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Home / Legal / Due Diligence / How I can find property value in 2001
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How I can find property value in 2001

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2 2021-12-28T18:05:21+00:00
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Hi buddy,

If the property was acquired before 01-04-2019, then you can find out the property’s fair market value from the stamp duty ready reckoner value of the year 2001. If you had obtained the property as an inheritance or as a gift or had built it during any year after 01-04-2001, then, the ready reckoner value can be taken to find out the property’s fair market value.

In case the ready reckoner rate isn’t available for a particular year, you can get a valuation report from a valuer who is recognized to determine the fair market value for income tax purposes and is registered under the wealth tax rules.

Out of these two methods, I advise you to go for the valuation report method, if you want to make the matter convincing and stronger.

I hope you find this answer helpful!

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Sanjana

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