Ready Reckoner Rate – What Does It Mean and How to Calculate It?

Purchasing property in India is never merely about the emotional pleasure of having a home – it is also about knowing the numbers involved in the purchase. The ready reckoner rate is one of the terms that people rate, or guideline value, or reckoner rate, and is the government-determined minimum price of land encounter when discussing the property. This most commonly refers to the circle or property. The ready reckoner rate not only dictates the stamp duty and registration fees but in some cases also your eligibility to take a home loan, regardless of whether you are purchasing in Mumbai, Pune, or any other smaller town.
The concept of the reckoner rate is paramount to property buyers, sellers, and investors. Why? Because it is illegal to pay less than this, knowing the correct rate can be used as a tool in intelligent investment planning. This blog will address the meaning of the ready reckoner, its significance, factors affecting the ready reckoner, and a stepwise process on how one can calculate the ready reckoner rate efficiently. So let’s get started!