What are the current circle rates in Mumbai?

2 min read

Circle rates in Mumbai, also known as Ready Reckoner rates, are the government-specified minimum property values used to calculate taxes and registration charges. These rates serve as a benchmark for property transactions, ensuring fair pricing and revenue transparency. Set by the state government, circle rates vary significantly across Mumbai’s localities, reflecting the diverse real estate market of the city. From luxury apartments in South Mumbai to emerging hubs in the suburbs, these rates play a critical role in determining stamp duty and registration charges. For property buyers and sellers, understanding circle rates is essential for making informed decisions. Additionally, circle rates impact property valuations used in loan approvals, such as loans against property. Staying updated with the latest rates helps individuals navigate Mumbai's dynamic real estate landscape, ensuring compliance with legal requirements and avoiding financial discrepancies during property transactions.

The circle rate or ready reckoner rate for the different areas in Mumbai are as follows.

Current Circle Rates in Mumbai 2025

Localities

Flats/Apartments

Residential Land

Industrial Land

Byculla

₹82,000 – ₹469,900

₹38,500 – ₹214,200

₹93,400 – ₹469,900

Colaba

₹280,400 – ₹652,100

₹130,400 – ₹339,000

₹280,400 – ₹652,100

Fort

₹182,100 – ₹592,300

₹97,000 – ₹296,500

₹182,100 – ₹592,300

Nariman Point

₹413,700 – ₹576,300

₹192,200 – ₹308,700

₹413,700 – ₹576,300

Princess Dock

₹158,900 – ₹240,200

₹56,400 – ₹130,600

₹158,900 – ₹240,200

Mandvi

₹126,000 – ₹221,200

₹65,700 – ₹130,600

₹126,000 – ₹221,200

Marine Drive

₹164,800 – ₹445,600

₹83,300 – ₹221,800

₹164,800 – ₹445,600

Girgaum Chowpatty

₹165,400 – ₹450,700

₹78,900 – ₹256,400

₹165,400 – ₹450,700

Malabar & Cumballa Hills

₹339,500 – ₹861,000

₹185,700 – ₹475,400

₹339,500 – ₹861,000

Tardeo

₹171,300 – ₹337,400

₹82,600 – ₹184,700

₹171,300 – ₹337,400

Mazgaon

₹69,400 – ₹217,600

₹27,100 – ₹97,400

₹69,300 – ₹217,600

Parel Sewri

₹84,600 – ₹335,700

₹26,200 – ₹144,500

₹97,600 – ₹335,700

Lower Parel

₹178,300 – ₹523,600

₹48,800 – ₹236,100

₹178,300 – ₹523,600

Worli

₹172,500 – ₹587,800

₹77,700 – ₹318,200

₹172,500 – ₹587,800

Dadmetre

₹71,300 – ₹222,000

₹40,200 – ₹102,300

₹99,800 – ₹222,000

Salt Pan

₹91,600 – ₹191,900

₹46,000 – ₹85,800

₹91,600 – ₹191,900

Matunga

₹142,500 – ₹252,000

₹56,300 – ₹113,600

₹142,500 – ₹252,000

Mahim

₹214,500 – ₹381,500

₹98,600 – ₹210,500

₹214,500 – ₹381,500

Dharavi

₹73,600 – ₹88,000

₹25,000 – ₹42,900

₹73,600 – ₹88,000

Sion

₹127,700 – ₹233,300

₹55,300 – ₹115,900

₹127,700 – ₹233,300

Bandra Reclamation

₹242,600

₹148,100

₹242,600

Bandra West

₹131,700 – ₹449,600

₹74,500 – ₹299,900

₹131,700 – ₹449,600

Bandra East

₹111,400 – ₹289,900

₹57,900 – ₹169,000

₹117,800 – ₹289,900

Parigha Creek

₹89,100 – ₹171,700

₹35,200 – ₹93,400

₹89,100 – ₹171,700

BKC & Kalina

₹129,400 – ₹344,000

₹78,100 – ₹206,800

₹133,900 – ₹344,000

Bapnala

₹91,200

₹40,900

₹108,500

Sahar

₹140,800

₹69,600

₹140,800

Brahamanwada

₹120,000 – ₹136,700

₹65,100 – ₹71,100

₹128,000 – ₹136,700

Andheri East

₹114,000 – ₹243,600

₹58,900 – ₹142,200

₹114,000 – ₹243,600

Vile Parle East

₹93,100 – ₹215,600

₹46,200 – ₹129,500

₹109,500 – ₹215,600

Vile Parle West

₹176,300 – ₹273,200

₹105,600 – ₹160,500

₹176,300 – ₹273,200

Juhu

₹230,700 – ₹376,600

₹136,900 – ₹227,400

₹230,700 – ₹376,600

Andheri West

₹137,500 – ₹210,100

₹70,600 – ₹136,500

₹150,800 – ₹210,100

Andheri East – Kurla Road

₹108,300 – ₹158,200

₹60,000 – ₹81,700

₹108,300 – ₹158,200

Andheri East Marol

₹92,100 – ₹157,300

₹50,200 – ₹95,100

₹92,100 – ₹157,300

Parjapur Andheri

₹85,400

₹39,800

₹91,100

Andheri Varivali

₹144,900 – ₹173,000

₹76,400 – ₹103,700

₹144,900 – ₹173,000

Jogeshwari West

₹88,400 – ₹196,900

₹40,000 – ₹124,700

₹88,400 – ₹196,900

Jogeshwari East

₹115,100 – ₹210,600

₹60,800 – ₹117,200

₹115,100 – ₹210,600

Madh Village

₹58,400

₹22,600

₹79,900

