Ready Reckoner Rate Mumbai 2001 Updated < Must Read >

The Ready Reckoner Rate—also known as the Annual Statement of Rates (ASR) or circle rate—is the set by the Maharashtra government for property transactions in a given locality. If a property sells below this state-mandated value, stamp duty and taxes are still levied on the higher RRR amount to prevent tax evasion.

Final valuations often included a depreciation discount (e.g., 20% for buildings 11–20 years old) or specific construction cost rates, which in 2001 were around ₹5,500 per sq. mt. . Importance for Tax and Legal Purposes ready reckoner rate mumbai 2001