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Eligibility

Eligibility

Find out what requirements are needed for membership to the RICS RVO India and registration with IBBI (the Authority).

The RICS RVO India follows all the requirements of eligibility for registration with the authority. In addition, to ensure RICS RVO India valuers meet the highest global standards for professional competency, the Board of Directors of RICS RVO India has adopted the professional competency requirements promulgated by RICS.

Authority Requirements

No individual shall be enrolled as a member if they are not eligible to be registered as a registered valuer with the Authority in accordance with Rule 3 of the Companies (Registered Valuers and Valuation Rules), 2017. To be eligible for registration by the Authority, the individual must:

Requirements

    1. Possess qualification and experience as set forth in Rule 4 of the Companies (Registered Valuers and Valuation Rules), 2017, and Annexure IV, as amended 13 Nov 2018:

      - a post-graduate degree or post-graduate diploma in their discipline, from a university or institute established, recognised or incorporated by law in India and at least three years of experience in the discipline; or

      - a bachelor's degree or equivalent, in their discipline, from a university or institute established, recognised or incorporated by law in India and at least five years of experience in the discipline thereafter; or

      - membership of a professional institute established by an Act of Parliament enacted for the purpose of regulation of a profession with at least three years' experience after such membership and having qualification mentioned at clause (a) or (b) above.

    2. Not be a minor.
    3. Not have been declared to be of unsound mind.
    4. Not been undischarged bankrupt, or not have applied to be adjudicated as a bankrupt.
    5. Be a person resident in India.
    6. Not have been convicted by any competent court for an offence punishable with imprisonment for a term exceeding six months or for an offence involving moral turpitude, and a period of five years has not elapsed from the date of expiry of the sentence: Provided that if a person has been convicted of any offence and sentenced in respect thereof to imprisonment for a period of seven years or more, he shall not be eligible to be registered.
    7. Not have 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.
    8. Be a fit and proper person, based on any relevant consideration, including but not limited to:

      - integrity, reputation and character;

      - absence of convictions and restraint orders; and

      - competence and financial solvency.

    9. Attend the required 50-hour training course.
    10. Pass the Valuation Examination conducted by IBBI.

RICS RVO India Professional Competency Requirements

In addition to the requirements set forth by the Authority, in order to be eligible for membership in the RICS RVO India, an individual must also demonstrate certain professional competencies:

RICS professionals

RICS professionals, and individuals who are a member of another body with a direct entry agreement shown to have the equivalent entry requirements as RICS, have already demonstrated these competencies when obtaining that membership. Therefore, these individuals will qualify for the RICS RVO India after meeting the authority requirements.

Approved qualifications for direct entry

Non-RICS candidates

Candidates who are not current RICS professionals, and who are not a member of another body with a direct entry agreement shown to have the equivalent entry requirements, will need to meet the Authority requirements above, and in addition must demonstrate RICS Professional Competencies. These competencies are a mix of technical and professional practice, business, interpersonal, and management skills.

Learn more about professional competencies

Contact us

t +91 124 459 5400

e RVOIndia@rics.org