Average Ready Reckoner rate for a flat in Mumbai City
₹23,656 per sq ft
₹2,54,628 per sq m
- Range by locality
- ₹9,825 – ₹66,363
- Localities
- 20
- Zones
- 387
- Applicable from
- 1 Apr 2025
Ready Reckoner rate per sq ft in Mumbai City by property type
Residential (flats)
₹9,825 – ₹66,363per sq ft
Median ₹23,656
20 localities
Open land / plots
₹3,145 – ₹31,215per sq ft
Median ₹9,741
20 localities
Shops
₹12,281 – ₹86,085per sq ft
Median ₹33,730
20 localities
Offices
₹11,299 – ₹76,307per sq ft
Median ₹29,804
20 localities
Industrial
₹9,825 – ₹66,354per sq ft
Median ₹23,656
20 localities
Ready Reckoner rate per sq ft in every Mumbai City area
Each figure is the average (median) rate in ₹ per sq ft across the locality’s zones. Type to filter, or tap a column heading to sort.
20 localities
| Compare | |||||||
|---|---|---|---|---|---|---|---|
| Malabar and Cumballa Hill | 27 | ₹66,363 | ₹31,215 | ₹86,085 | ₹76,307 | ₹66,354 | |
| Pedder Road | 3 | ₹66,354 | ₹30,838 | ₹82,943 | ₹76,307 | ₹66,354 | |
| Colaba | 14 | ₹42,445 | ₹19,626 | ₹55,081 | ₹48,973 | ₹42,445 | |
| Marine Drive | 3 | ₹39,724 | ₹19,800 | ₹77,230 | ₹45,682 | ₹39,724 | |
| Worli | 12 | ₹36,024 | ₹16,850 | ₹51,569 | ₹42,179 | ₹36,024 | |
| Lower Parel | 53 | ₹30,285 | ₹12,302 | ₹38,713 | ₹34,828 | ₹30,285 | |
| Fort | 40 | ₹30,008 | ₹14,751 | ₹44,557 | ₹35,543 | ₹30,008 | |
| Mahim | 18 | ₹28,697 | ₹12,693 | ₹35,985 | ₹33,002 | ₹28,697 | |
| Tardeo | 15 | ₹25,534 | ₹9,467 | ₹35,266 | ₹32,117 | ₹26,256 | |
| Matunga | 12 | ₹24,850 | ₹9,950 | ₹32,194 | ₹28,577 | ₹24,850 | |
| Sion | 5 | ₹22,461 | ₹9,532 | ₹29,149 | ₹25,830 | ₹22,461 | |
| Girgaon | 18 | ₹22,198 | ₹10,673 | ₹36,009 | ₹31,030 | ₹22,198 | |
| Parel Sewri | 35 | ₹21,073 | ₹8,618 | ₹26,682 | ₹24,235 | ₹21,073 | |
| Dadar Naigaon | 24 | ₹19,642 | ₹8,622 | ₹27,425 | ₹22,706 | ₹19,642 | |
| Byculla | 23 | ₹18,297 | ₹8,661 | ₹22,871 | ₹21,042 | ₹18,297 | |
| Bhuleshwar | 32 | ₹17,804 | ₹8,347 | ₹28,972 | ₹23,625 | ₹17,804 | |
| Mazgaon | 28 | ₹15,382 | ₹6,578 | ₹20,946 | ₹19,006 | ₹15,706 | |
| Mandvi | 8 | ₹15,248 | ₹7,298 | ₹26,078 | ₹20,550 | ₹15,520 | |
| Wadala Salt Pan | 11 | ₹12,172 | ₹5,066 | ₹15,215 | ₹13,998 | ₹12,172 | |
| Dharavi | 6 | ₹9,825 | ₹3,145 | ₹12,281 | ₹11,299 | ₹9,825 |
No locality matches. Try the village name from your 7/12 or property card, or pick "All" above.
