RICS and IOS Sign MOU to Advance Valuation Education and Regulation in India
RICS, a global professional body that promotes the highest standards in Valuation, is delighted to announce the signing of a Memorandum of Understanding (MOU) with the Institution of Surveyors (IOS). The MOU is part of RICS’ commitment to supporting Valuation professionals in India.
The agreement between RICS and IOS will create more opportunities for professionals by providing them access to world-class training, qualifications, and standards. The collaboration will support the education and regulation of Valuation professionals in India, ensuring the highest professional standards and providing trust and confidence to clients when engaging Valuers in India.
To mark the signing of the MOU, RICS and IOS held a launch event in Kolkata featuring a panel discussion on the importance of education and regulation of the Valuation profession in India. The speakers, drawn from both RICS and IOS, provided insights into the role of the professions in supporting the economy and the need for quality standards in Valuation.
Speaking on occasion, Mr. Ashwani Awasthi, Managing Director – South Asia, RICS said, “The signing of the MOU between RICS and IOS marks a significant milestone in RICS’ mission to support quality and excellence in Valuation. We are committed to protecting and promoting Valuation professionalism in India and deepening our collaborative relationship with the Institution of Surveyors.”
Suvasis Paul, Vice President, IOS – “I am delighted that we have finally come to this day. We had worked jointly for last one year to materialise this. This is historic as this MOU is between Institution of Surveyors(I) the oldest national professional institution and Royal Institution of Chartered Surveyors (RICS) the oldest international professional institution on Surveying and Valuation. This MOU commits us to work together closely towards our common goal of development of valuation profession, educational developments, setting up the standards, professional ethics, spread awareness among the stakeholders, strong pursue for professional regulations & deployment of qualified professionals.”
The MoU is a significant milestone in RICS’ commitment to supporting and growing the Valuation profession and ensuring that trained, professional Valuers are available for the Indian economy. The agreement between RICS and IOS will help ensure the highest professional standards, providing the trust and confidence that clients need when engaging Valuers in India. In future, RICS will continue its commitment to quality and excellence in valuation with IOS.
RICS is a global professional body that promotes and enforces the highest professional standards in developing and managing land, real estate, construction, and infrastructure. RICS’ mission is to encourage and support the highest standards in Valuation, ensuring that Valuers are trained to the highest standards and are available for the global economy.
Late Prime Minister Jawaharlal Nehru in 1950 took initiative to establish the Institution of Surveyors (India) in New Delhi (an all India institution) to prescribe the syllabi and conduct professional degree level examinations in i) Land Survey; ii) Cadastral Survey; iii) Hydrographic Survey; iv) Mine Survey; v) Building & Quantity Survey; and vi) Valuation Survey. This is the only recognized degree level professional institution in the country in its respective field since 1950.
Since then this Institution has been regularly conferring Degree to the successful candidates which are recognised by the Ministry of Human Resources Development, Govt. of India as equivalent to a Degree and by Union Public Service Commission as suitable for senior posts and services under the Central Govt and also recognised by different state governments and autonomous bodies.