The Ready Reckoner Rate is Maharashtra's minimum valuation per square metre for each zone, and stamp duty is charged on the higher of that value and your agreement price. You look it up on igrmaharashtra.gov.in through the eASR tool, and the rates were held unchanged for the 2026-27 financial year.
A buyer agrees to pay ₹45 Lakhs for a flat, then discovers the registration will be on ₹49.5 Lakhs. Nobody lied. The Ready Reckoner Rate for the flat's zone is higher than the price the parties agreed, and the state charges duty on the higher figure.
This guide explains what the Ready Reckoner Rate is, where to find it, how a value is built from the rate, how the 2025-26 revision and the 2026-27 freeze affect you, and how to compare the result with your price before you sign.
Quick answer (2026): The Ready Reckoner Rate (formally the Annual Statement of Rates, or ASR) is on igrmaharashtra.gov.in under the eASR or Ready Reckoner tool. Choose the year, district, taluka and village or urban zone, then the property type. Stamp duty is charged on the higher of your agreement value and the Ready Reckoner value. Rates were unchanged for FY 2026-27 after rising in 2025-26.
- What the Ready Reckoner Rate is
- Where to find it on IGR Maharashtra
- How a value is built from the rate
- What changed in 2025-26 and 2026-27
- Agreement value vs market value
- Step-by-step: from rate to stamp duty
- Worked examples
- Other documents and tax savings
- Documents checklist and common errors
- Frequently asked questions
1. What the Ready Reckoner Rate Is
The Ready Reckoner Rate is the state's notified minimum value for land and built property, set by the Inspector General of Registration and published as the Annual Statement of Rates (ASR). Buyers also call it the RR rate, the circle rate or the guideline value. It is a floor, not a price. The market can sit above it or below it, but the state will not register a deed on a value lower than the benchmark without charging duty on the benchmark.
The legal basis is the Maharashtra Stamp Act, 1958, under which stamp duty is chargeable on the market value of the property, and the rules framed under it treat the ASR as the yardstick. The Registration Act, 1908 governs registration, and the registration fee follows the same value.
A note on search terms. People sometimes search for "mahagst ready reckoner". The MahaGST department handles the state's goods and services tax and does not publish the Ready Reckoner. The source is the Department of Registration and Stamps at igrmaharashtra.gov.in.
2. Where to Find It on IGR Maharashtra
The Ready Reckoner is published by the Department of Registration and Stamps, which runs igrmaharashtra.gov.in. The rate lookup is called eASR (electronic Annual Statement of Rates), and a newer version, eASR 2.0, is reported at igreval.maharashtra.gov.in. Menu names change, so look for the Ready Reckoner, ASR or valuation option under the online services.
The lookup is organised in layers:
| Layer | What you choose |
|---|---|
| Year | The financial year of the rates, for example 2026-27 |
| District | Mumbai City, Mumbai Suburban, Thane, Pune and so on |
| Taluka | The sub-district unit |
| Village or urban zone | A village for rural land, or a zone and sub-zone for a city |
| Survey, CTS or property type | Where the tool asks for it |
For each zone the ASR shows rates for different uses, typically open land, residential, office, shops and industrial, per square metre. Pick the column that matches how your property is actually used.
3. How a Value Is Built From the Rate
The rate is a starting point. The value for your flat or plot is built from it with adjustments.
- Area. The rate is per square metre. Guides differ on whether the area applied is carpet area or built-up area. Valuers' summaries of the 2025-26 guidelines treat built-up area as roughly 1.10 times carpet area, while some guides use 1.2 times. The tool or the Sub-Registrar decides the basis, so enter the areas as your agreement states them and read the result.
- Age of the building. Older buildings are valued at a depreciated rate, by an age factor applied to the construction component.
- Floor, lift and parking. Some valuations adjust for the floor and for features such as a lift or parking.
- Use. Residential, office, shop and industrial uses have separate rates.
