Ready Reckoner Rate Mumbai 2020

Ready reckoner Rate, Current Stamp Duty and Registration Charges in Mumbai

• Ready reckoner rates refer to the minimum rate notified by the government through the registrar or sub registrar office of Mumbai for registration of property transactions.
• Stamp duty is to be paid on the higher of the declared transaction value and the value calculated as per ready reckoner rate chart applicable for the sector or area of Mumbai.
• Ready Reckoner rates of Mumbai has remain unchanged for FY2018 – 19. The ready reckoner rates were last hiked on 1st April, 2017 by Government of Maharashtra.

Ready Reckoner Rates Mumbai for Flats, Apartments, Offices and Shops

Area	Flats and Apartments (Rs. Per Square Meter)	Office / Shop (Rs. Per Square Meter)
Andheri East	₹ 1.14 Lakh - ₹ 2.44 Lakh	₹ 1.25 Lakh - ₹ 2.68 Lakh / ₹ 1.65 Lakh - ₹ 3.31 Lakh
Andheri East Kurla Road	₹ 1.08 Lakh - ₹ 1.58 Lakh	₹ 1.43 Lakh - ₹ 1.74 Lakh / ₹ 1.73 Lakh - ₹ 2.37 Lakh
Andheri East Marol	₹ 92,100 - ₹ 1.57 Lakh	₹ 1.11 Lakh - ₹ 1.78 Lakh / ₹ 1.40 Lakh - ₹ 3.38 Lakh
Andheri Oshiwara	₹ 1.01 Lakh - ₹ 2.37 Lakh	₹ 1.21 Lakh - ₹ 2.61 Lakh / ₹ 1.67 Lakh - ₹ 3.03 Lakh
Andheri Varivali	₹ 1.45 Lakh - ₹ 1.73 Lakh	₹ 1.66 Lakh - ₹ 1.90 Lakh / ₹ 2.07 Lakh - ₹ 2.50 Lakh
Andheri Versova	₹ 1.49 Lakh - ₹ 2.09 Lakh	₹ 1.64 Lakh - ₹ 2.60 Lakh / ₹ 1.97 Lakh - ₹ 3.25 Lakh
Andheri West	₹ 1.38 Lakh - ₹ 2.10 Lakh	₹ 1.56 Lakh - ₹ 2.60 Lakh / ₹ 2.14 Lakh - ₹ 3.25 Lakh
Bandra East	₹ 1.11 Lakh - ₹ 2.90 Lakh	₹ 1.30 Lakh - ₹ 3.27 Lakh / ₹ 1.88 Lakh - ₹ 4.17 Lakh
Bandra Reclamation	₹ 2.43 Lakh	₹ 2.79 Lakh / ₹ 3.59 Lakh
Bandra West	₹ 1.32 Lakh - ₹ 4.50 Lakh	₹ 1.51 Lakh - ₹ 4.95 Lakh / ₹ 1.91 Lakh - ₹ 6.02 Lakh
Bapnala	₹ 91,200	₹ 1.11 Lakh / ₹ 1.49 Lakh
BKC and Kalina	₹ 1.29 Lakh - ₹ 3.44 Lakh	₹ 1.48 Lakh - ₹ 3.79 Lakh / ₹ 1.88 Lakh - ₹ 4.55 Lakh
