Ready Reckoner 2001-02 Mumbai May 2026

For tax purposes, the government allows you to use the Cost Inflation Index (CII) starting from 2001-02 as the base year (CII = 100). This was a gift to investors. If you bought a flat in 2002 for an "agreement value" matching the low RR rate, and sold it in 2023, your capital gains were artificially low. This incentivized under-valuation in the early 2000s, which still haunts tax audits today.

In 2001-02, the prime areas of South Mumbai (Walkeshwar, Altamount Road, Malabar Hill) were clocked at roughly Rs. 15,000 to Rs. 25,000 per sq meter (approx Rs. 1,400 to 2,300 per sq ft). Suburbs like Bandra were around Rs. 8,000 per sq meter (Rs. 740/sq ft). Distant suburbs like Borivali were a mere Rs. 1,500 per sq meter (Rs. 140/sq ft). ready reckoner 2001-02 mumbai

Context: Today, those rates have multiplied 10x to 20x. But in 2001, the ratio between rich and poor areas was narrow. The 2001-02 RR showed a relatively flat Mumbai. For tax purposes, the government allows you to

One of the quirks of the 2001-02 edition was the inclusion of far-flung talukas like Karjat and Panvel at negligible rates (Rs. 200-300 per sq meter). This was agricultural land pricing. Fast forward to 2024, that same land is now urbanized. The 2001-02 document serves as the legal baseline for calculating Capital Gains on that land today. If you inherited land in Karjat in 2001 and sold it in 2023, you would use the 2001-02 RR to calculate your indexed cost of acquisition. This incentivized under-valuation in the early 2000s, which