Methodology of the Institute of Administration and Appraisals of National Assets to Determine and Issue Tables on Average Land Values and Annual Rent for the Hydrocarbons and Electric Sectors

DOF: 07/07/2026

METHODOLOGY of the Institute of Administration and Appraisals of National Assets to determine and issue the Tables on the average values of land and annual rent for the hydrocarbons and electric sectors

At the margin, a seal with the National Coat of Arms, which says: United Mexican States.- Treasury.- Ministry of Finance and Public Credit.- Institute of Administration and Appraisals of National Assets.

DR.

PABLO

ISRAEL

ESCALONA

ALMERAYA,

President

of the

Institute of Administration

and Appraisals of National

Assets,

a decentralized administrative body

of the

Ministry of Finance

and Public Credit,

with basis

in what is provided

by articles

27 of the

Political Constitution of the

United Mexican States;

1,

2,

fraction I,

17,

26,

fraction VI

and 31,

fractions

XXIX

and XXX of the

Organic Law of the

Federal Public Administration;

93 of the

Electric Sector Law;

135 of the

Hydrocarbons Sector Law;

4,

section G,

fraction V,

48 and 49 of the

Internal Regulations of the

Ministry of Finance

and Public Credit;

1,

3,

fractions IV

and V

and 6,

fraction V,

of the Internal Regulations

of the Institute of Administration

and Appraisals of National

Assets;

and

Norms

First,

fraction II

and Sixth of the

Agreement by which the

Norms are established

according to which the

appraisal services will be carried out

regulated by the

Institute of Administration

and Appraisals of National Assets and,

CONSIDERING

That according to the Internal Regulations of the Institute of Administration and Appraisals of National Assets (INDAABIN), this Institute is a decentralized administrative body of the Ministry of Finance and Public Credit, in charge of exercising the attributions that the General Law of National Assets confers to said Ministry, as well as those expressly attributed to it by other legal frameworks.

That on March 18, 2025, the Hydrocarbons Sector Law (LSH) and the Electric Sector Law (LSE) were published in the Official Journal of the Federation, which have as their object regulating the activities of Exploration and Extraction of Hydrocarbons, as well as the planning and control of the National Electric System, the Public Service of Transmission and Distribution of Electric Energy.

That both legal frameworks establish that INDAABIN must elaborate and keep updated the Tables on the Average Values of the Land, for the use, enjoyment, occupation, easement and acquisition of the lands, goods or rights, necessary for the development of the activities referred to in the LSH and the LSE, which will serve as the basis for the negotiations carried out by the holders of the lands, goods or rights with the persons who accredit the right for the development of the corresponding projects.

That the Agreement by which the Norms are established according to which the appraisal services regulated by the Institute of Administration and Appraisals of National Assets (Norms) will be carried out provides that it will be this decentralized administrative body who will issue the Methodologies it considers necessary and adequate for the elaboration of the Appraisal Service Report, considering, among others, the Methodology to issue and determine the Tables on the Average Values of the Land.

That with the objective of complying with what is provided in the Hydrocarbons Sector Law and the Electric Sector Law, as well as providing legal certainty to the determination and issuance of the Tables on Average Values of the Land, it is deemed appropriate to issue the following:

METHODOLOGY OF THE INSTITUTE OF ADMINISTRATION AND APPRAISALS OF NATIONAL ASSETS TO DETERMINE AND ISSUE THE TABLES ON THE AVERAGE VALUES OF THE LAND AND OF ANNUAL RENT FOR THE HYDROCARBONS AND ELECTRIC SECTORS.

1.- INTRODUCTION

In accordance with the vision, mission and objectives of INDAABIN, this Methodology is based on the principles of professional ethics, technical competence, independence, objectivity, professional skepticism and adherence to the applicable regulatory framework, as well as on an integrated quality control system adopted by this Institute in congruence with the best appraisal practices, in order to guarantee compliance with the International Valuation Standards (IVS).

Likewise, with the issuance of this Methodology, it is intended to homologate appraisal practice, guarantee the consistency, objectivity and transparency of the results and provide reliable technical elements that unify the application of concepts, criteria, techniques and appraisal procedures to strengthen the professional exercise of appraisal.

In this sense, the Methodology is structured into nine sections, among which the Technical Guide stands out, in which the general guidelines, criteria, procedures, approaches and appraisal methods for the estimation and determination of the Average Value Tables of the Land, as well as the Average Value of Annual Rent, of the assets subject to appraisal are established.

In the aforementioned Technical Guide, the appraisal procedure is developed in eight stages, which must be observed in a mandatory manner by the National Appraiser Expert (PVBN) as technical guidelines for the elaboration of appraisal reports that contain the Average Value Table of the Land and Average Value of Annual Rent.

This Methodology is a mandatory working tool for National Asset Appraisers and establishes the guidelines to be followed for the performance of appraisal services regulated by INDAABIN.

The application of this Methodology will allow the issuance of Tables on Average Values of the Land and Average Value of Annual Rent, with technical quality, legal certainty, timeliness and transparency.

2.- OBJECTIVE OF THE METHODOLOGY

Establish the criteria, approaches and technical procedures that must be observed to elaborate, update and, if applicable, issue and determine the Average Value Tables of the Land, for the use, enjoyment, occupation, easement and acquisition of lands or of the rights associated with them, taking into account their characteristics, as well as the different classifications within a delimited region, in terms of the applicable regulations.

In this sense, the determination of the aforementioned Tables has as its purpose to establish initial reference values for the negotiation processes related to the legal acts specified in the LSH and the LSE, so that such values must be obtained through the provision of the Appraisal Service regulated by INDAABIN, in accordance with the applicable legal frameworks.

