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Rates for Ready Reckoner in Mumbai, Maharashtra

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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Disclaimer: The views of this expressed above are for informational purposes only based on the industry reports & related news stories. Navimumbaihouses.com does not guarantee the accuracy of this article, completeness, or reliability of the information & shall not be held responsible for any action taken based on the published information.
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