- Land. For plots, the rate is applied to the plot area, with the value depending on whether the land is open, agricultural or non-agricultural.
The broad formula for a flat is:
Value = rate per sq m for the zone and use × area in sq m, adjusted for age and floor
Treat any hand calculation as an estimate. The department's tool and the Sub-Registrar's assessment are what count.
4. What Changed in 2025-26 and 2026-27
2025-26. From 1 April 2025 the state raised Ready Reckoner rates, by an average of about 3.9% across Maharashtra. Mumbai's increase was about 3.4%, and several cities saw larger rises, including about 7.7% in Thane and 6.75% in Navi Mumbai, with municipal corporations outside Mumbai averaging about 6%.
2026-27. The state decided to keep the rates unchanged for the financial year beginning 1 April 2026. That covers all districts and corporation areas, including Mumbai, Thane, Navi Mumbai and Pune. A registration at any point in FY 2026-27 is valued on the same rates, so waiting inside the year does not change the benchmark.
The freeze does not stop individual zones being corrected or the state revising rates for 2027-28, so check the year on the lookup.
5. Agreement Value vs Market Value
Stamp duty is charged on the higher of two numbers.
- Agreement value: the price in your agreement or deed.
- Market value: the Ready Reckoner value of the property.
The registration fee, the metro cess and any local body tax follow the same higher value.
If the Ready Reckoner value is higher than your price, duty follows it. If your price is higher, duty follows your price. A discount below the Ready Reckoner value saves you nothing on duty.
6. Step-by-Step: From Rate to Stamp Duty
Step 1: Look up the rate. On igrmaharashtra.gov.in, open the eASR or Ready Reckoner tool and select the current year, district, taluka and village or zone.
Step 2: Pick the right use column. Residential, office, shop, industrial or land.
Step 3: Compute the value. Apply the rate to the area, adjusting for age and floor, or use the department's valuation tool.
Step 4: Compare with your agreement value. Take the higher.
Step 5: Apply the rate for your city and buyer category. For example, 6% in Mumbai (5% for a woman in sole name) or 7% in Pune and Thane (6%). Add the registration fee of 1%, capped at ₹30,000 above ₹30 Lakhs.
Step 6: Pay through GRAS at gras.mahakosh.gov.in and keep the challan.
Before you pay: Run the Ready Reckoner value and your agreement value through the StampDutyCalc.in calculator. Enter both, and let the tool take the higher. The result shows you the cost before the Sub-Registrar does.
7. Worked Examples
The Ready Reckoner rates below are hypothetical and used only to show the mechanics. Look up your own zone. The examples assume a Mumbai flat, a male buyer (6% including the metro cess) and the ₹30,000 registration cap.
Example A: ₹45 Lakh agreement, Ready Reckoner value higher
Assume a hypothetical residential rate of ₹1,10,000 per sq m and a flat of 45 sq m. Ready Reckoner value = ₹1,10,000 × 45 = ₹49,50,000.
| Item | On agreement value | On Ready Reckoner value (applied) |
|---|---|---|
| Value used | ₹45,00,000 | ₹49,50,000 |
| Stamp duty (6%) | ₹2,70,000 | ₹2,97,000 |
| Registration fee (cap) | ₹30,000 | ₹30,000 |
| Total | ₹3,00,000 | ₹3,27,000 |
The Ready Reckoner value governs, and the extra cost is ₹27,000.
Example B: ₹1.2 Crore agreement, price higher
Assume a hypothetical rate of ₹2,40,000 per sq m and the same 45 sq m. Ready Reckoner value = ₹2,40,000 × 45 = ₹1,08,00,000.
| Item | On Ready Reckoner value | On agreement value (applied) |
|---|---|---|
| Value used | ₹1,08,00,000 | ₹1,20,00,000 |
| Stamp duty (6%) | ₹6,48,000 | ₹7,20,000 |
| Registration fee (cap) | ₹30,000 | ₹30,000 |
| Total | ₹6,78,000 | ₹7,50,000 |
The price is higher than the Ready Reckoner value, so duty follows the price.
