To see the ready reckoner rates in Vashi, go to the IGR Maharashtra website. A well-planned city close to Mumbai, Navi Mumbai is a component of the Mumbai Metropolitan Region (MMR). The city boasts a sophisticated social infrastructure, particularly in the form of several educational establishments. It is also a thriving centre for employment, home to offices and well-known international corporations. At the Mumbai-Pune Highway, Vashi is a neighbourhood and one of the best places to invest in Navi Mumbai. Affordable housing alternatives are available in Vashi, which makes it a desirable location. It is a good idea to research the average real estate prices in this area if you’re thinking about purchasing a home. To have a reasonable understanding of real estate prices, one needs be aware of the circle rates established by the state government.

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What are circle rates?

The Maharashtra government sets circle rates, also known as ready reckoner rates in Navi Mumbai, for properties, including land, in a given locality. A buyer must pay stamp duty and registration fees during the property registration process, which are determined by either the circle rates or the market rates at which the transaction occurred, whichever is higher. The state government updates these fees in response to a number of variables, including:

• Location: Vashi may offer cheaper ready reckoner rates than a priciest Mumbai suburb. It is important to remember that circle rates differ according on the property’s location.
• Property usage: Depending on how the property is used, the circle rates also change. When comparing residential to commercial properties, it is usually lower.
• Amenities: A neighborhood’s property prices are influenced by the presence of social amenities and infrastructure.
• Property age: Depending on how old the structure is, different property rates will apply.

Rates for ready reckoners in Navi Mumbai

Navi Mumbai’s circle prices are broken down into:

• Urban area: An area that is governed by the municipal corporation, municipal council, Nagar panchayat, and cantonment board area is referred to as an urban area.
• Area of influence: This falls under the jurisdiction of the cantonment board, council, municipal corporation, or Nagar panchayat. However, it can be categorized as a growth centre and offers substantial opportunities for expansion.
• Rural area: The remaining areas fall into this category, excluding metropolitan areas and impact areas.

Circle rates for Vashi, Navi Mumbai

Navi Mumbai circle rates

In Navi Mumbai, ready reckoner rates, also known as circle rates, range from Rs 14,900 sqm to Rs 1,40,100 sqm.

How to check the circular rates online in Navi Mumbai, Vashi?

Through the official website of the Department of Registration and Stamps Maharashtra, prospective homeowners can verify the ready reckoner pricing in Vashi or any other Navi Mumbai locality. Here is a methodical procedure to adhere to:

• Visit the Maharashtra government’s Department of Registration and Stamps at https://igrmaharashtra.gov.in/eASR/frmMap.aspx.
• Click the “e-ASR” option after navigating to the “online services” section.
• There will be various alternatives on the e-ASR (Annual Statement of Rates), including the User’s Guide, FAQ, e-ASR 1.9, and e-ASR 2.0. Choose the one that best suits your needs.
• The Maharashtra map will be displayed on a new page when you select the e-ASR option.
• Select the Thane district by clicking. From the dropdown menu, pick Thane Taluka, then Vashi from the Village section.

The area’s ready reckoner rates for homes, offices, shops, and industries will be shown.

Circle prices in Vashi: Trends in Residential and Commercial Real Estate

Situated beside the Mumba-Pune Highway in Navi Mumbai lies the well-established neighbourhood known as Vashi. Prominent communities including Kopar Khairane, Airoli, Ghansoli, Nerul, & CBD Belapur are all close by. Good access to Mumbai and surrounding areas is provided by major roadways like Thane-Belapur Road, Palm Beach Road, and the Vashi Flyover. The distance between it and the Chhatrapati Shivaji International Airport is about 25 km, while the future Navi Mumbai International Airport is about 24 km away. Furthermore, Vashi is a popular destination for working professionals due to the proximity of important offices, business parks, & industrial hubs. Due to the presence of schools, shopping centres, healthcare facilities, etc., the region is a good place to live. For individuals wishing to invest in both residential and commercial buildings, it is a popular choice.

These reasons are contributing to the consistent demand for residential real estate in Vashi. Reputable developers are promoting a number of residential projects. In the last year, Vashi’s average property prices per square foot have increased by almost 10%. The area’s real estate market is anticipated to rise as a result of the expansion of employment prospects and new infrastructural initiatives, which will raise property rates.

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