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CHAIRMAN’S COLUMN FROM THE DESK OF MD/CEO

V O X - P O P U L I VYSHNAVI DEVANAHALLI NAGARAJ RAMESH ATLURI FACTS ABOUT VINEESH VIDYADHARAN SOUTH INDIA KUMAR P R T H E U P D A T E S Area: South India is a region covering 635,780 km of area which is like 19.31% of India's area. PROMOTIONS & CAMPAIGNS States and union territories: Karnataka, Andra Pradesh, Kerala, Lakshadweep, WHERE DO WE STAND Puducherry, Tamil Nadu, Telangana Ofﬁcial languages: Kannada, Telugu, Tamil, English, Malayalam Total population: 253,051,953 C R E D I T S

DID YOU KNOW? EDITOR

Southern India is home to 9 UNESCO World Heritage Sites. TANUJ KUMAR BHATNAGAR Southern India boasts the title of 'Richest Temple in the World'. 75% of India's coconut production comes from the South. COMPILATION & DESIGNING Southern India has the maximum Ayurveda schools as compared to MANASI MEWARI any other state/country in the World. The ﬁrst known literature of South India is the poetic Sangam literature, which was written in Tamil 2500 to 2100 years ago. There are 8 classical dance forms in India that are recognized by the Ministry of Culture and Sangeet Natak Academy. Out of which, four are from South. Literacy rates in the southern states is approximately 81% of the population who are capable of reading and writing. As per a survey by the National Statistical Ofﬁce; Kerala tops the list of the most literate state in India with a literacy rate of 96.2%. D I S C L A I M E R

838+ RVs of IOV-RVF are from South India. The articles published in this issue are the statements and opinions of the authors only and are not necessarily endorsed by IOV-RVF as an organisation. The Editor/ IOV-RVF assumes no responsibility for the statements and opinions expressed herein. F R A M E O F R E F E R E N C E

