Registered Valuers explained: this guide covers what it means, who it applies to, the step-by-step process, documents required, fees, due dates and penalties in India — so you can stay compliant with confidence and avoid costly mistakes.
Four of the five annexures to the Registered Valuers Rules carry what a valuer actually works with day to day: the model code of conduct (Annexure I), the forms (Annexure II), the qualifications and experience by asset class (Annexure IV) and the fee tables for intimating changes (Annexure V). Annexure III, the governance structure and model bye-laws of an RVO, has its own article. This article reads the annexures as amended up to 1 June 2026 (IBBI consolidated text to 22 November 2022 read with G.S.R. 432(E)); later amendments should be checked.
The Annexure I code has thirty clauses under eight heads and binds every valuer under rule 7(g), and every RVO must put all of it into its own code under rule 12(2)(d). Annexure II holds Forms A to E. Annexure IV sets qualifications for three asset classes and, since 2022, has Note 2 on engineering nomenclature. Annexure V, added in 2022, sets the fees under rules 7A and 14A, plus Goods and Services Tax or other taxes as applicable.
Annexure I: model code of conduct
Annexure I is headed "Model Code of Conduct for Registered Valuers" and refers to clause (g) of rule 7 and clause (d) of rule 12(2). The clauses run from 1 to 30 under eight heads.
| Head | Clauses | What they require |
|---|---|---|
| Integrity and fairness | 1 to 5 | High standards of integrity and fairness with clients and other valuers; honesty and straightforwardness; true and adequate information without misrepresenting facts; no action that brings disrepute to the profession; public interest kept foremost |
| Professional competence and due care | 6 to 11 | High standards of service, due diligence and independent professional judgment; up-to-date knowledge and skill; no disclaiming liability for expertise or denying the duty of care, except to the extent assumptions rest on facts given by the company, its auditors or consultants, or on public information not generated by the valuer; no client instruction incompatible with integrity, objectivity and independence |
| Independence and disclosure of interest | 12 to 19 | Objectivity, without bias, conflict of interest, coercion or undue influence; no assignment where the valuer or a relative or associate is not independent; disclosure of possible conflicts; no dealing in securities of the subject company from the time the valuer becomes aware of the possible association until the report is public, whichever is earlier, in line with the insider trading regulations; no "mandate snatching" or "convenience valuations"; no success fee for an independent valuer; a declaration of association with the company during the last five years in a fairness opinion or independent expert opinion where there was a prior engagement in an unconnected transaction |
| Confidentiality | 20 | No use or divulging of confidential information about the subject company without proper and specific authority or a legal or professional right or duty to disclose |
| Information management | 21 to 24 | Written contemporaneous records of decisions and reasons; availability for inspections and investigations; information and records to the authority, the Tribunal, the Appellate Tribunal, the RVO or any other statutory regulator; working papers for three years or longer if the contract says so |
| Gifts and hospitality | 25 and 26 | No gifts or hospitality that undermine independence ("relative" as in section 2(77) of the Act); no gifts, hospitality or advantages offered to a public servant or any other person to obtain or retain work |
| Remuneration and costs | 27 and 28 | Remuneration charged transparently and reflecting the work necessarily and properly undertaken; no fees other than those disclosed in a written contract |
| Occupation, employability and restrictions | 29 and 30 | No accepting too many assignments to give each adequate time; no business that the authority or the RVO considers discredits the profession |
Two of these clauses connect directly to the rules. Clause 24 matches rule 7(f), which requires records of each assignment for at least three years. Clauses 12 to 19 sit behind rule 8(3)(d), which requires the report to disclose any valuer interest or conflict. Our article on rule 8 covers that report content.
Valuers and valuer organisations that want the code built into their engagement letters and internal manuals can use our compliance advisory support.
Annexure II: the forms
Annexure II holds the forms the rules refer to. This article names what each form is for and does not walk through the fields.
| Form | Rule | Purpose |
|---|---|---|
| Form-A | 6(1) | Application by an individual for registration as a valuer, made to the authority under section 247 for the asset classes listed |
| Form-B | 6(2) | Application by a partnership entity or company, through a partner or director duly authorised |
| Form-C | 6(6) | Certificate of registration granted by the authority, valid from the date stated |
| Form-D | 13(1) | Application by an organisation for recognition as an RVO (printed as "Appendix Form-D", with an appendix) |
| Form-E | 13(5) | Certificate of recognition of a registered valuers organisation, with conditions of recognition and validity |
The fees for Form-A (five thousand rupees), Form-B (ten thousand rupees) and Form-D (rupees one lakh) are in rules 6 and 13, covered in our articles on rules 5 and 6 and rules 12 to 14A.
