IBBI Registered Valuer Exam Syllabus (Phase 6)
Every module and its weight, for all three asset classes, from IBBI's own Phase 6 notice.
The IBBI Registered Valuer exam has a separate syllabus for each asset class: Land and Building, Securities or Financial Assets (SFA), and Plant and Machinery. IBBI publishes each one with a weight for every module, out of 100 marks, and the weights are the best guide to where your study time should go.
This page covers Phase 6, which IBBI notified on 20 May 2026 and which applies to exams taken from 21 August 2026. Wherever the syllabus names a law, rule or regulation, IBBI says it is to be read as notified on 30 June 2026. If you are reading an older guide that shows Phase 5 weights, some numbers will not match.
Every class shares two things: a 26-mark block of three case studies, and short modules on economics, ethics and the Registered Valuers Rules. The rest is specific to the asset class, and in each case the core valuation module is the single largest block.
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Land and Building Syllabus (Phase 6)
Valuation of Real Estate carries 35 of the 100 marks, and the case studies a further 26.
1
Module
Principles of Economics (Microeconomics 3, Macroeconomics 3)
Weight (%)
6
2
Module
Book-keeping and Accountancy
Weight (%)
3
3
Module
Laws (General)
Weight (%)
7
4
Module
Introduction to Statistics
Weight (%)
2
5
Module
Environmental Issues in Valuation
Weight (%)
3
6
Module
Professional/Business Ethics and Standards
Weight (%)
3
7
Module
Laws related to Real Estate
Weight (%)
7
8
Module
Valuation of Real Estate (basics 9, income approach 7, market approach 7, cost approach 7, purposes of valuation 5)
Weight (%)
35
9
Module
Principles of Insurance and Loss Assessment
Weight (%)
3
10
Module
Report Writing
Weight (%)
3
11
Module
Important Case Laws on Valuation of Real Estate
Weight (%)
2
12
Module
Case Studies (three cases)
Weight (%)
26
| # | Module | Weight (%) |
|---|---|---|
| 1 | Principles of Economics (Microeconomics 3, Macroeconomics 3) | 6 |
| 2 | Book-keeping and Accountancy | 3 |
| 3 | Laws (General) | 7 |
| 4 | Introduction to Statistics | 2 |
| 5 | Environmental Issues in Valuation | 3 |
| 6 | Professional/Business Ethics and Standards | 3 |
| 7 | Laws related to Real Estate | 7 |
| 8 | Valuation of Real Estate (basics 9, income approach 7, market approach 7, cost approach 7, purposes of valuation 5) | 35 |
| 9 | Principles of Insurance and Loss Assessment | 3 |
| 10 | Report Writing | 3 |
| 11 | Important Case Laws on Valuation of Real Estate | 2 |
| 12 | Case Studies (three cases) | 26 |
What the Land and Building Modules Cover
- check_circleLaws (General): contract, tort, arbitration, auctions and evidence; the Insolvency and Bankruptcy Code; Companies Act sections 192(2), 230-232, 247 and 281(1); the Registered Valuers Rules; SARFAESI; section 5(n) of the Banking Regulation Act.
- check_circleLaws related to Real Estate: the 2013 land acquisition (fair compensation) Act, building rules, rent control, easements, RERA, the Transfer of Property Act (including sections 53 and 53A) and succession laws.
- check_circleValuation basics: cost, price and value; highest and best use; capitalisation, years' purchase, sinking fund and reversionary value; valuation tables; green buildings.
- check_circleIncome approach: rent-controlled, licensed and leasehold property; yield rates; lessor's and lessee's interests; DCF, IRR and NPV; the profit method for hotels, cinemas, malls and petrol pumps.
- check_circleMarket approach: sale-instance comparison and adjustment weights, hedonic and adjustment-grid models, hypothetical plotting for large land, the residue technique and joint development.
- check_circleCost approach: building cost estimates, economic and physical life, depreciation and obsolescence, depreciated replacement cost.
- check_circlePurposes: bank finance, auction reserve, insurance, probate, partition, stamp duty and capital gains; IBBI's valuation guidelines under the IBC; International Valuation Standards (updated January 2025); Ind AS 16, 36, 40 and 113.
- check_circleCase law includes R.C. Cooper v. Union of India, CWT v. P.N. Sikand and Chimanlal Hargovinddas v. SLAO, Pune.
Securities or Financial Assets Syllabus (Phase 6)
Valuation Application alone carries 33 marks, and General Laws 18, the heaviest law module of any class.
1
Module
Macroeconomics
Weight (%)
3
2
Module
Finance and Financial Statement Analysis
Weight (%)
6
3
Module
Professional/Business Ethics and Standards
Weight (%)
3
4
Module
General Laws
Weight (%)
18
5
Module
Financial Reporting under Ind AS (fair value, Ind AS 36, 103, 109, 113)
Weight (%)
3
6
Module
Overview of Valuation
Weight (%)
4
7
Module
Valuation Approaches (cost, market, income)
Weight (%)
3
8
Module
Valuation Application
Weight (%)
33
9
Module
Judicial Pronouncements on Valuation
Weight (%)
1
10
Module
Case Studies (three cases)
Weight (%)
26
| # | Module | Weight (%) |
|---|---|---|
| 1 | Macroeconomics | 3 |
| 2 | Finance and Financial Statement Analysis | 6 |
| 3 | Professional/Business Ethics and Standards | 3 |
| 4 | General Laws | 18 |
| 5 | Financial Reporting under Ind AS (fair value, Ind AS 36, 103, 109, 113) | 3 |
| 6 | Overview of Valuation | 4 |
| 7 | Valuation Approaches (cost, market, income) | 3 |
| 8 | Valuation Application | 33 |
| 9 | Judicial Pronouncements on Valuation | 1 |
| 10 | Case Studies (three cases) | 26 |
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What the SFA Modules Cover
- check_circleGeneral Laws: Companies Act chapters on share capital, compromises and amalgamations, registered valuers and winding up; the Transfer of Property Act; the Indian Stamp Act; the Income-tax Act, 2025 (including valuation, transfer pricing and ESOPs); the IBC and SARFAESI.