Likewise, the Methodology also has as its objective to determine the Average Value of Annual Rent, which derives from the Average Values of the Land corresponding to each classification, a value that will constitute the economic basis for the quantification of the counter-prestations for indemnifications that may proceed due to the impact on real rights, due to the use, enjoyment, occupation or the constitution of easements.

The objective of the Methodology is for the PVBN to act in a professional, ethical and impartial manner, and that each of the appraisals carried out meet the highest standards of quality and transparency, unify the use of concepts, techniques and appraisal procedures consistent with the IVS, as well as consolidate the professional exercise of appraisal.

The PVBN must at all times comply with what is stipulated in the Norms, as well as the Code of Ethics and this Methodology; likewise, it must consider the definitions mentioned in the Glossary of Terms in Appraisal Matters of INDAABIN, as well as all applicable legislation to the asset in question.

3.- SCOPE OF APPLICATION

Its scope of application is mandatory for INDAABIN, through the Experts who are members of the National Registry of Appraiser Experts of INDAABIN, in the appraisal services regulated by the Institute of Administration and Appraisals of National Assets that are requested by State Public Companies or interested persons (licensees, assignees or contractors) in accordance with what is established in the LSH, the LSE and the other applicable provisions.

4.- PREVIOUS CONSIDERATIONS TO THE METHODOLOGY.

4.1. Definitions:

In addition to the definitions contained in the LSH, the LSE, the Norms and the Glossary of Terms in Appraisal Matters of INDAABIN, the following shall be understood:

I. Rangeland Land. Surface of land with predominantly non-agricultural vocation, destined for extensive livestock farming. It is composed of natural or induced vegetation - composed of grasses, pastures, grasses, herbs, shrubs and, in some cases, trees - whose main function is to provide forage for the feeding of livestock in direct grazing, for cutting or in mixed form. The quality and value of this land depend directly on the type of predominant vegetation and its forage value. The productive potential of the rangeland lies in its ability to maintain a livestock exploitation in an economic and permanent manner. However, this potential is vulnerable and can be affected by factors such as the selectivity of the livestock, overgrazing and the frequency of use; conditions that cause the decrease of high-value forage species, the increase of bare soil and the loss of infiltration and edaphological conservation capacity. Therefore, its sustainable use and economic valuation are determined through the adjustment of animal load, understood as the number of animal units that the surface can sustain according to the availability of resources and the ecological conditions of the property. The technical measurement of this capacity is expressed through the Rangeland Coefficient, which serves as the main indicator to classify and analyze the market value of these lands in the different study regions.

II. Irrigated agricultural land. Surface destined for agricultural production that depends on the artificial supply of water through irrigation systems or infrastructures (such as gravity channels, pumping, sprinkler, drip, among others). Its purpose is to satisfy the water needs of crops when natural rainfall is insufficient, guaranteeing their development independent of climatic variability. This water certainty allows to significantly increase the productivity of the land, achieving higher, constant and diversified harvests (ranging from intensive cyclic crops to perennial plantations of high value, such as commercial orchards and vineyards). Nevertheless, this type of agriculture requires investment in hydraulic infrastructure, operation and maintenance, as well as costs associated with rights, use and distribution of water. These elements directly influence the productive potential and the valuation of the property. On the one hand, the investment in infrastructure and the availability of water justify a higher market value compared to rain-fed lands; on the other hand, by substantially mitigating climatic dependence, the analysis for the estimation of its profitability. It should be noted that only those lands that present official documents of concession of the use of the resource or belonging to an irrigation district, issued by the competent authority or the administration of the irrigation district, will be accepted as legally irrigated lands, understanding that the processing of these documents does not imply the obtaining of the aforementioned concession.

III. Rain-fed agricultural land. Surface destined for agricultural production that depends exclusively on natural rainfall for the cycle and vegetative development of the crops, without having infrastructure, rights or artificial irrigation systems. This classification is applicable regardless of the time the crop remains in the soil. It includes both perennial or long-term species (such as fruit trees), as well as cyclic or seasonal crops that develop in specific periods within an agricultural year (such as regular summer crops or those that take advantage of residual winter humidity). Its productivity is directly subject to climatic variability, particularly to the quantity and distribution of rains. This condition affects in a proportional manner the expected yields and the productive risk.

IV. Assets Other Than Land. Any biological asset, building, installation or improvement of a temporary or permanent nature, which is physically or legally adhered to the soil, but whose economic value is estimable independently of the value of the land, because it represents an investment, an accumulated production cost or a quantifiable yield expectation for its legitimate holder, susceptible to being extinguished or separated.

V. Land with urban influence. Surface of land with agro-pastoral vocation located in the immediate vicinity, periphery or limits of a rural population nucleus. It is characterized by maintaining its primary productive activity and formally conserving its rural classification according to the applicable regulations. This urban influence is reflected and materialized through various factors of the environment, such as: expectations of change of land use, greater economic activity, real estate pressure or feasibility of access to public services. These elements alter the dynamics of the property, endowing it with potential uses in the medium or long term that transcend the purely rural vocation. Therefore, the appraisal analysis of these lands should not be limited exclusively to its primary profitability or agrológica capacity, but should recognize the appreciation and the commercial component inherent to its location. Consequently, its market analysis will require a strict validation of analogous socio-economic dynamics (according to the criteria of regional precedence).

VI. Average Land Value Table. Instrument resulting from the Appraisal Service based on a market study, which, due to its own characteristics, guarantees the obtaining of Average Values of the Land for different classifications in a determined region. Its purpose is to establish an initial reference value in the negotiation for the use, enjoyment, occupation, constitution of easement and acquisition of the lands or rights associated with it.

