Ready Reckoner Rate Mumbai 2026-27: Area-Wise Rates, Tax and Redevelopment

Mumbai's ready reckoner rates for 2026-27 are unchanged from 2025-26. The state froze the Annual Statement of Rates from 1 April 2026, so the April 2025 revision, an average 3.39% rise across BMC limits, still applies. Residential rates run from under Rs 1 lakh per sq m in parts of Borivali to above Rs 7 lakh per sq m in Colaba and Malabar Hill.

Key takeaways

• Mumbai's 3.39% rise in April 2025 was the second-smallest among Maharashtra's municipal corporations, after Nanded; officials cited limited land supply and a stable market. The rest of the state averaged 4.39%.
• Rates are listed by zone and sub-zone in two revenue districts, Mumbai City (the island city) and Mumbai Suburban, per square metre of built-up area.
• Stamp duty in BMC limits is 6% for men and 5% for women (both including 1% metro cess), on the RR value or the agreement value, whichever is higher.
• The same rates feed BMC's capital-value property tax. When the tax base was re-linked to newer RR values in 2025, bills rose 15.89% on average without any change in tax rates.
• In redevelopment, the land rate in the ASR prices the premium a developer pays for extra FSI, which shapes what a society can negotiate.

Mumbai's rates in 2026-27: the freeze and what came before

The ready reckoner is the government's minimum value for a property; our explainer on guideline value and ready reckoner rates covers how it works in general. In Mumbai, two dates matter.

• 1 April 2025: the first revision after two frozen years, with BMC areas up 3.39% on average. Before the announcement there had been talk of 10-15% rises; Revenue Minister Chandrashekhar Bawankule dismissed those rumours in the state council on 12 March.
• 31 March 2026: the IGR announced that the 2025-26 rates would continue through 2026-27, with only technical corrections such as new survey numbers and approved plan changes.

Island city versus suburbs: sample rates

The island city, from Colaba to Mahim and Sion, carries the highest rates in the state. The suburbs, from Bandra to Dahisar and Mulund, are lower but vary widely. The ranges below are residential flat rates for 2025-26 (still in force), as reported by portals that reproduce the ASR.

Two cautions. First, portals do not always agree: one lists Dr Annie Besant Road in Worli at Rs 4,11,000 per sq m, another at Rs 4,51,690. Second, the RR is well below what flats list for. Andheri West listings average roughly Rs 37,700 to Rs 41,500 per sq ft in 2026 across portals, and Borivali West about Rs 30,650, against top RR rates of about Rs 22,600 and Rs 13,700. One portal that tracks registrations puts actual Andheri West deals nearer Rs 32,000 per sq ft, still well above the RR. For how the wider market is moving, see our Mumbai real estate market report.

Turning a Mumbai rate into a flat's value

Greater Mumbai has its own ASR guidelines, separate from the rest of Maharashtra. Three adjustments come up in almost every flat purchase.

Built-up, not carpet

The rate applies to built-up area. When a document shows both, the valuation uses the higher of the stated built-up area and 1.2 times the carpet area. A 50 sq m carpet flat is therefore valued on at least 60 sq m.

Floor loading

Upper floors of lift buildings carry a percentage addition to the base rate. The commonly quoted bands are the base rate up to the 4th floor, plus 5% for the 5th to 10th, plus 10% for the 11th to 20th, and plus 20% above the 30th. Sources differ on the bands, so check the current Mumbai guideline on the IGR site.

Use

Office and shop rates are separate columns, usually well above the residential rate on commercial streets, so a flat used as an office is valued on the office column.

Worked example: a 12th-floor flat in Andheri

Suppose a flat with 50 sq m carpet area sits on the 12th floor of a lift building in an Andheri sub-zone rated at Rs 1,50,000 per sq m, inside the reported band.

• Built-up area for valuation: 50 × 1.2 = 60 sq m.
• Base RR value: 60 × 1,50,000 = Rs 90,00,000.
• Floor loading at 10% for the 11th to 20th floor: 90,00,000 × 1.10 = Rs 99,00,000.

At a market price of Rs 1.80 crore the agreement value is higher, so a male buyer pays 6% = Rs 10,80,000 stamp duty plus Rs 30,000 registration: Rs 11,10,000 in all. A woman buying alone pays 5% = Rs 9,00,000 plus Rs 30,000.

At a hurried resale of Rs 95 lakh the RR value of Rs 99 lakh governs the duty: 6% = Rs 5,94,000. Because 99 ÷ 95 = 1.042, the gap is inside the 10% tolerance in the Income-tax Act, 2025 (section 78 for the seller, old section 50C; section 92(2)(m) for the buyer, old section 56(2)(x)), so both are taxed on the real price.

