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.
Rates for Ready Reckoner in Mumbai, Maharashtra.pdf
1. 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.
2. 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 metre
RR Rating for your 100 square metre 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%
3. 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%
4. 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
5. 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
9. 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 authorised
people to get a copy of the rates' annual statement (ASR)
Step 2: 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.
10. 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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