CHAIRMAN’S COLUMN FROM THE DESK OF MD/CEO

DID YOU KNOW? EDITOR

transactions under company law, t is noteworthy that the approach he progress in the field of Ÿ Providing Study Circles in all insolvency law, and tax law, among to education and professional Valuation under a regulated classes of Assets for Refreshers others. However, unlike other Id e ve l o p m e n t of va l u a t i o n Tframework , is becoming free of charge. professions, the valuation profession professionals is guided by the need visible enough to induce reliability Ÿ Providing opportunities for is not institutionalised through state- to serve public interest – to make for the Profession. Responsibility for e x p r e s s i n g a n d s h a r i n g sponsored regulations or regulated available valuation professionals that further growth in this lies on the ways knowledge through a news properly. This creates several provide reliable and quality services and directions being followed, magazine- ' THE VALUER ' a r b i t r a g e o p p o r t u n i t i e s f o r to the public. Focus must be tailored through a well-structured system Ÿ Facilitating the capacity building malpractices, affects quality-control, on the need to promote research and within the outlined Regulatory m e a s u re s to e n h a n c e t h e and also inhibits the development of publication and seek to ensure Framework, by the Registered Valuer competitive edge may lead to the profession. Thus, one important growth and knowledge development Organisations and Registered encourage the users of Valuation aspect for the valuation discipline in at all stages. This largely reflects the Valuers. The system requires focus on Ser vices for obtaining the India shall be the development and need to develop a highly specialised c o n t i n u i n g P r o f e s s i o n a l services of our Valuer Members. VINAY GOEL implementation of appropriate Development Programs stressing on Adoption of other measures like: profession, the requirements of MD & CEO, IOV-RVF PROF (DR) GOUTAM SENGUPTA regulatory framework. which make it desirable for valuation the need to upgrade individual skills Ÿ Use of technological tools by the professionals to stay invested and and knowledge. Therefore, it RVOs & RVs in communication, ndia’s valuation domain at this PhD, PGDM (XLRI), BME, FIE grow along with it. becomes important that the RVs availability of required Data its O V - R V F i s c o n t i n u o u s l y juncture should place emphasis Chartered Engineer (IE), FCRIMM keep on acquiring such information e x t r a c t i o n & a n a l y s i s , requesting all Members to come on the need to develop high sincerely wish “The Valuer” and Life Time Certification (ISM-USA) I regarding latest developments, assessments and various other forward and join our various quality valuation professionals and the people behind it all glory and I knowledge & training to remain f u n c t i o n s c r e a t e e a s e i n organisational requirements with Chairman, IOV-RVF seek to achieve this by laying out a success. I competitive in the Profession. At the performing various activities. monetary benefits like: detailed and structured mechanism same time, the Registered Valuers Ÿ Keeping records in a well secured Ÿ as Faculty to teach the aspirants in that sets the standards for education organisations are equally responsible and managed repository system, various educational & training as well as delivery of courses. There t the outset, I congratulate to continuously provide such having ensured non-disclosure programs. should be institution of a ‘National the team of “The Valuer” for programs for the RVs. Monitoring formats to third party is capable Ÿ as content writers to frame MCQs Valuation Programme’ and a Chairman’s their commendable effort on a n d G r i e v a n c e R e d r e s s a l o f h a v i n g s h a r e d d a t a & course related contents. A ‘Graduate Valuation Programme’, publishing this issue with the theme mechanisms are the responsibilities information, thereby generating Ÿ as reviewers to peer review the while recognising the importance of as “South India”. I am sure this column of RVOs. Assessment of RVs through confidence amongst the Users & works done by Valuers. practice-based learning by requiring a p p r o a c h o f e n c o u r a g i n g these mechanisms has a potential to Valuers. Ÿ as advisor for our other such mandatory internships as part of contributions from different regions g u i d e t h e R V O s a n d R Vs t o Ÿ Availability of competent and activities where expert opinion in such programmes. shall definitely boost the efforts of understand areas of improvement in reliable Valuers as mentioned in the field of Valuation is required. this publication to achieve a blend of designing the programs accordingly. compliance list on our website is national fervour while unveiling a c c e s s e d b y t h e U s e r s of o have more engagement many regional talents on the OV-RVF, as an RVO, is well aware Professional Services. from our members, we have valuation discipline and add to its From the desk of its responsibilities and is Ÿ Information regarding potential Tstarted a campaign from this enrichment and reach. Igaining the required reliability by in opportunities in the field for month, in which each issue of ‘The spearheading in providing the much- the Valuers on our website Valuer’ will be dedicated to one lobally, there has been an needed programs and facilities to the region of India, starting with South emergence of many neo- of MD/CEO advantage of its esteemed members h a r i n g o f t h o u g h t s , India. p r o f e s s i o n s , a n d t h i s G and the stakeholders as well. Recent experiences, research papers I personally want to motivate our development is no different in India. d e v e l o p m e n t s i n q u a l i t y and other information on THE valuable members to invests some India has seen the institutionalisation S enhancement entails: VALUER is expected to not only time and contribute regularly in ‘The of several market-linked professions Ÿ Creating ease in accessibility of generate self-confidence but also a Valuer’ to guide aspirants who are in the past, such as Chartered web portal i.e., ‘IOV-RVF-HUB’ sense of satisfaction by contributing new in valuation field. Experienced A c c o u n t a n t s , I n s o l v e n c y through a DESKTOP as well as to the upliftment of the Valuers valuers are invited to share their Professionals, etc. through respective MOBILE APP. Fraternity. At the same time, Valuers, successful case studies, views, state-sponsored regulations. Just like Ÿ All functions performed by the whose articles are published in THE testimonials or any noticeable or these professionals, valuers also Applicants as well as the RVs, like VA LU E R , g a i n t h e d e s e r v i n g inspiring experience for fellow perform a very useful function in filing of all type of Forms, respectability in the Profession. I members. A newsletter can be an market-based economies. Their enrolment for membership and would like to implore more Valuers to amazingly effective medium to services are crucial for ascertaining o t h e r e v e n t s , a t t e n d i n g come forward and send us the write- connect with others and to express the value of different classes of educational and other training ups for the publication in THE yourself. One can build and develop a assets, as required under different programs, obtaining VRN, Mock VALUER which may be suitably reputation as a professional among contexts. For instance, valuation is tests, payments etc., are easily awarded on the recommendation of the fellow valuers as well as with your required for several private or public a c c e s s i b l e t h r o u g h t h e s e the Editorial Board. RVO. Please be a part of this bi- Platforms. monthly journey of ‘The Valuer’.

2 3 June-July 2021 / VOL. 11 FROM OUR CHAIRMAN & MD’S DESKS

2 3 June-July 2021 / VOL. 11 VOX-POPULI

o f c u s t o m e r s a n d p o t e n t i a l marked. Seniority is a measure of the assignments, capable of managing customers, try not to divulge the data amount of time a person has been a the time, act in a moral or ethical way, to others, not exploit our customers, member of an organization, as a c t a n d t h i n k i m a g i n a t i ve l y, partners, outsiders or anybody to compared to other members, and appreciate variety, focus on customer whom an obligation of care is owed, with an eye towards awarding satisfaction and oversee clashing keep away from predisposition, privileges to those who have been interests viably. irreconcilable situation or the members longer whereas experience While presenting the opinions, unnecessary impact of others to is the knowledge, observation and adherence to the guidelines of override professional or business skill sets we have gained. Is the word valuation when completing valuation decisions and commitments. We “Senior ” in our field denoting assignments serves to represent the should provide clarification to all experience or age? This is the profession as responsible. The interested parties where a conflict of question to be asked by all. Seniority

X-POPULI X-POPULI adherence to professional standards interest emerges, staying away from is a position which denotes a high empowers individuals from the conduct which may recommend ill- level of integrity and professional

