Chandigarh, July 24:– The Haryana Government has approved a comprehensive code of conduct for panelized valuers to ensure fair, transparent and accountable valuation of land under the notified policy in the year 2021. Disclosing this in this regard, Dr. Sumita Mishra, Financial Commissioner, Revenue and Disaster Management Department, said that valuers violating the prescribed code of conduct can be removed from the panel, their valuation fee can be forfeited and a fine up to Rs 1 lakh can be imposed on them depending on the seriousness of the violation.
This policy prepared by the Revenue and Disaster Management Department sets a uniform ethical and professional framework for the panelized valuers engaged by the state government for land valuation.
Under this code of conduct, every panellist valuer will be required to comply with the applicable provisions of the Haryana Land Revenue Act, 1887, the Indian Stamp Act, 1899, the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013, the Real Estate (Regulation and Development) Act, 2016, the Companies (Registered Valuers and Appraisers) Rules, 2017 and other relevant Central and State laws, rules, regulations and government instructions.
Dr. Mishra said that the valuers will also have to follow the guidelines issued by their parent organisations (such as the General Income Tax Department, State Bank of India and government-owned insurance companies) wherever applicable.
One of the key provisions of this policy is that it will be mandatory for every panellist valuer to submit a ‘conflict of interest’ declaration before commencing any valuation work. This code of conduct will also be reviewed every two years to keep it in tune with the changing legal and professional requirements.
He said that the policy has prescribed several grounds for removal from the panel, which include undervaluation or overvaluation of land, preparation of valuation report with malicious intent, professional misconduct, involvement in fraudulent activities like submission of fake bills, delay in submission of valuation report beyond the stipulated time limit and threatening, intimidating or abusing government officials, employees or representatives.
He further said that another important provision is automatic removal of a valuer from the panel, if his registration is suspended or withdrawn by his parent regulatory body (such as SEBI, RBI, General Income Tax Department, SBI or any other competent authority).
According to Dr. Mishra, the policy also provides for a detailed grievance redressal mechanism. In cases involving alleged violation of the code of conduct, the Administrative Secretary of the concerned department will submit a report of the matter with specific details to the Revenue and Disaster Management Department. The officer appointed by the department will conduct the inquiry after giving an opportunity of hearing to both the concerned department and the panelised assessor before making a recommendation.
The Financial Commissioner of the Revenue and Disaster Management Department will have the power to impose a fine up to Rs. 1 lakh, depending on the gravity of the violation, in addition to forfeiting the assessment fee. The policy further provides that the fine may be recovered as arrears of land revenue under the Haryana Land Revenue Act, 1887.
Dr. Sumita Mishra informed that as per this policy, the objective of this framework is to ensure greater transparency, fairness and accountability in the valuation of land and other government properties for various government departments, boards, corporations, Panchayat Raj institutions and urban local bodies by setting uniform ethical standards and clearly defining the responsibilities and liabilities of the panelised valuers.