VII. Land in transition. Land that is in a formal process of change of land use to urban, derived from population growth or the expansion of the urban footprint. It is characterized by being subject to a legal and functional transformation, intervening the corresponding legal or administrative procedure before the competent authority for its eventual regularization, lotting or development. Physically, this property is distinguished by having the introduction or availability at the lot level of, at least, one basic public service (such as electrical energy, drinking water, drainage, sewerage or roadways). However, all those lands that, even having said services and infrastructure, do not have the express and definitive authorization of urban land use issued in accordance with the applicable Municipal Urban Development Plan, will be strictly classified as "in transition". The value of these lands is dictated primarily by the degree of installed infrastructure and the advance in its legal transformation.

VIII. Average Value of Annual Rent. Average Amounts of Annual Rent obtained from the Average Values of the Land for each classification, using a capitalization and/or profitability rate, considering the risks inherent to the region; which constitute the economic basis for quantifying the counter-prestations or indemnifications derived from the impact on real rights for the concept of use, enjoyment, occupation or constitution of easement. For the correct application and interpretation of this Methodology, the definitions contained in the Glossary of Terms in Appraisal Matters of INDAABIN, which forms an integral part of the technical regulation issued by said Institute, will be mandatory.

4.2. Assets subject to the Methodology. I. The assets subject to this Methodology are: Real Estate Assets.

4.3. Legal acts in which it applies. This Methodology may be used when the Appraisal Service corresponds to the legal acts determined in the LSH and the LSE and the use that is given to the Average Land Value Table and Average Value of Annual Rent resulting is for: acquisition, indemnification for occupation or constitution of passage easements and lease. The Appraisal Service will have legal effects only for the legal acts cited in the previous paragraph, as well as for two purposes which are Average Value of the Land and Average Value of Annual Rent.

5.- GENERALITIES OF THE METHODOLOGY. This Methodology establishes the technical criteria, procedures and guiding principles to determine and issue the Tables on Average Value of the Land. Its application is mandatory for the technical personnel, appraiser experts and collegiate bodies of the Institute, in the legal cases, it aligns with the IVS and seeks to guarantee uniformity, objectivity and transparency in the reports or conclusive reports. It is indispensable to determine the Table on Average Values of the Land and Average Value of Annual Rent that the Appraisal Service complies with the following sections:

1. Use. These are the acts for which the applicant intends to use the Table on Average Values of the Land and Average Value of Annual Rent, and in this case exclusively refers to: acquisition, indemnification for occupation or constitution of passage easements and lease.

2. Purpose. To determine the Average Values of the Land and Average Value of Annual Rent.

3. Finality. It is the concept that determines the application of the result of the Table on Average Value of the Land and Average Value of Annual Rent, as the minimum value in the legal acts specified in the LSH and the LSE for this Methodology.

6.- TECHNICAL GUIDE. This Technical Guide has as its object to establish the general guidelines to be followed to determine minimum negotiation values (floor value), through regional studies for different types of land (rangeland, rain-fed agricultural, irrigated agricultural, agricultural with urban influence and transition), goods or rights, that form part of the contractual areas selected by the Ministry of Energy, of the assignment and contract areas, and of the locations for the transport by means of duct of infrastructure of the public service of transmission and electric plants through the exploitation of a geothermal deposit or of the hydraulic resource, or any other, in accordance with the applicable provisions of the different assets, which are related in section IV of this Methodology, which must be attended by the PVBN, in accordance with the request for regulated appraisal services by INDAABIN that the promoter makes for this effect. This Technical Guide has eight steps that together form the appraisal process, in compliance with the Mexican legal framework, the IVS and the Code of Ethics of the PVBN of INDAABIN. All the steps developed within the Technical Guide, as well as the elements included in section 4, must be contained within the deliverable document, called Appraisal Report.

Step I Problem Identification

I. Information base. As part of the identification of the problem and the flow of the Appraisal Service, the PVBN must review and analyze the information base that contains the simple copy documents that the applicants delivered to support the request for the Appraisal Service, which must contain as indispensable requirements the following:

a) Request letter, addressed to the person in charge of the General Directorate of Appraisals and Works where it specifies the scope required for the Appraisal Service.

b) Type of promoter (assignee, contractor, licensee, State Public Company or

other);

c)

Simple

copy

of

contract

or

permit

related

to

the

project

(hydrocarbon

exploration,

extraction,

transport,

electric

transmission

lines,

hydroelectric,

geothermal,

wind,

installation

of

solar

panels

or

other);

d)

Exploration

and

extraction

field

(if

applicable);

e)

Project

name;

f)

Law

covering

the

project

(LSH

or

LSE);

g)

Study

region,

corresponding

to

the

municipality

where

the

TVPT

study

will

be

conducted;

h)

Name

of

the

company(ies)

to

be

identified

as

users

of

the

Appraisal

Opinion.

i)

Contact

data

of

the

personnel

assigned

to

follow

up

on

the

procedure.

j)

RFC

(tax

ID)

and

legal

name

for

the

issuance

of

the

payment

format

for

proceeds.

The

PVBN

must

analyze

the

application

on

its

merits

since

if

it

identifies

that

the

applicant

requested

Tabulators

for

accessories

(Assets

Other

than

Land),

it

must

require

that

an

independent

application

be

formulated

for

its

attention,

separate

from

the

one

corresponding

to

the

TVPT.

The

documentation

containing

the

informational

basis

must

be

validated

as

sufficient

by

the

PVBN

upon

receiving

the

assignment

in

the

INDAABIN

appraisal

system.