O O profession to obviously separate advised commitment and acting knowledge in a member. He is themselves in the business sectors in reliably in the public interest while supposed to be a role model for the V V which they work and permit the taking decisions or giving guidance. generations to follow. He practices PROFESSIONALISM expert bodies to advance members' what he preaches and is the breeding BUZZ (OR FIZZLE?) A Valuer should consistently be professionalism. ground for youngs ter s . In a responsible for his actions or professional community, Seniority T h e a r t o f m a i n t a i n i n g judgements and not fault others if VYSHNAVI DEVANAHALLI NAGARAJ should never be relative to age, it Professionalism has gotten more things turn out badly, continually should be focussed towards calibre demanding than any other time, acting with expertise, care and and guidance. Someone working in since the valuation profession has diligence. This involves responding in B. Arch, M.Sc (REV) I Registered Valuer (L&B) I IBBI/RV/02/2018/10012 an organisation for so many numbers become considerably more complex a professional manner with an [email protected] of years does not mean he is and intricate today than it was many intention to resolve the issues to the experienced. Just because someone years ago. Hence valuers should satisfaction of the customer. has attended a few meetings with the consistently recognize moral or Competence being a significant ethical issues and refine the moral or would like to continue with similarity - Economic Activity, but basic foundation of valuation authorities' does not mean he has the component of an expert demeanour ethical standards in the profession presenting my thoughts on the there is Dis-similarity as well – Sale of professionalism. experience to do the same from the includes having the option to do the and achieve success in an objective, different topics of interest related Goods or Use of Knowledge. other side of the bench. I Professionalism as exhibited by assignment effectively. Usually, the impartial, and moral or ethical way to our professional work – Valuation. As Professional Valuers, it is A professional is somebody accepted people might be worked around an educational background and without any self-interest in order to necessary to exhibit a demeanour My first efforts in this direction to have extraordinary skills that inside moral framework or code of experience give an idea about the depict professionalism. and conduct, suitable for both field turned towards ETHICS. This one qualify him to offer expert guidance morals. Common traits often include c o m p e t e n c e r e g a r d i n g t h e work and the workplace working At a time when the society and would be on PROFESSIONALISM. and expected to have a place with a transparency, honesty and integrity. assignment. Competence also environment. This incorporates s t a k e h o l d e r s a r e g e t t i n g peer group with specific guidelines These individual qualities regularly involves self-direction and autonomy Should it remain a Buzz word or sorting out and focusing on one's progressively demanding about the and morals. Appropriate adherence show themselves openly when and knowing what should be done should it be integrated within the own responsibility and aim to deliver standards that it anticipates from the to these principles and rules people react to different business without any supervision. Valuers definition of our profession? work of the highest quality. A Valuer professional, maintaining public and demonstrates professionalism. related circumstances. An expert ought to be coordinated and monitor needs to work in an effective way with stakeholder confidence in valuers is The question like the previous topic hard working attitude might be finished as well as uncompleted P r o f e s s i o n a l i s m i s l i k e w i s e others from both related profession, ver y critical to the valuation to be asked by us - Is there a viewed as someone "Walking the a s s i g n m e n t s a n d o u g h t t o c h a r a c t e r i z e d a s t h e s e v e re and other professions as well. This p r o f e s s i o n . M a i n t a i n i n g difference between “Profession” and Talk" in regards to their own consistently endeavour to become adherence to kindness, genuineness would suggest that the Valuer can Professionalism in a challenging “Business”. Is Valuation “Business” or profound quality and morals. specialists in their field, which and obligation when managing show diligence and assurance, Valuation Industry depends to a huge “Profession”? separates them from the remainder people or different organizations in W h a t d o e s m a i n t a i n i n g a adequately deliver valuation degree on the ethical structure of the Business is an economic activity t h e b u s i n e s s c l i m a t e . T h i s P r o f e s s i o n a l A t t i t u d e o r of t h e pa c k . T h i s c a n m e a n where people sell goods or services. characteristic regularly incorporates Professionalism entail? continuing education by taking Profession is an economic activity a significant degree of greatness courses, attending the seminars and Professionalism means acting with where people work with their g o i n g p a s t f u n d a m e n t a l a c c o m p l i s h i n g a n y r e l a t e d r e s p e c t a b i l i t y , b y b e i n g knowledge and skill. prerequisites. The impartation and professional qualifications. s t r a i g h t f o r w a r d , c l e a r a n d improvement of significant and So, is “Market Value” our goods or dependable and doing as such as it In relation to Competence an oft- down to earth valuation information our knowledge and skill? were so that our customers can misinterpreted word is “Senior”, and and abilities, along with moral understand the information. this has to be differentiated from Closely looking at the dictionary practice in full consistence with the “Experience”. The difference between definition, there appears to be a obligations forced by law, are the We have to respect the classified data seniority and experience is very

