: While specific rates vary by zone (Mumbai has over 700 zones), historical valuation reports show rates such as ₹18,000 per sq. meter
To contextualize the numbers, one must recall Mumbai in 2001. The city was recovering from the Kargil War aftermath and the 1993 bombings. The dot-com bubble had burst globally. In Mumbai: ready reckoner rate mumbai 2001
Under the Income Tax Act, taxpayers can substitute the actual cost of a property with its as of April 1, 2001 , for properties acquired before this date. : While specific rates vary by zone (Mumbai
This is where the affordability lay.