If

complementary

documentation

is

required,

this

information

will

be

formally

requested

through

the

authorized

technical

personnel

of

INDAABIN,

in

coordination

with

the

applicant

and

the

relevant

authorities,

guaranteeing

compliance

with

the

principle

of

technical

sufficiency

and

documentary

traceability

of

the

appraisal

process.

Once

the

information

has

been

validated

by

the

PVBN,

it

must

list

in

a

practical

manner

within

the

Appraisal

Opinion

the

informational

basis

provided

by

the

applicant

and

which

served

as

support

for

the

Appraisal

Service.

All

documentary,

technical,

financial,

or

legal

information

provided

by

the

applicant

to

INDAABIN,

within

the

framework

of

the

Appraisal

Service,

will

be

treated

with

strict

confidentiality,

and

its

use

will

be

limited

exclusively

to

the

technical

and

administrative

purposes

of

the

corresponding

Opinion.

The

information

cannot

be

disclosed,

transferred,

or

made

available

to

third

parties,

except

upon

a

founded

and

motivated

legal

requirement

by

a

competent

authority

or

in

compliance

with

applicable

regulatory

provisions.

The

PVBN,

as

well

as

the

technical

and

administrative

personnel

responsible

for

the

Appraisal

Service

on

behalf

of

INDAABIN,

are

subject

to

confidentiality

and

information

protection

obligations

as

provided

in

the

General

Law

of

Transparency

and

Access

to

Public

Information,

the

General

Law

on

Protection

of

Personal

Data

Held

by

Obligated

Subjects,

and

other

applicable

regulations

in

this

matter.

II.

Inspection

Visit.

It

is

a

fundamental

component

of

the

appraisal

process,

both

in

the

technical

and

regulatory

spheres;

its

importance

lies

in

the

fact

that

it

allows

the

PVBN

to

verify

firsthand

the

actual

characteristics

of

the

region

and

not

of

a

specific

project,

which

guarantees

that

the

value

estimate

is

based

on

reliable,

updated,

and

verifiable

information.

Therefore,

for

the

development

of

the

inspection

visit,

the

accompaniment

of

the

applicant

is

not

required.

Step II

Determination

of

the

appraisal

work,

assumptions,

and

external

factors.

The

PVBN

will

analyze

the

scope

of

the

work

to

be

done,

determining

thus

the

sufficient

extent

to

produce

an

Appraisal

Service

with

certain,

quality

results,

competence,

professional

skepticism,

and

ethics.

In

accordance

with

what

is

established

in

INDAABIN

regulations,

it

must

support

the

Appraisal

Opinion

with

an

adequate

technical

and

theoretical

foundation,

in

compliance

with

the

appraisal

specialty

with

which

the

asset

will

be

appraised,

as

well

as

the

quality

of

the

information;

the

expert

appraiser

will

carry

out

their

gabinete

(desk)

work,

considering

the

following:

With

the

presented

information,

the

PVBN

will

proceed

to

identify:

a)

The

applicant

and

the

users,

where

the

applicants

will

be

those

indicated

in

the

LSH

and

LSE

and

other

applicable

regulations,

and

the

users

will

be

those

declared

by

the

applicants

in

their

application.

b)

The

use

of

the

Tabulators

on

Average

Land

Values

and

Average

Annual

Rent

Value,

which

will

be

for

the

act

established

in

the

application.

c)

The

purpose

of

the

Appraisal

Service,

which

will

be

the

application

of

the

result

of

the

Tabulator

on

Average

Land

Value

and

Average

Annual

Rent

Value,

that

is,

in

its

case,

determining

the

base

value

for

the

start

of

negotiations

in

accordance

with

what

is

indicated

in

the

LSH

and

LSE.

d)

The

purpose

of

the

Appraisal

Service,

which

will

be

to

determine

the

Average

Land

Value

and

the

Average

Annual

Rent

Value.

e)

The

date

for

which

the

Average

Land

Values

and

Average

Annual

Rent

Value

contained

in

the

Tabulators

to

be

issued

are

required,

which

may

be

that

of

the

moment

of

the

visit,

the

values

of

the

research,

or

in

accordance

with

the

application.

f)

The

characteristics

of

the

asset,

which

must

be

those

identified

by

its:

type,

utilization

or

activity,

location.

g)

Information

of

the

Appraisal

Service

itself:

Background

data

(if

any)

and

only

in

a

referential

manner,

date

of

application

for

the

Appraisal

Service,

information

on

applicant

and

users,

data

on

the

Methodology,

definition

of

value

to

be

used,

for

the

specific

case,

the

Average

Land

Value

and

the

Average

Annual

Rent

Value;

scope

of

the

Appraisal

Service

requested

by

the

applicant,

date

of

visit

and

effective

date

of

value,

as

well

as

any

other

data

that

the

PVBN

considers

relevant.

h)

The

conditions

of

the

Appraisal

Service

must

include,

in

a

clear

and

independent

manner,

all

extraordinary

assumptions,

hypothetical

conditions,

and

limiting

conditions

that

influence

the

analysis

or

the

value

estimate.

Each

of

these

must

be

properly

identified,

described,

and

justified

in

its

own

statement,

as

they

constitute

an

essential

element

for

the

technical

opinion

of

the

Appraisal

Service.

This

information

must

be

expressly

integrated

into

the

Appraisal

Opinion,

in

order

to

grant

transparency,

context,

and

traceability

to

the

result.

i)

It

must

consider

the

macroeconomic

and

microeconomic

analysis.

It

is

the

responsibility

of

the

applicant

to

generate

the

definition

of

the

breadth

of

the

work

in

relation

to

the

extent

of

the

research,

the

normative,

technical,

and

theoretical

foundation,

the

quality

of

the

information,

and

other

aspects

that

may

be

considered

by

them.

