The Valuation Standards Advisory Board (VSAB) is an independent Advisory Board constituted
by the Governing Board of the IOV-Registered Valuers Foundation with well-defined and
visionary objectives for the development of the Valuation Profession. It ensures fast-track
capacity building, enabling its Member Valuers to provide Standards-compliant Valuations for
their clients. VSAB aims to elevate the practices within the valuation domain by framing,
developing and standardising Valuation Standards adapted to the Indian context across diverse
asset categories.
VSAB (Valuation Standards Advisory Board) has adopted the International Valuation Standards
until the Central Government notifies the Valuation Standards under Rule 18 of the Companies
(Registered Valuers and Valuation) Rules, 2017, to facilitate the Registered Valuers Members
and other stakeholders and to remove ambiguity and difference in market as well as industry.
The IOV-RVF, through VSAB, was the first RVO in India to conduct the Two-Day Valuation
Standards Training Program in India as early as 2019 in New Delhi. Subsequently, eight training
programs were conducted across India, out of which five training programs were held in
physical mode in five different cities and three Online Training programs held during the
pandemic, i.e., in the years 2020, 2021 and 2022. Around 1100 RVs have completed the
Valuation Standards Training Programs by VSAB of IOVRVF. Feedback and peer reviews
suggest that these RVs can provide Standards-Compliant Valuation across assets and regions
for various statutes.
VSAB is steered by the Chairman, Mr. S. Pichaiya, a well-known personality in the Valuation
Profession, who also represents IOV-RVF as a member of “Committee to advise on Valuation
matters” constituted by the Ministry of Corporate Affairs (MCA). In essence, the Valuation
Standards Advisory Board (VSAB) guides the valuation profession in India towards
standardised practices that enhance credibility, trust, and efficiency in valuation processes.
VSAB includes three Assets Standards Board (ASB) for each Asset Class, namely:
1. Assets Standards Board for Land & Building (L&B)
2. Assets Standards Board for Plant & Machinery (P&M)
3. Assets Standards Board for Securities & Financial Assets (SFA)
Each Assets Standards Board (ASB) is headed by distinguished and well-known Valuers with
expertise in their respective asset classes.