What are the current circle rates in Mumbai?
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.
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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.
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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.
- 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.
- Choose the property type like flat, plot, house, builder floor, etc.
- Note the area or locality of the property as classified by the government.
- 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:
- Flat’s built-up area (in sq. meters) x applicable circle rate (in Rs./sq. meter) x 1 + premium on floor rise
- Open parking slot valuation (As per formula mentioned above)
- 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 |
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Factors that affect the circle rate in Mumbai
- Locality and infrastructure
Proximity to essential amenities like schools, hospitals, and transport hubs significantly raises the circle rate. - Property type
Rates differ for residential, commercial, and industrial properties, with commercial areas generally having higher values. - Market demand and supply
High demand in specific neighbourhoods drives up circle rates, whereas lower demand can lead to stagnation or minimal growth.
- Development projects
Upcoming metro lines, road expansions, and urban development projects in an area can lead to higher rates. - Economic trends
Inflation, interest rates, and overall economic conditions influence property valuation and circle rates.
- Government policies
Policy changes, such as tax benefits or stamp duty waivers, may affect property transactions and circle rates.
- Historical value trends
Areas with consistent price appreciation often see regular updates in their circle rates.
Frequenty Asked Questions
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.
No, properties cannot legally be registered below the circle rate, as it is the government-mandated minimum benchmark for property valuation and taxation purposes.
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.
Visit Maharashtra’s IGR (Inspector General of Registration) website, select your district and locality, and input property details to access the current circle rates.
Stamp duty and registration charges are calculated based on the higher of the property’s transaction value or the circle rate, impacting overall costs.
Increased circle rates raise stamp duty and registration costs, while decreases can make property transactions more affordable and encourage market activity.