Property Valuation as POF for VO New Delhi_Pls advice

[mkshah]

Has anyone provided property valuation reports as POF with their application?

I read so many posts here and they differ in their opinion, few says that it is accepted, others say it is not. ALso it is dependent on VO.\
My VO is New Delhi.
If anyone having VO New Delhi has submitted property valuation as POF.. pls share your experience, have they accepted it or any cases of rejection?

Pls suggest your views and experience.

 

[Cappuccino]

Has anyone provided property valuation reports as POF with their application?

I read so many posts here and they differ in their opinion, few says that it is accepted, others say it is not. ALso it is dependent on VO.\
My VO is New Delhi.
If anyone having VO New Delhi has submitted property valuation as POF.. pls share your experience, have they accepted it or any cases of rejection?

Pls suggest your views and experience.

We submitted under new rules (post June 26) and we included 3 property valuations and a mortgage letter, and a letter from ourselves calculating our equity and the minimum funds required. Our visa office will be London.

Hope that helps,
Wayne.

 

[explorer101]

Has anyone provided property valuation reports as POF with their application?

I read so many posts here and they differ in their opinion, few says that it is accepted, others say it is not. ALso it is dependent on VO.\
My VO is New Delhi.
If anyone having VO New Delhi has submitted property valuation as POF.. pls share your experience, have they accepted it or any cases of rejection?
Pls suggest your views and experience.

Visa office,ND never accepted property valuation as POF, I remember one member( meena) filed property documents and she was told to file POF in liquid form. She narrated this in this forum and after that I havent seen her here. This happened about 1 year back.

 

[johny gaddar]

Hi MKShah....

Well frankly speaking property valuation reports do not get considered by the VISA officers...

I have also sent property valuation reports but only to corroborate my case....as I am also maintaining that required Funds in Liquid ...

If you want to show property valuation report in addition to the liquid amount....no doubt it shall have some weightage...but cant fully rely on it alone....

The other relevant proofs is FIXED DEPOSITS in banks, MUTUAL FUNDS that can be readily transferred into CASH...i think SHARES also...

It is good for you...if you sell one of those properties and put the entire amount in Bank...you also send proof of your sold property...and also write a covering letter....VISA Officer cannot deny...he will surely accept that...as it was clear that you only sold that property for Immigration...

All the best buddy...

Johny

 

[mkshah]

Hi, I am putting application for 2 persons, me and my wife.
As per the rule, I must show POF for min. CAD 14,000 which makes Rs. 6.3 Lac as per current exchange rate.

I am having approx. 5.3 Lac of FD on my name and for the rest of fund, I want to show my property valuation as POF.
In any ways, I am not going to sell this property, but When I will leave my organization, I will be receiveing more than 1.5 Lac as Full and Final Settlement including PF and other terminal perks. This will makes my funds requirement as per the CIC website requires.

My only concern is that if I mentions this in a separate covering letter in my application, and attach the property valuation which is more than 28 Lac as on date with o/s loan of Rs. 15 Lac, will visa officer consider my case?

 

[haral]

I dont think so since any property valuation submitted as POF needs to be cleared of any mortgages...

Hi, I am putting application for 2 persons, me and my wife.
As per the rule, I must show POF for min. CAD 14,000 which makes Rs. 6.3 Lac as per current exchange rate.

I am having approx. 5.3 Lac of FD on my name and for the rest of fund, I want to show my property valuation as POF.
In any ways, I am not going to sell this property, but When I will leave my organization, I will be receiveing more than 1.5 Lac as Full and Final Settlement including PF and other terminal perks. This will makes my funds requirement as per the CIC website requires.

My only concern is that if I mentions this in a separate covering letter in my application, and attach the property valuation which is more than 28 Lac as on date with o/s loan of Rs. 15 Lac, will visa officer consider my case?

 

[mkshah]

But, the property valuation is more than the outstanding loan and I can not sell off the property as I will be leaving my relatives/parents in India and they need it.

