📝 One-liners · 141 cards
Valuation of Real Property
L — Purpose / Why a Valuation Report Is Mandatory?
Purpose: Loan / Mortgage Security; Why a Valuation Report Is Mandatory: Bank lends only up to LTV % of Realisable Sale Value (RSV). Valuer's report is the primary security document and goes into the credit-folder.
S — Purpose / Why a Valuation Report Is Mandatory?
Purpose: Sale / Purchase; Why a Valuation Report Is Mandatory: Buyer and seller need an independent benchmark; also drives stamp-duty under the State Stamp Act + Sec. 50C IT Act.
T — Purpose / Why a Valuation Report Is Mandatory?
Purpose: Taxation — Capital Gains (Sec. 50C / 56(2)(x)), Stamp-Duty, legacy Wealth Tax; Why a Valuation Report Is Mandatory: "Higher of consideration vs Stamp-Value" rule; FMV-as-on-1-Apr-2001 for indexation.
A — Purpose / Why a Valuation Report Is Mandatory?
Purpose: Accounting / Financial-Reporting; Why a Valuation Report Is Mandatory: Ind-AS 16, 36, 40 — revaluation model, impairment, fair-value of investment property; statutory audit; IBBI-registered valuer required for companies.
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