Ready reckoner rates decide the actual quantum of statutory levies to be paid on home buying. Lower reckoner rates mean less liability for home buyer.
Here are three reasons why the hike in the official rates of Mumbai property is a step in the right direction.
Ready reckoner rates are calculated using the built-up area of a property and are used to determine its market value. Before 2008, it used to be calculated using the carpet area.
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