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The is a critical historical document for property owners and tax professionals in Maharashtra. It serves as the official benchmark for determining the Fair Market Value (FMV) of real estate as of April 1, 2001, which is the base year used by the Income Tax Department for calculating long-term capital gains tax. Why the 2001-02 Ready Reckoner Matters
: The FMV used for tax purposes cannot exceed the Stamp Duty Value (Ready Reckoner rate) as of April 1, 2001.
Family partitions often refer to the property’s value as of April 1, 2001, to avoid conflict over older, unrecorded transaction values. Courts and arbitrators routinely accept the Ready Reckoner 2001-02 as an official government estimate.