Before diving into rates, let’s decode the numbers.
In the 2001-2002 period, Mumbai's real estate market was drastically different from today's high-rise landscape.
The Mumbai Ready Reckoner (RR) for serves as a vital historical benchmark for calculating the Fair Market Value (FMV) of properties as of April 1, 2001 , which is the base year used for Capital Gains Tax assessments in India. Historical Significance ready reckoner 200102 mumbai top
| Locality | Residential Flat Rate (₹ / sq.m.) | | :--- | :--- | | | ₹3,39,500 – ₹8,61,000 | | Nariman Point | ₹4,13,700 – ₹5,76,300 | | Colaba | ₹2,80,400 – ₹6,52,100 | | Worli | ₹1,72,500 – ₹5,87,800 | | Lower Parel | ₹1,78,300 – ₹5,23,600 | | Marine Drive | ₹1,64,800 – ₹4,45,600 | | Bandra West | ₹1,31,700 – ₹4,49,600 | | Mahim | ₹2,14,500 – ₹3,81,500 | | Matunga | ₹1,42,500 – ₹2,52,000 | | Byculla | ₹82,000 – ₹4,69,900 | | Dharavi | ₹73,600 – ₹88,000 |
The in Zone 200102 refers to the highest per-square-meter value for Ground Floor Residential or High-Street Commercial property facing a primary arterial road (e.g., Lokhandwala-Minerva Road or S.V. Road extension ). Before diving into rates, let’s decode the numbers
A higher RR rate increases the cost of acquiring property, as stamp duty (a percentage of the higher value between the agreement amount and RR value) rises accordingly. Calculation Method (Ready Reckoner Rate)
Visiting the local Sub-Registrar office to view physical ledgers from that period. Historical Significance | Locality | Residential Flat Rate
: It serves as the "Circle Rate," acting as the legal baseline for property registration. If a property is sold below this rate, the government still charges stamp duty based on the Ready Reckoner value to prevent tax evasion through price underreporting.
The Ready Reckoner for 2001 was a physical, printed document compiled by the Maharashtra Department of Registration and Stamps.