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V V professional as opposed to their Know the writer Six porches of square shape are well

O compliance with a very rigid set of connected with each other with a O rules and regulations. Ms. Vyshnavi is from the techno city single roof. This is a double stories

X-POPULI Benguluru which is the capital and temple and ground floor is used only X-POPULI TO CONCLUDE, the direction given the largest city of Karnataka state. as shed of the well. by the following shloka for the Bangalore is famous as ‘Silicon Valley’ Entire temple is based on pillars. The epitome of knowledge reverberates: of India, Karnataka's capital city is a architectural style is a mixture of well known IT hub and some of the traditional Dravidian, Portuguese world's major IT corporations and Kakatiyan style of temples. Chapter 3: Karma-Yoga operate out of the city. (TEXT 26) A proud South Indian women, she loves to poise gracefully in traditional न बुभेदं जनयेदानां Indian attire, and keeps a strong belief in God for all the positivity Mr. Atluri is second from the right. कमसिनाम् | around her. जोषयेवकमािण िवाु: For readers from outside South India, she recommends to visit ; which is WHO CAN ISSUE NET WORTH CERTICATE? समाचरन् || 26|| around 150 Kms from Bengaluru. This temple is constructed in square na buddhi-bhedam janayed ajñanam karma- RAMESH ATLURI sanginam style. This temple is constructed over joshayet sarva-karmani vidvan yuktah a huge well. This well is known as samacharan Pushkarni and there is a belief in the M.COM, B.L., PGDPM & PC I Registered Valuer (L&B) I IBBI/RV/02/2019/12515 local people that the water of this well [email protected] is holy. The wise should not create discord in the intellects of ignorant people, who While mentioning about local are attached to fruitive actions, by festivals of South-India, Ms. here was a confusion created Authorities issuing various circulars egistration.html inducing them to stop work. Rather, in connection with the issue of directing the Net worth certificates to Vyshnavi loves Dasara which is 3. Further, CDSL also authorised the by performing their duties in an NET WORTH CERTIFICATE for be issued by the Practising Chartered celebrated with pomp and glory by T Practising Company Secretaries enlightened manner, they should the Companies Registered under Accountants or Practising Company everyone. Pattada Gombe and other to issue net worth certificate in inspire the ignorant also to do their Companies Act 1956 or 2013. Secretaries Recently, the National dolls with special themes are connection with admitting of prescribed duties. Commodity Clearing Limited issued a displayed and decor at her home for No doubt – the Answer is : Practising securities in CDSL, vide letter dt. circular stating clearing members this along with typical south indian Chartered Accountant. There was a 17th December 2019. need to submit half yearly net worth meal which is prepared at her home, practice of issue Net worth Certificate Out of the situations, there was a c e r t i fi c a te b y t h e C h a r te re d including the ‘Holige’, a traditional by the Chartered Accountants for a c o n f u s i o n c r e a t e d a n d Accountants with method of L. C. sweet made of toor dal and jaggery long time. Issue of Net Worth is continued till the introduction of Gupta vide circular no. NCCL/ prepared on festivals and served to based on the Audited Financial Sec.247 of Companies Act M E M B E R S H I P - 0 0 3 / 2 0 2 1 , DT. god as Naivedya and eaten with ghee Statements. mentioning the profession of 19/4/2021. and milk. Registered Valuer. However, the time changes and Some of the following circulars for Gangamma temple on the outskirts of Photo 1 (top): recent period evidenced that the Net Section 247 (1) which both professionals i.e. madanapalli, Andhra Pradesh Temple decor for Dasara at home worth certificates can be issued by The concept of Registered Valuer has Photo 2 (below): C h a r t e r e d A c c o u n t a n t s a n d Practising Chartered Accountants been notified on 18th October 2017. Adorning kumkuma is one of the traditions Company Secretaries can issue NET passed down the generations and or as well as Practising Company Chapter XVII of the Companies Act WORTH CERTIFICTES. Secretaries. Yet, the Net worth 2013 prescribed the Section 247 in certificate is based on Audited 1. Regulation 31A (6) SEBI (Listing connection the Valuation by Financial statements only. It means, Obligations and Disclosure Registered Valuers. The Registered Audited Financial statements are Requirements) Regulations, 2015] Valuer being a member of prescribed c e r t i fi e d b y t h e C h a r t e r e d - Practising Company Secretary organisation recognised by IBBI and Accountants and net worth is can issue. should have relevant valuations and certified by Chartered Account or experience in the field of Valuation. 2. Allowing professionals NSDL- Company Secretary. It means the Registered Valuer a c c e s s i n g s h o u l d b e m e m b e r o f a n In recent period or in early, different https://issuer.nsdl.com/companyr

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V V professional as opposed to their Know the writer Six porches of square shape are well

O compliance with a very rigid set of connected with each other with a O rules and regulations. Ms. Vyshnavi is from the techno city single roof. This is a double stories

