How do valuers contribute towards the economy

In today's era of liberalisation and globalisation, the role of valuers has become significant. The valuer's work is not limited to the valuation of assets but also has a substantial role in stabilising the economy apart from generating more profits for the government. The valuation of assets plays a significant role in commercial, financial and economic planning. RBI (Reserve Bank of India) had announced a compulsory act for all the banks to value their financial securities and assets every three years, as valuation is a significant turning point in the techno-legal government procedure. Big bankers make decisions of crores of rupees depending upon the assessment of the valuers. Valuer's work nowadays has become more complicated owing to advancements in technology which has somehow turned down the error rate. When delivering a valuation report, the valuer structure the basis for the taxation, security for a loan and selling. The valuers provide guidance on the actual market price in a written report explaining how the value assessment has been executed. The valuers are generally expected to make a report subject to the principles and standards which are internationally accepted. Real estate ownership/ transfer is among the most crucial factors in terms of capitalism. Ownership led to liquidity and empowered an individual to utilise the liquidity as initial capital for a business activity accordingly driving the economy. The valuation made uniform conditions in the economy.