What are the current circle rates in Mumbai?
The circle rate in Mumbai is notified for 19 specified zones. The rates are fixed based on the current market value and are an essential consideration during the sale, purchase, or mortgage of a property. In Mumbai, the circle rates for offices and shops differ from the rates assigned to apartments and flats. The rates for both types are over Rs 42,000/sq. m.
The circle rate or ready reckoner rate for the different areas in Mumbai are as follows.
Current Circle Rates in Mumbai 2023
Areas in Mumbai |
Circle rates for offices/ shops (in Rs/sq. metres) |
Circle rates for apartments and flats (in Rs/sq. metres) |
Andheri East |
1,25,000 - 2,68,000/1,65,000 - 3,31,000 |
1,14,000 - 2,44,000 |
Andheri East Marol |
1,11,000 - 1,78,000/1,40,000 - 3,38,000 |
92,100 - 1,57,000 |
Andheri Varivali |
1,66,000 - 1,90,000/2,07,000 - 2,50,000 |
1,45,000 - 1,73,000 |
Andheri West |
1,56,000 - 2,60,000/ 2,14,000 - 3,25,000 |
1,38,000 - 2,10,000 |
Andheri East Kurla Road |
1,43,000 - 1,74,000/1,73,000 - 2,37,000 |
1,08,000 - 1,58,000 |
Andheri Oshiwara |
1,21,000 - 2,61,000/1,67,000 - 3,03,000 |
1,01,000 - 2,37,000 |
Andheri Versova |
1,64,000 - 2,60,000/1,97,000 - 3,25,000 |
1,49,000 - 2,09,000 |
Bandra East |
1,30,000 - 3,27,000/1,88,000 - 4,17,000 |
1,11,000 - 2,90,000 |
Bandra West |
1,51,000 - 4,95,000/1,91,000 - 6,02,000 |
1,32,000 - 4,50,000 |
Bandra Reclamation |
2,79,000/3,59,000 |
2,43,000 |
Bapnala |
1,11,000/1,49,000 |
91,200 |
Borivali (East) |
1,42,000 - 2,43,000/65,800 - 3,02,000 |
52,800 - 1,18,000 |
BKC and Kalina |
1,48,000 - 3,79,000/1,88,000 - 4,55,000 |
1,29,000 - 3,44,000 |
Borivali (West) |
1,15,000 - 1,44,000/1,38,000 - 2,05,000 |
95,300 - 1,18,000 |
Byculla |
1,05,000 - 5,30,000/1,57,000 - 6,36,000 |
82,000 - 4,70,000 |
Brahamanwada |
1,34,000 - 1,59,000/1,99,000 - 2,25,000 |
1,20,000 - 1,37,000 |
Colaba |
3,08,000 - 7,96,000/3,68,000 - 9,24,000 |
2,80,000 - 6,52,000 |
Dharavi |
81,000 - 96,800/98,500 - 1,16,000 |
73,600 - 88,000 |
Dadar |
1,05,000 - 2,50,000/1,31,000 - 3,32,000 |
71,300 - 2,22,000 |
Dindoshi |
1,25,000 - 2,00,000/1,61,000 - 2,52,000 |
93,700 - 1,70,000 |
Fort |
2,32,000 - 7,10,000/2,61,000 - 8,37,000 |
1,82,000 - 5,92,000 |
Goregaon East |
63,300 - 2,46,000/87,600 - 4,03,000 |
51,000 - 2,21,000 |
Girgaum Chowpatty |
2,01,000 - 5,51,000/2,41,000 - 8,23,000 |
1,65,000 - 4,541,00 |
Goregaon West |
81,300 - 2,39,000/97,400 - 3,17,000 |
68,700 - 1,77,000 |
Juhu |
2,54,000 - 4,15,000/3,03,000 - 5,07,000 |
2,31,000 - 3,77,000 |
Jogeshwari East |
1,32,000 - 2,32,000/1,50,000 - 2,53,000 |
1,15,000 - 2,11,000 |
Lower Parel |
1,89,000 - 6,51,000/2,14,000 - 7,66,000 |
1,78,000 - 5,24,000 |
Kandivali East |
1,48,000 - 1,86,000/53,700 - 2,12,000 |
42,900 - 1,69,000 |
Madh Village |
90,400/1,32,000 |
58,400 |
Kandivali West |
1,63,000/1,96,000 |
1,31,000 |
Malabar and Cumballa Hills |
4,42,000 - 10,62,000/5,14,000 - 11,97,000 |
3,40,000 - 8,61,000 |
Mahim |
2,36,000 - 4,63,000/2,57,000 - 6,16,000 |
2,15,000 - 3,81,000 |
Malad East |
98,000 - 1,88,000/1,27,000 - 2,48,000 |
74,600 - 1,63,000 |
Malvani |
90,000 - 1,19,000/1,03,000 - 1,37,000 |
78,800 - 1,06,000 |
Malad West |
1,18,000 - 2,11,000/1,39,000 - 2,96,000 |
98,900 - 1,71,000 |
Mandvi |
1,93,000 - 2,89,000/2,33,000 - 3,69,000 |
1,26,000 - 2,21,000 |
Matunga |
1,71,000 - 2,96,000/2,13,000 - 4,02,000 |
1,43,000 - 2,52,000 |
Marine Drive |
2,19,000 - 4,68,000/2,88,000 - 5,57,000 |
1,65,000 - 4,46,000 |
Mazgaon |
96,100 - 2,69,000/1,10,000 - 3,23,000 |
69,400 - 2,18,000 |
Parel Sewri |
1,21,000 - 3,78,000/1,51,000 - 4,38,000 |
84,600 - 3,36,000 |
Nariman Point |
5,18,000 - 6,99,000/6,55,000 - 8,31,000 |
4,14,000 - 5,76,000 |
Parigha Creek |
1,06,000 - 2,90,000/1,51,000 - 3,03,000 |
89,100 - 1,72,000 |
Princess Dock |
2,05,000 - 2,76,000/2,49,000 - 3,83,000 |
1,59,000 - 2,40,000 |
Parjapur Andheri |
1,02,000/1,22,00085,400 |
85,400 |
Sahar |
1,55,000/1,74,000 |
1,41,000 |
Sion |
1,53,000 - 2,65,000/1,83,000 - 3,31,000 |
1,28,000 - 2,33,000 |
Salt Pan |
1,05,000 - 2,11,000/1,57,000 - 2,83,000 |
91,600 - 1,92,000 |
Tardeo |
2,05,000 - 4,81,000/2,57,000 - 5,68,000 |
1,71,000 - 3,37,000 |
Villages |
55,100 - 1,38,000/66,000 - 1,80,000 |
42,000 - 1,25,000 |
Vile Parle West |
2,40,000 - 3,29,000/2,90,000 - 4,11,000 |
1,76,000 - 2,73,000 |
Worli |
2,13,000 - 5,96,000/2,67,000 - 7,01,000 |
1,73,000 - 5,88,000 |
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.
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.
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 |
