WoT by Hjundaj

Ready Reckoner 200102 Mumbai | |verified|

Understanding the Ready Reckoner Rate in Mumbai: A Comprehensive Guide for 2001-02

Ready Reckoner 2001–02 — Mumbai: Informative Paper

1. Title and Purpose

Ready Reckoner 2001–02 — Mumbai: A concise reference compiling government-notified property valuation rates (circle rates) and related guidance for property valuation, stamp duty, and registration applicable to Mumbai for the fiscal year 2001–02. Intended for valuers, real estate professionals, legal practitioners, and researchers needing historical valuation benchmarks. ready reckoner 200102 mumbai

Capital Gains Tax – When selling a property in Zone 200102, the RR value as on April 1 of the year of transfer is used to compute indexed cost if the sale price is underreported. Understanding the Ready Reckoner Rate in Mumbai: A

  1. Property Prices: The RR rate influences property prices in Mumbai. A higher RR rate can lead to increased property prices, while a lower RR rate can make properties more affordable.
  2. Demand and Supply: The RR rate affects the demand and supply of properties in Mumbai. A high RR rate can reduce demand, while a low RR rate can increase demand.
  3. Investment: The RR rate also impacts investment in the property market. A stable and predictable RR rate can attract investors, while a volatile RR rate can deter them.

Key Highlights for RR 200102 (Illustrative – For actual rates, refer to current notification) Property Prices : The RR rate influences property

Key fact: Even if you buy a property below the RR rate, stamp duty is charged on the RR rate, not the actual transaction price.

| Sub-locality within 200102 | Residential RR (₹/sq ft) | Commercial RR (₹/sq ft) | Land (₹/sq m) | |----------------------------|--------------------------|--------------------------|----------------| | Nariman Point (Backbay) | 80,000 – 1,00,000 | 2,00,000 – 2,50,000 | 10,00,000+ | | Fort (D.N. Road area) | 65,000 – 85,000 | 1,60,000 – 2,00,000 | 8,00,000 | | Churchgate (West) | 75,000 – 95,000 | 1,80,000 – 2,20,000 | 9,00,000 | | Kala Ghoda / Rampart Row | 70,000 – 90,000 | 1,70,000 – 2,10,000 | 8,50,000 | | Hutatma Chowk area | 60,000 – 80,000 | 1,50,000 – 1,90,000 | 7,50,000 |

Example Calculation: Let’s assume you are buying a 1,000 sq. ft. (approx 93 sq m) flat in Lokhandwala Complex, Malad West, where the RR rate is ₹1,30,000 per sq m.