Published by the Inspector General of Registration (IGR) and Stamps Department, the Ready Reckoner acts as a safety net for the government to ensure it collects adequate revenue through Stamp Duty and Registration Fees. Even if a property is sold for a lower price, the transaction cannot be registered for a value lower than the Ready Reckoner rate.
| Use Case | Application in 2001–02 | |----------|------------------------| | | Payable on the higher of (a) Agreement value OR (b) RR rate × area. | | Capital Gains | If sold below RR, the RR value was deemed consideration for tax. | | Home Loans | Banks typically lent 70–80% of RR value or agreement value (whichever lower). | | Disputes | RR was final; only an official appeal to the Collector could challenge a rate (rarely succeeded). |
To understand why the is still discussed today, one must look at the economic climate of the time. ready reckoner 2001-02 mumbai
It served its primary goal: preventing blatant under-stamping in an era of opaque cash transactions. However, it was too blunt an instrument for Mumbai’s hyper-localized market. Modern buyers would find it laughably simplistic, but for historians, tax lawyers, and long-term investors, the 2001–02 RR remains an essential baseline document to understand Mumbai’s property price trajectory over two decades.
Compared to today’s astronomical figures, 2001 rates were a fraction of current market values, making it a "golden era" for long-term investors. Why 2001-02 Rates Matter Today Published by the Inspector General of Registration (IGR)
| Area (Ward/Zone) | Rate per sq. ft. (2001-02) | Current Context (2025 approx.) | | :--- | :--- | :--- | | - Nariman Point, Fort | ₹ 15,000 - 20,000 | ₹ 3,50,000 - 4,50,000 | | Cuffe Parade | ₹ 12,500 | ₹ 3,00,000 | | Tardeo / Nana Chowk | ₹ 8,000 - 10,000 | ₹ 2,25,000 | | Dadar (West) | ₹ 4,500 - 5,500 | ₹ 1,50,000 | | Bandra (West) | ₹ 5,000 - 6,500 | ₹ 2,00,000 | | Khar / Santacruz (West) | ₹ 4,000 - 5,000 | ₹ 1,60,000 | | Andheri (West) - Juhu | ₹ 3,500 - 4,500 | ₹ 1,70,000 | | Andheri (East) - Marol | ₹ 1,200 - 1,800 | ₹ 80,000 - 90,000 | | Borivali (West) | ₹ 1,100 - 1,500 | ₹ 50,000 - 55,000 | | Thane (West) | ₹ 600 - 800 | ₹ 25,000 - 30,000 | | Navi Mumbai (Vashi) | ₹ 800 - 1,000 | ₹ 45,000 - 50,000 |
Family courts often require valuation of property at the time of the original owner's death. If the owner died in November 2001, the probate court will demand the to determine the executor's duty. | | Capital Gains | If sold below
The Maharashtra government does not host 20-year-old rate lists on its modern, dynamic website (which typically only retains data for the last 5-7 years). However, you can obtain it via:
High-end rates hovered around ₹8,000–₹12,000 per sq. ft.
If you are researching for a tax case or a family property dispute, always pair the 2001–02 RR with the contemporaneous circle rates (if applicable) and a valuation report from a registered valuer . Do not rely solely on the RR for current market value—it is only a historical floor.
This is the most vital use of the 2001-02 document for individual taxpayers. Under the Income Tax Act of India, if a property is sold, the owner is liable to pay Capital Gains Tax on the profit.