Because market rates fell 20-40% below the government’s rates by October 2008, no one could legally buy or sell a property (buyers wouldn't pay the inflated ready reckoner rate, and sellers couldn't sell below it). This created a registration deadlock .
The Ready Reckoner Rate, also known as the Stamp Duty Ready Reckoner Rate, is a rate card issued by the Government of Maharashtra, specifically the Stamp and Stamp Duty Department. It is a comprehensive guide that lists the minimum rates at which properties can be registered in Mumbai. The rate is calculated based on the property's location, type, and usage. ready reckoner rate mumbai 2008 pdf hot
: The 2008 rates saw sharp increases across several categories in the island city: : Increased by Residential Property : Increased by Office Space : Increased by Commercial Shops : Increased by Calculation Shift Because market rates fell 20-40% below the government’s