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  • Stamp Duty and Property Registration Charges in Mumbai

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  • Undeniably, the stamp duty and registration charges in Mumbai serve as one of the highest sources of revenue for the Maharashtra Government. Before you read through the current rates, here is a quick introduction to what Stamp Duty and Registration Charges are. Stamp duty is the transactional tax, which plays a key role in the transactions made on a property. It is pretty much similar to what a government collects for sales tax and income tax. However, when a property is considered, the stamp duty is charged on the present agreement value or market value, whichever is high.

    The stamp duty has to be paid fully and on time. Any delay will impose a penalty. Also, make a note that a property document is only valid if the payment for stamp duty has been paid. Also, it acts a good evidence in the courts.

    The stamp duty is levied on both commercial and residential property transactions, even including the leasehold or freehold properties. Since the stamp duties are levied by the states, the amount will vary from one state to the other.

    Current Stamp Duty Rates In Mumbai

    As per the recent updates stated by the Maharashtra Government, the current stamp rate in Mumbai are:

    Gender Stamp Duty Rate
    Female 6.00%
    Male 6.00%
    Male & Female As Joint Owners 6.00%

    Note: The percentage of the stamp duty depends on two crucial factors:

    • A property’s registered price.
    • A property’s ready reckoner rate.

    The rate whichever is higher among the above two is taken into account for the stamp duty.

    Factors That Affect The Stamp Duty

    There are multiple factors that affect the percentage of the stamp duty. These include:

    • The usage of a property – If it is for residential or commercial use.
    • The property type – Whether it is an independent house or a flat, etc.
    • The owner’s age – Concessions if the owner is a senior citizen. However, this is applicable only to a few states and not all.
    • The property location – Whether the property is situated at the suburban, rural, or metropolitan area.
    • The status of a property – If it is new or old.
    • The owner’s gender – A few states also offer concessions or discounts for property owners, who are females.

    How To Pay Stamp Duty?

    Stamp duty can be paid in three ways, which are:

    • Franking: The process involves an agreement, which is usually printed on a paper. The agreement is checked and then submitted to any authorized bank. The documents are then processed via a franking machine.
    • Stamp Paper: This is the traditional way of paying the stamp duty. The agreement details are written in a paper, which the executants sign after validating. After 4 months, it is registered at a sub-registrar office. The process takes a long time. Hence, might not be a convenient method.
    • E-stamp: To overcome the issues with the above two methods, the government implemented the concept of e-stamping. The payment is done online and doesn’t take much time for the process. The transaction is either a NEFT or an RTGS. This advanced method prevents an applicant from submitting any fake/forged stamp papers to the authorities. Moreover, the method saves time and is highly convenient.

    Ready Reckoner Rate

    It is the minimum rate, which the state government informs via a registrar/sub-registrar office for registering all the transactions associated with a property. The ready reckoner rates in Mumbai depend on different factors like:

    • Market Value & Amenities: The ready reckoner rates in Mumbai primarily depend on the current market value of the property and the type of facilities or amenities that are being offered in that area.
    • Location: The location of a property also plays a key role. The state administration of Mumbai has categorized the properties in Mumbai as well as its suburbs to 19 zones or divisions, which are gain sub-categorized into 221 sub-zones with respect to locations. Each zone and sub-zone is classified based on the main railway lines and arterial roads, starting from the west and ending to the east.
    • Property Type: Usually, the state government assigns low ready reckoner rates to the residential properties and high rates to the commercial ones. Also, note that the value of an apartment or a flat differs from an independent house/villa or a plot in the same locality.

    Current Ready Reckoner Rate In Mumbai

    • The residential apartments or flats in Mumbai have a ready reckoner rate ranging between Rs. 42,000 and Rs. 8,61,000 for every sq.mt. This is applicable to 2018 and 2019.
    • The commercial properties (private and public) in Mumbai have a maximum ready reckoner rate of Rs.1,197,500 for every sq.mt. This is applicable to 2018 and 2019.