Once

the

scope

of

the

work

is

defined,

the

PVBN

must

collect

complementary

information

as

part

of

its

labor

as

a

valuation

professional;

next,

this

activity

is

explained

in

detail

in

the

following

step.

Step III

Information

on

the

asset

and

comparables.

Derived

from

the

scope

of

the

Appraisal

Service,

the

PVBN

will

develop

the

inspection

visit

for

the

collection

of

field

information,

derived

from

the

analysis

at

the

regional

level;

the

accompaniment

of

the

applicant

is

not

required.

The

information

collection

that

INDAABIN

through

the

PVBN

will

obtain

is

divided

into

two

aspects:

general

information

and

specific

information.

The

general

information

will

focus

on

the

factors

that

may

influence

the

value;

these

are

derived

from

social

forces,

economic

trends

(supply

and

demand,

market

absorption,

etc.)

and

legislations

that

originate

outside

the

asset

to

be

appraised.

With

regard

to

specific

information,

it

refers

to

data

on

sales

or

comparable

offers

and

characteristics

of

the

relevant

local

market.

In

accordance

with

the

above,

the

PVBN

will

proceed

to:

a)

Analyze

the

information

on

the

asset

subject

to

appraisal

and

in

accordance

with

what

is

stated

in

section

4,

as

well

as

Step

I

and

II

of

this

Technical

Guide;

it

must

be

considered

(according

to

the

appraisal

discipline)

the

information

collected

from

Table

1;

this

must

be

contained

in

the

technical

work

file

and

referenced

in

the

Appraisal

Opinion.

b)

In

accordance

with

the

appraisal

discipline

in

question,

the

expert

must

collect

information

on

the

asset

to

be

appraised

and

comparables,

in

accordance

with

Table

1.

The

information

contained

in

the

following

table

is

enumerative

but

not

limitative,

which

has

an

orienting

character

for

the

PVBN.

Table

1.

Asset

Type

Subject/Comparable

Information

Real

Estate

(Agropecuary

with

Urban

Influence

and

Transition)

Subject

Information

Macro

and

micro

location,

urban

containment

radii,

geographic

and

geological

characteristics

of

the

land,

georeferences,

shape,

topography,

land

uses,

urbanistic

characteristics,

available

public

services,

surface

area,

general

description

of

the

asset,

type

of

real

estate.

Real

Estate

(Agropecuary

with

Urban

Influence

and

Transition)

Comparable

Information

Physical

and

legal

characteristics,

offer

and

sales

information;

costs

and

depreciation;

income

and

expenses,

supply,

demand

and

absorption

and

vacancy

of

the

market,

analysis

of

urban

containment

radii

in

order

to

support

land

use,

shape,

topography.

Real

Estate

Agropecuary

(Pasture,

Rain-fed

and

Irrigation)

Subject

Information

Macro

and

micro

location,

geographic

and

geological

characteristics

of

the

land;

georeferences,

description,

type

and

improvements;

physical,

legal

components,

and

owner

history;

data

on

income

and

expenses,

physical

properties

of

the

soil

(texture,

slope,

depth,

fertility);

type

of

agricultural

or

livestock

use;

accessibility

and

location;

climate

and

rainfall

regime;

legal

documentation.

Agropecuary

infrastructure:

fences,

canals,

warehouses,

corrals,

irrigation;

state

of

conservation,

age

and

useful

life;

agricultural

functionality;

surface

area,

types

of

construction.

Shape,

topography,

productive

vocation,

dominant

crop.

Water

availability,

type

of

access,

services.

Real

Estate

Agropecuary

(Pasture,

Rain-fed

and

Irrigation)

Comparable

Information

Geographic

and

geological

characteristics

of

the

land;

georeferences,

description,

type

and

improvements;

physical,

legal

components,

comparables

of

use,

productivity

and

physical

characteristics;

values

per

hectare;

regional

supply

and

demand;

profitability;

purchase

and

sale

records.

Equivalent

infrastructures:

data

on

use

and

technical

usability.

Shape,

topography,

soil

quality,

productive

vocation,

dominant

crop.

Water

availability,

type

of

access,

services.

The

data

provided

by

the

applicant,

as

well

as

those

collected

during

the

inspection

visit

and

those

obtained

through

specific

research

of

the

asset,

must

be

integrated

into

the

technical

work

file.

The

appraisal

services

of

INDAABIN

require

an

exhaustive

investigation

that

supports

and

technically

justifies

the

conclusion

of

the

value;

therefore,

the

PVBN

must

incorporate

the

corresponding

documentary

support,

which

must

be

linked

to

the

comparable

sheets

and

included

in

its

entirety

in

the

technical

work

file.

Any

additional

information

incorporated

into

the

Appraisal

Service

must

be

properly

supported

and

justified,

ensuring

that

all

references

and

sources

used

are

documented

in

a

complete

and

verifiable

manner.

Step IV

Analysis,

highest

and

best

use.

Once

the

Steps

I

to

III

have

been

analyzed,

supported,

justified,

and

documented,

the

PVBN

must

consider

that

appraisal

services

may

contemplate

diverse

value

premises.

The

fundamental

economic

principles,

such

as

supply

and

demand,

substitution,

equilibrium

(balance),

and

conformity,

constitute

essential

analytical

tools

for

interpreting

market

behavior

and

understanding

how

the

value

of

assets

is

formed;

therefore,

absorption

period,

cash

price

analysis,

and

interpretation

of

the

market

integral

must

be

reported

in

accordance

with

supply

and

demand,

as

well

as

the

external

and

internal

characteristics

of

the

assets.

