What is ready reckoner rate?
Also called: RR rate, Annual Statement of Rates, ASR, bazar bhav, market value rate Maharashtra
Maharashtra's government-fixed minimum value for land and buildings, published zone by zone by the Inspector General of Registration, is the ready reckoner rate. Stamp duty and registration are calculated on this value or the agreement price, whichever is higher.
Officially it's the Annual Statement of Rates, and the IGR Maharashtra office issues it for every village, municipal ward and zone in the state, normally with effect from 1 April. Mumbai's rates are split by ward and sub-zone, so two buildings on opposite sides of the same road can sit in different zones. The rates are given per square metre, and for flats they're applied to built-up area. The department's own method converts carpet area to built-up area by adding 20%, then applies adjustments for the floor, whether the building has a lift, and the age of the structure in resale deals.
Stamp duty in Mumbai is 6% (5% duty plus 1% metro cess), with a 1% concession when a woman is the buyer, subject to the state's conditions. Registration is 1%, capped at ₹30,000. In Pune, Thane and other municipal areas the duty is typically 7% once local body and metro cess are added. All of these are applied to the market value derived from the reckoner if it's higher than your agreement.
The reckoner also sets the floor for income tax. The Income-tax Act, 2025 kept the old Section 50C logic: if the ready reckoner value exceeds the sale price by more than 10%, the seller's capital gain is worked out on the reckoner value, and the buyer may be taxed on the gap.
In older buildings of the island city, market prices are sometimes close to or even below the reckoner, especially for cessed buildings and flats without lifts. That's where the mismatch hurts sellers most.
A 650 sq ft carpet flat in Thane West is converted to 780 sq ft built-up for valuation. If the zone rate gives a value of ₹92 lakh against an agreement of ₹88 lakh, the 7% stamp duty is paid on ₹92 lakh, which is ₹6.44 lakh.
People check last year's rate. The Annual Statement of Rates can change on 1 April, so a deal registered in April is valued at the new rate even if the agreement was signed in March.
Questions people ask about ready reckoner rate
Where do I find the ready reckoner rate for my building?
Use the Annual Statement of Rates search on the IGR Maharashtra website. Pick the district, taluka and village or zone, then match your survey or CTS number to the right sub-zone.
Does the ready reckoner apply to leave and licence agreements?
No. Stamp duty on a Maharashtra leave and licence agreement is worked out on the rent and deposit for the licence period. Registration of the agreement is still compulsory.