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Navi Mumbai Ready Reckoner Rates - Everything You Need To Know
  • March 14, 2022
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Navi Mumbai Ready Reckoner Rates – Everything You Need To Know

Circle rates are also known as ready reckoner (RR) rates, and in Navi Mumbai, circle rates are called Ready Reckoner rates. A registrar or a sub-registrar from the state government informs a registrar or a sub-registrar of a minimum property amount. Knowing RR rates is crucial since it may help you figure out how much stamp duty you’ll have to pay when you register a property you’ve just bought. The ready reckoner rate in Navi Mumbai may be found online; read on to learn more.

 

Navi Mumbai Ready Reckoner Rates - Everything You Need To Know

 

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In Navi Mumbai, what is Ready Reckoner?

Circle rates are referred to as a ready reckoner in Maharashtra. Because land is a state issue, the state government can set a minimum rate for land and other assets. A property transaction in Navi Mumbai cannot be done at a rate lower than the minimum or more than the maximum ready reckoner rate. Vashi, Sanpada, Airoli, Ghansoli, Nerul, Kopar Khairane, CBD Belapur, New Panvel, Kamothe, Ulwe, Kalamboli, Dronagiri, Kharghar, and Taloja are among the Navi Mumbai areas. The Navi Mumbai Municipal Corporation is in charge of the city’s administration.

The prices change from one place to the next due to a variety of reasons. In Navi Mumbai, ready reckoner costs now vary from Rs 14,900 sq metre to Rs 1,40,100 sq metre.

 

Navi Mumbai’s Ready Reckoner Category

The Ready Reckoner rates in Navi Mumbai are separated into three categories: urban, influence, and rural.

An urban area is defined as an area that is under the jurisdiction of a municipal corporation, municipal council, Nagar panchayat, or cantonment board.

It is an area that is under the jurisdiction of the municipal corporation, council, Nagar panchayat, or cantonment board. This location, however, has the most potential for expansion and might be referred to as a growth centre.

Aside from metropolitan regions and influence areas, the remaining areas are rural.

 

Factors that Influence the Navi Mumbai Ready Reckoner Rate

There are several types of land, as well as various pricing. Agricultural, non-agricultural, flat, industrial, shop, and other sorts of lands exist. Residential, land, office, and retail rates are determined by the following factors:

A property’s or a sector’s market value

Amenities available in the neighbourhood or on the property

Residential, flat, plot, and other types of property

Charges for business areas are often greater than for residential spaces. In addition, the rates are greater in cities and lower in rural regions.

 

Rate Navi Mumbai Area by Ready Reckoner

The following are the ready reckoner rates in Navi Mumbai, broken down by area and property type:-

Name

Land

Residential

Office

Shop 

Industrial

Airoli 

Rs 27800

Rs 80300

Rs 85700

Rs 104000

Rs 85700

Kopar khairne  

Rs 33400

Rs 87700

Rs 101900

Rs 121500

Rs 101900

Ghansoli 

Rs 32900

Rs 76300

Rs 91500

Rs 108300

Rs 91500

Vashi

Rs 54700

Rs 103000

Rs 120200

Rs 140100

Rs 120200

Sanpada

Rs 44800

Rs 102000

Rs 116500

Rs 138100

Rs 116500

Nerul

Rs 14900

Rs 43000

Rs 55500

Rs 66400

Rs 55500

CBD Belapur

Rs 20800

Rs 55500

Rs 67100

Rs 81400

Rs 67100

New Panvel

Rs 23900

Rs 58800

Rs 71400

Rs 90600

Rs 71400

Kamothe

Rs 25600

Rs 66600

Rs 74900

Rs 90500

Rs 74900

Ulwe

Rs 23900

Rs 58800

Rs 71400

Rs 90600

Rs 71400

Kalamboli

Rs 23900

Rs 58800

Rs 71400

Rs 90600

Rs 71400

Dronagiri

Rs 23900

Rs 58800

Rs 71400

Rs 90600

Rs 71400

Taloja

Rs 19000

Rs 56100

Rs 65400

Rs 76500

Rs 65400

Kharghar

Rs 40500

Rs 88700

Rs 97600

Rs 115000

Rs 97600

 

Navi Mumbai Ready Reckoner Rates - Everything You Need To Know

 

On the Ready Reckoner Rate, a premium is charged.

The Maharashtra government adds a premium to ready reckoner rates for flats, particularly those in high-rise buildings.

Floor Category

Premium Charged

Up to 4th floor

Nil

5-10th floor

5%

11-20th floor

10%

21-30th floor

15%

31st floor and above

20%

 

What exactly is Market Value and how is it calculated?

The property’s market value is established using the ready Annual Statement Rate (ASR) Navi Mumbai. Under the Maharashtra Stamp Act and the Maharashtra Stamp (Determination of True Market Value of Property) Rule, 1995, the rates are announced on December 31. In a nutshell, market value is the price at which a property may be sold (its worth) and on which stamp duty and registration fees are paid.

Remember that the property’s agreed value might be higher than its market value, and stamp duty is levied on the higher of the two.

To summarise, the ready reckoner rate in Navi Mumbai varies depending on whether you are in a city, an impact area, or a rural location. Not only that, but the rate varies according on the type of land; for example, residential property has lower charges than commercial property. Ready reckoner rates are determined by factors such as the property’s market value and facilities provided. A homebuyer can file a complaint with RERA if the property is not sold at these prices. The vendor will then be required to pay the fine.

 

 

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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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