Uniform realty valuation soon

Kolkata
July 29: A uniform real estate valuing method will be put into place in a few months in the country. The National Housing Bank (NHB) has prepared a draft of real estate uniform valuing methods, the NHB chairman and managing director, Mr S. Sridhar, said on Wednesday.
“Just like uniform accou-nting standards, we need a uniform valuation standard for real estate properties. We have already prepared a draft and are now discussing with valuers and bankers. Once, it is finalised then a uniformity will emerge in real estate valuation,” he elaborated.
Mr Sridhar said that NHB was scouting for a partner for the proposed Indian Mortgage Guarantee Comp-any, where NHB owns 43 per cent stake. “AIG, which had proposed to take 41 per cent stake in the company, withdrew due to financial crisis in October 2008. We are now searching for an alternative,” he added.
Asian Development Bank and International Finance Corporation are the other partners of the company with eight per cent stake each.