Mumbai News: What Are Ready Reckoner Rates, And How Can Mumbaikars Benefit From Them? Explained

Mumbai: The government of Maharashtra has increased ready reckoner (RR) rates for 2025-26, resulting in an average hike of 3.89% across the state. Mumbai will see a 3.39% rise, while Thane and Solapur will experience steeper increases. Developers are concerned about rising costs potentially affecting the affordable housing segment and overall real estate market.

What Are Ready Recknor Rates?

The ready reckoner rate, often called circle rate or guidance value, signifies the lowest valuation established by the state government for properties within a specific region. It acts as a standard for determining different taxes, charges, and fees associated with property transactions, such as stamp duty and registration fees.

Maharashtra Government Increases RR Rates

The government of Maharashtra has increased ready reckoner (RR) rates, which determine property valuations for stamp duty and taxation, for the financial year 2025-26 across the state after keeping it unchanged for the last two years. Mumbai will witness an average 3.39% hike, while the average hike across the state is 3.89%.

Municipal corporation areas across the state, except Mumbai, will witness an average increase of 5.95%, while municipal councils and nagar panchayats will see a 4.97% hike. Urban areas will see a 3.29% rise, and rural regions will witness an average increase of 3.36%, the state government said in a statement.

The impact is particularly significant in cities like Navi Mumbai with a 6.75% increase, Thane with 7.72%, Nashik with 7.31%, and Solapur with a 10.17% increase, where the hikes are steeper. Developers and investors are concerned about rising costs, as construction expenses and premiums may put pressure on the market.

According to reports, ready reckoner revised at an average 5-7% across the state will drive up the property cost and hurt the affordable housing segment. He urged policymakers to adopt a balanced approach to sustain growth momentum while ensuring housing affordability in the real estate market.

With Mumbai's property prices already at premium levels, the revised RR rates could make home ownership more expensive. Experts predict that developers may pass on the additional burden to buyers, further driving up costs in Maharashtra’s key real estate markets.

Benefits For Mumbai Residents

In a significant development for property buyers and investors, the Maharashtra government has announced an increase in Ready Reckoner Rates (RRR) for the financial year 2025-26. Effective from April 1, 2025, the new rates, which determine property valuations for stamp duty and taxation, will see an average statewide rise of 3.89%.

Mumbai, the state’s commercial hub, will experience a 3.4% increase, slightly below the state average. Industry experts caution that this revision may elevate property prices, thereby increasing the costs of homeownership and real estate investment, as builders are likely to transfer these additional expenses to buyers.

The last adjustment in RRR occurred in 2022-23, and although predictions hinted at potential hikes of up to 10%, the actual increases vary across regions, with notable jumps in places like Thane (7.72%), Solapur (10.17%), and Navi Mumbai (6.75%).

While municipal corporations outside Mumbai recorded an overall average RRR hike of 5.95%, rural areas saw a 3.7% increase. Consequently, prospective buyers should prepare for heightened costs linked to stamp duty and registration purchases due to these revised rates.