Glossary · V
Valuation Report
A certified valuer's written estimate of what a property is worth in the market, which a bank uses to set the loan it will give.
What is Valuation Report?
A Valuation Report is a document prepared by a certified, independent property valuer that states the fair market value of a property. The valuer bases it on the location, age, structural condition and built-up area of the property, and on recent comparable sales nearby. Banks need it for a mortgage, because they lend only against the certified value of the collateral.
Practical example
A buyer agrees to purchase a resale apartment for ₹1,00,00,000 and asks the bank for an ₹80,00,000 loan. The bank sends its empanelled valuer to the apartment. The Valuation Report says the apartment is badly deteriorated and worth only ₹75,00,000. The bank refuses the ₹80,00,000 loan because it exceeds the valuation of the asset.
In SuperWise
In SuperWise a valuation report is filed like any other file uploaded against a project, as a project document in a folder, with a stage such as Received or Under Review and a revision history. Access to a folder is set by role for viewing, uploading and deleting.
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