How to Calculate Maharashtra Ready Reckoner Rate (2025–2026)

We all must have noticed that markets follow a simple rule - each product offered to the customer comes with a fixed minimum price that the buyer will have to pay under any circumstances. Sure, the cost of the product can go up depending on the external conditions, but it cannot go below the set limit in any case. The real estate market follows the same principle, and that's where the ready reckoner rate comes into the picture.

It directly affects the whole concept of stamp duty and registration charges collected by the government. The ready reckoner rate in Maharashtra also follows the same conditions. With the change in geographical region and the intent of the project, ready reckoner rates keep changing. To learn more about Maharashtra's ready reckoner rate, continue reading. Each year, an ASR (Annual Statement Rate or Ready Reckoner Rate) is set, and it is made applicable for the period from 1st April to 30th March of the fiscal year.

Ready Reckoner Rate in Maharashtra 2025: A Quick Info

The Ready Reckoner Rate (RRR) in Maharashtra for 2025 has been revised by an average of 3.9%, marking the first increase in two years. Here is the quick of ready reckoner rate in Maharashtra: 

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What is a Ready Reckoner Rate?

Also commonly termed as the circle rate, the ready reckoner rate is a fixed minimum amount set by the state governments for commercial, residential, or plotting properties. The state government notifies this value to the city's respective registrar or sub-registrar office to register the property transactions accordingly. Once the ready reckoner rate is decided, the person looking to purchase property must pay this decided amount; there is no way to make a lower payment than this.

Why is the Ready Reckoner Rate an Important Concept?

Apart from the location influence, production details, and property classification into commercial, residential, or plotting categories, the ready reckoner rate is an essential aspect in determining the final cost of any construction project. For every transaction between the homebuyer and the developer in the real estate market, the state government earns money by imposing a particular stamp duty and registration charges. An increase in the ready reckoner rate means that the stamp duty and construction charges ramp up as well. The ready reckoner rate is needed to maintain a financial balance in the real estate market and give prospective homebuyers an idea about the money required to buy property in a specific location.

Maharashtra Ready Reckoner Rate

Maharashtra's real estate industry is known for its ever-increasing demand and exorbitant prices over the years. As India's financial capital is Mumbai, Maharashtra enjoys some of the costliest properties in the country. With the increasing number of people migrating to Mumbai, Pune, and nearby areas, the demand for real estate has skyrocketed in the state, thus allowing developers to work on multiple new projects that are sure to be profitable.

COVID-19 resulted in the halt of various construction projects and led to an increase in unsold inventory. To support the realty sector during this downturn, the Maharashtra state government had decided to waive stamp duty on the ready reckoner rate by 3% in August 2020 from September to December and 2% from January to March 2021. This led to increased property registrations, and developers were hopeful that IGR Maharashtra's ready reckoner rates could fall.

The Maharashtra government has announced a revision in the Ready Reckoner Rates (RRR) for the financial year 2025–26, effective from April 1, 2025. This marks the first adjustment in two years, with an average statewide increase of 3.89%. The revision aims to align property valuations with current market conditions and is expected to impact stamp duty calculations and overall property prices across the state.

Ready Reckoner Rate in Various Cities of Maharashtra

For the financial year 2025–26, the state has implemented a revised structure of RRRs effective from April 1, 2025, with an average statewide hike of 3.89%. These rates vary significantly across cities and localities in Maharashtra. 

Pune Ready Reckoner Rate 2025-2026

One of the most important cities of Maharashtra, Pune, along with its suburbs, is divided into 19 zones. These zones are further divided into 221 sub-zones - the ready reckoner rate in Pune changes with the location of the property and the availability of basic amenities. Generally, Maharashtra's ready reckoner rate for residential properties is lower than that for commercial properties. It is also dependent on the type of property like flats/apartments, independent houses, or a plot. 

On April 2021, the state government announced that Pune would not be allowed to extend the 2% stamp duty waiver. However, a 1% stamp duty waiver was introduced on March 8, 2021, for women-women transactions on residential properties. It was not applicable to plots and male co-owners. Women buyers are also not allowed to resell the property to any male buyer within the next 15 years. They would be responsible for paying 1% stamp duty, interest on it, and a penalty.

Stamp duty in Pune is based on a certain percentage of the higher declared agreement value and assessed value mentioned in the ready reckoner rate chart. Registration charges are additionally levied over the stamp duty to balance the cost incurred by running registration offices. 

