on the property worth. Size of the office space affects the number of
alternatives and usages for which it can be developed. Frontage of the office space
determines the number of access points and the visibility that a proposed development
would enjoy. Shape of a site influences the utility, i.e. the percentage of usable space or
the efficiency that can be achieved on the same. Topography can be classified as level,
gently sloping, severely sloping, undulating or a combination thereof.
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 ii. Space use status
The zoning ordinance applicable for the property determines the type of development
that can be proposed on the property. This in turn would determine the revenue streams
from the property and consequently the value that the property can command in the
market. Zoning assumptions are made on the basis of government records. In case of
deviation from the published government record, the reason for change in assumption
has been mentioned.
iii. Development status
An well-developed area is the most desirable topography; for it entails minimum
expenditure towards development. Irregular topography would lead to increased
development cost. Additionally, the elevation of the site w.r.t. the access roads abutting
it would have an impact on the development cost.
iv. Location and neighborhood
Location of the property can be explained in terms of administrative jurisdiction, distance
from arterial roads, distance from CBD, social infrastructure, site surroundings and
neighbouring land use. The usage of properties in the neighbourhood establishes the
perception of the location. The mix of property use and physical condition of the
adjoining property can either enhance or detract the visual perception and subsequently
influence the property worth. Connectivity can be assessed in terms of linkages to the
site from different modes and networks. Physical access is a universal requirement for
properties of every nature. Once availability of access to a property has been established
the quality of access is ascertained. Quality of access implies the width of road, surface of
the road, traffic volumes, travel time, etc. The importance of the nature, ease and quality
of access is subjective to the usage of the property/development. .
major factors that were not taken into i)Legal and regulatory aspects. we do not undertake searches or inspections of any kind
account during the valuation; (including web-based searches for title information, searches in any publicly available
land registers or land revenue cards).
We have assumed that there are no adverse ground or soil conditions and that the load
11 bearing capacity of the Site is sufficient for the buildings constructed.
Our Site observation did not bring out any significant flood risk to the Site and hence for
the purpose of this valuation, we have considered the Site to be under low flood risk. .
Asset entries identified as Computers and Software, Furniture and Fixtures, Refrigerators
and appliances and Capital Work in Progress (CWIP) have not been valued.
Caveats, limitations and disclaimers to No claim arising out of or in connection with this valuation report may be brought
the extent they explain or elucidate the against any member, employee, partner, or consultant of S. Sen & Associates.
limitations faced by valuer, which shall S. Sen & Associates total liability for any direct loss or damage caused by the negligence
not be for the purpose of limiting his or breach of contract in relation to this instruction and valuation report is limited to the
amount specified in the terms of engagement letter (if any). We do not accept any
responsibility for the valuation report.
liability for any indirect or consequential loss (such as loss of profit).
The statements, information and opinions expressed or provided in this publication are
intended only as a guide to some of the important considerations that relate to property
12 investment. Although we believe that they are correct and not misleading, with every
effort having been made to ensure that they are free from error, they should not be
taken to represent, nor are they intended to represent, investment advice or specific
proposals, which must always be reviewed in isolation due to the degree of uniqueness
that will attach thereto.
Neither S. Sen & Associates nor any person involved in the preparation of this publication
give any warranty as to its contents nor accept any contractual, tortuous or other form of
liability for any consequences, loss or damages that may arise as a result of any person
acting upon or using the statements, information or opinions in this publication

Date:
Place: Kolkata
(Kalyan Kumar Das)
Managing Partner
Signature
(Name of the Approved Valuer and Seal of the Firm / Company)