Highest

and

Best

Use

(for

real

estate)

Real

Estate.

In

accordance

with

the

scope

of

this

Methodology,

the

analysis

of

highest

and

best

use

is

not

applicable,

as

it

concerns

unidentified

mass

appraisal.

Step V

Land

Value

Opinion

Once

the

general

and

market

information

has

been

analyzed

by

the

PVBN,

the

determination

of

the

Average

Land

Values

will

proceed.

These

values

will

be

obtained

from

a

regional

market

study

that,

given

its

statistical

nature

and

strict

segmentation

by

land

use,

guarantees

the

representativeness,

relevance,

and

reliability

of

the

results.

For

this

purpose,

the

minimum

level

of

regionalization

is

considered

to

be

the

municipality;

therefore,

land

values

will

be

opined

and

reported

at

the

municipal

scale,

considering

the

following

parameters

for

their

classification:

1.

Land

Use.

They

are

classified

into

five

groups:

a.

Pasture

Land.

b.

Rain-fed

Agricultural

Land.

c.

Irrigation

Agricultural

Land.

d.

Agropecuary

Land

with

urban

influence.

e.

Land

in

Transition.

2.

Potential

and

Regional

Representativeness.

The

productive

potential

of

each

region

is

determined

by

the

physiographic

and

climatic

conditions

that

dictate

the

vocation

of

land

use,

as

well

as

by

the

market

dynamics

that

influence

its

value.

In

order

for

the

value

analysis

to

be

supported

by

verifiable

public

information

and

representative

of

the

study

area,

the

selection

of

market

comparables

must

adhere

to

the

following

order

of

preference:

a.

Municipal

Priority:

Preference

must

given

to

market

samples

located

within

the

municipality

under

analysis.

b.

Regional

Criterion

(Physiographic

and

Socioeconomic):

In

the

second

place,

those

samples

that,

even

if

outside

the

municipality,

are

within

the

same

physiographic

subregion

and

present

an

analogous

socioeconomic

dynamic

will

be

considered.

This

economic

component

takes

greater

relevance

for

the

classifications

of

Urban

Influence

and

Transition,

where

it

must

be

validated

that

neighboring

municipalities

share

comparable

market

conditions,

dominant

economic

activity,

infrastructure,

and

demographics,

avoiding

comparison

with

zones

of

evident

economic

disparity.

The

above

has

the

purpose

of

ensuring

that

the

samples

respond

to

homogeneous

productive

conditions

and

that

the

sampling

accurately

reflects

both

the

agronomic

reality

and

the

economic

behavior

of

the

analyzed

region.

Of

the

five

land

classifications

contemplated

in

this

Methodology,

official

public

information

must

be

attended

to

validate

its

applicability

in

the

study

region.

Based

on

this

information,

if

appropriate,

one

or

more

classifications

(such

as

pasture,

rain-fed,

or

irrigation)

will

be

discarded

when

there

are

no

public

evidences

supporting

their

existence

or

viability

in

the

local

market.

Finally,

to

guarantee

consistency,

a

minimum

number

of

10

samples

per

classification

must

be

collected.

It

is

indispensable

that

the

dispersion

of

the

unit

values

does

not

present

deviations

greater

than

±30%

with

respect

to

the

average.

In

the

event

of

not

complying

with

these

criteria,

the

exception

or

non-application

must

be

technically

justified.

3.

Documentation

and

Support

of

Market

Research

(Technical

Sheets)

To

guarantee

transparency,

traceability,

and

truthfulness

of

the

concluded

values,

it

is

indispensable

that

the

support

of

the

market

research

be

reported

in

a

standardized

and

verifiable

manner.

The

information

on

the

market

samples

used

must

be

reported

obligatorily

through

individual

Market

Cards

for

each

classification

analyzed.

Each

card

must

contain,

as

a

minimum,

the

following

data:

a.

Location:

Population,

Municipality,

and

State.

b.

Property

Characteristics:

Assigned

land

classification

and

total

surface

area.

c.

Economic

Data:

Offered

unit

value

and

total

amount

of

the

offer.

d.

Geolocalization:

Georeference

(UTM

Coordinates

or

Lat./Long)

and

descriptive

location.

e.

Source

/

Contact:

Data

of

the

offeror

(Name,

phone,

electronic

mail).

For

offers

obtained

on

web

portals,

it

will

be

mandatory

to

include

the

URL

address,

date

of

consultation,

and

screenshot

of

the

advertisement.

Additionally,

a

Location

Plan

(Map)

must

be

included

where

the

spatial

distribution

of

each

comparable

with

respect

to

the

study

zone

is

visually

displayed.

MODEL

OF

THE

METHODOLOGY

Once

the

land

market

samples

have

been

obtained

by

the

PVBN,

the

analysis

of

this

information

and

the

application

of

the

Market

Approach

in

valuation

will

proceed;

this

activity

is

detailed

below:

Step VI

Valuation

Approaches

Market

Approach

Income

Approach

Cost

Approach

Having

analyzed

the

previous

Steps

(I

to

V),

and

with

the

support

of

the

collected

information,

the

PVBN

will

analyze

the

possible

application

of

the

three

approaches

commonly

accepted

in

valuation

practice.

Although

the

function

of

the

appraiser

is

not

to

influence

the

market

but

to

reflect

it

objectively,

it

is

fundamental

that

they

maintain

an

informed

vision

on

the

sustainability

characteristics

present

in

the

assets

to

be

appraised.

These

conditions

may

have

a

relevant

impact

on

the

value

of

the

assets,

either

in

the

short,

medium,

or

long

term;

therefore,

they

must

be

considered

as

part

of

the

integral

appraisal

analysis.

