Rates for Ready Reckoner in Mumbai, Maharashtra
The Ready Reckoner (RR) rates have raised by an average of 8.80 percent throughout the State under the Maharashtra government. No increase in circle charges, nevertheless, was announced for Mumbai. The ready reckoner (RR) rates have increased throughout the State of Maharashtra, with the exception of Mumbai.
Are you searching for flat on rent in kharghar?
Circular rates in Thane, Navi Mumbai, Ulas Nagar, Vasai–Virar, Panvel, Pune, Pimpri Chinchwad, Sholapur, Nasik, Ahmadnagar, Latur, and Aurangabad have increased by 9.48 percent, 9.90 percent, 9.81 percent, 9. percent, 9. percent, 9. percent, 9. percent, 6.12 percent, 9. percent, and 12.36 percent, respectively.
Describe the ready reckoner rate.
India’s Maharashtra government as well as the real estate sector, in particular, employ a ready reckoner to estimate a property’s value for a variety of uses, including taxation, stamp duty calculation, and property registration.
The minimal valuation at which a property can be registered in a specific location is known as the ready reckoner rate, sometimes known as the circular rate, and is decided by the revenue department of the relevant state government. The market value of a property is calculated using the ready reckoner rate as a benchmark, taking into account numerous elements like location, size, age, & amenities.
The revenue department publishes the new rates as the ready reckoner is normally updated once a year. Property buyers, sellers, & intermediaries utilise the handy reckoner to ascertain a property’s market worth and make sure that transactions are fair and open.
It’s crucial to remember that the ready reckoner rate is merely a benchmark utilised by the government and not the true market worth of a property. Depending on a number of variables like supply & demand, location, & market circumstances, a property’s actual market value may be more or lower than the ready reckoner rate.
Here is a formula for determining how much stamp duty is due when registering a conveyance deed for a property transfer.
For illustration:
If your property is 100 square metres and located in Mahim, then:
Mahim RR Rate: Rs 3,10,900 per square meter
RR Rating for your 100 square meter property: roughly Rs. 3.1 crore
Stamp duty due: Rs. 18 lakh (6% of Rs. 3.1 crore)
Mumbai RR Rate Changes: Updated March 2023
| Areas | RR rate (%hike) |
| Nasik | 12.15% |
| Aurangabad | 12.38% |
| Thane | 9.48% |
| Sholapur | 8.08% |
| Ulas Nagar | 9.81% |
| Latur | 11.93% |
| Panvel | 9.24% |
| Navi Mumbai | 8.90% |
| Pimpri Chinchwad | 12.36% |
| Vasai-Virar | 9% |
| Ahmadnagar | 7.72% |
| Pune | 6.12% |
The revision occurred despite the State government’s decision to maintain the ready reckoner rates in May 2020 because it was evaluating the new rates in the wake of the Coronavirus epidemic.
The ready reckoner rates are decided by Mumbai’s Stamps & Registration Department based on the regional housing market. The administration has divided Mumbai’s properties into 19 zones or divisions. Compared to residential properties, commercial properties are paid greater circle rates.
The Maharashtra government levies a premium on the ready reckoner rate on flats built on higher floors, in contrast to Noida and Greater Noida where a rebate is offered for a condominium on the fourth floor of a complex of homes.