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V V organisation known as Registered The Appointment of Registered CONCLUSION

O Valuer Organisation (RVO) and as Valuer is done through the Audit O T h e r e f o r e , t h e r e s p e c t i v e such RVO need to be registered with Committee. In absence of Audit professional to have more due

X-POPULI Insolvency and Bankruptcy Board of Committee, the Company can make X-POPULI diligence while issuing Net Worth India -IBBI. The person who intends appointment through Board of Certificates for which purpose being to pursue the course of Valuation Directors. So technically it is issued and make a note on the Net should approach the Registered possible, the Board of Directors Worth Certificate for which purpose Valuer Organisations for which the appoints registered valuer even Audit it was issued, so that the specific list can be accessed through Committee exists but unable to meet issued certificate cannot be issue for h t t p s : / / i b b i . g o v. i n / s e r v i c e - immediately. Sec 247 (1) explains IN other purpose. If the purpose not provider/valuer-organisations ABSENCE OF AUDIT COMMTTEE, mentioned in certificate, there is a B o a r d of d i r e c t o r 's a p p o i n t As and when needed by the chance that the client may use for Registered Valuer. Company for the valuation of its o t h e r p u r p o s e s . T h e U D I N p r o p e r t i e s , s t o c k s , s h a r e s , LET US GO IN DETAIL : mentioned may not differentiate the debentures, goodwill or any other purpose for which it was issued. The net worth of the Company valued asset, the Company appoints the by Registered Valuer only. Similarly, Registered Valuer. Further 247 (1) REAL ESTATE REGULATION AND the liabilities of the company also clearly mentioned any assets, Resources need to be valued by Registered DEVELOPMENT ACT, 2016 [“RERA”] liabilities or even Net Worth should Valuer. Section 247 (1) of companies be valued by the Registered Valuer h t t p s : / / i b b i . g o v. i n / s e r v i c e - Act clearly indicates that the VINEESH VIDYADHARAN only. It means declaration of NET provider/valuer-organisations Va l u a t i o n m u s t b e d o n e b y WORTH must be done by the Registered Valuer. It will be clear Registered valuer. Registered Valuer https://issuer.nsdl.com/companyregi contravention if it Net worth B Tech (Civil) I PGDBA (Hons) I AMIE I Chartered Engineer I Registered Valuer (L&B) I IBBI/RV/02/2018/10437 is categorised in three different class stration.html Certificate is signed by other than [email protected] of assets such as Registered Valuer – Registered Valuers those are 1) Plant and Machinery 2) Land and http://ebook.mca.gov.in/Actpagedis registered with IBBI irrespective Buildings and 3) Securities and play.aspx?PAGENAME=17657 c i r c u l a r s i s s u e d b y v a r i o u s Ÿ Ÿ Financial Assets. eal Estate Regulation and Mandatory disclosure of all the Can ask for refund + interest if authorities. Development Act, 2016 details of the project. there is a default from promoters. R[“RERA”] is implemented in 34 Ÿ Fastrack dispute settlement States in India including Union THE PROMOTER'S FUNCTIONS mechanism. Territories. Ÿ Carpet area – Developer can sell Know the writer Ÿ To disclose all the relevant only net usable area. information. Being in part of South India, the most When asked about festivals of South of the ten days festival, Durgashtami, The following are some salient Ÿ Can appeal to RERA in case of Ÿ To adhere to the plan and favourite place for Mr. Aturi is India, Mr. Aturi shared about one of Moolanakhtram day are most features of this Act which has gained disputes. specifications. TIRUPATI – Best Heritage City where the most popular festivals of South powerful days. I strongly believe that so much of importance in The Real Ÿ If not satisfied with RERA they can Ÿ Responsible to rectify the Lord Venkateswara’s worship exist. India (and outside) “VIJAYADASHAMI I been backed with Goddess Estate sector in our country. appeal to Real Estate Appellate structural defects. The TIRUPATI is located in Chittor will be top 5 of favourite festivals in Saraswati Devi.” Tribunal (In 60 days they have to Ÿ Real Estate Regulation and Ÿ Refund the money if there is any District, Andhra Pradesh, South India. South India. Vijayadashami is settle) “Pongal is favourite South Indian Development Act, 2016. default. “I remember that I visited Tirupati celebrated for ten days normally dish. I prefer, prepare the Pongal Ÿ A i m s a t i m p r o v i n g t h e Ÿ Compulsory deposit of 70% of more than 10 times and I feel very during the month of October. It is one BENEFITS OF RERA and it can be served as meal for transparency and accountability. the funds (In escrow account in happy during stay at Tirupati.” of the biggest festivals of India. Out breakfast, lunch or dinner. The Ÿ Provisions. scheduled bank.) Ÿ Common platform for buyers, Pongal is taken with chutney or Ÿ Commercial and residential. Ÿ Promoters can use this money sellers and Intermediaries. Sambar. It is a rice and dal Ÿ Establishment of Real Estate only for purposes with regard to Ÿ Single regulator. combination item.” Regulatory Authority (RERA). project. Ÿ Proper Grievance settlement Ÿ Ÿ I t r a v e l l e d A n d h r a P r a d e s h , R E R A c o - o r d i n a t e s w i t h If there is any change in deal and mechanism. Ÿ Telangana, Tamilnadu & Karnataka. I Government and builders. plans 2/3 of the allotees to be Accountability. Ÿ Ÿ observed all these states have Registration of Real Estate agreed. No diversion of funds possible. Ÿ different languages, yet culture is projects and agencies. More demand since reliability is Ÿ unique among all South Indian Registration is mandatory for RIGHTS AND DUTIES OF BUYERS higher. areas more than 500sqm or more States. Very friendly and politeness Ÿ Can obtain stage wise time than 8 flats. Concerns of RERA a t m o s p h e r e a p p e a r w h i l e schedules. Ÿ Agents also to be registered. interaction. Ÿ Possession Ÿ Center and state.