Andheri Versova

₹149,000 – ₹209,400

₹74,700 – ₹125,600

₹149,000 – ₹209,400

Andheri Oshiwara

₹100,600 – ₹237,100

₹52,800 – ₹147,600

₹100,600 – ₹237,100

Villages

₹42,000 – ₹125,400

₹16,500 – ₹62,700

₹42,000 – ₹125,400

Goregaon East

₹51,000 – ₹220,500

₹21,200 – ₹130,500

₹51,000 – ₹228,600

Goregaon West

₹68,700 – ₹177,500

₹26,800 – ₹114,700

₹68,700 – ₹177,500

Malad West

₹98,900 – ₹170,900

₹45,600 – ₹86,600

₹98,900 – ₹170,900

Malad East

₹74,600 – ₹163,100

₹29,500 – ₹80,500

₹74,600 – ₹163,100

Dindoshi

₹93,700 – ₹170,200

₹34,000 – ₹102,200

₹93,700 – ₹170,200

Malad West South

₹99,400 – ₹158,200

₹45,500 – ₹88,400

₹99,400 – ₹163,800

Malad West North

₹70,500 – ₹128,500

₹28,700 – ₹76,300

₹78,200 – ₹128,500

Malvani

₹78,800 – ₹106,000

₹38,600 – ₹63,400

₹78,800 – ₹106,000

Wadhvan

₹64,200 – ₹130,100

₹25,100 – ₹64,900

₹64,200 – ₹130,100

Kandivali West

₹130,800

₹73,300

₹130,800

Kandivali East

₹42,900 – ₹169,400

₹32,400 – ₹91,900

₹131,900 – ₹169,400

Borivali West

₹95,300 – ₹117,600

₹39,400 – ₹71,300

₹95,300 – ₹117,600

Borivali East

₹52,800 – ₹186,800

₹38,800 – ₹112,100

₹114,100 – ₹186,800

RR rate changes in Mumbai: Updated 2025

City

Revised Rate

Thane

9.48%

Navi Mumbai

8.90%

Panvel

9.24%

Pune

6.12%

Pimpri Chinchwad

12.36%

Nasik

12.15%

Mumbai

-0.60%

Raigad

3%

Rural Area

1.74%

Municipal Corporation Areas

1.02%

Municipal Council Areas

1.29%

What is a circle rate?

Circle rate or ready reckoner rate is the minimum rate that the government notifies for transactions related to sale or purchase, resulting in property registration. The ready reckoner rate in Mumbai is fixed by the Stamps and Registration Department of the city. During property valuation, the rate is compared with the declared transaction value of a property, the higher of which is considered for stamp duty calculation and payment.

With Mumbai’s robust property valuation influenced by circle rates, your real estate can be the key to unlocking affordable financing. A loan against property provides competitive interest rates and flexible repayment options, allowing you to achieve your goals without selling your asset. Whether it is expanding your business or funding your child's education, our loan against property can help without parting with your asset. Get loan of up to Rs. 10.50 crore against your property within 72 hours* of the approval.

What does the circle rate in Mumbai depend upon?

Ready reckoner rates in Mumbai vary for different areas based on two primary considerations:

  • The current market value of the area
  • Available amenities and other facilities in the area

Based on this, 19 zones are divided into 221 sub-zones in Mumbai. Further, other factors also affect circle rate in Mumbai. These are:

  • Property occupancy, i.e., residential, or commercial
  • Type of property, i.e., apartment, flat, independent house, or plot

Additionally, a property’s open parking and stilt parking are also considered for value assessment and payment of stamp duty during sale/ purchase. Similar evaluations are undertaken when mortgaging it for a loan against property.

Did you know that properties in prime areas like Bandra or Andheri can fetch significant loans? With their high circle rates, you can secure the funding you need without compromising ownership. Whether it is for your child’s education or medical emergencies, a loan against property can offer the perfect solution. Get a loan of up to Rs. 10.50 crore with the option of interest-only EMIs during the initial tenure. Your asset is your gateway to opportunities!

Parking slot valuation in Mumbai

The valuations of parking slots to determine the circle rate in Mumbai are as follows.

  • Open parking: Parking slot area x 40% of the area’s circle rate
  • Covered/ stilt parking: Parking slot area x 25% of circle rate per unit area of the property

Additionally, pricing for flats or apartments also depends on floor rise, attracting a premium for advancing floors. The applicable premiums are listed below.

