Credit rating agency CRISIL has started grading real estate valuers with the very first grading announced for a Mumbai based valuer. The grading of real estate valuers is expected to facilitate benchmarking for the valuers and also help banks, housing finance companies, real estate mutual funds, select real estate valuers for specific valuation assignments.
The company today said that it has assigned ‘Grade 3′ to BDO Haribhakti Consulting Pvt Ltd which, reflects that the valuer’s ability to provide fair property valuations is ‘good’. CRISIL considers parameters like management quality, organisation structure, organisation system and financial strength before grading the valuers, it said in a press release issued here.
The valuer grading by CRISIL meets with the requirement of SEBI regulations which state that the underlying assets of real estate mutual funds can be valued only by those real estate valuers that are accredited by registered credit rating agencies, the statement said.
June 2, 2009
Builders, Real Estate