Mumbai ready reckoner rates: every revision since 2015
The ready reckoner is the government's own minimum valuation of your property, and stamp duty is charged on it whenever it beats the price you agreed. Here is what the state has actually done to it — Mumbai City and Mumbai Suburban — one financial year at a time.
Last reviewed 7 September 2026
The record, year by year
The index compounds Mumbai's published averages, base 100 immediately before the 2016-17 revision. It tracks what the government did to the schedule as a whole — it is not the path of any single locality's rate, and individual zones moved a great deal more and less than these averages.
| Financial year | Effective | Mumbai | Maharashtra | Index |
|---|---|---|---|---|
| 2015-16The year the ASR moved from the calendar year to the financial year. No separate Mumbai average was published. | 1 Apr 2015 | — | +14% | — |
| 2016-17Land rates in Greater Mumbai rose 7% on average, and by up to 20% in some pockets. | 1 Apr 2016 | +7% | — | 107.0 |
| 2017-18 | 1 Apr 2017 | +5% | +5.86% | 112.4 |
| 2018-19No revision. Rates carried over from 2017-18. | 1 Apr 2018 | No change | No change | 112.4 |
| 2019-20No revision, for the second year running. | 1 Apr 2019 | No change | No change | 112.4 |
| 2020-21The only cut in the series: Mumbai's rates fell 0.6% even as the state average rose. Announced in September rather than April, six months into the year. | 12 Sept 2020 | −0.6% | +1.74% | 111.7 |
| 2021-22No revision. The September 2020 rates ran on through the pandemic year. | 1 Apr 2021 | No change | No change | 111.7 |
| 2022-23Mumbai was held well below the rest of the state, where municipal corporation areas averaged 8.8%. | 1 Apr 2022 | +2.64% | +5% | 114.6 |
| 2023-24No revision. | 1 Apr 2023 | No change | No change | 114.6 |
| 2024-25No revision, for the second year running. | 1 Apr 2024 | No change | No change | 114.6 |
| 2025-26The first increase after two flat years. Solapur (10.17%), Ulhasnagar (9%) and Thane city (7.72%) rose far harder than Mumbai. | 1 Apr 2025 | +3.39% | +3.89% | 118.5 |
| 2026-27Status quo. The industry had expected 4–5%; rates were frozen instead. | 1 Apr 2026 | No change | No change | 118.5 |
A cut is shown in green because a lower ready reckoner means a lower tax floor for a buyer. Every figure links to the report it was verified against, in Sources below.
What this costs you
Stamp duty is charged on the higher of your agreement value and the ready reckoner valuation. Look your zone's rate up on the official IGR e-ASR portal — it is stated in rupees per square metre — and put it in below.
Enter a carpet area and your zone's ₹/sqm rate to see the valuation and the duty on it.
Finding your own locality's rate
We deliberately do not republish per-zone rates here. They run to thousands of rows a year, they are only authoritative from the source, and an undated ₹/sqm figure copied onto a third-party page is the exact thing that makes this question hard to answer online. Go to the source instead:
- Open the IGR Maharashtra e-ASR portal and pick the year you need — past years stay available, which is what makes an old agreement checkable.
- Choose the district (Mumbai City and Mumbai Suburban), then your taluka and village. The village is the revenue village, not the locality name you would use in conversation — your agreement or property card names it.
- Read the row for your survey or CTS number. You will get separate rates for open land, residential, office, shop and industrial use.
- Take the residential ₹/sqm figure into the calculator above along with your carpet area.
Common questions
- What is the ready reckoner rate in Mumbai?
- There is no single rate. The ready reckoner — formally the Annual Statement of Rates — publishes a separate minimum valuation for every zone and sub-zone in Mumbai City and Mumbai Suburban, and a different one again for each property type: land, residential flat, office, shop and industrial unit. Rates are stated in rupees per square metre of built-up area. You look up your own zone on the IGR Maharashtra e-ASR portal; what this page tracks is how the whole schedule has been revised each year.
- Have Mumbai's ready reckoner rates gone up this year?
- No. For FY 2026-27 the Maharashtra government held rates at their 2025-26 level, against industry expectations of a 4–5% increase. The last increase was 3.39% for Mumbai, effective 1 April 2025.
- How much have Mumbai's ready reckoner rates risen in the last decade?
- Compounding the published Mumbai averages from the 2016-17 revision onward gives about 18.5% in total across eleven years — roughly 1.6% a year, well under inflation over the same period. Six of those years saw no revision at all, and one — 2020-21 — cut Mumbai's rates by 0.6%.
- Is stamp duty charged on the agreement value or the ready reckoner value?
- On whichever is higher. If you agree a price above the ready reckoner valuation, duty is charged on your price. If you agree below it, duty is still charged on the ready reckoner valuation — which is why the rate matters even when it is not the number in your agreement.
- What is the stamp duty rate in Mumbai?
- 6% for most buyers: 5% stamp duty plus the 1% metro cess levied inside Mumbai's municipal limits. A woman buying residential property in her sole name pays 5% in total (4% plus the cess); the concession does not apply where a man is a co-owner, or to commercial property. Registration is 1% of the value, capped at ₹30,000 above ₹30 lakh.
- Why is the ready reckoner value higher than the carpet area price I was quoted?
- Because the two measure different things. RERA made carpet area the number a builder must quote you, but the ASR values built-up area — conventionally carpet area plus 20%. A rate that looks close to your per-square-foot price therefore produces a valuation about a fifth higher before any floor-rise, lift or age adjustment the ASR also applies.
Sources
- Business Standard, 1 January 2015 — 2015-16
- Business Standard, 4 April 2016 — 2016-17
- 99acres, April 2017 — 2017-18
- Business Standard, 1 April 2025 — 2018-19, 2019-20, 2023-24, 2024-25, 2025-26
- Free Press Journal, September 2020 — 2020-21
- Mumbai Live, April 2022 — 2021-22, 2022-23
- IANS, March 2026 — 2026-27
- IGR Maharashtra e-ASR — the per-locality rates themselves
Buying in Mumbai? The same tax floor applies to every under-construction project on the MahaRERA projects map, and you can check a builder's possession-date track record before you commit to one.
General information, not tax or legal advice. The yearly revision percentages are the averages the state announced and reported in the press — each one links to its source above — and an average across a city of very unequal zones is not the change applied to any particular property. The calculator applies the standard 1.2 built-up factor and ignores the floor-rise, lift, age and land-share adjustments the ASR also makes, so treat its output as an estimate. The binding figures are the ones on IGR's e-ASR portal and the assessment your sub-registrar actually makes. FY 2026-27 rates confirmed as of September 2026.