    The table shown below gives a summary of the current ready reckoner rates in Mumbai:

    Type Of Property Current Ready Reckoner Rate
    Apartments and Flats Rs.42,000 – Rs.8,61,000 per sq.mt.
    Residential land Rs.16,500 – Rs.4,75,500 per sq.mt.
    Office space Rs.55,100 – Rs.1,062,500 per sq.mt.
    Shops Rs.53,700 – Rs.1,197,500 per sq.mt.
    Industrial Lands Rs.42,000 – Rs.8,61,000 per sq.mt.

    Current Ready Reckoner Rate For Flats/Apartments & Residential, Industrial Lands In Mumbai

    Place In Mumbai Flats/Apartments Residential Lands Industrial Lands
    Byculla Rs.82,000 - Rs.469,900 Rs.38,500 - Rs.214,200 Rs.93,400 - Rs.469,900
    Colaba Rs.280,400 - Rs.652,100 Rs.130,400 - Rs.339,000 Rs.280,400 - Rs.652,100
    Fort Rs.182,100 - Rs.592,300 Rs.97,000 - Rs.296,500 Rs.182,100 - Rs.592,300
    Nariman Point Rs.413,700 - Rs.576,300 Rs.192,200 - Rs.308,700 Rs.413,700 - Rs.576,300
    Princess Dock Rs.158,900 - Rs.240,200 Rs.56,400 - Rs.130,600 Rs.158,900 - Rs.240,200
    Mandvi Rs.126,000 - Rs.221,200 Rs.65,700 - Rs.130,600 Rs.126,000 - Rs.221,200
    Marine Drive Rs.164,800 - Rs.445,600 Rs.83,300 - Rs.221,800 Rs.164,800 - Rs.445,600
    Girgaum Chowpatty Rs.165,400 - Rs.450,700 Rs.78,900 - Rs.256,400 Rs.165,400 - Rs.450,700
    Malabar & Cumballa Hills Rs.339,500 - Rs.861,000 Rs.185,700 - Rs.475,400 Rs.339,500 - Rs.861,000
    Tardeo Rs.171,300 - Rs.337,400 Rs.82,600 - Rs.184,700 Rs.171,300 - Rs.337,400
    Mazgaon Rs.69,400 - Rs.217,600 Rs.27,100 - Rs.97,400 Rs.69,300 - Rs.217,600
    Parel Sewri Rs.84,600 - Rs.335,700 Rs.26,200 - Rs.144,50 Rs.97,600 - Rs.335,700
    Lower Parel Rs.178,300 - Rs.523,600 Rs.48,800 - Rs.236,100 Rs.178,300 - Rs.523,600
    Worli Rs.172,500 - Rs.587,800 Rs.77,700 - Rs.318,200 Rs.172,500 - Rs.587,800
    Dadar Rs.71,300 - Rs.222,000 Rs.40,200 - Rs.102,300 Rs.99,800 - Rs.222,000
    Salt Pan Rs.91,600 - Rs.191,900 Rs.46,000 - Rs.85,800 Rs.91,600 - Rs.191,900
    Matunga Rs.142,500 - Rs.252,000 Rs.56,300 - Rs.113,600 Rs.142,500 - Rs.252,000
    Mahim Rs.214,500 - Rs.381,500 Rs.98,600 - Rs.210,500 Rs.214,500 - Rs.381,500
    Dharavi Rs.73,600 - Rs.88,000 Rs.25,000 - Rs.42,900 Rs.73,600 - Rs.88,000
    Sion Rs.127,700 - Rs.233,300 Rs.55,300 - Rs.115,900 Rs.127,700 - Rs.233,300
    Bandra Reclamation Rs.242,600 - Rs.242,600 Rs.148,100 - Rs.148,100 Rs.242,600 - Rs.242,600
    Bandra West Rs.131,700 - Rs.449,600 Rs.74,500 - Rs.299,900 Rs.131,700 - Rs.449,600
    Bandra East Rs.111,400 - Rs.289,900 Rs.57,900 - Rs.169,000 Rs.117,800 - Rs.289,900
    Parigha Creek Rs.89,100 - Rs.171,700 Rs.35,200 - Rs.93,400 Rs.89,100 - Rs.171,700
    BKC & Kalina Rs.129,400 - Rs.344,000 Rs.78,100 - Rs.206,800 Rs.133,900 - Rs.344,000
