The 2001-02 RR was the first to awkwardly acknowledge slums. It created a legal fiction: a structure with a roof was valued, but the land underneath a slum was often valued at nominal "cess" rates. This created the arbitrage that led to the subsequent boom in Slum Rehabilitation Authority (SRA) schemes. Developers realized they could buy slum tenancy rights valued at 2001 rates, rehab the tenants, and sell the free land at 2020 rates.
While the 2001-02 Ready Reckoner was meant to bring transparency, it created three profound, pathological behaviors that define Mumbai today: ready reckoner 2001-02 mumbai
Separate rates are provided for different property types, including: Residential Units (Flats/Rooms) Commercial Units (Offices/Shops) Industrial Units (including IT units) Land (Open plots) Valuation Methodology: The 2001-02 RR was the first to awkwardly acknowledge slums