Borivali East	₹ 52,800 - ₹ 1.87 Lakh	₹ 1.42 Lakh - ₹ 2.43 Lakh / ₹ 65,800 - ₹ 3.02 Lakh
Borivali West	₹ 95,300 - ₹ 1.18 Lakh	₹ 1.15 Lakh - ₹ 1.44 Lakh / ₹ 1.38 Lakh - ₹ 2.05 Lakh
Brahamanwada	₹ 1.20 Lakh - ₹ 1.37 Lakh	₹ 1.34 Lakh - ₹ 1.59 Lakh / ₹ 1.99 Lakh - ₹ 2.25 Lakh
Byculla	₹ 82,000 - ₹ 4.70 Lakh	₹ 1.05 Lakh - ₹ 5.30 Lakh / ₹ 1.57 Lakh - ₹ 6.36 Lakh
Colaba	₹ 2.80 Lakh - ₹ 6.52 Lakh	₹ 3.08 Lakh - ₹ 7.96 Lakh / ₹ 3.68 Lakh - ₹ 9.24 Lakh
Dadar	₹ 71,300 - ₹ 2.22 Lakh	₹ 1.05 Lakh - ₹ 2.50 Lakh / ₹ 1.31 Lakh - ₹ 3.32 Lakh
Dharavi	₹ 73,600 - ₹ 88,000	₹ 81,000 - ₹ 96,800 / ₹ 98,500 - ₹ 1.16 Lakh
Dindoshi	₹ 93,700 - ₹ 1.70 Lakh	₹ 1.25 Lakh - ₹ 2 Lakh / ₹ 1.61 Lakh - ₹ 2.52 Lakh
Fort	₹ 1.82 Lakh - ₹ 5.92 Lakh	₹ 2.32 Lakh - ₹ 7.10 Lakh / ₹ 2.61 Lakh - ₹ 8.37 Lakh
Girgaum Chowpatty	₹ 1.65 Lakh - ₹ 4.51 Lakh	₹ 2.01 Lakh - ₹ 5.51 Lakh / ₹ 2.41 Lakh - ₹ 8.23 Lakh
Goregaon East	₹ 51,000 - ₹ 2.21 Lakh	₹ 63,300 - ₹ 2.46 Lakh / ₹ 87,600 - ₹ 4.03 Lakh
Goregaon West	₹ 68,700 - ₹ 1.77 Lakh	₹ 81,300 - ₹ 2.39 Lakh / ₹ 97,400 - ₹ 3.17 Lakh
Jogeshwari East	₹ 1.15 Lakh - ₹ 2.11 Lakh	₹ 1.32 Lakh - ₹ 2.32 Lakh / ₹ 1.50 Lakh - ₹ 2.53 Lakh
Jogeshwari West	₹ 88,400 - ₹ 1.97 Lakh	₹ 99,000 - ₹ 2.21 Lakh / ₹ 1.51 Lakh - ₹ 2.88 Lakh
Juhu	₹ 2.31 Lakh - ₹ 3.77 Lakh	₹ 2.54 Lakh - ₹ 4.15 Lakh / ₹ 3.03 Lakh - ₹ 5.07 Lakh
Kandivali East	₹ 42,900 - ₹ 1.69 Lakh	₹ 1.48 Lakh - ₹ 1.86 Lakh / ₹ 53,700 - ₹ 2.12 Lakh
Kandivali West	₹ 1.31 Lakh	₹ 1.63 Lakh / ₹ 1.96 Lakh
Lower Parel	₹ 1.78 Lakh - ₹ 5.24 Lakh	₹ 1.89 Lakh - ₹ 6.51 Lakh / ₹ 2.14 Lakh - ₹ 7.66 Lakh
Madh Village	₹ 58,400	₹ 90,400 / ₹ 1.32 Lakh
Mahim	₹ 2.15 Lakh - ₹ 3.81 Lakh	₹ 2.36 Lakh - ₹ 4.63 Lakh / ₹ 2.57 Lakh - ₹ 6.16 Lakh
Malabar and Cumballa Hills	₹ 3.40 Lakh - ₹ 8.61 Lakh	₹ 4.42 Lakh - ₹ 10.62 Lakh / ₹ 5.14 Lakh - ₹ 11.97 Lakh
Malad East	₹ 74,600 - ₹ 1.63 Lakh	₹ 98,000 - ₹ 1.88 Lakh / ₹ 1.27 Lakh - ₹ 2.48 Lakh