The

basic

guidelines

to

consider

for

calculating

the

value

indicator

are

as

follows:

1.

Market

Approach.

The

comparative

market

approach

is

a

value

indicator

obtained

through

the

analysis

of

transactions

or

offers

of

properties

similar

to

the

object

of

study,

establishing

comparisons

with

those

available

in

the

market.

This

approach

is

based

on

the

economic

principles

of

Substitution,

Supply

and

Demand,

Homogeneity

or

Conformity,

Change,

Progression

and

Regression,

Growth,

Equilibrium

and

Decline,

Competition,

and

Highest

and

Best

Use.

Its

objective

is

to

compare

the

asset

under

study

against

other

similar

assets

existing

in

the

open

market;

for

the

particular

case,

to

determine

the

average

value

of

purchase

and

sale

operations

in

the

region

for

the

applicable

classifications.

1.1.

For

Real

Estate

Assets

(urban

and

agropecuary).

Market

Research.

Since

the

study

is

carried

out

at

the

regional

level

and

there

is

no

specific

subject,

the

market

analysis

is

carried

out

without

subjecting

the

comparable

data

to

homologation,

only

segmenting

them

according

to

the

different

land

uses

considered

within

the

applicable

regulations

and

considering

the

criteria

and

reporting

of

information

from

Step

V.

Obtaining

the

Market

Approach

Indicator.

The

Average

Land

Value

for

each

applicable

land

use

will

be

obtained

through

the

arithmetic

average

calculated

from

the

set

of

valid

samples,

provided

these

comply

with

the

established

criteria

of

representativeness,

consistency,

and

dispersion.

The

resulting

value

per

square

meter

for

each

classification

will

correspond

to

the

market

indicator,

which

must

not

be

rounded

until

Step

VIII.

2.

Cost

Approach

The

Cost

Approach

is

a

valuation

method

that

estimates

the

value

of

an

asset

based

on

the

cost

necessary

to

reproduce

or

replace

it

with

another

of

equivalent

utility,

deducting

the

value

losses

caused

by

use,

physical

deterioration,

and

functional

or

economic

obsolescence.

It

is

based

on

the

principle

of

substitution,

according

to

which

a

prudent

buyer

would

not

pay

for

an

asset

an

amount

higher

than

the

cost

of

acquiring

another

with

the

same

characteristics

and

utility.

It

is

based

on

the

economic

theory

of

the

Principle

of

Substitution,

of

Homogeneity

or

Conformity,

of

Change,

of

Progression

and

Regression,

of

Growth,

Equilibrium

and

Decline,

of

Competition,

and

of

Highest

and

Best

Use.

Derived

from

the

scope

of

the

Appraisal

Service

and

by

considering

exclusively

the

Average

Land

Value,

this

approach

is

not

applicable.

3.

Income

Approach.

Through

this

approach,

the

value

indicator

is

obtained

based

on

the

Principles

of

Anticipation,

Competition,

Highest

and

Best

Use,

Supply

and

Demand,

Equilibrium,

Contribution,

and

Excess

Productivity;

it

states

that

the

present

value

of

the

benefits

or

future

income

derived

from

an

asset,

understanding

that

any

person

is

willing

to

pay

for

an

asset

an

amount

equivalent

to

the

future

benefits

they

will

receive

from

said

asset.

It

can

be

through

the

discounted

cash

flow

process

or

through

direct

capitalization.

3.1.

For

Real

Estate

Assets

(Average

Annual

Rent

Value)

The

PVBN

will

consider

for

its

analysis

in

the

Income

Approach,

the

information

collected

in

the

previous

Steps.

The

Average

Annual

Rent

amounts

will

be

obtained

from

the

Average

Land

Values

by

applying

a

Gross

Potential

Capitalization

Rate

(TCBP)

that

considers

the

market

conditions

and

the

risks

inherent

to

the

use

of

the

land

and

to

the

region

where

it

is

located.

The TCBP will be composed of a risk-free rate, obtained from official sources, and a risk premium associated with the characteristics of the land.

In this Methodology, said premium is expressed through climate risk, considering relevant hydrometeorological phenomena of the region, supported by information from the Agricultural and Fisheries Information Service (SIAP), SMN-CONAGUA, INEGI, INIFAP, or CENAPRED.

The TCBP is obtained through:

TCBP = Risk-Free Rate (RFR) + Climate Risk Premium (CRP)

The PVBN may complement the integration of the TCBP using elements such as liquidity, type of property, or loss experience, provided they are technically and documentarily justified within the corresponding risk analysis.

To express the yield in real terms or to convert the rate into a multiple applicable to the Average Land Value, a Profitability Factor (PF) may be used, calculated as follows:

PF = [(1 + TCBP) / (1 + EI)] - 1;

where "TCBP" is the gross potential capitalization rate (expressed in decimal format) integrated by the PVBN, and "EI" corresponds to the annual inflation expectation published by the Bank of Mexico (expressed in decimal format).

The Average Annual Rent Value will be obtained by multiplying the PF by the corresponding Average Land Value for the determined land use.

Step VII

Reconciliation of Values and Final Valuation Opinion

The Table of Average Land Values (TVPT) is governed by the principles of mass appraisal not identified, since it models market behavior for theoretical land classifications within a region, without there being a specific or individualized property subject.

For this reason, the concluded amounts represent a reference value or "negotiation floor".

The conclusive Average Land Values will be obtained taking into account the classifications in their estimation.

Reconciliation is the analysis of reliability and certainty of the valuation approaches applied, evaluating the relevance, quantity, and quality of the information collected.