    Bapnala Rs.91,200 - Rs.91,200 Rs.40,900 - Rs.40,900 Rs.108,500 - Rs.108,500
    Sahar Rs.140,800 - Rs.140,800 Rs.69,600 - Rs.69,600 Rs.140,800 - Rs.140,800
    Brahamanwada Rs.120,000 - Rs.136,700 Rs.65,100 - Rs.71,100 Rs.128,000 - Rs.136,700
    Andheri East Rs.114,000 - Rs.243,600 Rs.58,900 - Rs.142,200 Rs.114,000 - Rs.243,600
    Vile Parle East Rs.93,100 - Rs.215,600 Rs.46,200 - Rs.129,500 Rs.109,500 - Rs.215,600
    Vile Parle West Rs.176,300 - Rs.273,200 Rs.105,600 - Rs.160,500 Rs.176,300 - Rs.273,200
    Juhu Rs.230,700 - Rs.376,600 Rs.136,900 - Rs.227,400 Rs.230,700 - Rs.376,600
    Andheri West Rs.137,500 - Rs.210,100 Rs.70,600 - Rs.136,500 Rs.150,800 - Rs.210,100
    Andheri East - Kurla Road Rs.108,300 - Rs.158,200 Rs.60,000 - Rs.81,700 Rs.108,300 - Rs.158,200
    Andheri East Marol Rs.92,100 - Rs.157,300 Rs.50,200 - Rs.95,100 Rs.92,100 - Rs.157,300
    Parjapur Andheri Rs.85,400 - Rs.85,400 Rs.39,800 - Rs.39,800 Rs.91,100 - Rs.91,100
    Andheri Varivali Rs.144,900 - Rs.173,000 Rs.76,400 - Rs.103,700 Rs.144,900 - Rs.173,000
    Jogeshwari West Rs.88,400 - Rs.196,900 Rs.40,000 - Rs.124,700 Rs.88,400 - Rs.196,900
    Jogeshwari East Rs.115,100 - Rs.210,600 Rs.60,800 - Rs.117,200 Rs.115,100 - Rs.210,600
    Madh Village Rs.58,400 - Rs.58,400 Rs.22,600 - Rs.22,600 Rs.79,900 - Rs.79,900
    Andheri Versova Rs.149,000 - Rs.209,400 Rs.74,700 - Rs.125,600 Rs.149,000 - Rs.209,400
    Andheri Oshiwara Rs.100,600 - Rs.237,100 Rs.52,800 - Rs.147,600 Rs.100,600 - Rs.237,100
    Villages Rs.42,000 - Rs.125,400 Rs.16,500 - Rs.62,700 Rs.42,000 - Rs.125,400
    Goregaon East Rs.51,000 - Rs.220,500 Rs.21,200 - Rs.130,500 Rs.51,000 - Rs.228,600
    Goregaon West Rs.68,700 - Rs.177,500 Rs.26,800 - Rs.114,700 Rs.68,700 - Rs.177,500
    Malad West Rs.98,900 - Rs.170,900 Rs.45,600 - Rs.86,600 Rs.98,900 - Rs.170,900
    Malad East Rs.74,600 - Rs.163,100 Rs.29,500 - Rs.80,500 Rs.74,600 - Rs.163,100
    Dindoshi Rs.93,700 - Rs.170,200 Rs.34,000 - Rs.102,200 Rs.93,700 - Rs.170,200
    Malad West South Rs.99,400 - Rs.158,200 Rs.45,500 - Rs.88,400 Rs.99,400 - Rs.163,800
    Malad West North Rs.70,500 - Rs.128,500 Rs.28,700 - Rs.76,300 Rs.78,200 - Rs.128,500
    Malvani Rs.78,800 - Rs.106,000 Rs.38,600 - Rs.63,400 Rs.78,800 - Rs.106,000
    Wadhvan Rs.64,200 - Rs.130,100 Rs.25,100 - Rs.64,900 Rs.64,200 - Rs.130,100
    Kandivali West Rs.130,800 - Rs.130,800 Rs.73,300 - Rs.73,300 Rs.130,800 - Rs.130,800
    Kandivali East Rs.42,900 - Rs.169,400 Rs.32,400 - Rs.91,900 Rs.131,900 - Rs.169,400
    Borivali West Rs.95,300 - Rs.117,600 Rs.39,400 - Rs.71,300 Rs.95,300 - Rs.117,600
    Borivali East Rs.52,800 - Rs.186,800 Rs.38,800 - Rs.112,100 Rs.114,100 - Rs.186,800

