JLL, CBRE, other global realty consultants take on valuer rules in Delhi HC

Post September 30, some 50-odd individual registered valuers will carry out all valuation exercises countrywide, across various asset classes, said industry sources

A clutch of international property consultants (IPCs), including JLL, CBRE, Cushman & Wakefield and Knight Frank, have challenged the constitutional validity of valuer rules under Companies Act that puts restrictions on certain companies from becoming a registered valuer.

According to a notification by Ministry of Corporate Affairs, from October 1 onwards a company that is a subsidiary, an associate company or a joint venture, will not be allowed to register as a valuator under the Companies Act or the Insolvency and Bankruptcy Code.

So in effect, after September 30, around 50-odd individual registered valuers will carry out all valuation exercises