Under Section 55(2)(b) of the Income Tax Act, 1961, April 1, 2001, is the base date used to determine the "cost of acquisition" for properties bought before this date.
It determines the minimum value at which a property can be registered.
Also known as the , the Jantri is the government's official estimate of land and building values. It serves several primary functions: Jantri Rates In Gujarat 2001
For specific industrial sectors, the Gujarat Industrial Development Corporation (GIDC) fixed allotment prices for plots effective from April 1, 2001 , which served as the benchmark for industrial and housing estates at that time. What is a Jantri Rate?
Used for bank loans, surety purposes, and as a prerequisite for enrolling as a government contractor. Under Section 55(2)(b) of the Income Tax Act,
The Gujarat government notified April 1, 1999, as its base date for stamp duty valuation, creating a gap for those needing an official 2001 valuation for capital gains tax calculations.
It helps curb "black money" transactions by setting a floor price for real estate. Historical Timeline of Revisions It serves several primary functions: For specific industrial
The year 2001 is a critical landmark in Gujarat's real estate history, primarily due to the discrepancy between state property valuation (Jantri) and the central government's Income Tax benchmarks.
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