    Current Ready Reckoner Rate For Office Space & Shops In Mumbai

    Place In Mumbai Office Space Shops
    Byculla Rs. 1,04,600 - Rs.530,200 Rs.1,57,000 - Rs.6,36,400
    Colaba Rs.3,08,400 - Rs.795,700 Rs.3,67,700 - Rs.9,24,000
    Fort Rs.2,31,800 - Rs.709,700 Rs.2,60,600 - Rs.8,37,400
    Nariman Point Rs.5,18,000 - Rs.699,100 Rs.6,55,200 - Rs.8,31,300
    Princess Dock Rs.2,05,300 - Rs.276,200 Rs.2,48,900 - Rs.3,83,200
    Mandvi Rs.193,300 - Rs.288,700 Rs.2,32,500 - Rs.3,69,100
    Marine Drive Rs.218,900 - Rs.467,900 Rs.2,88,400 - Rs.5,57,200
    Girgaum Chowpatty Rs.200,700 - Rs.550,900 Rs.2,41,000 - Rs.8,22,600
    Malabar & Cumballa Hills Rs.4,41,600 - Rs.1,062,500 Rs.5,14,400 - Rs.1,197,500
    Tardeo Rs.205,300 - Rs.481,400 Rs.2,56,800 - Rs.5,68,500
    Mazgaon Rs.96,100 - Rs.269,300 Rs.1,09,900 - Rs.3,23,100
    Parel Sewri Rs.1,21,000 - Rs.377,900 Rs.1,51,400 - Rs.4,37,600
    Lower Parel Rs.1,89,400 - Rs.651,200 Rs.2,14,000 - Rs.7,66,100
    Worli Rs.2,13,100 - Rs.596,200 Rs.2,66,900 - Rs.7,01,300
    Dadar Rs.1,04,800 - Rs.250,300 Rs.1,31,100 - Rs.3,31,800
    Salt Pan Rs.1,05,000 - Rs.211,100 Rs.1,57,100 - Rs.2,82,900
    Matunga Rs.1,70,500 - Rs.295,500 Rs.2,13,200 - Rs.4,01,700
    Mahim Rs.2,36,000 - Rs.463,300 Rs.2,57,400 - Rs.6,16,200
    Dharavi Rs.81,000 - Rs.96,800 Rs.98,500 - Rs.1,15,600
    Sion Rs.1,52,800 - Rs.265,400 Rs.1,83,100 - Rs.3,30,800
    Bandra Reclamation Rs.2,78,500 - Rs.278,500 Rs.3,59,300 - Rs.3,59,300
    Bandra West Rs.1,50,900 - Rs.494,600 Rs.1,91,400 - Rs.6,02,300
    Bandra East Rs.1,29,600 - Rs.3,27,400 Rs.1,88,200 - Rs.4,16,500
    Parigha Creek Rs.1,05,600 - Rs.2,90,500 Rs.1,51,400 - Rs.3,02,600
    BKC & Kalina Rs.1,48,200 - Rs.3,79,300 Rs.1,87,700 - Rs.4,55,400
    Bapnala Rs.1,10,900 - Rs.1,10,900 Rs.1,49,400 - Rs.1,49,400
    Sahar Rs.1,54,900 - Rs.1,54,900 Rs.1,73,700 - Rs.1,73,700
