What Is The Current Ready Reckoner Rate On GB Road In Thane West?
Ghodbunder (GB) Road in Thane West is a neighbourhood worth investigating. It is home to corporate parks, industrial estates, opulent homes, and lively micro-markets. However, would you be able to make an investment in such a desirable area without first checking the most recent ready reckoner rate for GB Road, Thane West? Allow this post to analyse the circle rates for residential, commercial, and industrial properties in this posh neighbourhood.
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If you’re a first-time home buyer, you’ve probably heard the term “ready reckoner rates” once or twice. The ready reckoner rate of a location is the minimum price set by the government for properties and their registration; it is sometimes referred to as the circular rate or, in some states, Jantri rates. However, what effect does the ready reckoner rate have on your investment choices in GB Road Thane? The significance and effects of ready reckoner rates are examined in the context of Ghodbunder Road in this article.
Understanding the ready reckoner rate in GB Road is crucial, Thane
In the Indian real estate market, the ready reckoner rate plays a significant role in determining property prices and transactions. It is the lowest amount, set by the government, at which a property may be registered. Stamp duty computations, property taxes, and real estate transactions are all heavily influenced by this rate. The reasons why knowing a location’s ready reckoner rate is crucial before making an investment are explained in more detail in the section below.
Appraisal of Property
The ready reckoner rate functions as a standard by which to value properties. It aids in determining a property’s fair market value for both buyers and sellers. Any undervaluation or overvaluation can be found by comparing the Ready Reckoner Rate with the actual transaction price.
Calculating stamp duty
The ready reckoner rate serves as the basis for calculating stamp duty. It is a state-by-state tax impose on real estate transactions. Buyers and sellers can precisely determine the stamp duty payable and prevent discrepancies by utilizing the ready reckoner rate.
Taxation
Property taxes are also influenced by the ready reckoner rate. This rate is used by local governments and municipal corporations to calculate property taxes. Property owners may have higher tax obligations as a result of higher rates.
Transparency and avoidance of black money
Transparency in real estate transactions is encourage by the ready reckoner rate. It aids in the prevention of shady transactions and the use of black money. The government can prevent unlawful activities and guarantee an equitable & transparent real estate market by implementing a uniform rate.
Factors influencing the ready reckoner rate in Thane West’s GB Road
The prices of real estate in the neighbourhood have an impact on a number of aspects, including the ready reckoner rate in Ghodbunder Rd, Thane. Several of these elements consist of:
Location
One of the main elements influencing the ready reckoner rate is a property’s location. Thane West’s Ghodbunder Road is a desirable area with good access to Mumbai & other areas of Thane. The price of real estate is also influence by its proximity to significant landmarks like hospitals, schools, and retail malls.
Infrastructure
The ready reckoner rate is also impact by the accessibility of excellent infrastructure, such as public transport, electricity, water supply, and roads. Recent years have seen major infrastructure development along Ghodbunder Rd, which has raised local real estate values.
Amenities
In residential complexes, the availability of facilities such as community halls, gyms, swimming pools, & parks affects the ready reckoner rate as well. Since they provide residents with a higher quality of life, properties with more amenities typically have higher rates.
Supply and Demand
The dynamics of supply and demand in the real estate market are key factors in setting property values. The ready reckoner rate may rise if there is a significant demand for real estate on Thane’s GB Road and a constrained supply.
Market trends
The ready reckoner rate is also influence by general market trends, which include the state of the economy, government regulations, and the real estate industry’s success. Making educated decisions about real estate investments requires keeping up with the most recent market developments.
The Ready Reckoner Rate in Thane West, GB
Ghodbunder Road, often known as GB Road, is a well-traveled route including luxurious residential properties, job centres, and superior communication nodes. This location has a lot more to offer in the future, as evidenced by the presence of reputable builders in the area and anticipated developments including Metro Line 4, a proposed coastal road between Khergaon & Gaimukh, and six footover bridges on the arterial corridor. The ready reckoner rates for homes, offices, businesses, and industries in Mauje Kawesar that are close to both sides of Ghodbunder Road are shown in the table below.
| Locality | Land/plot | Residential Buildings | Office Spaces | Commercial | Industrial |
| GB Road, Kawesar | Rs 24,500/sq m | Rs 118800/sq m | Rs 136500/sq m | Rs 148600/sq m | Rs 136500/sq m |
Purchasing real estate in a flourishing area like Ghodbunder, Thane, has advantages of its own. Imagine being able to visit nearby business offices, entertainment venues, micromarkets, luxurious high-rise residences, and more. But the real estate market in Maharashtra is as vibrant as they come. If you’re wanting to purchase real estate in this area, we advise you to first inquire with local real estate agents about the most recent ready reckoner rate in GB Road, Thane.
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