(e.g., residential vs. commercial) before the system evolved to include more granular factors like floor level. L&T Realty How to Find 2001 Ready Reckoner Rates Because 2001 data is not readily available on the current eASR (Electronic Annual Statement of Rates) portal
The year 2001 was a period of stabilization and cautious growth for Mumbai real estate. The market was recovering from the late-1990s property bubble burst. ready reckoner rate mumbai 2001
The 2001 Ready Reckoner was not just a simple list of numbers. The government employed a sophisticated methodology to account for the diverse nature of properties in Mumbai, which was (and still is) divided into 700 distinct valuation zones for this purpose. The calculation of the final value for a property considered several factors: The market was recovering from the late-1990s property
| Locality | 2001 RR (₹/sq. ft.) | 2024 RR (₹/sq. ft.) | Growth (x) | |----------|----------------|----------------|-------------| | Nariman Point | 18,000 | 36,500 | 2.0 | | Bandra West | 3,500 | 27,500 | 7.9 | | Andheri (W) | 1,500 | 16,200 | 10.8 | | Ghatkopar (E) | 950 | 12,800 | 13.5 | | Virar | 250 | 3,800 | 15.2 | The calculation of the final value for a
In 2001, developers started pricing new projects to seem “legal” and attract buyers avoiding black money. This inadvertently legitimized higher baseline prices — a classic unintended consequence.
Central Mumbai (Lower Parel, Worli, and Prabhadevi) was in the early stages of its massive transformation from defunct textile mills into luxury residential and commercial skyscrapers.