Index Value of property

Thank you.🙏 But can you please elaborate how did you arrive at the multiple of 8342.88?

The Fair Market Value (FMV) of the property will need to be done as on  01.04.2001 from an authorised/registered valuer. The cost of acquisition will be the FMV calculated or Rs. 30000/- whichever is higher in your case.

The cost of acquisition calculated as above will then be indexed till 2022-23 considering the FY 2001-02  as 100. The cost inflation of index for FY 2022-23 is not yet notified by the CBDT. The cost inflation index for FY 2021-22 is 317.

e.g. If asset was sold in FY 2021-22, Indexed cost of acquisition = Cost of acquisition * 317/100.