While calculating the stamp duty, stilt and open parking is a factor that affects the assessed value. If a parking lot is attached to an apartment, its value is computed as - 

Stilt/Covered Parking: (Area of parking lot) X (25% of the ready reckoner rate per unit area for the property)

Open Parking: (Area of parking lot) X (40% of the ready reckoner rate of developed land in that area)

Ready Reckoner Rate Mumbai 2025-2026

The financial capital of India, Mumbai, is divided into 19 zones and 221 subzones based on numerous factors like major arterial roads and railway lines, western express highway, harbour line, marine drive, etc. 

Similarly, the Maharashtra government and the Mumbai registrar's office also impose a premium on the ready reckoner rate for high-rise apartment floors. However, the premium stays the same as that of Pune.

Valuation for stilt/closed and open parking lot for computation of assessed value for stamp duty also remains the same as that of Pune.

Stamp duty rates in Mumbai are

How To Calculate Ready Reckoner Rate (2025-2026)?

The steps to be followed are - 

• Compute the built-up area of the property and check different factors like floors, amenities, age of construction, plot area, and more. Between the value of - the actual built-up area mentioned in the property documents and 1.2 times the carpet area of the floor, the built-up area is considered the one with a higher value. 
• In the list of all property types, including flat, house, shop, commercial unit, etc., choose the one applicable.
• Select the location of the area from the list mentioned on the registrar's office website.
• Calculate the minimum assessed value according to the current ready reckoner rate as below:

Residential Apartments

For builder flats and resale apartments in group housing societies, the sum of:

• Built-up area of the property in square meters multiplied by applicable ready reckoner rate for flats in ₹ per square meter ×(1 + floor rise)
• Number of open car parking slots ×40% of the ready reckoner rate of developed land in that zone
• Number of covered car parking slots × 25% of the ready reckoner rate per unit area applicable for the property

House Constructed on Plot

Sum of: Area of plot in square meters multiplied by applicable ready reckoner rate for flats in that area in ₹per square meter, multiplied by 1.25.

Annual Statement Rates (ASR), or the Ready Reckoner, are the immovable property fare rates based on which the market value is calculated. Stamp duty is charged as per Schedule I of the Maharashtra Stamp Act on the type of instrument and amount mentioned in it, whichever is higher under the article. The Collector of Stamps and Registration Department collects stamp duty on the document.

The Annual Statement Rate is set by the state government on an annual basis and varies by locality in a state, such as Urban Area, Influence Area, and Rural Area. ASR rates are established by local authorities such as the Municipal Corporation, Municipal Council, Cantonment Board, Nagar Panchayat, and Gram Panchayat in jurisdictions administered by them.

Premium charged on the Ready Reckoner Rate in Maharashtra

The state government sets the Annual Statement Rate on an annual basis and varies by locality in a state, such as Urban Area, Influence Area, and Rural Area. ASR rates are established by local authorities such as the Municipal Corporation, Municipal Council, Cantonment Board, Nagar Panchayat, and Gram Panchayat in jurisdictions administered by them.

EASR rates in Pune, EASR rates in Nagpur and IGR Maharashtra ready reckoner are easily accessible and pocket-friendly.

Recent Updates on Ready Reckoner Rate in Maharashtra

The Maharashtra government has announced an average increase of 3.39% in Ready Reckoner Rates (RRR) for the financial year 2025–26, effective from April 1, 2025. 

The hike varies across regions, with Solapur witnessing the highest increase at 10.17%, followed by Pimpri-Chinchwad at 6.7%, and Pune Municipal Corporation areas at 4.2%. In contrast, Mumbai saw a more modest rise of 3.4%. 

Real estate experts suggest that this increase may lead to higher property transaction costs, potentially affecting homebuyers and developers. However, the government maintains that the revision is necessary to reflect the true market value of properties and to boost revenue from property registrations, which reached ₹57,422 crore in the previous fiscal year, surpassing the target of ₹55,000 crore.

Source: Hindustan Times

Ready Reckoner Rate in Relation to Real Estate Purchasing Power

You might have noticed that the property price for each area is variable. For example, 10 Acres in a rural location might seem affordable to you. Still, the idea of purchasing a similar-sized property in a metropolitan city like Mumbai or Delhi will have any average citizen running for the hills. Depending on the location, connectivity to cities, and availability of all basic facilities, the property price of an area can keep changing. To ensure a balance in the real estate market, the state government sets a minimum value of a property below which the transaction can't occur. This value is called the ready reckoner rate. Maharashtra's ready reckoner rate increased in September 2020. Since it’s a great time to buy property, why not start your house search on NoBroker! You can save lakhs on brokerage and get the house of your dreams at the best price! Click the link below to start your home search. Need any help with the Maharashtra Ready Reckoner Rate Click below.

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