Mumbai 2023: Ready Reckoner Rates!

The Ready Reckoner rates in Mumbai, Maharashtra in 2023 are the same as the rates that were in effect in 2022-23. This means that the Maharashtra government has decided not to increase the Ready Reckoner rates for the financial year 2023-24.

The Ready Reckoner rates are the minimum rates at which properties can be registered in Mumbai. They are used by the government to calculate stamp duty and registration charges.

The Ready Reckoner rates in Mumbai vary depending on the locality and the type of property. For example, the Ready Reckoner rate for a flat in South Mumbai is much higher than the Ready Reckoner rate for a flat in the suburbs.

Here are some examples of Ready Reckoner rates in Mumbai for different localities and types of properties:

LocalityType of propertyReady Reckoner rate (₹ per square meter)
South MumbaiFlat₹50,000 – ₹1,00,000
Central MumbaiFlat₹30,000 – ₹50,000
Western SuburbsFlat₹20,000 – ₹30,000
Eastern SuburbsFlat₹15,000 – ₹20,000

It is important to note that the Ready Reckoner rates are just the minimum rates at which properties can be registered. The actual sale price of a property may be higher or lower than the Ready Reckoner rate.

To calculate the stamp duty and registration charges for your property transaction, you can use the following formula:

Stamp duty = Ready Reckoner rate * area of the property * stamp duty rate

Registration charges = Ready Reckoner rate * area of the property * registration charges rate

The stamp duty rate and registration charges rate vary depending on the type of property and the relationship between the buyer and seller.

For more information on Ready Reckoner rates in Mumbai, please visit the website of the Inspector General of Registration, Maharashtra: https://igrmaharashtra.gov.in/

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.

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