Thinking about buying, selling, or investing in property in Maharashtra? Then you need to understand one critical term Ready Reckoner Rate. Whether you're eyeing a home in Mumbai or land in Nashik, these government-notified rates can shape your property transaction costs and taxes.
In this guide, we break down everything you need to know about Ready Reckoner Rates in Maharashtra from the latest updates to city-wise rates, floor premiums, and practical tips for homebuyers and investors.
What’s New in 2025?
No Change in Ready Reckoner Rates for 2024–25
✅ Status Quo Continues
As of April 1, 2024, the Maharashtra government has announced that there will be no change in Ready Reckoner Rates for the second year in a row.
✅ Official Confirmation
This decision was confirmed by Satyanarayan Bajaj, Deputy Secretary of the Revenue Department, and communicated to all sub-registrars.
✅ Industry Welcomes Stability
Top real estate bodies like CREDAI have welcomed this move. It brings predictability for homebuyers and reduces sudden hikes in property costs.
What Are Ready Reckoner Rates?
Ready Reckoner Rates (also called Circle Rates in some states) are the minimum government-determined values for property transactions. These are used to calculate stamp duty and registration charges.
Whether you’re buying a flat in Pune or selling land in Thane, your transaction can’t be registered below these rates even if the market value is lower.
Why These Rates Matter
1. Property Valuation
They serve as the base price for taxation. The state calculates rates based on area, property type, usage (residential/commercial), and location.
2. Revenue Source for Government
Stamp duty collections, based on these rates, generate thousands of crores for the state.
3. No Undervaluation Allowed
Even if you get a good deal, you still pay duties based on the Ready Reckoner Rate, not your deal price.
Benefits of Ready Reckoner Rates
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Helps buyers estimate taxes and registration costs upfront
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Prevents speculative pricing
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Brings standardization and transparency
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Aids investors in planning ROI
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Useful for banks while approving loans
Floor-Wise Premiums in Maharashtra
In major metros like Mumbai, Pune, and Navi Mumbai, you’ll pay a floor-wise premium on high-rise buildings:
| Floors | Extra Charges on RRR |
|---|---|
| Up to 4th floor | 0% |
| 5th to 10th floor | 5% |
| 11th to 20th floor | 10% |
| 21st to 30th floor | 15% |
| Above 30th floor | 20% |
City-Wise Ready Reckoner Rates in Maharashtra (2024-25)
🔵 Mumbai
| Area | Residential (₹/sq. m) | Office (₹/sq. m) |
|---|---|---|
| Andheri East | ₹1.15L - ₹2.45L | ₹1.25L - ₹2.70L |
| Bandra East | ₹1.10L - ₹2.90L | ₹1.30L - ₹3.25L |
🟣 Pune
| Area | Residential (₹/sq. m) | Office (₹/sq. m) |
|---|---|---|
| Aundh | ₹54,450 - ₹1.05L | ₹87,100 - ₹1.25L |
| Budhwar Peth | ₹53,350 - ₹69,100 | ₹82,650 - ₹1.40L |
🟢 Navi Mumbai
| Area | Residential (₹/sq. m) | Industrial (₹/sq. m) |
|---|---|---|
| Vashi | ₹1.03L | ₹1.20L |
| Sanpada | ₹1.02L | ₹1.16L |
🟡 Thane
| Area | Residential (₹/sq. m) | Industrial (₹/sq. m) |
|---|---|---|
| Thane | ₹83,800 | ₹1.05L |
| Kalyan | ₹69,100 | ₹77,700 |
🔴 Nashik (₹/hectare)
| Area | Residential Rate |
|---|---|
| Wadgoan | ₹11.95L - ₹18L |
| Kalvi | ₹10.20L - ₹13.95L |
🟤 Nagpur (₹/sq. ft.)
| Area | Residential Rate |
|---|---|
| Civil Lines | ₹6,800 - ₹9,150 |
| Bajaj Nagar | ₹7,050 - ₹8,250 |
How to Check Ready Reckoner Rates
✅ Online Method
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Visit: igrmaharashtra.gov.in
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Go to "Online Services" > "e-ASR"
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Choose city, taluka, and area
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View current RRR by property type
✅ Offline Method
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Visit your local Sub-Registrar Office
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Provide location details
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Get official reckoner rate printout (free of cost)
Why It Matters for Real Estate Investment
If you’re eyeing property in areas like Chembur (Mumbai) or Hinjewadi (Pune), knowing the Ready Reckoner Rates gives you clarity on:
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Stamp duty burden
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Floor premiums
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Tax liability
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Legal compliance
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Market vs. government rates
Conclusion
Ready Reckoner Rates are more than just numbers they set the financial baseline for any real estate transaction in Maharashtra. Whether you're a first-time buyer, developer, or investor, understanding these rates will help you make smarter, compliant, and cost-effective decisions.
FAQs: Ready Reckoner Rates in Maharashtra
1. What is a Ready Reckoner Rate?
It’s the minimum property value fixed by the government to calculate stamp duty and registration charges.
2. Who sets Ready Reckoner Rates?
They are notified by the Department of Registration and Stamps, Government of Maharashtra.
3. Are these rates same as market rates?
Not necessarily. They’re usually lower than market rates but act as the legal minimum.
4. Can I negotiate below RRR?
You can, but stamp duty will still be charged as per the RRR, not the lower price.
5. How often are rates updated?
Generally, once a year although rates have remained unchanged in 2023-24 and 2024-25.
6. Is there a separate RRR for commercial properties?
Yes, rates vary for residential, office, industrial, and shop spaces.
7. Do RRRs vary within the same city?
Yes, different zones or localities have their own rates.
8. Where can I find official rates?
Visit the IGR Maharashtra website or your local sub-registrar’s office.