Professional valuers should be roped in to make valuation of land proposed to be acquired by the govt.

Goa government should engage the services of professional valuers for the purpose of doing valuation of land proposed to be acquired in public purpose, said Mr Shantaram Naik at Margao on Sunday. Mr Naik who was the Chief Guest at a bio-monthly seminar on valuation organized by Goa Branch of the Valuers' Institution of India said that if valuation of land proposed to be acquired by the government is done by professional valuers the land owners will be able to get a better price for their land ,and in some cases, there may not be a need to challenge Deputy Collectors's awards.

Shantaram Naik

Mr Naik said that value of any sale deed executed with respect to a plot of land nearby the property proposed to be acquired cannot be the sole criteria for the assessment , and that, several other factors such as proximity to public amenities, future use of the land on account of the developmental plans of the government etc. must be weighed with equal consideration. Mr Naik said there must be a law to regulate the profession of valuers just as many other professions which are covered under some legislations or the other but Mr Naik added that such a legislation need not lay down any new parameters of valuation but they may basically remain the same which are being conventionally followed by the valuers with modified approach as per the situation.

Mr Naik said physical valuation of a property is a must and that the institutions which engage valuers will get better results if local valuers are engaged ,who are acquainted with the topography of the land and who have a study of ground situation. Mr Naik said that valuation of damage caused by nature's fury like floods, earthquakes, draughts, environmental tragedies should be assessed in a more scientific and realistic manners, for which also, services of valuers can be engaged instead of relying on talathi's assessment who are not trained in the matter.

Mr Naik said mergers and acquisitions which take place in the country have given an added scope to the profession of valuers. At the outset President of Goa Branch of the Institute of valuers Shri Mahendra Caculo welcomed Mr Naik. Engineer Shri Earnest Muniz introduced Mr Naik which Secretary Shri Vincent Gracias proposed the vote of thanks.