House Property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 February 2010 Hi Expert,

For the calculation of Gross Annual Value(Income from Renting from House Property), Figures like Municipal Value, Fair Value & Standard Rent for the purpose of comparison with Actual Rent from where data related to above figures can be obtained?

CA SIDHARTH HIRALAL PATNI

CA SIDHARTH HIRALAL PATNI (Expert)
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28 February 2010 Hi
As relating to Municipal Valuation it is based on ur municipal tax. So u can get the valuation from municipal authorities.

Fair rent is the rent which similar property have in ur area. So it is based on judgement.

Municipal corporation in some cities prescribes the standard rates of Rent.