we need fair rent, standard rent & municipal valuation for computing INCOME under HOUSE PROPERTY...
where can we get these figures (say for mumbai), only actual rent is known to us.
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fair rent, standard rent & municipal valuation
Replies (3)
Standard Rent is fixed as per the provisions of the Rent Control Act.
Fair rent will be the rent that is reasonably charged for similar house property in the same locality.
Municipal valuation can be found out from the Municipal authorities(who charge the property tax)
where will i get all these...
is any ready reckoner available, any website ?
Search Google for standard rent- you could look into the Rent control act for the particular state( Maharashtra Rent control act for mumbai)
For municipal valuation, you have to enquire the municipal authorities.
Not sure about the fair rent- you'll have to get inputs from your locality.
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