Rates for Ready Reckoner in Mumbai, Maharashtra
The Maharashtra government has raised Ready Reckoner (RR) tariffs across the state by an average of 8.80 percent. For Mumbai city, however, no increase in circle fees has been announced. The latest circle rates/ready reckoner rates in Mumbai.
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Except in Mumbai, the Maharashtra government has increased ready reckoner (RR) tariffs. Thane has increased its circle rates by 9.48 percent, Navi Mumbai by 8.90 percent, Ulhas Nagar by 9.81 percent, Vasai-Virar by 9%, Panvel by 9.24 percent, Pune by 6.12 percent, Pimpri Chinch wad by 12.36 percent, Sholapur by 8.08 percent, Nasik by 12.15 percent, Ahmadnagar by 7.72 percent, Latur by 11.93 percent, and Aurangabad by 12.38 percent.
Despite the tremendous problems provided by the Corona virus pandemic, such as lower sales, acute cash shortages, and a sudden halt in construction activities, ready reckoner rates were revised by an average of 1.74 percent, much to the chagrin of real estate developers & builders. While prices in the rest of Maharashtra have increased, rates in Mumbai, excluding the Mumbai Metropolitan Region (MMR), have decreased by 0.6 percent. The new tariffs become effective on September 12, 2020.
The changes can be summarized as below-
|
Areas |
RR rate (%hike) |
|
Thane |
9.48% |
|
Navi Mumbai |
8.90% |
|
Ulhas Nagar |
9.81% |
|
Vasai-Virar |
9% |
|
Panvel |
9.24% |
|
Pune |
6.12% |
|
Pimpri Chinch wad |
12.36% |
|
Sholapur |
8.08% |
|
Nasik |
12.15% |
|
Ahmadnagar |
7.72% |
|
Latur |
11.93% |
|
Aurangabad |
12.38% |
Despite the fact that the State administration had chosen to maintain the ready reckoner rates unchanged in May 2020 in order to examine the new rates in the wake of the Coronavirus pandemic, the revision has occurred.
The Stamps & Registration Department in Mumbai sets the ready reckoner rates based on the area’s market value. The administration has divided Mumbai’s properties into 19 zones or divisions. In comparison to residential properties, commercial properties have greater circle rates.
Unlike Noida and Greater Noida, where a rebate is offered for a flat above the fourth story in a housing society, the Maharashtra government imposes a premium on the ready reckoner rate for flats erected on higher floors.
Floor-wise premium for flats in Mumbai
|
Floor of the building |
Premium charged |
|
Up to 4th floor |
Nil |
|
5th to 10th floor |
5% |
|
11th to 20th floor |
10% |
|
21st to 30th floor |
15% |
|
31st floor an above |
20% |
Zone-wise ready reckoner rates in Mumbai
Worli’s RR rates
|
Sub-division |
Circle rates (per sq m) |
|
Dr Annie Besant Road |
Rs 4,10,630 |
|
Mau Abdul Ghafar Khan Road from Worli Sea Face |
Rs 5,93,700
|
|
Sasmira Road to the West, boundary to the East and South and boundary of Worli Gauthan to the North |
Rs 2,99,890
|
|
The boundary between Gauthan boundary to the North, Lala Lajpat Rai Road to the East of the boundary to the West, Anni Besant Road and Sasmira Road, to the South the boundary |
Rs 3,82,500
|
|
Worli Village |
Rs 1,68,710 |
RR rates in Colaba
|
Sub-division |
Circle rates (per sq m) |
|
Bhabha Road (North of Navy Colaba) |
Rs 2,96,830 |
|
Prakash Pethe Marg and Jagannath Bhosle Road (departing from Cuffe Parade to the division limits) |
Rs 5,98,220
|
|
Shaheed Bhagat Singh Marg, from R Salgaonkar Road to Colaba |
Rs 4,22,540
|
|
Shaheed Bhagat Singh Marg, from Rigal Cinema to R Salgaonkar Road |
Rs 4,91,990
|
|
Navinagar, Part south of Colaba south of Bhabha Road, Navinagar Tata Institute of Fundamental Reachers Colaba Point |
Rs 2,69,180
|
RR rates in Dharavi
|
Sub-division |
Circle rates (per sq m) |
|
Triangular terrain between the Central Railway Line to the East, the Western Railway Line to the West, the Harbor Railway Line to the North |
Rs 80,980
|
|
Dharavi Road |
Rs 87,660 |
|
Central Railway Line to the East, Western Railway Line to the West, Mumbai City boundary to the North, Harbor River Line to the South |
Rs 96,220
|
Lower Parel RR rates
|
Sub-division |
Circle rates (per sq m) |
|
Dr Annie Besant Road |
Rs 4,05,320 |
|
Pandurang Budhkar Road to the South, East Sayani Road, Mhatre Road, and Tandel Road |
Rs 4,59,010 |
|
Mahim Area |
Rs 3,10,900 |
|
Oriental Silk Mill, East of Prabhadevi Chowk |
Rs 4,86,580 |
|
East Saini Road and North of Apapaaheb Marathe Road, Jagannath Bhatankar Road to the South and Strander Mill boundary to the West |
Rs 3,02,260
|
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