(ANNEXURE-II)
MODEL CODE OF CONDUCT FOR VALUERS
Integrity and Fairness
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 1 A valuer shall, in the conduct of his/its business, follow high standards of integrity and fairness in all his/its dealings with
his/its clients and other valuers.
2 A valuer shall maintain integrity by being honest, straightforward, and forthright in all professional relationships.
3 A valuer shall endeavour to ensure that he/it provides true and adequate information and shall not misrepresent any facts
or situations
4 A valuer shall refrain from being involved in any action that would bring disrepute to the profession.
5 A valuer shall keep public interest foremost while delivering his services
Professional Competence and Due Care
6 A valuer shall render at all times high standards of service, exercise due diligence, ensure proper care and exercise
independent professional judgment
7 A valuer shall carry out professional services in accordance with the relevant technical and professional standards that
may be specified from time to time
8 A valuer shall continuously maintain professional knowledge and skill to provide competent professional service based
on up-to-date developments in practice, prevailing regulations/guidelines and techniques.
9 In the preparation of a valuation report, the valuer shall not disclaim liability for his/its expertise or deny his/its duty of
care, except to the extent that the assumptions are based on statements of fact provided by the company or its auditors or
consultants or information available in public domain and not generated by the valuer
10 A valuer shall not carry out any instruction of the client insofar as they are incompatible with the requirements of
integrity, objectivity and independence.
11 A valuer shall clearly state to his client the services that he would be competent to provide and the services for which he
would be relying on other valuers or professionals or for which the client can have a separate arrangement with other
valuers.
Independence and Disclosure of Interest
12 A valuer shall act with objectivity in his/its professional dealings by ensuring that his/its decisions are made without the
presence of any bias, conflict of interest, coercion, or undue influence of any party, whether directly connected to the
valuation assignment or not
13 A valuer shall not take up an assignment if he/it or any of his/its relatives or associates is not independent in terms of
association to the company
14 A valuer shall maintain complete independence in his/its professional relationships and shall conduct the valuation
independent of external influences
15 A valuer shall wherever necessary disclose to the clients, possible sources of conflicts of duties and interests, while
providing unbiased services
16 A valuer shall not deal in securities of any subject company after any time when he/it first becomes aware of the
possibility of his/its association with the valuation, and in accordance with the Securities and Exchange Board of India
(Prohibition of Insider Trading) Regulations, 2015 or till the time the valuation report becomes public, whichever is
earlier
17 A valuer shall not indulge in “mandate snatching” or offering “convenience valuations” in order to cater to a company or
client‟s needs.
18 As an independent valuer, the valuer shall not charge success fee (Success fees may be defined as a compensation /
incentive paid to any third party for successful closure of transaction. In this case, approval of credit proposals).
19 In any fairness opinion or independent expert opinion submitted by a valuer, if there has been a prior engagement in an
unconnected transaction, the valuer shall declare the association with the company during the last five years
Confidentiality
20 A valuer shall not use or divulge to other clients or any other party any confidential information about the subject
company, which has come to his/its knowledge without proper and specific authority or unless there is a legal or
professional right or duty to disclose.
Information Management
21 A valuer shall ensure that he/ it maintains written contemporaneous records for any decision taken, the reasons for taking
the decision, and the information and evidence in support of such decision. This shall be maintained so as to sufficiently
enable a reasonable person to take a view on the appropriateness of his/its decisions and actions.

22 A valuer shall appear, co-operate and be available for inspections and investigations carried out by the authority, any
person authorized by the authority, the registered valuer’s organization with which he/it is registered or any other
statutory regulatory body.

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 23 A valuer shall provide all information and records as may be required by the authority, the Tribunal, Appellate Tribunal,
the registered valuer’s organization with which he/it is registered, or any other statutory regulatory body

24 A valuer while respecting the confidentiality of information acquired during the course of performing professional
services, shall maintain proper working papers for a period of three years or such longer period as required in its contract
for a specific valuation, for production before a regulatory authority or for a peer review. In the event of a pending case
before the Tribunal or Appellate Tribunal, the record shall be maintained till the disposal of the case

Gifts and hospitality

25 A valuer or his/its relative shall not accept gifts or hospitality which undermines or affects his independence as a valuer.
Explanation.─ For the purposes of this code the term „relative‟ shall have the same meaning as defined in clause (77) of
Section 2 of the Companies Act, 2013 (18 of 2013)

26 A valuer shall not offer gifts or hospitality or a financial or any other advantage to a public servant or any other person
with a view to obtain or retain work for himself/ itself, or to obtain or retain an advantage in the conduct of profession for
himself/ itself.
Remuneration and Costs.
27 A valuer shall provide services for remuneration which is charged in a transparent manner, is a reasonable reflection of
the work necessarily and properly undertaken, and is not inconsistent with the applicable rules.
28 A valuer shall not accept any fees or charges other than those which are disclosed in a written contract with the person to
whom he would be rendering service

Occupation, employability and restrictions.

29 A valuer shall refrain from accepting too many assignments, if he/it is unlikely to be able to devote adequate time to each
of his/ its assignments.
30 A valuer shall not conduct business which in the opinion of the authority or the registered valuer organization discredits
the profession
Miscellaneous
31 A valuer shall refrain from undertaking to review the work of another valuer of the same client except under written
orders from the bank or housing finance institutions and with knowledge of the concerned valuer.
32 A valuer shall follow this code as amended or revised from time to time

Date:
Place: Kolkata

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