Highest and lowest Ready Reckoner rates in Mumbai City
Malabar and Cumballa Hill has the highest residential Ready Reckoner rate in Mumbai City, at ₹66,363 per sq ft. Dharavi has the lowest, at ₹9,825 per sq ft. These are average (median) rates for flats across each locality’s zones.
Highest residential rates
- 1Malabar and Cumballa Hill₹66,363/sq ft
- 2Pedder Road₹66,354/sq ft
- 3Colaba₹42,445/sq ft
- 4Marine Drive₹39,724/sq ft
- 5Worli₹36,024/sq ft
Lowest residential rates
- 1Dharavi₹9,825/sq ft
- 2Wadala Salt Pan₹12,172/sq ft
- 3Mandvi₹15,248/sq ft
- 4Mazgaon₹15,382/sq ft
- 5Bhuleshwar₹17,804/sq ft
Things to know about Mumbai City Ready Reckoner rates
- Zone range: Zone by zone, flat rates run from ₹5,803 per sq ft in Mazgaon to ₹80,926 per sq ft in Malabar and Cumballa Hill.
- Rates vary inside a locality: In Byculla, flats range from ₹8,463 to ₹44,724 per sq ft depending on the zone. Always use your own zone’s rate, not the locality’s average figure.
How to find Ready Reckoner rate for your property in Mumbai City
- Find your CTS or survey number. It is on your property card, and your sale agreement and Index II also show it. Mumbai City has 387 Ready Reckoner zones, each described by roads, landmarks and boundaries.
- Open your locality. Mumbai City has 20 localities on CircleRate, grouped as South Mumbai (11) and Central Mumbai (9). Pick a region in the locality list above, or type the name in the search box, for example “Malabar and Cumballa Hill”, “Pedder Road” and “Colaba”.
- Find your zone. On the locality page, match your address to a zone description. For example, Malabar and Cumballa Hill zone 7/59 is described as “Netaji Subhashchandra Bose Road (Tanbe Chowk to Pandita Ramabai Road)”.
- Read the rate for your property type. In Malabar and Cumballa Hill zone 7/59, the Ready Reckoner rate is ₹32,114 per sq ft (₹3,45,670 per sq m) for a flat, ₹17,188 per sq ft (₹1,85,010 per sq m) for open land and ₹47,789 per sq ft (₹5,14,400 per sq m) for a shop. So a 1,000 sq ft flat there has a Ready Reckoner value of ₹3,21,14,000 (₹3.21 crore). Flat rates apply to built-up area.
Still not sure which zone applies? The Sub-Registrar office for your area can confirm the zone it will use. Our guide to checking Ready Reckoner rate explains zones and CTS numbers with examples.
Mumbai City Ready Reckoner rate for shops, offices and commercial property
Buying a shop on a busy road or an office for your business in Mumbai City? Commercial property has its own Ready Reckoner rate in every zone, separate from the rate for flats, and it is usually higher. On average, a shop here is valued at ₹33,730 per sq ft, and the highest shop rates are in Malabar and Cumballa Hill.
Areas with the highest shop rates in Mumbai City
- 1 Malabar and Cumballa Hill ₹86,085Office ₹76,307
- 2 Pedder Road ₹82,943Office ₹76,307
- 3 Marine Drive ₹77,230Office ₹45,682
- 4 Colaba ₹55,081Office ₹48,973
- 5 Worli ₹51,569Office ₹42,179
- 6 Fort ₹44,557Office ₹35,543
Shop rate per sq ft, the average across each area's zones. Your exact zone can be higher or lower.
Before you buy a commercial property in Mumbai City
- Go by how the unit is used, not the building. A shop on the ground floor of a housing society still takes the shop rate, and an office on an upper floor takes the office rate.
- The 1% lower stamp duty for women in Maharashtra is only for homes, so it does not apply to a shop or office.
- Parking, a mezzanine floor or a shop that does not face the road can be valued differently. Our guide to the circle rate for shops and offices explains these cases.
