Indexed Cost price of a 1957 house?

Ancestral property bought in 1957 for Rs.90000. What would be the indexed cost price of the same in 2010 since we are planning to sell it and were wondering what the capital gain tax amount would be.

Indexed Cost price of a 1957 house?
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2 Replies to “Indexed Cost price of a 1957 house?”

  1. There is no such index in India at this time. A committee has been working on just such an index for at least 13 of the most important cities in India over the last 2 years. Their recommendations are to be submitted to Reserve Bank of India for their approval. However, there are giant problems in this undertaking due to the lack of reliable data, and the present thought is to base such statistics on the Consumer Price Index (CPI) computed by the Central Statistical Organization. I’ll give you a link to a publication that talks about this problem. You might peruse other other articles of this newsletter about Indian real estate which I found most interesting:

  2. Consult a Chartered accountant. The price index if loaded, then your liability of Capital Gain Tax will be certainly very low.

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