Ready Reckoner (RR) rates for Mumbai for the financial year 2001–02
or the Stamp Valuation Department in Mumbai to access the physical "Annual Statement of Rates" (ASR) books. Government Valuers : Consult a government-approved valuer
How to Use the 2001-02 Ready Reckoner (Once You Find It)
The Search for the PDF: Accessibility vs. Rarity
Base Year Shift
: For any property acquired before April 1, 2001, the Income Tax Department allows taxpayers to use the FMV as of that date as their "cost of acquisition".
Cost of Acquisition
: For properties bought before April 1, 2001, taxpayers can adopt the Fair Market Value (FMV) as of that date as their cost of acquisition.
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When transferring property via a will or gift deed dating back to 2002, the sub-registrar may ask for the "prevailing circle rate" at the time of the original transfer. Having the PDF proves you didn't undervalue the asset.
2001-02 edition
The is particularly significant because it predates the major real estate boom of the mid-2000s.