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V V organisation known as Registered The Appointment of Registered CONCLUSION

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V V Ÿ There are confusions in the south, and the Lakshadweep Sea to

O Deﬁnition of a Promoter. the west which adds on to it’s beauty. O Ÿ Anybody who is actually involved Malayalam is the most widely spoken

X-POPULI in the project is the promoter. language and is also the official X-POPULI Ÿ Delay in clearances from central language of the state. govt. and state govt., local Kerala is the second-most urbanised authorities will incur loss to major state in the country with 47.7% promoter. (Risk to developer) urban population according to the 2011 Census of India with the highest As per Real Estate Regulation and The harvesting literacy rate, 96.2% in the 2018 Development Act, 2016 the following festival ‘Onam’ literacy survey conducted by the forms are to be filled up and is the festival of joy and National Statistical Office, India. submitted quarterly and annually happiness for respectively. Kerala is one of the prominent tourist Mr. Vidhyadharan. destinations of India, with coconut- Onam is an annual 1. Form 2 - Architects Certificate lined sandy beaches, backwaters, hill festival celebrated 2. Form 3 - Engineers Certificate stations, Ayurvedic tourism and majorly in Kerala. From NEW GREEN MATERIALS AND ITS EFFECT 3. Form 4 - CA Certificate tropical greenery as its major the sophisticated and lavishly 4. Form 5-Annual Report on attractions. decorated elephants to the wild IN VALUATION OF IN THE BUILDING SECTOR Statement of Accounts Pulikali dancers, and from the Out of all, Mr. Vidhyadharan’s gigantic snake boats lined up at the KUMAR P R favorite is ‘Vythiri’, a small town and s h o r e t o t h e v i b r a n t fl o r a l (A request can be made for the above tourist destination located in the m e n t i o n e d f o r m fi l e s o n decorations, this festival paints the Wayanad district in Kerala. He Architect I Structural Engineer I Registered Valuer (L&B) I IBBI/RV/02/2018/10195 [email protected]) state in more colors than you can recommends Vythiri to the readers imagine. [email protected] for it’s all season attractive weather, greenery and the terrain of this place which makes Vythiri a very special Know the writer Ÿ place. here are plenty of new building technologies in recent years being Environmental Impact. m a t e r i a l s h a v e b e e n geo-polymer concrete (which shall Mr. Vineesh Vidhyadharan is from The operation and cost of a building developed, the combination of be produced by the chemical action Kerala which is spread over 38,863 Second is, ‘UB City’; the biggest T can be divided into the function and materials that make up the building of inorganic molecules. Fly Ash, a by- kms and is the 21st largest Indian luxury commercial property project cost of each element. And the e l e m e n t s h a s a l s o c h a n g e d product of coal obtained from the state by area. Kerala is divided into 14 in Bangalore. It is a three-level optimum design of the building can accordingly. In order to improve the thermal power plant in plenty) foam districts and Thiruvananthapuram is shopping center with luxur y, be achieved through the integration valuation of the similar structures, the concrete (light cellular concrete the capital. It is surrounded by i n t e r n a t i o n a l r e t a i l e r s , p l u s of the optimal design for each valuer need to be thorough with which can be classified as a K a r n a t a k a t o t h e n o r t h a n d sophisticated restaurants and live element. northeast, Tamil Nadu to the east and music. innovative construction materials lightweight concrete with random and techniques. Cost effective air-voids created from the mixture of This procedure can be further Backwaters, Kerala: a n a l y s i s a s w e l l a s p h y s i c a l foam agents in mortar), efflorescence categorise as: Peaceful & picturesque palm-lined network of lagoons, lakes, rivers effectiveness of these methods shall m a t e r i a l s ( C o a t i n g p u r p o s e 1 Physical Performance: The and canals that stretches from Kochi (Cochin) to Kollam at Kerala is a ‘not to miss’ thing. be developed for evaluation purpose. crystalline deposit of salts that can function of buildings, due to form when water is present in or on The growth of sustainable building technological advancement, has brick, concrete, stone, stucco or other and construction materials is expanded in all the essentials - building surfaces etc. ascending in a fast pace since the materials, elements, and systems. past few years. Strict environmental Evaluation factor s for green The important fact to be observed regulations and policies causing materials: here is the value of buildings increased awareness towards should be evaluated in terms of development of environmental Ÿ Local availability of materials. performance, NOT function. For f r i e n d l y m a t e r i a l s i n b o t h Ÿ Proportion of recycled/waste example, the abrasion resistance manufacturing and operational materials used. of the floor of an apartment living phases of the material life cycle cost Ÿ Rapidly renewable materials. room should be evaluated for ( L C C ) o f t h e b u i l d i n g a n d Ÿ Impact in Energy Efficiency of floor finishes, while the impact construction industry worldwide - buildings. sound insulation should be India plays a pivotal role in Asia Ÿ Recyclability of materials. evaluated for the entire floor area. specific region. Remarkable new Ÿ Durability.