Stamp duty in Mumbai City, with a 1,000 sq ft example
Stamp duty in Mumbai City (BMC limits) is 6%: 5% duty plus 1% metro cess. A woman buying a home alone, or only with other women, pays 5%. Registration is 1%, capped at ₹30,000.
Duty is charged on the higher of your agreement value and the Ready Reckoner value of the property. Our guide to stamp duty and registration charges in Maharashtra covers the women buyer benefit and other costs.
Worked example: a 1,000 sq ft flat in Mumbai City
Take the average flat rate across Mumbai City district, ₹23,656 per sq ft of built-up area.
| Ready Reckoner value | ₹23,656 × 1,000 sq ft = ₹2,36,56,000 (₹2.37 crore) |
|---|---|
| Stamp duty at 6% | ₹14,19,360 (₹11,82,800 for a woman buying alone, at 5%) |
| Registration fee | ₹30,000 (1% registration fee, capped at ₹30,000) |
| Total | ₹14,49,360 |
If your agreed price is higher than ₹2,36,56,000, stamp duty and registration are charged on the price instead. Upper floors in lift buildings and older buildings can change the value under the ASR guidelines.
Calculate stamp duty for your Mumbai City property
Mumbai City Ready Reckoner rate FAQs
What is Ready Reckoner rate in Mumbai City per sq ft?
For a flat, the average across Mumbai City district is ₹23,656 per sq ft (₹2,54,628 per sq m). But the exact rate depends on your zone, and zones here go from ₹5,803 to ₹80,926 per sq ft. Open your locality to see the rate for your zone. The government publishes the rate per sq m; we have converted it to sq ft for you.
How do I calculate Ready Reckoner value of my flat in Mumbai City?
Multiply your zone’s Ready Reckoner rate by your flat’s area. A 1,000 sq ft flat in a zone rated ₹23,656 per sq ft has a Ready Reckoner value of ₹2.37 crore. Use the same unit for both: the per sq ft rate with sq ft, or the per sq m rate with sq m. Use the built-up area, not the carpet area.
Has Ready Reckoner rate in Mumbai City changed for 2026-27?
No. Maharashtra kept the 2026-27 Ready Reckoner rates the same as last year, so Mumbai City is still on the rates that came in on 1 April 2025. That year, rates went up by about 3.39% in Mumbai on average.
Is stamp duty in Mumbai City charged on Ready Reckoner value or the sale price?
On whichever is higher. If you pay more than Ready Reckoner value, duty is charged on your price. If you pay less, it is charged on Ready Reckoner value. For a 1,000 sq ft flat with a Ready Reckoner value of ₹2.37 crore, stamp duty at 6%, the rate within BMC limits, comes to at least ₹14 lakh.
Can I register a property in Mumbai City below Ready Reckoner rate?
Yes, you can. But you will still pay stamp duty on Ready Reckoner value, not on your lower price. The Sub-Registrar may also send the deed to the Collector to check the value, under section 32A of the Maharashtra Stamp Act. Sellers should also note that if Ready Reckoner value is more than 110% of the sale price, Ready Reckoner value is taken as the sale price for capital gains tax (section 50C, now section 78 of the Income-tax Act, 2025).
Is Ready Reckoner rate in Mumbai City for carpet area or built-up area?
Built-up area, not carpet. If your agreement only mentions carpet area, it is converted using a factor of 1.1 or 1.2, depending on the area and year. So a flat with 900 sq ft of carpet area counts as roughly 990 to 1,080 sq ft built-up. At Mumbai City’s average ₹23,656 per sq ft, that comes to about ₹2.3–2.6 crore.
Ready Reckoner rates in districts near Mumbai City
Source: Annual Statement of Rates (Ready Reckoner) 2026-27 for Mumbai City, Department of Registration and Stamps, Government of Maharashtra. igrmaharashtra.gov.in