S. No.

Class of Asset

Qualification

A

B

C

1.

Immovable property (other than agricultural lands, plantations, forests, mines and quarries)

The applicant shall—

(a) (i) be a graduate in civil engineering, architecture or town planning from a recognized University; or

(ii) be a post-graduate in valuation of real estate from a recognized University; or

(iii) possess a qualification recognized by the Central Government for recruitment to superior services or posts under the Central Government in the field of civil engineering, architecture or town planning; and

(b) (i) be a person formerly employed—

(A) in a post under Government as a Gazetted officer; or

(B) in a post under any other employer carrying a remuneration of not less than ₹ 50000 per month,

and, in either case, shall have retired or resigned from such employment after having rendered service for not less than ten years (or three years, if he possesses a post-graduate degree in valuation of real estate from a recognized University) as a valuer, architect or town planner, or in the field of construction of buildings, designing of structures, or development of land; or

(ii) as a professor, reader or lecturer in a university, college or any other institution preparing students for a degree in civil engineering, architecture or town planning, or for any qualification referred to in clause (a), and must have retired or resigned from such employment after having taught for not less than ten years (or three years, if he possesses a post-graduate degree in valuation of real estate from a recognised University) any of the subjects of valuation, quantity surveying, building construction, architecture, or town planning;

The applicant shall have been in practice as a consulting engineer, valuer of real estate, surveyor or architect for a period of not less than ten years (or three years, if he possesses a post-graduate degree in valuation of real estate from a recognized University) and must have acquired experience in any of the following fields:

(a) valuation of buildings and urban lands; or

(b) quantity surveying in building construction; or

(c) architectural or structural designing of buildings or town planning; or

(d) construction of buildings or development of land;

and his gross receipts from such practice shall not be less than ₹ 100000 in any three of the five preceding years (or in any two of the three preceding years, if he possesses a post-graduate degree in valuation of real estate from a recognized University), immediately preceding the year in which the application for registration as a valuer is made by him.

2

Agricultural lands (other than plantations mentioned at serial number 3)

The applicant shall be a—

(a) graduate in agricultural science of a recognised University and shall have worked as a farm valuer for a period of not less than five years; or

(b) person formerly employed in a post under the Government as a Collector, Deputy Collector, Settlement Officer, Land Valuation Officer, Superintendent of Land Records, Agricultural Officer, Registrar under the Registration Act, 1908 (16 of 1908), or any other officer of equivalent rank performing similar functions and shall have to be retired or resigned from such employment after having rendered service in any one or more of said the posts for an aggregate period of not less than five years.    

3

Coffee plantation, tea plantation, rubber plantation or, cardamom plantation

The applicant shall—

(a) have, for a period of not less than five years, owned, or acted as manager of a coffee, tea, rubber or, as the case may be, cardamom plantation having an area under plantation of not less than four hectares in the case of a cardamom plantation or forty hectares in the case of any other plantation; or

(b) be a person formerly employed in a post under the Government as a Collector, Deputy Collector, Settlement Officer, Land Valuation Officer, Superintendent of Land Records, Agricultural Officer, Registrar under the Registration Act, 1908 (16 of 1908), or any other officer of equivalent rank performing similar functions and shall have retired or resigned from such employment after having rendered service in any one or more of the said posts for an aggregate period of not less than five years, out of which, not less than three years shall be in areas, wherein coffee, tea, rubber or, as the case may be, cardamom is extensively grown.   

4

Forest

The applicant shall be a person formerly employed in a post under the Government and shall have to be retired or resigned from such employment after having rendered service for not less than five years in a Gazette post requiring specialized knowledge in forestry

5

Mines and quarries

The applicant shall be a—

(a) graduate in mining of a recognised university, or must possess a qualification recognised by the Central Government for recruitment to superior services or posts under the Central Government in the field of mining; and

(b) person formerly employed in a —

(A) post under Government as a Gazetted officer; or

(B) post under any other employer carrying a remuneration of not less than ₹ 50000 per month,

And, in either case, shall have to be retired or resigned from such employment after having rendered service as a mining engineer for not less than ten years.        

