Tiêu đề ENV issues 231123.pptx ✅

COMPILED BY DR.RAIWINDER SINGH BANSAL on
Syllabus ( 3 Marks) • Environment and valuation - Differences between the market price and the - negative value consequent on environmental impact • Environmental issues of air pollution, water pollution, environmental factors and their effects, measures to restore the damage, cost to cure • Outlines of environmental legislations: the Indian Forest Act, 1927, the Water (Prevention and Control of Pollution) Act, 1974, the Air (Prevention and Control of Pollution) Act, 1981, the Environment (Protection) Act, 1986 • Laws related to industrial health and safety
Both RICS and IVS 2017 guidelines stipulate that though the Valuers need not to be Environmental Experts, but they should have elementary knowledge about the Environmental Issues. In case the Valuer, through normal enquiries or local knowledge, smells a potential presence of any Environmental Issue, he should recommend that an advice of Environmental Expert be obtained. Asset Standard IVS 400 - Real Property Interests [under IVS 2017] requires that the responsibility for identification of actual or potential Environmental Risk should be stated in the scope of work. Otherwise, if the client agrees, a special assumption that "The Property is free from contamination or other environmental risks" should be incorporated in the valuation report.
Environmental Pollutant: It means any Solid, Liquid, Gaseous or Other Substance present in such concentration which may be or tend to be injurious to the Environment giving rise to adverse effect on the marketability of asset. The "Foreign Matter" causing Environmental Pollution is called "Pollutant". Contamination: It is defined as alteration of Physical, Chemical and /or Biological characteristics of the Environment which may not necessarily create deleterious effect due to lesser concentration. Contaminant in higher concentration become Pollutants that may ultimately lead to degradation or deterioration of the value of assets.