We paid the society in instalments through the nineties. What is our cost?

The total of what you actually paid towards acquisition, including registration and charges, not just the first figure on the allotment letter. Gather the receipts, because each one adds to your base.

Which phase are we in? The papers are not clear.

The allotment documents and the society records will establish it, and we can help you read them. It matters, because it drives whether the 2001 substitution applies.

Does the metro station raise our 2001 value?

No. It affects value today. The 2001 figure has to reflect what the pocket was worth then, which is a different and usually much lower number.

The flat is in my late father's name. Can we still sell?

Not until the transmission is done. Mutation and the society transfer come first. For tax, your cost is his cost, and if he acquired before April 2001 the 2001 value applies.

Capital Gains Valuation in Mayur Vihar

Mayur Vihar was built in phases, and which phase you are in changes both whether the 1 April 2001 rule applies and how much it is worth to you.

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The phases were built at different times

The earlier phases were established well before 2001 and their owners are firmly within the rule. Later development came afterwards. That is not a detail, it is the whole question for a capital gains valuation.

Check the allotment and possession dates in your file first. We will read them for you before you commit to anything.

Cooperative society flats and the cost base

Most stock here is cooperative group housing, which means the cost base is often built from the society allotment price plus the payments made over the construction period, rather than a single purchase figure.

Those instalment payments, the registration cost and any additional charges levied by the society all count. Owners frequently declare only the headline allotment figure and understate their cost, which means paying tax on money they never gained.

Evidence for a 2001 figure in this pocket

Recorded transactions in the earlier phases from around the period, and the notified circle rate history for a category D colony. Society records from the time can also help establish the position.

Metro proximity is a strong factor here now. It was not the same factor in 2001, and the valuation has to reflect the pocket as it then stood.

The sale process

A society transfer takes time, and the tax planning around section 54 runs on dates. If you intend to reinvest, work backwards from the transfer timeline rather than assuming the sale completes when you sign.

Questions we get in Mayur Vihar

We paid the society in instalments through the nineties. What is our cost?: The total of what you actually paid towards acquisition, including registration and charges, not just the first figure on the allotment letter. Gather the receipts, because each one adds to your base.
Which phase are we in? The papers are not clear.: The allotment documents and the society records will establish it, and we can help you read them. It matters, because it drives whether the 2001 substitution applies.
Does the metro station raise our 2001 value?: No. It affects value today. The 2001 figure has to reflect what the pocket was worth then, which is a different and usually much lower number.
The flat is in my late father's name. Can we still sell?: Not until the transmission is done. Mutation and the society transfer come first. For tax, your cost is his cost, and if he acquired before April 2001 the 2001 value applies.

Checked by Parish Rao, Chartered Engineer and Government Approved Valuer (Registration number CAT-I/443/117/2000-01).

Page last checked on 7 October 2026.