Mumbai: V. Suresh, principal executive officer at Mumbai-based Hirco Developments Pvt. Ltd, and Piyush Tiwari, professor and director of RICS School of Built Environment in Noida, have been nominated from India for the standards-setting committee set up by the International Property Measurement Standards Coalition to measure various aspects of property.

Nineteen international realty experts, including two from India, will develop a global standard for measuring property, the coalition said on Wednesday.

The coalition is a group of 20 property standards-setting organizations across the world set up to deliver global consistency and a reduced risk of fraud.

“We intend to create standards of measurement that will not only complement international financial reporting and valuation standards, but also enable the collection and use of reliable data across worldwide markets," Max Crofts, chairman of the standard-setting committee, said in a statement.

The committee aims to have a draft ready by early 2014.

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