For the purposes of this Methodology:

a) The conclusion of the Average Land Value is supported by the application of the Market Approach, in view of the fact that the regional statistical analysis provides the necessary representativeness to dictate this indicator.

b) For the determination of the Average Annual Rent Value (applicable to temporary occupations), the Income Approach was considered appropriate, deriving said amount from the market value and applying a profitability rate based on the economic conditions and risk premiums of the region.

In the event of sufficient technical data in the analyzed data, the concluded values and amounts are considered firm and reliable.

The conclusive Average Land Values and Average Annual Rent Value will be determined and presented in a strictly segmented manner, attending to each of the land use classifications validated for the study zone.

Once the reconciliation is substantiated, the formal issuance of the Table of Average Land Values and Average Annual Rent Value will proceed.

This technical-legal instrument will integrate the definitive matrix of values and rents, explicitly specifying its territorial scope of validity (municipality) and the applicable exercise.

Step VIII

Valuation Opinion

In this step, the PVBN must gather all the elements included in this Methodology. In an ordered, summarized, and clear manner, it must prepare a Valuation Opinion that generally contains:

a) Document identification numbers.

b) Place and date of issuance.

c) Accreditation of the PVBN with its professional card according to the specialty in question.

d) Promoter, users of the Valuation Service.

e) Location.

f) Generalities of the Methodology (use, purpose, and objective).

g) Effective date of the value of the assets reflected in the Valuation Opinion.

h) Asset data.

i) Macro-location and micro-location.

j) Photographic report.

k) Highest and Best Use (where applicable).

l) Determination of the valuation work, assumptions, and external factors.

m) Summary of analyzed information, methods, and valuation techniques used.

n) Legal basis.

o) Value report.

p) Conclusion.

q) The Valuation Opinion must be signed by the PVBN.

r) Include a signed declaration as indicated in the international valuation standards, according to the format that corresponds based on the Thirty-Fifth Standard of the Agreement establishing the Standards under which the valuation services regulated by the Institute of Administration and Appraisals of National Assets will be carried out.

Additionally, the Valuation Opinion of the Valuation Service must contemplate what is established in Chapter X "Valuation Standards and Appraisal Review" of the Standards.

The validity of the Valuation Opinion may be up to one year, considering the calendar year, that is, with validity from the moment of its issuance until December 31 of the same year of issuance; therefore, to obtain the valid values from January 1 to December 31, the promoter must request said Tables before October 31 of the previous exercise; in the event of presenting the application during the current exercise, if the application is filed before April 30, it will be issued with validity from July 1 to December 31 of the corresponding exercise, in the event of requiring the Tables at any other time of the year other than those cited, the Tables will have validity from the moment of their issuance until December 31 of the calendar year.

It is mandatory for the PVBN to add the following legends in the Valuation Opinion:

"Once the validity of the present Table has ended, it will not have official or legal validity to carry out any legal act."

"In compliance with what is established by the General Law for the Protection of Personal Data in Possession of Obligated Subjects (DOF March 20, 2025), the Institute of Administration and Appraisals of National Assets (INDAABIN) guarantees the confidentiality, integrity, and availability of the personal data collected within the framework of the present Valuation Service.

The data will be used exclusively for the purposes foreseen in the corresponding technical and administrative procedure, and will not be disclosed or transferred without the express consent of their holder, except in the cases provided for by law.

INDAABIN makes available to the holder persons the comprehensive privacy notice, as well as the mechanisms to exercise the rights of access, rectification, cancellation, and opposition (ARCO) before the corresponding Transparency Unit."

The persons responsible for issuing the Valuation Opinion containing the Table on Average Land Value and Average Annual Rent Value will be the PVBN, the members of the respective Collegiate Appraisal Body, or the Technical Personnel of the Institute itself who has carried out the respective Valuation Service; and in the case where the expert is a legal entity member of the National Register of Valuation Experts of INDAABIN, the Technical Expert or Experts responsible for the corresponding specialty who prepares the table.

7.- INTERPRETATION

The interpretation of this Methodology corresponds, in accordance with its powers, to the General Directorate of Appraisals and Works of the Institute of Administration and Appraisals of National Assets.

TRANSITORY PROVISIONS

FIRST.- This Methodology will enter into force the day following its publication in the Official Gazette of the Federation.

SECOND.- The METHODOLOGY OF THE REGULATED VALUATION SERVICES BY THE INSTITUTE OF ADMINISTRATION AND APPRAISALS OF NATIONAL ASSETS TO DETERMINE AND ISSUE TABLES ON AVERAGE LAND VALUES FOR USE, OCCUPATION OR ACQUISITION IN HYDROCARBON EXPLORATION AND EXTRACTION PROJECTS, AS WELL AS FOR THE PROVISION OF THE PUBLIC SERVICE OF TRANSMISSION AND DISTRIBUTION OF ELECTRIC ENERGY AND FOR THE CONSTRUCTION OF ELECTRIC ENERGY GENERATION PLANTS IN THOSE CASES WHERE, DUE TO THE CHARACTERISTICS OF THE PROJECT, A SPECIFIC LOCATION IS REQUIRED, published in the Official Gazette of the Federation on October 5, 2017, is hereby repealed, and all technical provisions that oppose this Methodology are hereby abrogated.

Mexico City, June 23, 2026. - President of the Institute of Administration and Appraisals of National Assets,

Dr. Pablo

Israel

Escalona

Almeraya. - Rubric.

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Río Amazonas No. 62, Col. Cuauhtémoc, C.P. 06500, Mexico City Tel. (55) 5093-3200, where you can access our menu of services

Electronic address: dof.gob.mx

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