Also, i will be attaching my latest PF statement which is worth Rs. 72,000 and the calculation of PF for coming months and the value of full and final settlement amount which will be more than Rs. 1.5 lac. Adding this to the FD amount of Rs. 5.3 lac makes the total funds of Rs. 6.8 Lac.

 

[haral]

My comment is only relevant to your property valuation scenario and not to your other means of POF.

And as far as mortgage on property is concerned.. here is the line pertaining to proerty valuation in Londo VO`s email reply to me.

Quote (You can show bank statements or saving statements or value of your property after the repayment of your mortgage) Unquote

Hope it helps....

But, the property valuation is more than the outstanding loan and I can not sell off the property as I will be leaving my relatives/parents in India and they need it.

Also, i will be attaching my latest PF statement which is worth Rs. 72,000 and the calculation of PF for coming months and the value of full and final settlement amount which will be more than Rs. 1.5 lac. Adding this to the FD amount of Rs. 5.3 lac makes the total funds of Rs. 6.8 Lac.

 

[mis]

property valuation = not accepted dont take any chances, these days VOs are making rejections on very petty issues.

 

[haral]

than why do the London visa office people keep replying on emails that property valiation free of any mortgages is accepted?

property valuation = not accepted dont take any chances, these days VOs are making rejections on very petty issues.

 

[mkshah]

I think reason can be the fact that CIO cannot check the sanctity of the asset which is shown as proof of funds.
But my consultant has told me that property valuation is accepted as proof of fund and he strongly confirmed about its acceptance.

I am confused now, as I will not be able to gather this amount of Rs. 1.5-2.0 Lac immediately.

 

[Cappuccino]

than why do the London visa office people keep replying on emails that property valiation free of any mortgages is accepted?

Have a search around this forum:
http://britishexpats.com/forum/forumdisplay.php?f=33

This is for British people emmigrating to Canada, and at the time we applied I did some searching and found several people who confirmed that they sent property evaluations and mortgage statements as their sole proof of funds and these were accepted by London. I seem to remember one user said in processing London asked for proof of a small amount of additional bank funds to show he had enough money for the rest of the process (medicals, RPRF etc).

We are going to a Canada Expo in London on Sunday, if there is anyone there from London Visa Office I will see if I can get any confirmation from the horses mouth!

Wayne.

 

[haral]

do share that with us... as well as what do they need when looking at a property valuation certificate? i mean what makes it 100% doubt free.

Have a search around this forum:
http://britishexpats.com/forum/forumdisplay.php?f=33

This is for British people emmigrating to Canada, and at the time we applied I did some searching and found several people who confirmed that they sent property evaluations and mortgage statements as their sole proof of funds and these were accepted by London. I seem to remember one user said in processing London asked for proof of a small amount of additional bank funds to show he had enough money for the rest of the process (medicals, RPRF etc).

We are going to a Canada Expo in London on Sunday, if there is anyone there from London Visa Office I will see if I can get any confirmation from the horses mouth!

Wayne.

 

[vibez_well]

So the gist of all this is that :

Some Visa Offices accept Property valuations (Eg: London) and some don't (Eg: New Delhi) . Here is the info from the New delhi VO Checklist (Doc E37029 )

SETTLEMENT FUNDS
Refer to the "Proof of Funds" section of our Web site for exact figures and instructions.
Provide proof of unencumbered and readily transferable funds in a convertible currency available for settlement in Canada (for you and your family members):
•current bank certification letter; or
•evidence of savings balance; or
•fixed or time deposit statements.


CIC states that the documentation required is according to their checklist and anything extra required by your respective visa office.

not fair, but not surprising either... considering how easy it is to manipulate these documents and also get a souped up evaluation.

 

[mkshah]

So vibez,

according to the reply sent to you...
They require anything that is unencumbered and easily convertible in currency available..
that means anything attached to debt/loan is not acceptable by them..