Mumbai apartments’ floor-by-floor premium
| Floor of the building | Premium charged |
| Up to 4th floor | Nil |
| 5th to 10th floor | 5% |
| 21st to 30th floor | 15% |
| 11th to 20th floor | 10% |
| 31st floor an above | 20% |
Mumbai ready reckoner rates, zone-by-zone: March 2023
Rates for Ready Reckoner in Worli
| Sub-division | Circle rates (per sq m) |
| Worli Village | Rs 1,68,710 |
| Dr Annie Besant Road | Rs 4,10,630 |
| Sasmira Road to the West, boundary to the East and South and boundary of Worli Gauthan to the North | Rs 2,99,890 |
| Mau Abdul Ghafar Khan Road from Worli Sea Face | Rs 5,93,700 |
| 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 |
Rates for Ready Reckoner in Colaba
| Sub-division | Circle rates (per sq m) |
| Navinagar, Part south of Colaba south of Bhabha Road, Navinagar Tata Institute of Fundamental Reachers Colaba Point | Rs 2,69,180 |
| Bhabha Road (North of Navy Colaba) | Rs 2,96,830 |
| Shaheed Bhagat Singh Marg, from Rigal Cinema to R Salgaonkar Road | Rs 4,91,990 |
| 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 |
Rates for Ready Reckoner 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 |
| 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 |
| Dharavi Road | Rs 87,660 |
Rates for Ready Reckoner in Lower Parel
| Sub-division | Circle rates (per sq m) |
| Mahim Area | Rs 3,10,900 |
| Pandurang Budhkar Road to the South, East Sayani Road, Mhatre Road, and Tandel Road | Rs 4,59,010 |
| 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 |
| Dr Annie Besant Road | Rs 4,05,320 |
| Oriental Silk Mill, East of Prabhadevi Chowk | Rs 4,86,580 |
Mumbai’s Ready Reckoner for apartments, homes, and commercial property (per sq meter)
| Localities | Flats/Apartments | Residential Land | Industrial Land |
| Nariman Point | Rs.413,700 – Rs.576,300 | Rs.192,200 – Rs.308,700 | Rs.413,700 – Rs.576,300 |
| Girgaum Chowpatty | Rs.165,400 – Rs.450,700 | Rs.78,900 – Rs.256,400 | Rs.165,400 – Rs.450,700 |
| Byculla | Rs.82,000 – Rs.469,900 | Rs.38,500 – Rs.214,200 | Rs.93,400 – Rs.469,900 |
| Tardeo | Rs.171,300 – Rs.337,400 | Rs.82,600 – Rs.184,700 | Rs.171,300 – Rs.337,400 |
| Malabar & Cumballa Hills | Rs.339,500 – Rs.861,000 | Rs.185,700 – Rs.475,400 | Rs.339,500 – Rs.861,000 |
| Colaba | Rs.280,400 – Rs.652,100 | Rs.130,400 – Rs.339,000 | Rs.280,400 – Rs.652,100 |
| Marine Drive | Rs.164,800 – Rs.445,600 | Rs.83,300 – Rs.221,800 | Rs.164,800 – Rs.445,600 |
| Fort | Rs.182,100 – Rs.592,300 | Rs.97,000 – Rs.296,500 | Rs.182,100 – Rs.592,300 |
| Princess Dock | Rs.158,900 – Rs.240,200 | Rs.56,400 – Rs.130,600 | Rs.158,900 – Rs.240,200 |
| Mandvi | Rs.126,000 – Rs.221,200 | Rs.65,700 – Rs.130,600 | Rs.126,000 – Rs.221,200 |
| Mazgaon | Rs.69,400 – Rs.217,600 | Rs.27,100 – Rs.97,400 | Rs.69,300 – Rs.217,600 |
| Lower Parel | Rs.178,300 – Rs.523,600 | Rs.48,800 – Rs.236,100 | Rs.178,300 – Rs.523,600 |
| Parel Sewri | Rs.84,600 – Rs.335,700 | Rs.26,200 – Rs.144,50 | Rs.97,600 – Rs.335,700 |
| Dadar | Rs.71,300 – Rs.222,000 | Rs.40,200 – Rs.102,300 | Rs.99,800 – Rs.222,000 |
| Worli | Rs.172,500 – Rs.587,800 | Rs.77,700 – Rs.318,200 | Rs.172,500 – Rs.587,800 |
| Matunga | Rs.142,500 – Rs.252,000 | Rs.56,300 – Rs.113,600 | Rs.142,500 – Rs.252,000 |
