Hi,
 
Thanks for the information.
 
I would like to know, if we use cost model than also are we require to do the revaluation.
 
best regards
Suraj


Hi Suraj, 

Investment property is defined as property held (by the owner or lessee under a finance lease) to rentals and/or for capital appreciation, rather than for
   –use in the production or supply of goods and services for administrative purposes; or
   -sale in the ordinary course of business
IAS 40 covers investment property held by all enterprises and is not limited to enterprises whose main activies are in this area. Under IAS 40, an enterprise must choose either a fair value model  i.e. investment property should be measured at fair value and changes in fair value should be recognised in the income statement; or a cost model (the same as the benchmark treatments in IAS 16, Property, Plant and Equipment), i.e. investment property should be measured at depreciated cost (less any accumulated impairment losses).
In order to value investment properties, an independent valuer who holds a recognised and relevant professional qualification, and has recent experience in the location and category of the properties being valued.
The valuer should determine the fair value  of the properties based on current prices in an active market for similar properties in the same location and condition and subject to similar leases and other contracts.
Regards


Dear all
Hi I am Suraj ratan Mohta from India. Working in a real estate compnay. i need some advice on the IFRS related from the comitte member. We follow Indian GAAP
My query is
1) Is it necesary to revalue the investment property as per IFRS.
2) if ane one can provide me the template
Regards
Suraj