Floor-wise premium for flats in Mumbai

Following are the floor-wise premium:

  • Nil for flats up to 4th floor
  • 5% for flats between 5th and 10th floors
  • 10% for flats between 11th and 20th floors
  • 15% for flats from 21st to 30th floors
  • 20% for flats above the 31st floor

Note that floor-wise premium will be a consideration in property valuation, be it for sale/ purchase or for availing of a property loan.

Current stamp duty in Mumbai

Stamp duty value is the higher of the value assessed as per the ready reckoner rate and declared agreement value. The prevailing stamp duty rates in Mumbai are as follows.

  • 6% for females
  • 6% for males
  • 6% for joint ownership of male and female

Registry charges in Mumbai

Registration charges for property transactions are levied over and above the stamp duty valuation. The registry charges in Mumbai are 1% of the property’s value or Rs. 30,000, whichever is the lesser of the two.

How to calculate property value in Mumbai using circle rate for stamp duty payment?

To calculate property value using the circle rate in Mumbai, follow these steps.

  1. Determine the property’s built-up area, which is considered as the higher of actual built-up area and 1.2 x carpet area of the flat.
  2. Choose the property type like flat, plot, house, builder floor, etc.
  3. Note the area or locality of the property as classified by the government.
  4. Compute minimum assessment value based on ready reckoner rate in Mumbai for:
  • House construction on the plot: Plot Area (in sq. metres) x circle rate for flats in the area (in Rs./sq. metres) X 1.25
  • Residential flats and apartments: Calculate a sum of the following:
  1. Flat’s built-up area (in sq. meters) x applicable circle rate (in Rs./sq. meter) x 1 + premium on floor rise
  2. Open parking slot valuation (As per formula mentioned above)
  3. Covered/ stilted parking slot valuation (As per formula mentioned above)

Areas in Mumbai

Circle rate in Mumbai is notified for the following areas and localities in the city.
 

Andheri East

Andheri Oshiwara

Parigha Creek

Bandra Reclamation

Byculla

Malad West

Fort

Jogeshwari East

Mahim

Andheri East Marol

Andheri Versova

Princess Dock

Bapnala

Brahamanwada

Mandvi

Goregaon East

Jogeshwari West

Malad East

Andheri Varivali

Bandra East

Parjapur Andheri

Borivali (East)

Colaba

Matunga

Girgaum Chowpatty

Lower Parel

Villages

Andheri West

Bandra West

Sahar

BKC and Kalina

Dharavi

Marine Drive

Goregaon West

Kandivali East

Vile Parle East

Andheri East Kurla Road

Mazgaon

Vile Parle West

Borivali (West)

Dadar

Sion

Juhu

Madh Village

Wadhvan

Malabar and Cumballa Hills

Parel Sewri

Worli

Dindoshi

Nariman Point

Salt Pan

Kandivali West

Malvani

Tardeo

Mumbai’s detailed circle rates ensure accurate property valuation, making it easier to secure a substantial loan against your property. Whether you own an apartment, flat, or commercial space, this financial tool can cater to diverse requirements, from weddings to working capital. Get access to large funds with the flexibility to part-prepay your Flexi Loan at no extra cost. Your property is a resource—utilise it wisely!

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Factors that affect the circle rate in Mumbai

  1. Locality and infrastructure
    Proximity to essential amenities like schools, hospitals, and transport hubs significantly raises the circle rate.
  2. Property type
    Rates differ for residential, commercial, and industrial properties, with commercial areas generally having higher values.
  3. Market demand and supply
    High demand in specific neighbourhoods drives up circle rates, whereas lower demand can lead to stagnation or minimal growth.
  4. Development projects
    Upcoming metro lines, road expansions, and urban development projects in an area can lead to higher rates.
  5. Economic trends
    Inflation, interest rates, and overall economic conditions influence property valuation and circle rates.
  6. Government policies
    Policy changes, such as tax benefits or stamp duty waivers, may affect property transactions and circle rates.
  7. Historical value trends
    Areas with consistent price appreciation often see regular updates in their circle rates.

Frequenty Asked Questions

How do you calculate land prices in Mumbai?

Land prices in Mumbai are calculated by multiplying the circle rate per square meter with the total area, considering applicable floor premiums and additional charges.

Can the property be purchased below the circle rate in Mumbai?

No, properties cannot legally be registered below the circle rate, as it is the government-mandated minimum benchmark for property valuation and taxation purposes.

How do I find the circle rates in my area?

Circle rates can be found on the official website of the Maharashtra government’s Stamp Duty and Registration Department or by visiting the local sub-registrar office.

How to check the circle rate in Maharashtra?

Visit Maharashtra’s IGR (Inspector General of Registration) website, select your district and locality, and input property details to access the current circle rates.

How does the circle rate affect stamp duty and registration charges in Mumbai?

Stamp duty and registration charges are calculated based on the higher of the property’s transaction value or the circle rate, impacting overall costs.

What is the impact of circle rate changes on property buyers in Mumbai?

Increased circle rates raise stamp duty and registration costs, while decreases can make property transactions more affordable and encourage market activity.