| Salt Pan | Rs.91,600 – Rs.191,900 | Rs.46,000 – Rs.85,800 | Rs.91,600 – Rs.191,900 |
| Dharavi | Rs.73,600 – Rs.88,000 | Rs.25,000 – Rs.42,900 | Rs.73,600 – Rs.88,000 |
| Mahim | Rs.214,500 – Rs.381,500 | Rs.98,600 – Rs.210,500 | Rs.214,500 – Rs.381,500 |
| Sion | Rs.127,700 – Rs.233,300 | Rs.55,300 – Rs.115,900 | Rs.127,700 – Rs.233,300 |
| Bandra West | Rs.131,700 – Rs.449,600 | Rs.74,500 – Rs.299,900 | Rs.131,700 – Rs.449,600 |
| Bandra Reclamation | Rs.242,600 – Rs.242,600 | Rs.148,100 – Rs.148,100 | Rs.242,600 – Rs.242,600 |
| Parigha Creek | Rs.89,100 – Rs.171,700 | Rs.35,200 – Rs.93,400 | Rs.89,100 – Rs.171,700 |
| Bandra East | Rs.111,400 – Rs.289,900 | Rs.57,900 – Rs.169,000 | Rs.117,800 – Rs.289,900 |
| BKC & Kalina | Rs.129,400 – Rs.344,000 | Rs.78,100 – Rs.206,800 | Rs.133,900 – Rs.344,000 |
| Bapnala | Rs.91,200 – Rs.91,200 | Rs.40,900 – Rs.40,900 | Rs.108,500 – Rs.108,500 |
| Brahamanwada | Rs.120,000 – Rs.136,700 | Rs.65,100 – Rs.71,100 | Rs.128,000 – Rs.136,700 |
| Sahar | Rs.140,800 – Rs.140,800 | Rs.69,600 – Rs.69,600 | Rs.140,800 – Rs.140,800 |
| Vile Parle East | Rs.93,100 – Rs.215,600 | Rs.46,200 – Rs.129,500 | Rs.109,500 – Rs.215,600 |
| Andheri East | Rs.114,000 – Rs.243,600 | Rs.58,900 – Rs.142,200 | Rs.114,000 – Rs.243,600 |
| Juhu | Rs.230,700 – Rs.376,600 | Rs.136,900 – Rs.227,400 | Rs.230,700 – Rs.376,600 |
| Vile Parle West | Rs.176,300 – Rs.273,200 | Rs.105,600 – Rs.160,500 | Rs.176,300 – Rs.273,200 |
| Andheri West | Rs.137,500 – Rs.210,100 | Rs.70,600 – Rs.136,500 | Rs.150,800 – Rs.210,100 |
| Andheri East Marol | Rs.92,100 – Rs.157,300 | Rs.50,200 – Rs.95,100 | Rs.92,100 – Rs.157,300 |
| Andheri East – Kurla Road | Rs.108,300 – Rs.158,200 | Rs.60,000 – Rs.81,700 | Rs.108,300 – Rs.158,200 |
| Andheri Varivali | Rs.144,900 – Rs.173,000 | Rs.76,400 – Rs.103,700 | Rs.144,900 – Rs.173,000 |
| Parjapur Andheri | Rs.85,400 – Rs.85,400 | Rs.39,800 – Rs.39,800 | Rs.91,100 – Rs.91,100 |
| Madh Village | Rs.58,400 – Rs.58,400 | Rs.22,600 – Rs.22,600 | Rs.79,900 – Rs.79,900 |
| Jogeshwari East | Rs.115,100 – Rs.210,600 | Rs.60,800 – Rs.117,200 | Rs.115,100 – Rs.210,600 |
| Jogeshwari West | Rs.88,400 – Rs.196,900 | Rs.40,000 – Rs.124,700 | Rs.88,400 – Rs.196,900 |
| Goregaon East | Rs.51,000 – Rs.220,500 | Rs.21,200 – Rs.130,500 | Rs.51,000 – Rs.228,600 |
| Malad West | Rs.98,900 – Rs.170,900 | Rs.45,600 – Rs.86,600 | Rs.98,900 – Rs.170,900 |
| Andheri Versova | Rs.149,000 – Rs.209,400 | Rs.74,700 – Rs.125,600 | Rs.149,000 – Rs.209,400 |
| Andheri Oshiwara | Rs.100,600 – Rs.237,100 | Rs.52,800 – Rs.147,600 | Rs.100,600 – Rs.237,100 |
| Villages | Rs.42,000 – Rs.125,400 | Rs.16,500 – Rs.62,700 | Rs.42,000 – Rs.125,400 |
| Goregaon West | Rs.68,700 – Rs.177,500 | Rs.26,800 – Rs.114,700 | Rs.68,700 – Rs.177,500 |
| Dindoshi | Rs.93,700 – Rs.170,200 | Rs.34,000 – Rs.102,200 | Rs.93,700 – Rs.170,200 |
| Malad East | Rs.74,600 – Rs.163,100 | Rs.29,500 – Rs.80,500 | Rs.74,600 – Rs.163,100 |
| Malad West North | Rs.70,500 – Rs.128,500 | Rs.28,700 – Rs.76,300 | Rs.78,200 – Rs.128,500 |
| Malad West South | Rs.99,400 – Rs.158,200 | Rs.45,500 – Rs.88,400 | Rs.99,400 – Rs.163,800 |
| Malvani | Rs.78,800 – Rs.106,000 | Rs.38,600 – Rs.63,400 | Rs.78,800 – Rs.106,000 |
