Mumbai Circle Rate 2026: Area-Wise Ready Reckoner Rate Guide
Everything you need to value a property in Mumbai — area-wise ready reckoner rates, stamp duty, registration charges, how the minimum value is calculated, and how to check the rate for your locality.
Quick Answer
In Mumbai, the government-notified minimum value used to register a property is called the Ready Reckoner Rate (the local term for a circle rate). It is set by the Department of Registration & Stamps (IGR), Government of Maharashtra and published through the IGR Maharashtra (e-ASR) portal. Indicative residential rates range from about ₹4,500 per sq ft in areas like Badlapur to ₹55,000 per sq ft in Worli. Stamp duty is about 6% for men and 5% for women (including metro cess), plus 1% registration.
What Is the Ready Reckoner Rate in Mumbai?
The Ready Reckoner Rate is the minimum price per unit area at which a property can be registered in Mumbai. A sale cannot be registered below this value, and stamp duty and registration charges are levied on whichever is higher — the ready reckoner rate value or the actual price agreed between buyer and seller. It is Mumbai’s equivalent of what other states call the circle rate, collector rate or ready-reckoner rate.
Rates are set by the Department of Registration & Stamps (IGR), Government of Maharashtra and notified locality by locality, then published on the IGR Maharashtra (e-ASR) portal. Because the applicable figure depends entirely on where your property sits, identifying the correct locality (and property type) is the first step for every buyer and seller. Maharashtra revised Ready Reckoner rates for FY2025-26 effective 1 April 2025, with Greater Mumbai up about 3.4%.
Mumbai Ready Reckoner Rate: Area-Wise Rates (2026)
The table below lists indicative residential ready reckoner rates for key Mumbai localities, ranked from the most premium to the most affordable, with the applicable rate per sq ft. Type a locality to filter.
Mumbai Ready Reckoner Rate Calculator
Estimate the minimum registered value, stamp duty and registration charges for a Mumbai property. Pick the locality, enter the built-up / saleable area, and choose the ownership type.
Estimate value, stamp duty & registration
Indicative only — based on the area-wise rates above. Confirm the exact figure on the IGR Maharashtra (e-ASR) portal or at the Sub-Registrar office.
For land or a plot, enter the plot area. The registered value is the ready reckoner rate value or your actual deal value, whichever is higher.
How the Registered Value Is Calculated in Mumbai
For most Mumbai homes the minimum registered value is calculated simply on area and the applicable ready reckoner rate:
Worked example — a home in Powai
A 1,000 sq ft home in Powai (indicative rate ₹19,000 per sq ft):
Minimum value = 1,000 × ₹19,000 = ₹1,90,00,000
Stamp duty (6%) = ₹11,40,000 · Registration = ₹30,000
Apartments, plots & floor rise
Apartment values apply the locality rate to the flat’s built-up/saleable area; some states add a floor-rise premium for higher floors and depreciation for older buildings. Land and plots are valued on the plot area. Where the notified rate and your negotiated price differ, duty is always charged on the higher figure — so check both before you sign.
Stamp Duty & Registration Charges in Mumbai
Once the value is fixed, stamp duty and registration charges are payable in Maharashtra. Maharashtra stamp duty includes a 1% metro cess / local-body tax; women buyers get a 1% concession. Registration is 1%, capped at ₹30,000.
| Buyer / ownership | Stamp duty | Registration |
|---|---|---|
| Male owner | ~6% | 1% (max ₹30,000) |
| Female owner | ~5% | 1% (max ₹30,000) |
| Joint (male + female) | ~6% | 1% (max ₹30,000) |
How Ready Reckoner Rates Are Determined
Ready Reckoner Rates in Mumbai are notified by the Department of Registration & Stamps (IGR), Government of Maharashtra. In setting them, the government weighs the locality and its infrastructure, prevailing market transaction values, the property type (residential, commercial, land) and the nature and age of construction. The rates are meant to be reviewed periodically so they track the market. Maharashtra revised Ready Reckoner rates for FY2025-26 effective 1 April 2025, with Greater Mumbai up about 3.4%. Where notified rates lag actual prices, a gap opens up between the ready reckoner rate and what properties actually sell for.
How to Check the Ready Reckoner Rate for Your Property
- Identify your locality. Identify whether the property is in Mumbai City or Mumbai Suburban district, and the locality/zone.
- Open the official portal. Open the IGR Maharashtra e-ASR (Annual Statement of Rates) portal.
- Select property type and area. Select the taluka, village/zone and property type to view the Ready Reckoner rate.
- Verify at the Sub-Registrar office. Apply the rate to your carpet/built-up area and verify at the Sub-Registrar office.
Ready Reckoner Rate vs Market Rate in Mumbai
The ready reckoner rate is a floor for registration, not the market price. In most Mumbai localities the actual transaction price runs above the notified rate, so stamp duty is charged on the higher market value; in a few slower pockets the notified rate can exceed a distressed deal price, in which case duty is still charged on the higher notified value and the difference can carry income-tax implications. Maharashtra revised Ready Reckoner rates for FY2025-26 effective 1 April 2025, with Greater Mumbai up about 3.4%. Knowing both numbers before you negotiate is essential.
Impact on Buyers & Sellers
For buyers
Your stamp duty and registration are calculated on the ready reckoner rate value or the sale value, whichever is higher, so factor the notified rate into your total acquisition cost. Where the state offers a women’s concession, registering in a woman’s name can lower the duty.
For sellers
The ready reckoner rate sets a floor for your sale value in the eyes of the tax department. Selling below it can trigger capital-gains computed on the notified value under Section 50C of the Income-tax Act. Price with both the notified rate and current market comparables in view.
Frequently Asked Questions
What is the ready reckoner rate in Mumbai in 2026?
Is the ready reckoner rate the same as a circle rate?
What is the stamp duty in Mumbai?
How is the registered value of a property calculated?
How can I check the ready reckoner rate for my locality?
Is the ready reckoner rate the same as the market rate?
When were Mumbai’s rates last revised?
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