Malad West	₹ 98,900 - ₹ 1.71 Lakh	₹ 1.18 Lakh - ₹ 2.11 Lakh / ₹ 1.39 Lakh - ₹ 2.96 Lakh
Malad West North	₹ 70,500 - ₹ 1.28 Lakh	₹ 85,000 - ₹ 1.98 Lakh / ₹ 1.02 Lakh - ₹ 2.94 Lakh
Malad West South	₹ 99,400 - ₹ 1.58 Lakh	₹ 1.25 Lakh - ₹ 1.91 Lakh / ₹ 1.57 Lakh - ₹ 2.57 Lakh
Malvani	₹ 78,800 - ₹ 1.06 Lakh	₹ 90,000 - ₹ 1.19 Lakh / ₹ 1.03 Lakh - ₹ 1.37 Lakh
Mandvi	₹ 1.26 Lakh - ₹ 2.21 Lakh	₹ 1.93 Lakh - ₹ 2.89 Lakh / ₹ 2.33 Lakh - ₹ 3.69 Lakh
Marine Drive	₹ 1.65 Lakh - ₹ 4.46 Lakh	₹ 2.19 Lakh - ₹ 4.68 Lakh / ₹ 2.88 Lakh - ₹ 5.57 Lakh
Matunga	₹ 1.43 Lakh - ₹ 2.52 Lakh	₹ 1.71 Lakh - ₹ 2.96 Lakh / ₹ 2.13 Lakh - ₹ 4.02 Lakh
Mazgaon	₹ 69,400 - ₹ 2.18 Lakh	₹ 96,100 - ₹ 2.69 Lakh / ₹ 1.10 Lakh - ₹ 3.23 Lakh
Nariman Point	₹ 4.14 Lakh - ₹ 5.76 Lakh	₹ 5.18 Lakh - ₹ 6.99 Lakh / ₹ 6.55 Lakh - ₹ 8.31 Lakh
Parel Sewri	₹ 84,600 - ₹ 3.36 Lakh	₹ 1.21 Lakh - ₹ 3.78 Lakh / ₹ 1.51 Lakh - ₹ 4.38 Lakh
Parigha Creek	₹ 89,100 - ₹ 1.72 Lakh	₹ 1.06 Lakh - ₹ 2.90 Lakh / ₹ 1.51 Lakh - ₹ 3.03 Lakh
Parjapur Andheri	₹ 85,400	₹ 1.02 Lakh / ₹ 1.22 Lakh
Princess Dock	₹ 1.59 Lakh - ₹ 2.40 Lakh	₹ 2.05 Lakh - ₹ 2.76 Lakh / ₹ 2.49 Lakh - ₹ 3.83 Lakh
Sahar	₹ 1.41 Lakh	₹ 1.55 Lakh / ₹ 1.74 Lakh
Salt Pan	₹ 91,600 - ₹ 1.92 Lakh	₹ 1.05 Lakh - ₹ 2.11 Lakh / ₹ 1.57 Lakh - ₹ 2.83 Lakh
Sion	₹ 1.28 Lakh - ₹ 2.33 Lakh	₹ 1.53 Lakh - ₹ 2.65 Lakh / ₹ 1.83 Lakh - ₹ 3.31 Lakh
Tardeo	₹ 1.71 Lakh - ₹ 3.37 Lakh	₹ 2.05 Lakh - ₹ 4.81 Lakh / ₹ 2.57 Lakh - ₹ 5.68 Lakh
Vile Parle East	₹ 93,100 - ₹ 2.16 Lakh	₹ 1.04 Lakh - ₹ 2.80 Lakh / ₹ 1.28 Lakh - ₹ 3.51 Lakh
Vile Parle West	₹ 1.76 Lakh - ₹ 2.73 Lakh	₹ 2.40 Lakh - ₹ 3.29 Lakh / ₹ 2.90 Lakh - ₹ 4.11 Lakh
Villages	₹ 42,000 - ₹ 1.25 Lakh	₹ 55,100 - ₹ 1.38 Lakh / ₹ 66,000 - ₹ 1.80 Lakh
Wadhvan	₹ 64,200 - ₹ 1.30 Lakh	₹ 80,200 - ₹ 1.68 Lakh / ₹ 96,200 - ₹ 2.07 Lakh
Worli	₹ 1.73 Lakh - ₹ 5.88 Lakh	₹ 2.13 Lakh - ₹ 5.96 Lakh / ₹ 2.67 Lakh - ₹ 7.01 Lakh

