Guwahati: The Institution of Valuers (IOV), a pioneer in the valuation industry, hosted a session on December 16 at Greenwood Resort at Khanapara, Guwahati to raise awareness about valuation and home loans.

In collaboration with Evalo, IVC also introduced the "ekta" software to close the supply-side gap for entry-level employment and digitalize all 766 districts in India. The project is a step in the valuation community's integration with the "Skill India" and "Digital India" campaigns.

President of IOV P K Thiagarajan and General Secretary of IOV and Managing Director and Chief Executive Officer of IOV-Registered Valuer Foundation Vinay Goel, along with the team IOV welcomed the Chief Guest, Principal Chief Commissioner, Income Tax Department, Northeast Region Raju Tyeng, Guest of Honour, Amit Pradhan, ED, IBBI; Executive Director of Northeastern Development Finance Corporation (NEDFi) S K Baruah and other eminent dignitaries like Chair, NFRA Advisory Committee Dr R Narayanswamy, S Sumant Batra, are among 50.

The Insolvency & Bankruptcy Board of India (IBBI) and IOV Registered Valuers Foundation collaborated with the Institution of Valuers (IOV) to put on the conference (IOV-RVF).

Vinay Goel stated to the media that valuation is crucial for any financial transaction. A valuer and a valuation are required if you are purchasing land, a factory, or any other transaction involving these.
He made reference to diversions, mergers, government give-and-take, or bank loans (like home loans) that call for mortgaging properties or other similar things, after which the worth of the mortgaged property is determined. The valuer's task is to determine the value of the mortgaged property.

Our 60-year-old association is named the Institute of Valuers. Every year, the Indian Valuers Congress, a similar event, is held in various locations around the nation.

The Look East Policy serves as the basis for expanding it to the northeastern area. Goel asserts that the area is rife with business potential and opportunities in terms of valuation.

The Guwahati Valuers Congress was founded with the goal of expanding the valuer profession. This cause is being supported by the Indian government. The Insolvency and Bankruptcy Board of India is the organisation responsible for the Institute's goals.

In order to streamline the professional behaviour of valuers, the Ministry of Corporate Affairs has established a regulation for valuers and valuations. Recently, the project reached its five-year milestone.

The Father of Valuation, P.C. Goel, founded the IOV on October 2, 1968, according to P K Thiagarajan, IOV President. For the benefit of the general people, he founded it with the intention of aiding society and the government in some manner. It was made plain by him that "cost is the truth, price is the policy, and value is the opinion." Its duration and objectives change.

Thiagarajan estimates that they have 31,000 valuers and 52 branches.

The 53rd Indian Valuers Congress (IVC) this year focused on "Investing Resources for the Growth & Spread of Valuation Eco-System" in an effort to rev up the movement for stabilising the eco-system in order to expand its penetration and benefit society at large.

The application of developing science, technology, and modern instruments together with statistical methodologies in the valuation process by the valuers' fraternity, which is a current and urgent necessity of the hour, will be one of the main topics for discussion during IVC 2022.

Additionally, two new courses—Business, Intangible, and Financial Instruments Valuation (CBIFV) and Valuation Surveyor—were introduced during the 53rd IVC as part of efforts to advance and enhance the valuation curriculum.

IOV & IOV RVF firmly believe that their efforts will go a long way toward assuring a bright and sustainable future for the honourable profession of valuation, which has evolved into a need in the developing economic arena thanks to the sort of support and responsiveness provided by Valuers throughout India.

The facility is entirely supported by volunteers.

Business-Northeast quoted P K Thiagarajan as saying, "They need to comprehend the happenings in the state to know what purpose they have in the northeast. Given the amount of work being done in the state, he anticipates that Assam would rank among the top states in the nation within five years.

They would consider how they can contribute to and develop this region in their own manner, he continued, noting that it is in the northeast and that Guwahati is a gateway.

Business will flourish as conditions improve. 

In response to a question from Business-Northeast about how illiterate individuals in some businesses will be able to contact their institution, he responded that they will undoubtedly assist them in finding a solution. But prior knowledge is necessary. Once they have the fundamental information, they can own it. The government intends to implement 10+2 in the future. To assist those folks in the future, they are ready to hold classes for them. In fact, they are eager to launch a distinct course on government valuation.

The Indian Valuers Congress will be in Guwahati from December 16–18. This is being done in an effort to not only reach that area on its own, but also to attempt to open doors for the South East Asian region. By seeking to expand the Indian valuation ecosystem toward globalisation, new chapters of alignment in the valuation industry are therefore being opened.

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