Annexure IV: eligibility, qualification and experience
Annexure IV is indicative: rule 4, Explanation II, says qualifying education and experience for various asset classes is given in an indicative manner here.
| Asset class | Eligibility qualification | Experience in specified discipline |
|---|---|---|
| Plant and machinery | (i) Graduate in Mechanical, Electrical, Electronic and Communication, Electronic and Instrumentation, Production, Chemical, Textiles, Leather, Metallurgy or Aeronautical Engineering, or graduate in valuation of plant and machinery or equivalent | Five years |
| (ii) Post-graduate on the above courses | Three years | |
| Land and building | (i) Graduate in Civil Engineering, Architecture or Town Planning or equivalent | Five years |
| (ii) Post-graduate on the above courses and also in valuation of land and building or Real Estate Valuation (a two-year full-time post-graduation course) | Three years | |
| Securities or financial assets | (i) Member of the Institute of Chartered Accountants of India, the Institute of Company Secretaries of India or the Institute of Cost Accountants of India; Master of Business Administration or post-graduate diploma in business management (specialisation in finance); (ii) post-graduate in finance | Three years |
For any other asset class, the qualifications and experience are in accordance with rule 4 as specified by the Central Government.
Note 1 says the eligibility qualification means a qualification from a recognised Indian University or equivalent, whether in India or abroad. It was renumbered as Note 1 in 2022.
Note 2, inserted by G.S.R. 831(E) of 21 November 2022, says that for plant and machinery and land and building, the corresponding relevant nomenclature for the branches of engineering and technology of graduate and post-graduate courses referred to in the All India Council for Technical Education notification F. No. 27/RIFD/Pay/01/2017-18 dated 28 April 2017 shall also be considered. For rule 4 itself, see our article on rules 3 and 4.
Annexure V: fees for intimating changes
Annexure V was inserted by G.S.R. 831(E) of 21 November 2022 and is headed "(See rule 7A and 14A)". Both tables add: "plus Goods and Services Tax/other taxes as may be applicable".
Table I: change in details of a registered valuer (rule 7A)
| Sl. no. | Particulars of change | Individual (rupees) | Entity (rupees) |
|---|---|---|---|
| 1 | Communication details like name, address, e-mail etc. | 250/- | 500/- |
| 2 | Transfer of membership of a registered valuers organisation | 500/- | 1,000/- |
| 3 | Change in composition of the Board of Directors, or partners, in the company or partnership entity, as the case may be | Nil | 2,000/- |
| 4 | Change in the Memorandum of Association of the company or the partnership agreement of the partnership entity, as the case may be | Nil | 2,000/- |
| 5 | Any other details | 250/- | 500/- |
Table II: change in details of an RVO (rule 14A)
| Sl. no. | Particulars of change | Fee (rupees) |
|---|---|---|
| 1 | Composition of the governing board of an RVO | 5,000/- |
| 2 | Chief Executive Officer or Managing Director of an RVO | 2,000/- |
| 3 | Name of an RVO | 10,000/- |
| 4 | Registered office address of an RVO | 2,000/- |
Table I prints "Nil" in the individual column for items 3 and 4. The fees are payable to the authority. Table II lists four heads only; rule 14A also mentions "other details", for which the table prints no line.
Example
Dev Malhotra, an individual registered valuer, changes his e-mail address and transfers his membership to another RVO (with the authority's prior permission under rule 7(d)). Under Table I he pays 250 rupees for item 1 and 500 rupees for item 2, plus applicable taxes. An RVO that changes its name pays 10,000 rupees under Table II.
Need help with valuer compliance?
Keeping the code of conduct, the forms and the intimation fees in order is part of running a valuer firm or an RVO. Our team can support this through compliance advisory.
Key takeaways
- Annexure I has thirty clauses under eight heads; rule 7(g) binds each valuer and rule 12(2)(d) requires every RVO's code to include all its provisions.
- No success fee for an independent valuer, no mandate snatching, and a five-year association declaration in fairness opinions.
- Annexure II holds Forms A to E: two applications, two certificates and the RVO application.
- Annexure IV sets qualifications and experience for plant and machinery, land and building, and securities or financial assets.
- Note 2 (2022) allows the AICTE nomenclature of branches for the two engineering-linked classes.
- Annexure V sets the intimation fees: Table I for valuers, Table II for RVOs, each plus applicable taxes.
Read next
- Annexure III: governance structure and model bye-laws of an RVO
- Rules 7, 7A, 9, 10 and 11: conditions of registration and intimation of changes
- Section 247: registered valuers
- Companies (Registered Valuers and Valuation) Rules, 2017: the guide
Disclaimer: Based on the Companies (Registered Valuers and Valuation) Rules, 2017 as consolidated by the Insolvency and Bankruptcy Board of India up to 22 November 2022, read with G.S.R. 432(E) of 1 June 2026 (consulted on 3 October 2026). Later amendments, fees, forms and the Companies Act, 2013 provisions referred to should be checked. This article is general information, not legal advice; check the official text before acting.