- check_circleSEBI regulations: takeovers (SAST), insider trading (PIT), ICDR, delisting and share-based employee benefits; FEMA rules on non-resident investment and FDI pricing (where the syllabus names the FEMA (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2017, note that the FEMA (Non-Debt Instruments) Rules, 2019 replaced them from 17 October 2019); RBI norms on bank investment portfolios and sale of stressed assets.
- check_circleValuation Application: business and industry analysis (Porter, SWOT, PEST), business combinations and due diligence, forecasting, cost of capital (CAPM, WACC, APT), discounts and premiums.
- check_circleStandards: IBBI's valuation guidelines under the IBC and the International Valuation Standards as updated in January 2025.
- check_circleFixed income and derivatives: bond types, yields, duration, credit ratings, embedded options, swaps, FIMMDA guidance, and option models (Black-Scholes, binomial, Monte Carlo).
- check_circleIntangibles: classification, purposes, and the excess earnings, relief-from-royalty, premium profit, greenfield and distributor methods.
- check_circleSituation-specific valuation: distressed assets, start-ups, SMEs, cyclical firms and investment entities.
- check_circleJudicial pronouncements include Miheer H. Mafatlal v. Mafatlal Industries and Tata Consultancy Services v. Cyrus Investments.
Plant and Machinery Syllabus (Phase 6)
The smallest of the three exams. Valuation of Plant and Machinery carries 31 marks, plus 6 for Industrial Processes.
1
Module
Principles of Economics (3 + 3)
Weight (%)
6
2
Module
Book-keeping and Accountancy
Weight (%)
3
3
Module
Laws (General)
Weight (%)
9
4
Module
Introduction to Statistics
Weight (%)
2
5
Module
Environmental Issues in Valuation
Weight (%)
3
6
Module
Professional/Business Ethics and Standards
Weight (%)
3
7
Module
Law (Plant and Machinery)
Weight (%)
2
8
Module
Valuation of Plant and Machinery
Weight (%)
31
9
Module
Machine Tools, Factory, Utility Equipment and Electrical Installations
Weight (%)
2
10
Module
Industrial Processes
Weight (%)
6
11
Module
Principles of Insurance and Loss Assessment
Weight (%)
3
12
Module
Report Writing
Weight (%)
3
13
Module
Important Case Laws
Weight (%)
1
14
Module
Case Studies (three cases)
Weight (%)
26
| # | Module | Weight (%) |
|---|---|---|
| 1 | Principles of Economics (3 + 3) | 6 |
| 2 | Book-keeping and Accountancy | 3 |
| 3 | Laws (General) | 9 |
| 4 | Introduction to Statistics | 2 |
| 5 | Environmental Issues in Valuation | 3 |
| 6 | Professional/Business Ethics and Standards | 3 |
| 7 | Law (Plant and Machinery) | 2 |
| 8 | Valuation of Plant and Machinery | 31 |
| 9 | Machine Tools, Factory, Utility Equipment and Electrical Installations | 2 |
| 10 | Industrial Processes | 6 |
| 11 | Principles of Insurance and Loss Assessment | 3 |
| 12 | Report Writing | 3 |
| 13 | Important Case Laws | 1 |
| 14 | Case Studies (three cases) | 26 |
The 26-Mark Case Study Block
In every asset class, IBBI sets three case studies: one with six 2-mark questions (12 marks), one with four (8 marks) and one with three (6 marks). Each case opens with a passage describing a transaction, and the questions are asked from it. That is more than a quarter of the paper, so practise reading a case and answering from it under time pressure.
IBBI Valuer Syllabus: Common Questions
Which syllabus applies to my exam?expand_more
The Phase 6 syllabus applies to every valuation exam taken from 21 August 2026. IBBI notified it on 20 May 2026, and laws are read as notified on 30 June 2026.
Which module carries the most marks?expand_more
The core valuation module of your asset class: Valuation of Real Estate (35) for Land and Building, Valuation Application (33) for SFA, and Valuation of Plant and Machinery (31) for P&M. The 26-mark case study block comes next in every class.
Is the syllabus the same for all asset classes?expand_more
No. The short common modules (economics, ethics, the Registered Valuers Rules) overlap, and every class has the same 26-mark case study block, but the law and valuation modules are specific to each asset class.
What changed in Phase 6?expand_more
Among the changes: Land and Building's Laws (General) module dropped from 9% to 7%, the Digital Personal Data Protection Act, 2023 joined the ethics module, and SFA now covers the Income-tax Act, 2025 and the January 2025 International Valuation Standards.
Where can I download the official syllabus?expand_more
From IBBI's Valuation Examinations page, or the Phase 6 press release itself (IBBI/PR/2026/09), linked in the sources below.
Check Before You Study
IBBI revises the syllabus, format and fees by press release, phase by phase. Confirm the current details on IBBI's Valuation Examinations page and NISM's enrolment portal before you book or pay.
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