What is Ready Reckoner Rate? Ready Reckoner Rates in Mumbai for 2021.

Why Ready Reckoner Rate?

Are you planning to buy a house in Mumbai? Have you decided where you want to buy a house? Have you researched well about locality rates? There are so many other questions that can be asked. If you are planning to buy a house or property in Mumbai or any part of the country, you need to pay the stamp duty and register the property before the property transfer. When you go to the sub-registrar office, you come to know a new term, Ready Reckoner rate. 

You will wonder to know that you can't pay the Stamp duty on your actual buying cost. But you have to pay as per the ready reckoner rates of the particular locality. 

What is Ready Reckoner Rate?

The ready reckoner rate is the minimum standard rate provided by the state government through the sub-registrar office for immovable properties (Flat/House, Shop, Commercial office, land, etc.) for a particular locality. 

Ready reckoner rate is also referred to as circle rate. Ready reckoner rates differ as per states, cities, and even in a single city, it can differ as per localities.   

Ready Reckoner Rates in Mumbai  

The current ready reckoner or circle rates are as below provided by respective Sub-registrar offices in respective localities. Stamp duty and registration are done by considering the below ready reckoner rates in Mumbai. 

List of region-wise ready reckoner rates in Mumbai in 2021

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

Source of information - Myloan Care

Read this also;

How to buy SRA flats in Mumbai? Click to know more about it 

What is the difference between Ready Reckoner rates and Market rates?

• Ready Reckoner Rate- is a minimum standard rate for the immovable property provided by the State government. 

• Market Rate- Market rate is an actual rate at which property sale and purchase transactions take place between buyer and seller. 

How Ready Reckoner Rate is Calculated for parking Space and Higher floors?

• Parking Space- For parking space, the ready reckoner is calculated as below ;                   

      

Ready reckoner rate for parking space

Ready Reckoner charges on Higher floors in Mumbai

The Ready Reckoner rate is not fixed even in the same locality in the Mumbai metro region. Premium charges on higher floors need to be paid with a basic ready reckoner rate. 

The floor-wise premium charges in Mumbai are as follow-

Sr.No.	Floor Number	Premium Charged
1	Up to 4th Floor	Nill
2	5th to 10th	5%
3	11th to 20th	10%
4	21st to 30th	15%
5	31st and Above	20%

What is the purpose of the Ready Reckoner rate?

The main purpose of charging a ready reckoner rate for property registration is to control property cost. It is a minimum cost at which property is registered in case of transfer of the property. Stamp duty and registration charges are the major sources of government earning.

How to check Online Ready Reckoner rates in Mumbai?

The  Ready Reckoner rate varies as per locality and type of property. So if you want to check the exact price of the property you need to visit the official website of the state government. 

Follow the below steps to check ready reckoner rates in the Mumbai metro region. 

• Visit- Official website of State Government 

Department of Registration and Stamp duty

Check ready reckoner rate in Mumbai

• Select district and Village or Zone and press enter key to get ready reckoner rate of a particular area. 

How to check ready reckoner rate 

Note- Ready Reckoner rate is provided on the official website is in per square meter.  

Conclusion- 

Thus, We can see that there are many factors that decide the ready reckoner price of the property. Also, you came to know that how to check the ready reckoner rate of the particular location. 

References- Links and article

1) Mylone Care- https://www.myloancare.in/

2) Magicbricks- https://www.magicbricks.com/blog/ready-rekoner-rates-in-mumbai/118403.html

3) 99acres- https://www.99acres.com/articles/what-is-a-ready-reckoner-rate.html

1Rk in Bhandup West - 25 Lac