The Royal Institution of Chartered Surveyors (RICS), which set up its India operations nearly three years ago, has now formed a new world region ‘RICS South Asia’ as it looks to strengthen its presence in the Asian subcontinent.
The Reserve Bank of India has laid out strict and tedious due diligence standards for banks in sanctioning loans to the real estate sector.
The Royal Institution of Chartered Surveyors has launched the RICS Valuation Standards (the ‘Red Book’) – India edition with valuation standards of global application along with India-specific guidance.
The National Housing Bank (NHB) and Indian Banks’ Association (IBA) are jointly preparing the norms, standards and procedures for real estate valuation.
The demand for commercial property in the country is expected to remain robust in the first half of 2011, boosted by strong manufacturing activities, says a survey by RICS India Commercial Property Survey.
Various factors can negatively affect the value of one’s real estate assets. Being aware of these is an inalienable part of successful property investment.