10 11 June-July 2021 / VOL. 11 VOX-POPULI

V V Ÿ There are confusions in the south, and the Lakshadweep Sea to

O Deﬁnition of a Promoter. the west which adds on to it’s beauty. O Ÿ Anybody who is actually involved Malayalam is the most widely spoken

10 11 June-July 2021 / VOL. 11 THE UPDATES

2. Life Cycle Cost: it is required to CONCLUSION Valuers can easily adopt the method consider the costs incurred in the in practical cases. However, it did not As the availability and acceptability THE UPDATES construction and maintenance consider the change of physical among customers is grown, various iov-rvf phases for optimising the p e r f o r m a n c e ( d e c r e a s e d kinds of building materials are being overall cost of a building. The performance) over time. It is d e v e l o p e d . T h e p h y s i c a l performance of the building advisable to incorporate the change EXTRACT FROM UPDATED CEP POLICY FOR REGISTERED VALUERS performance value and the LCC are gradually depreciates due to of physical performance (decreased substituted in cost-effectiveness various factors such as climate and performance) of the building analysis model, the time required to physical environment. Hence the elements with due diligence. make the optimal choice of the maintenance cycle are repeated C O N T I N U O U S E D U C AT I O N 20.03.2020) a r e r e q u i r e d t o e a r n building elements can be reduced. cyclically until the life of the PROGRAM (CEP) 1.8. IOV-RVF shall notify the mandatory Credit Hours in building is completed. manner for conducting CEP for proportion to the months left 1.1. CEP Policy dated July 10, 2021 Registered Valuer Members. to complete the financial year. shall supersede all the previous 1.9. The IOV-RVF either by itself or 1.13. A member is awarded CEP policies of CEP issued by IOV- through other approved RVOs credit hours by the IOV-RVF Know the writer RVF at any point of time and shall hold a sufficient number b a s e d o n t h e l e a r n i n g shall have effect from April 01, of CEP programs in the activities undertaken during Mr. Kumar’s favourite place is spices. To prepare this easy vegetable and curry leaves. Your dish is ready to 2021 onwards. c o u n t r y e n a b l i n g i t s the financial year by attending Munnar; also known as ‘Kashmir of recipe, take a grinding jar and add red serve. 1.2. Every Registered Valuer Member Registered Valuer Members to Technical sessions in the CEP South India’ which is a hill station on pepper powder, coconut, and green Being a movie bluff, he is a fan of of IOV-RVF is required to earn a participate and earn the Programs. For one Technical Western Ghats located 1600 m above chilies. Also, add cumin seeds and 4-5 Malyalam movies and has seen minimum Mandatory Credit of required number of CEP credit Session, a Registered Valuer MSL at Idukki dist in Kerala. One can tbsp water. Grind together till it almost all movies from the eighties. 16 CEP hours in a financial year, hours in a financial year. M e m b e r o f I O V - R V F i s find few rare species here at becomes a smooth paste, add more In his own words, ‘The eighties failing which, his Certificate of 1.10. The IOV-RVF either by itself or awarded 1 [one] point. Kurinjimala Sanctuary, Chinnar Wild water if it’s too thick. Cut the witnessed the blossoming of new Practice shall not be renewed. t h r o u g h i t s p r o m o t e r 1.14. A member shall be awarded Life Sanctuary, Eravikulam National vegetables into thin slices in a large wave in Malayalam cinema earning it No carry forward of any excess organization i.e. IOV can CEP credit hours by attending Park etc. The view of tea plantations bowl. Take a shallow pan and heat it National and International accolades. or short CEP credit hours shall o r g a n i z e o n l y o n e C E P webinars which are conducted caressed by blankets of mist, exotic on a medium flame. Pour remaining Notable films in this genre during the be allowed to the next financial program in one financial year. for the CEP Programs only and flora found in forests etc makes this water and heat till water boils. Add eighties were Adoor's Elippathayam year to any Registered Valuer 1.11. CEP Credit hours shall be i t i s m e n t i o n e d i n t h e place one of the best destinations to sliced vegetables in water and add (1981), which won the British Film Member. calculated from the month of announcement that persons visit by nature lovers. turmeric powder. Sprinkle some salt Institute award for Most Original and 1.3. CEP for a programme attended registration with IBBI (we can who will attend particular and mix the ingredients well. Once, Imaginative film in 1982. Lenin by Valuer members cannot be put calculation artwork in this webinar shall be awarded CEP Diwali and Onam are two festivals the vegetables are tender and nicely Rajendran and T.V.Chandran also used to comply with the CEP point for the reference) credit points, every webinar which brings joy to him. Onam is also cooked, add the previously made came out with some quality works in requirements of multiple 1.12. M e m b e r s r e g i s t e r e d i n shall not be considered as CEP special for Mr. Kumar for ‘Onam paste and mix it well with vegetables. the eighties. Piravi was another professions and can be used between of the financial year Program. S a d h y a ’ , w h i c h i s a 2 6 - d i s h Cover the pan with a lid for another landmark film in the new wave genre only once. vegetarian feast that is served on the minute, till the vegetables completely bagging the National Film Awards for 1.4. CEP Credits are accorded only 10th day of Onam. He fondly shares absorb the coconut masala paste. Best Film, Best Director, and Best f o r t e c h n i c a l s e s s i o n s the recipe of his favourite dish 'Aviyal' Then add yoghurt and toss the LE ARNING ACTIVITIES AND CEP CREDIT HOURS Actor(Premji) in 1989 and also several c o n d u c t e d d u r i n g a which he prepares himself. Aviyal is a vegetables well. Cook for another international awards. programme. healthy recipe mix of vegetables minute and garnish with coconut oil S.No. Learning Activities in the areas relevant for Rvs Credit Hours cooked to perfection with some mild 1.5. A V a l u e r M e m b e r c a n p a r t i c i p a t e i n t h e C E P 1. Workshops, Conferences, Seminars, Training Credit for the programme organized by any Programs, Refresher Programs, Certificate duration of RVO and would be provided Courses, Conventions and Symposia and the like. technical sessions. credit for the same. 2. Acting as faculty in any of the activities in Sl. No. 1 Equivalent to the duration of the Explanation :- CEP Program will be activity. awarded only if the Valuer Member 3. Publication of article in any national newspaper. 4 hours attains the program for his respective asset class. 4. Publication of article in a journal of the Board, 4 hours an IPA, a RVO, a Professional Institute, or a 1.6. To ensure the quality of reffered national or international journal bearing ISSN number. education imparted, IOV-RVF shall not admit more than 100 5. Publication of a book bearing an ISBN number. 16 hours participants in (one) CEP. 1.7. CEP will be conducted through 6. Pass in Limited Insolvency examination. 16 hours both offline and online mode 7. Pass in Valuation Examination of an asset 16 hours ( v i d e C i r c u l a r N o . class by the Registered Valuer. IBBI/RV/032/2020 dated

