However, the Income Tax Department mandates a strict rule: of the property on that exact date.
Historical documentation from property valuations during that period reveals the significant divergence between localized areas: Division / Village Area Property Classification Approximate 2001 Base Rate Range (per Sq. Mt. of BUA) Residential Unit ₹16,000 – ₹18,000 CBD Belapur (MMR) Residential Unit ₹12,000 – ₹14,050 South Mumbai (Fort/Colaba) Residential Unit Higher baseline premiums apply based on zone Mumbai Suburbs (Andheri/Bandra) Commercial Space Scaled dynamically by specific sub-zones Ready Reckoner Rate Mumbai 2001 Pdf
The 2001 format was different from today's searchable digital maps. The PDF is usually arranged by: However, the Income Tax Department mandates a strict
If you have located the 2001 RR rate for a property, how do you use it for present-day taxation? You need the . For FY 2001-02, the CII was 100 . For the latest year (say FY 2024-25), the CII is 363 (example; check current CBDT notification). of BUA) Residential Unit ₹16,000 – ₹18,000 CBD
The calculation considers several factors, including the property's specific location (based on City Survey numbers), type (residential, commercial, industrial), and other amenities. The rate is typically expressed in rupees per square meter of built-up area.
: Miscalculating the base value can lead to severe income tax notices for underreporting. 📊 How 2001 Rates Vary Across Mumbai Locality Zones