India: Royal Institution of Chartered Surveyors (RICS) has introduced AssocRICS – an entry-level grade of membership in India. According to RICS press statement, to extend professionalism and standards beyond the top tier of chartered professionals, RICS has established a new associate grade of membership – AssocRICS.
This entry-level, non-chartered qualification is a significant addition to RICS operations in India, as until now, only the chartered qualification (MRICS/FRICS) was being offered to senior professionals in the industry. With this, RICS aims to extend professionalism and standards beyond the top tier of chartered professionals.
To begin with, AssocRICS will be offered in the area of property valuation to address the dearth of qualified valuation professionals and the lack of adoption of established standards in the industry. As an entry-level qualification, AssocRICS instantly becomes relevant to thousands of property evaluators who may not have formal education in evaluation, but have sufficient work experience to demonstrate their competence as per required standards and hence practise as a qualified AssocRICS professional.
Speaking about the announcement, Sachin Sandhir, MD & Country Head, RICS India said, “AssocRICS provides two clear advantages – to the evaluators, it offers professional accreditation that speaks of high standards of competence and ethics; and to the industry, it helps in developing a pool of professionals adopting global standards in property valuation and creating a healthy environment.”
Currently, India is estimated to have approximately 20,000 evaluators of which only 1,000 have formal education in property valuation.
To qualify as an RICS Associate (AssocRICS), property evaluators in India must successfully complete a common entrance examination including an ethics test and submit a portfolio of work-based evidence online for assessment against RICS standards.
Source: Deccan Herald