GOVERNMENT APPROVED PROPERTY VALUATION · PAN INDIA

Government Approved Property Valuers India — Sale | Purchase | Gift | Bank | NRI

You are selling a property you bought in 1988 for ₹4.5 lakh. The current sale price is ₹1.8 crore. The circle rate is ₹1.95 crore. Without the right certificates, two problems are about to compound: Section 50C taxes you on ₹1.95 crore, not ₹1.8 crore; and the capital gain is computed against your 1988 purchase price of ₹4.5 lakh — creating a potentially very large taxable gain.

With the right certificates, a Government Approved Property Valuer’s FMV Certificate establishing the genuine open-market value at ₹1.8 crore can support a Section 50C(2) challenge. A Section 55(2)(b) Certificate establishing the FMV as on 1 April 2001 can establish the applicable cost basis for capital-gain computation.

Under Finance Act 2024, the applicable capital-gain computation can materially affect the outcome for pre-2001 property. The Section 55(2)(b) FMV Certificate can therefore be an important document when disposing of older property.

A2Z Valuers, under Nitesh Shrivastava — Civil Engineer, Government Approved Valuer, Section 34AB Categories I & II and IBBI L&B, provides professional valuation support across India, including engagements associated with EPFO/NBCC Sector-44 Gurgaon and Civil Services Officers’ Institute, Chanakyapuri. 250+ professional valuation services are supported across India.

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Nitesh Shrivastava Civil Engineer Government Approved Property Valuer

Nitesh Shrivastava Civil Engineer · Government Approved Valuer Section 34AB · Categories I & II · IBBI L&B

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Nitesh Shrivastava

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WHAT PROPERTY OWNERS OFTEN LEARN TOO LATE

Three Property Valuation Facts That Can Each Save You Several Lakh in Tax

The right valuation at the right stage can make a significant difference to how a property transaction is documented, assessed and defended.

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The Circle Rate Is Not the Market Value

The Sub-Registrar’s circle rate / Stamp Duty Value (SDV) is used for stamp-duty purposes. It may differ from the genuine open-market value of a property.

Under Section 50C(2), where the statutory conditions are met, the taxpayer can seek consideration of the actual fair market value through the prescribed assessment process. A Government Approved Property Valuer’s FMV Certificate can provide important supporting evidence.

Key timing: Commission the valuation before the transaction and keep the supporting evidence ready for assessment.

2001

The 1 April 2001 FMV Certificate

If property was acquired before 1 April 2001, the applicable tax rules can allow the FMV as on 1 April 2001 to be used as the cost of acquisition, subject to the statutory framework.

For older properties in locations such as GK, Defence Colony or Bandra, establishing the historical FMV can be particularly important because the original purchase price may be many decades old.

Key document: Section 55(2)(b) FMV Certificate for the applicable 1 April 2001 valuation.

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Buying Below the Circle Rate Can Create a Tax Issue

Under Section 56(2)(x), specified differences between the property’s Stamp Duty Value and the consideration paid may have tax consequences for the buyer, subject to the statutory conditions and exceptions.

An independent Government Approved Property Valuation Certificate can document the property’s market evidence where the statutory framework permits valuation to be considered.

Key timing: Obtain independent valuation evidence before completing the purchase whenever the circle rate and negotiated price differ materially.

Unsure which valuation applies to your property? Discuss your transaction with the valuation team before you sign or complete the transaction.

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CREDENTIALS & EXPERIENCE

Professional Property Valuation Built for Statutory and Commercial Requirements

A2Z Valuers combines professional valuation expertise with situation-specific documentation for property owners, businesses, banks, professionals and statutory requirements across India.

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Government Approved Valuer

Section 34AB, Categories I & II

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Land & Building (L&B) valuation for applicable IBC/CIRP and corporate requirements.

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Professional valuation support for applicable Income Tax Department requirements.

Institutional Engagements

EPFO/NBCC Sector-44 Gurgaon and Civil Services Officers’ Institute, Chanakyapuri.

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250+

Professional Valuation Services

250+ professional valuation services supported across India.

PAN INDIA One valuation practice for multiple property situations.

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