Rates vary wildly across the city. A "Category A" neighborhood like Nariman Point will have significantly higher RR rates than rural parts of Maharashtra.
Total Valuation = Ready Reckoner Rate (per sq m) x Carpet Area (sq m)
: Spans from Colaba up to Mahim and Sion.
This paper summarizes the Mumbai Ready Reckoner for assessment year 2001–02: its structure, key components (area-wise circle rates for residential, commercial, industrial land/building; age and usage adjustments; floor-rise/additions; common exemptions), typical methods for applying the rates to compute stamp duty and registration values, and practical considerations when using historical ready reckoners (indexing, legal changes, data validation).
The represents one of the most critical historical benchmarks in the Indian real estate and taxation landscape. Published annually by the Department of Registration & Stamps - Government of Maharashtra , the Annual Statement of Rates (ASR)—commonly known as the Ready Reckoner (RR) rate—defines the minimum regulatory value at which a property can be registered or transferred within a given locality.
The 2001-02 rate is just the baseline. A final valuation for that period often considers:
Buildings older than 10 years in 2001 typically receive a depreciation discount (e.g., 20% for buildings 11-20 years old).
Under the Income Tax Act, if a property was acquired before April 1, 2001, the taxpayer can opt for the FMV as of this date as their cost of acquisition. Pagdi/Tenancy Adjustments: Pagdi units