The is the foundational benchmark used by property owners, financial institutions, and tax authorities to determine the Fair Market Value (FMV) of real estate as of April 1, 2001 . This historical record serves as the critical starting point for calculating long-term capital gains tax liabilities under India's Income Tax Act for any property acquired prior to that date. Because the government of Maharashtra transitioned its Annual Statement of Rates (ASR) system online only recently, tracking down these legacy values remains an essential hurdle for executing legacy real estate transactions smoothly. Why the 2001–02 Ready Reckoner is Crucial Today
The serves as the vital legal baseline for calculating modern long-term capital gains tax on ancestral real estate . Under the Indian Income Tax Act, 1961, properties acquired before April 1, 2001 , must use the fair market value (FMV) as of this baseline date to calculate cost indexation benefits. Because the FMV cannot legally exceed the official government circle rate on this specific date, accessing historic 2001-02 records is a critical priority for property owners, developers, and tax lawyers navigating real estate transactions.