12 13 June-July 2021 / VOL. 11 THE UPDATES

Ÿ Launched the ﬁrst ever app for We strive 1. valuers by any RVO. to provide excellence TOTAL TOTAL Ÿ All android and iPhone users can download. with each and every step CEPs 158 MEPs 307 Ÿ Dynamic design, user friendly that we take in. HELD HELD features with ‘just a click’ accessibility. This is a reﬂection Ÿ Now can also be downloaded TOTAL STUDY directly from www.iovrvfhub.org of what we do COPs 76 CIRCLE 2 by clicking on these icons and where we stand. HELD available at bottom of the (All the data provided is till July 2021) HELD webpage.

2. 4. Y

VALUERS REGISTERED 3. WITH IBBI VIS A-VIS OTHER RVO

AIGNS JUNE-JUL 5. Launched ‘STUDY CIRCLE’ Free Refresher classes for all three asset classes CAMP

I AL TIONS GRAND TOT

The ﬁrst batch was started from 5th June 2021 for OMO Land & Building, Plant & Machinery and Securities or ﬁnancial assets. PR

14 15 June-July 2021 / VOL. 11 THE UPDATES

2. 4. Y

VALUERS REGISTERED 3. WITH IBBI VIS A-VIS OTHER RVO

AIGNS JUNE-JUL 5. Launched ‘STUDY CIRCLE’ Free Refresher classes for all three asset classes CAMP

I AL TIONS GRAND TOT

The ﬁrst batch was started from 5th June 2021 for OMO Land & Building, Plant & Machinery and Securities or ﬁnancial assets. PR

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