What does ready reckoner rate in Mumbai depend upon? Are the rates same across Mumbai?

• Ready reckoner rates tend to vary across various areas of Mumbai depending upon the market value of the area and the facilities that are available in that area
• Mumbai administration has divided the properties in Mumbai and its suburbs into 19 divisions or zones and further into 221 sub zones based on location. Classification of zones and sub zones is mostly done with reference to main arterial roads and railway lines (west to east) – the marine drive, the linking road, the western railway line, the western express highway, the central railway line, the eastern express highway and the harbor line. The current classification of areas in Mumbai is available here
• Typically, government tends to assign higher ready reckoner rate to commercial properties and lower rates for residential properties
• Ready reckoner rates also depend upon the type of the property. Registrar value of flats and apartments in Mumbai is different from that of plots and independent houses even in the same area
• Stilt parking and open parking are to be taken into account while arriving at assesses value for payment of stamp duty. The value of parking slot attached to an apartment is linked to ready reckoner rates as below:

  Valuation of Parking Slots in Mumbai

  Stilt parking or covered parking	Area of parking slot multiplied by 25% of the ready reckoner rate per unit area applicable for the property
  Open parking	Area of parking slot multiplied by 40% of the ready reckoner rate of developed land in that zone

• It is well known that buyers in Mumbai prefer flats on higher floors and hence these are priced higher by builders and in resale markets. Builders charge a “floor rise” component for flats located on higher stories. Thus, the government of Maharashtra and Mumbai registrar office charge a premium on ready reckoner rate on flats located on higher floors as below:

Floor rise premium on flats in Mumbai for calculation of ready reckoner rates

Floor of the apartment block	Premium
Upto 4th floor	Nil
5th to 10th floors	5%
11th to 20th floors	10%
21st to 30th floor	15%
31st floor an above	20%

Stamp Duty in Mumbai

• Stamp duty is payable as a percentage of the higher of declared agreement value and assessed value as per ready reckoner rate chart.

Current Stamp Duty Rates in Mumbai

Stamp Duty Rate	Rates
Males	6%
Females	6%
Male and Female Joint Owners	6%

Registry Charges in Mumbai

• Registration charges are an additional levy over and above the stamp duty and are levied to cover the cost of running registration offices by the government
• While registering property in Mumbai you will need to pay a registration fee of

How to calculate value of a property for payment of stamp duty in Mumbai using circle rates?

Simply follow the following steps to calculate the value at which stamp duty is payable on purchase of property in Mumbai

Step 1 – Check the built up area of the property, its other features like floor, amenities, age of construction and plot area. Built up area is regarded as the higher of 1.2 times the carpet area of the flat and the actual built up area if the same is mentioned in the property documents

Step 2 – Select the applicable property type from among all the listed property types (e.g., is the property a flat or a plot or a house or a builder floor or a shop or a commercial unit)

Step 3 – Select the locality or area where the property is located from the classification available on registrar office website or on MyLoanCare

Step 4 – Calculate the minimum assessed value as per current ready reckoner rate as below:

Residential apartments

For builder flats and resale apartments in group housing societies, sum of: Built up area of flat in square meter multiplied by applicable circle rate for flats in Rs. per per square meter * (1 + floor rise) Number of open car parking slots * 40% of the ready reckoner rate of developed land in that zone Number of covered car parking slots * 25% of the ready reckoner rate per unit area applicable for the property

House Constructed on Plot

Sum of: Area of plot in square meter multiplied by applicable ready reckoner rate for flats in that area in Rs. per square meter multiplied by 1.25

What is the difference between market rate and ready reckoner rates?

• Ready reckoner rates are notified by the government and are used as reference point for payment of stamp duty on property transaction registrations in Mumbai
• Market prices refer to the actual price at which property sale-purchase transactions are transacted between buyers and sellers
• In most cases, ready reckoner rates tend to be slightly lower than market prices. However, in some cases it is seen that the ready reckoner rates may even be higher than market prices

Main Localities and Colonies in Mumbai for Calculation of Ready Reckoner Rate