Land and Building vs Securities or Financial Assets
Your degree mostly decides your asset class. Here's how the three compare, side by side.
IBBI registers valuers in three asset classes: Land and Building, Securities or Financial Assets (SFA), and Plant and Machinery. Each has its own exam, its own 50-hour RVO course and its own registration, and for most candidates the choice is made by their degree, not by preference.
Civil engineers, architects and town planners qualify for Land and Building. Chartered accountants, company secretaries, cost accountants and finance post-graduates qualify for SFA. Engineers from mechanical, electrical, chemical and similar branches qualify for Plant and Machinery.
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The Three Asset Classes Side by Side
Typical qualification (Annexure IV)
Land and Building
Civil engineering, architecture or town planning
Securities or Financial Assets
ICAI, ICSI or ICMAI member; MBA/PGDBM (finance); PG in finance
Plant and Machinery
Mechanical, electrical, chemical and other listed engineering branches
Experience needed
Land and Building
5 years after graduation, 3 after a relevant PG
Securities or Financial Assets
3 years
Plant and Machinery
5 years after graduation, 3 after a PG
Biggest module
Land and Building
Valuation of Real Estate, 35%
Securities or Financial Assets
Valuation Application, 33%
Plant and Machinery
Valuation of Plant and Machinery, 31%
Law weight
Land and Building
14% (general 7, real estate 7)
Securities or Financial Assets
18% (general laws)
Plant and Machinery
11% (general 9, P&M 2)
Case studies
Land and Building
26%
Securities or Financial Assets
26%
Plant and Machinery
26%
Attempts in 2023-24
Land and Building
1,070
Securities or Financial Assets
648
Plant and Machinery
174
Pass rate in 2023-24 (our arithmetic)
Land and Building
11.9%
Securities or Financial Assets
14.0%
Plant and Machinery
14.4%
| Land and Building | Securities or Financial Assets | Plant and Machinery | |
|---|---|---|---|
| Typical qualification (Annexure IV) | Civil engineering, architecture or town planning | ICAI, ICSI or ICMAI member; MBA/PGDBM (finance); PG in finance | Mechanical, electrical, chemical and other listed engineering branches |
| Experience needed | 5 years after graduation, 3 after a relevant PG | 3 years | 5 years after graduation, 3 after a PG |
| Biggest module | Valuation of Real Estate, 35% | Valuation Application, 33% | Valuation of Plant and Machinery, 31% |
| Law weight | 14% (general 7, real estate 7) | 18% (general laws) | 11% (general 9, P&M 2) |
| Case studies | 26% | 26% | 26% |
| Attempts in 2023-24 | 1,070 | 648 | 174 |
| Pass rate in 2023-24 (our arithmetic) | 11.9% | 14.0% | 14.4% |
What Stays the Same
The exam format is identical across classes: 2 hours, 100 marks, three case studies worth 26, 25% negative marking and a 60% pass mark. The fee is the same ₹5,900 per enrolment, and every class shares the short modules on ethics and the Registered Valuers Rules.
What Each Class Values
- Land and Building
- Real estate: land, buildings, leasehold and rent-controlled property, by the income, market and cost approaches, for purposes from bank finance and auctions to stamp duty and capital gains.
- Securities or Financial Assets
- Shares, businesses, fixed income securities, derivatives and intangibles, for mergers, takeovers, ESOPs, financial reporting and insolvency, under Companies Act, SEBI, FEMA and tax rules.
- Plant and Machinery
- Machines, factories, utility equipment and electrical installations, with industrial processes, depreciation and leasing.
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Can You Hold More Than One Class?
- check_circleYes, if you meet the qualification for each. IBBI registers a valuer separately for every asset class.
- check_circleEach extra class needs its own 50-hour RVO course and its own exam pass.
- check_circleYou can be a member of only one RVO for a particular asset class, but the RVOs for different classes can differ.
Why Registration Matters at All
Under Section 247 of the Companies Act, 2013, a valuation required under the Act must be done by a registered valuer, and IBBI's registration FAQ says that since 1 February 2019 only registered valuers may carry out valuations required under the Companies Act and the Insolvency and Bankruptcy Code. Your asset class decides which of those valuations you can sign.
L&B vs SFA: Common Questions
Which IBBI valuer exam is easier, Land and Building or SFA?expand_more
Neither is easy. By our arithmetic from IBBI's 2023-24 figures, 11.9% of Land and Building attempts passed and 14.0% of SFA attempts. Your qualification usually decides the class anyway.
Can a CA take the Land and Building exam?expand_more
Not on the CA qualification alone. Annexure IV ties Land and Building to civil engineering, architecture, town planning or a real-estate valuation post-graduation. A CA's route is SFA.
Is Plant and Machinery much smaller?expand_more
Yes. IBBI's 2023-24 figures show 174 attempts in Plant and Machinery, against 1,070 in Land and Building and 648 in SFA.
Is the exam pattern the same?expand_more
Yes. Same duration, marks, case-study block, negative marking, pass mark and fee. Only the syllabus differs.
Next steps
- Eligibility & Registrationarrow_forward
- Syllabusarrow_forward
- Land & Building Mock Testarrow_forward
- SFA Mock Testarrow_forward
Then pick the mock test for your asset class.