| Kandivali West | Rs.130,800 – Rs.130,800 | Rs.73,300 – Rs.73,300 | Rs.130,800 – Rs.130,800 |
| Wadhvan | Rs.64,200 – Rs.130,100 | Rs.25,100 – Rs.64,900 | Rs.64,200 – Rs.130,100 |
| Kandivali East | Rs.42,900 – Rs.169,400 | Rs.32,400 – Rs.91,900 | Rs.131,900 – Rs.169,400 |
| Borivali East | Rs.52,800 – Rs.186,800 | Rs.38,800 – Rs.112,100 | Rs.114,100 – Rs.186,800 |
| Borivali West | Rs.95,300 – Rs.117,600 | Rs.39,400 – Rs.71,300 | Rs.95,300 – Rs.117,600 |
How do I access the Ready Reckoner Rates for IGR Maharashtra online?
The Department of Registration & Stamps website offers customers the option of checking the most recent ready reckoner rates online. As an example, check:
Step 1: Visit IGR Maharashtra, the official website of the Department of Registration & Stamps Maharashtra. Go to the “Online Services” section now.
Step 2: Choose “e-ASR” from the menu, then select “Process,” which will take you to the map page. By clicking, select the topic you want to learn more about.
Step 3: In the third step, pick the district or village. The annual statement of rates can be searched using the survey number or locality.
How can I examine IGR Maharashtra’s Ready Reckoner Rates offline?
Step 1: Go to the local subregistrar’s office and speak with one of the authorized people to get a copy of the rates’ annual statement (ASR)
2 Step: Next, to get the ready reckoner rates in Mumbai, give information about your property, like its location, neighbourhood, owner’s name, city, etc.
Step 3: Multiply the cost per square foot by the entire area of your property to determine the precise pricing for your property.
Parking space valuation
| Stilt parking or covered parking | Area of parking slot x 25% of RR of that property type |
| Open parking | Area of parking slot x 40% of RR of developed land in the respective zone |
Mumbai’s Ready Reckoner Rates: How are they calculated?
Ready, Set, Recon The government’s revenue agency in Mumbai sets rates based on a number of variables, including the property’s location, the amenities offered in the region, the infrastructure, as well as the demand for houses in that area. Based on the state of the market and other variables, the rates are adjusted annually.
Effects of RR Rates on the Real Estate Market
The Mumbai real estate market has been significantly impacted by the city’s RR rates. Finding inexpensive properties has become harder for buyers in some areas as a result of the altered rates. Yet, there has been an upsurge in demand for properties in locations where rates have dropped.
The affordable housing market has been one of the most significantly affected by the altered circular rates. The development of affordable housing developments has slowed as a result of the higher costs in some areas, which have made it harder for developers to offer such projects.
Can Mumbai Ready Reckoner Prices be contested or appealed?
If a property owner thinks that the Ready Reckoner Rates in Mumbai 2023 are unfair or incorrect, they may be contested or appealed. Yet, the procedure can be difficult and drawn out, necessitating the help of a lawyer or property adviser.
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