Example C: The same price in a city with a local body tax
A ₹45 Lakh Pune flat where the Ready Reckoner value is ₹49.5 Lakhs, male buyer, 7%:
| Item | Amount |
|---|---|
| Value used | ₹49,50,000 |
| Stamp duty (7%) | ₹3,46,500 |
| Registration fee (cap) | ₹30,000 |
| Total | ₹3,76,500 |
Compared with duty on the price alone (₹3,45,000), the higher value costs ₹31,500 more.
8. Other Documents and Tax Savings
This is a brief outline. Separate guides cover each deed.
- Gift deed. A gift of residential or agricultural property to a spouse, child, grandchild or a deceased son's widow is reported at a flat ₹200 under Article 34. Other gifts attract a percentage of the market value, which is where the Ready Reckoner matters.
- Power of attorney. A PoA authorising sale of immovable property is taxed at the conveyance rate on market value under Article 48, so the Ready Reckoner value matters here too. A PoA without consideration to close relatives is reported at ₹500.
- Leave and license. Duty is 0.25% of the rent for the period plus a notional amount for the refundable deposit. The Ready Reckoner does not apply.
Tax savings. Stamp duty and registration charges on a residential purchase qualify within the ₹1.5 Lakh limit in the year of payment, under the old tax regime. For payments up to 31 March 2026 the section is 80C of the Income-tax Act, 1961. From 1 April 2026 it is Section 123 of the Income-tax Act, 2025.
9. Documents Checklist and Common Errors
For the Sub-Registrar appointment
- PAN and Aadhaar of buyer and seller; NRI documents where relevant
- Agreement for sale or sale deed, and previous title documents
- Valuation printout showing the Ready Reckoner value
- Society NOC and share certificate for resale flats
- For new flats: RERA number and occupancy documents
- GRAS challan or e-SBTR
- TDS proof where the consideration is ₹50 Lakhs or more (Form 26QB; confirm current form references under the Income-tax Act, 2025)
- Two witnesses with ID and photographs
Common errors
- Using a Ready Reckoner figure from a previous financial year.
- Choosing the wrong use column, for example the residential rate for a shop.
- Applying super built-up area instead of the area the valuation needs.
- Forgetting the age depreciation for an older building.
- Assuming a price below the Ready Reckoner value lowers the duty.
- Reading the zone from a locality name instead of the survey or CTS number.
- Searching the GST department's site for the rate.
10. Frequently Asked Questions
What is the Ready Reckoner Rate in Maharashtra?
It is the state's minimum valuation per square metre for each zone and property type, published as the Annual Statement of Rates. Stamp duty is charged on the higher of this value and your agreement price.
How do I check the Ready Reckoner rate on IGR Maharashtra?
Open igrmaharashtra.gov.in, go to the Ready Reckoner or eASR tool, select the year, district, taluka and village or zone, and then the property use. The tool shows the rate per square metre.
Did the Ready Reckoner rate increase in 2026-27?
No. The state decided to keep rates unchanged for FY 2026-27, after the April 2025 increase.
Is stamp duty on agreement value or market value?
On whichever is higher. If the Ready Reckoner value exceeds your price, duty and the registration fee follow the Ready Reckoner value.
Is the Ready Reckoner calculated on carpet area or built-up area?
Sources differ. Valuers' summaries treat built-up area as about 1.10 times carpet area, and some guides use 1.2 times. Enter the areas as your agreement states them and read the department's result.
Does MahaGST publish the Ready Reckoner?
No. The Department of Registration and Stamps publishes it at igrmaharashtra.gov.in.
Disclaimer: This article is for general information and is not legal or tax advice. Ready Reckoner rates and valuation rules are set by the Government of Maharashtra and can change by notification. Confirm your figures on the IGR Maharashtra portal, or with an advocate or the Sub-Registrar's office, before paying.