The full stamp duty picture, including the women's concession rules and GRAS payment, is in our guide to stamp duty in Maharashtra.

How the RR drives your BMC property tax

Mumbai taxes residential property on capital value, and the ready reckoner is the base value in that formula. BMC multiplies the RR-derived base value by the carpet area and by weights for the type of building, its age, the floor and the use, then applies the tax rate. So an RR revision moves your tax bill even if BMC changes nothing else.

That is what happened in 2025. BMC said it had not raised tax rates, but under section 154(1)(c) of the Mumbai Municipal Corporation Act, 1888 it must revise capital values every five years. The 2020 revision was deferred during the pandemic, so the base jumped a decade at once, and bills went up 15.89% on average. Homes of up to 500 sq ft remained exempt from the general tax. How the bill is built, and how to challenge it, is covered in our post on property tax in Mumbai.

The RR in society redevelopment

Most Mumbai redevelopment runs under the Development Control and Promotion Regulations (DCPR) 2034, and several of its premiums are priced off the ASR's land rate. The fungible compensatory area, typically up to 35% over the permissible FSI, is charged at 50% of the ASR land rate under regulation 30(A)(6). For office use the fungible premium was cut from 80% to 60% of the ASR.

That gives a society a quick way to test a developer's offer. If a plot's ASR land rate is Rs 1,00,000 per sq m, every 100 sq m of fungible area costs the developer 100 × 50% × 1,00,000 = Rs 50 lakh in premium. That premium is a real cost the developer must recover from sale flats,, and it scales with the land rate, so the same FSI costs far more in Worli than in Borivali.

For members, the Bombay High Court has held that once the development agreement is stamped, a permanent alternate accommodation agreement for the rebuilt flat attracts no more than Rs 100 in duty, even when it includes free additional area. Any extra area a member buys from the developer is stamped at normal rates on the higher of price and RR value.

Where the ready reckoner works against you

• Old buildings in expensive zones. A 1970s flat in a sub-zone with a high rate can be valued close to what a buyer will actually pay once repairs are priced in. If the deal is more than 10% below the RR value, both sides face income-tax adjustments.
• Undervaluation referrals. A sub-registrar who believes the value is understated can refer the document to the Collector under section 32A of the Maharashtra Stamp Act.
• Tax bills that follow the RR. Because the property tax base is linked to the ASR, a future RR increase can raise your annual outgo even if you never sell.
• Inconsistent third-party tables. Print the IGR's own entry for your CTS number.

Frequently asked questions

What is the ready reckoner rate in Mumbai for 2026-27?

It is the same as 2025-26. The state froze rates from 1 April 2026, so the April 2025 figures apply, after an average 3.39% rise in BMC areas. Residential rates range from roughly Rs 95,000 per sq m in parts of Borivali West to over Rs 7 lakh per sq m in Colaba. Your exact rate depends on the sub-zone and CTS number.

Is the Mumbai ready reckoner rate applied on carpet area?

No. Mumbai's ASR guidelines apply the rate to built-up area. Where the documents show carpet area, the valuation uses the higher of the stated built-up area and 1.2 times the carpet area. A 500 sq ft carpet flat is therefore valued on at least 600 sq ft, before floor loading is added for upper floors of lift buildings.

Why did my BMC property tax go up if tax rates did not change?

Because the tax is a percentage of capital value, and capital value is built on the ready reckoner. BMC must revise capital values every five years; the 2020 revision was delayed by the pandemic, so the 2025 update caught up a decade of RR increases. Bills rose 15.89% on average, although the tax rates themselves were unchanged.

Do society members pay stamp duty on the new flat after redevelopment?

Only nominally for the area replacing their old flat. The Bombay High Court has held that once the development agreement is stamped, the permanent alternate accommodation agreement attracts no more than Rs 100, even with free extra area. Area a member buys from the developer on top is stamped at normal rates.

How much higher is the market price than the ready reckoner in Mumbai suburbs?

Usually well above it. In 2026 portals put Andheri West listings near Rs 37,700 to Rs 41,500 per sq ft and Borivali West near Rs 30,650, while the top residential RR rates in those areas work out to about Rs 22,600 and Rs 13,700 per sq ft. That is why most Mumbai buyers pay duty on the agreement value.

If you would like help reading an ASR entry or pricing a flat against it, Realty Hunting's advisors can go through the numbers with you.