6

Stocks, shares, debentures, securities, shares in partnership firms and of business assets, including goodwill but excluding those mentioned at serial numbers 1 to 5 and 7 to 10

The applicant shall—

(a) be a member of the Institute of Chartered Accountants of India, or the Institute of Cost Accountants of India, or the Institute of Company Secretaries of India; or

(b) possess a Master of Business Administration or Post Graduate Diploma in Business Management with specialisation in Finance; or

(c) be a post graduate in Finance; and

(i) have been in practice in a discipline, which is relevant for valuation of stocks, shares, debentures, securities, shares in partnership firms and of business assets, including goodwill, etc., for a period of not less than ten years and his gross receipts from such practice should not be less than ₹ 100000 in any three of the five preceding years, immediately preceding the year in which the application for registration as a valuer is made by him; or

(ii) be a person formerly employed—

   (A) in a post under Government as a Gazetted officer,

         Or

    (B) in a post under any other employer carrying a remuneration of not less than ₹ 50000 per month,

and, in either case, shall have to be retired or resigned from such employment after having rendered service for a period of not less than ten years in the field of audit and accounts or taxation work, or

(d) in a discipline which is relevant for valuation of stocks, shares, debentures, securities, shares in partnership firms and of business assets, including goodwill etc., carrying a remuneration of not less than ₹ 100000 per month and must have retired or resigned from such employment after having rendered service for a period of not less than ten years.

7

Machinery and plant

The applicant shall—

(a) (i) be a graduate or post-graduate in Mechanical, Electrical, Electronic and Communication, Electronic and Instrumentation, Production, Chemical, Textiles, Leather, Metallurgy, Aeronautical Engineering, or Valuation of Plant and Machinery from a recognised University; or

(ii) possess a qualification recognised by the Central Government for recruitment to superior services or posts under the Central Government in the field of mechanical or electrical engineering;

(b) be a person formerly employed—

(i) in a post under Government as a Gazetted officer; or‘ (ii) in a post under any other employer carrying a remuneration of not less than ₹50000 per month,

and, in either case, shall have to be retired or resigned from such employment after having rendered service as a mechanical or electrical or electronic and communication or electronic and instrumentation or production or chemical or textiles or leather or metallurgy or aeronautical engineer or valuer of machinery and plant for a period of not less than ten years (or three years, if he possesses a post-graduate degree in valuation of machinery and plant from a recognized University; or

(iii) as a professor, reader or lecturer in a University, college or institution preparing students for a degree in mechanical or electrical or electronic and communication or electronic and instrumentation or production or chemical or textiles or leather or metallurgy or aeronautical engineering or for any qualification referred to in clause (a), and shall have to be retired or resigned from such employment after having taught for a period of not less than ten years (or three years, if he possesses a post-graduate degree in valuation of machinery and plant from a recognised University);

OR

The applicant shall have been in practice as a consulting engineer or valuer of machinery and plant for a period of not less than ten years and must have acquired experience in the valuation of machinery and plant and his gross receipts from such practice shall not be less than ₹ 100000 in any three of the five preceding years (or in any two of the three preceding years, if he possesses a post-graduate degree in valuation of machinery and plant from a recognised University), immediately preceding the year in which the application for registration as a valuer is made by him.

8

Jewellery

The applicant shall have been, for a period of not less than five years, a sole proprietor or partner in a partnership firm carrying on jewelry business which has on an average an annual turnover of not less than fifty lakhs rupees or profit, including fees for valuation, of not less than ₹ 500000 in the last three of the five preceding years, immediately preceding the year in which the application for registration as a valuer is made by him

9

Works of art

The applicant shall have—

(a) specialisation by virtue of his academic and professional pursuits in the particular line of art, for the works of which he seeks to be registered as a valuer; and

(b) served in any one or more of the following capacities:—

(i) Director General or Superintending Archaeologist of the Archaeological Survey of India; or

(ii) Director of National Museum, New Delhi, Salar Jung Museum, Hyderabad, Prince of Wales Museum, Bombay, Indian Museum, Calcutta, Asutosh Museum, Calcutta, Madras Museum, Madras or Bharat Kala Bhavan, Varanasi; or

(iii) principal of a Government School of Art; or

(iv) member of the Art Purchase Committee of any of the museums referred to in sub-clause (ii), or of the Lalit Kala Akademi

10

Life interest, reversions and interest in expectancy

The applicant shall—

(a) be a graduate of a recognised University; and

(b) have—

(i) been in practice as an actuary under the Insurance Act, 1938 (4 of 1938), for a period of not less than ten years;

      Or

(ii) rendered continuous service for a period of not less than ten years as an actuary under Government or in the Life Insurance Corporation of India established under the Life Insurance Corporation Act, 1956 (31 of 1956); or

(iii) Practiced as an actuary or served as such under Government or in the Life Insurance Corporation of India referred to in sub-clause (ii) for an aggregate period of not less than ten years.