Ready Reckoner Rate Mumbai 2018

Ready reckoner rate in Mumbai Feb 2018-19, stamp duty, registration charges

Last Updated 22nd Feb 2018

Ready reckoner rates of Mumbai has been updated based on Government of Maharashtra rate hike effective from 1st April, 2017.

Current Ready Reckoner Rates in Mumbai

  • For residential apartments, the 2018 - 19 Ready reckoner rates in Mumbai range from Rs. 42,000 to Rs. 861,000 per square meter
  • As per the latest available notification, current Ready reckoner rates for commercial properties in Mumbai range from Rs. 42,000 per square meter to Rs. 1,197,500 per square meter
  • To check the current ready reckoner rate for your chosen area in Mumbai, use the MyLoanCare ready reckoner rate chart and tool
Select Area

Ready Reckoner Rate

Property Type Ready reckoner Rate*
Flats, Apartments Rs. 42,000 to Rs. 861,000 per square meter Details
Residential Lands Rs. 16,500 to Rs. 475,400 per square meter Details
Office Rs. 55,100 to Rs. 1,062,500 per square meter Details
Shop Rs. 53,700 to Rs. 1,197,500 per square meter Details
Industrial Lands Rs. 42,000 to Rs. 861,000 per square meter Details

Ready Reckoner Rates

  • 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

Stamp duty rate in Mumbai payable for registering property

  • 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%
Registration charges payable for registering property 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
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%
    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?

*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.