    Brahamanwada Rs.1,34,000 - Rs.1,59,200 Rs.1,99,000 - Rs.2,24,600
    Andheri East Rs.1,25,400 - Rs.2,68,000 Rs.1,65,300 - Rs.3,30,900
    Vile Parle East Rs.1,03,600 - Rs.2,79,900 Rs.1,27,900 - Rs.3,51,300
    Vile Parle West Rs.2,39,500 - Rs.3,29,500 Rs.2,90,100 - Rs.4,11,400
    Juhu Rs.2,54,200 - Rs.4,14,800 Rs.3,02,600 - Rs.5,07,300
    Andheri West Rs.1,55,800 - Rs.2,59,900 Rs.2,13,600 - Rs.3,24,900
    Andheri East - Kurla Road Rs.1,42,800 - Rs.1,74,000 Rs.1,72,700 - Rs.2,36,500
    Andheri East Marol Rs.1,10,900 - Rs.1,78,200 Rs.1,39,800 - Rs.3,38,200
    Parjapur Andheri Rs.1,01,700 - Rs.1,01,700 Rs.1,21,500 - Rs.1,21,500
    Andheri Varivali Rs.1,66,100 - Rs.1,90,300 Rs.2,07,300 - Rs.2,50,400
    Jogeshwari West Rs.99,000 - Rs.2,21,300 Rs.1,51,200 - Rs.2,88,500
    Jogeshwari East Rs.132,000 - Rs.2,31,700 Rs.1,50,100 - Rs.2,52,700
    Madh Village Rs.90,400 - Rs.90,400 Rs.1,31,600 - Rs.1,31,600
    Andheri Versova Rs.1,63,900 - Rs.2,60,200 Rs.1,97,100 - Rs.3,25,200
    Andheri Oshiwara Rs.1,21,100 - Rs.2,60,800 Rs.1,66,900 - Rs.3,02,800
    Villages Rs.55,100 - Rs.1,37,900 Rs.66,000 - Rs.1,79,600
    Goregaon East Rs.6,,300 - Rs.2,46,000 Rs.87,600 - Rs.4,02,500
    Goregaon West Rs.81,300 - Rs.2,38,600 Rs.97,400 - Rs.3,17,100
    Malad West Rs.1,18,000 - Rs.2,10,600 Rs.1,38,900 - Rs.2,96,100
    Malad East Rs.98,000 - Rs.1,87,800 Rs.1,26,600 - Rs.2,48,300
    Dindoshi Rs.1,24,600 - Rs.1,99,600 Rs.1,61,400 - Rs.251,700
    Malad West South Rs.1,25,400 - Rs.1,91,400 Rs.157,000 - Rs.257,000
    Malad West North Rs.85,000 - Rs.1,98,000 Rs.1,02,200 - Rs.293,900
    Malvani Rs.90,000 - Rs.1,19,100 Rs.1,03,500 - Rs.137,100
    Wadhvan Rs.80,200 - Rs.1,68,200 Rs.96,200 - Rs.206,600
    Kandivali West Rs.1,63,300 - Rs.163,300 Rs.1,95,800 - Rs.195,800
    Kandivali East Rs.1,48,400 - Rs.186,400 Rs.53,700 - Rs.211,700
    Borivali West Rs.1,14,700 - Rs.144,200 Rs.1,37,700 - Rs.204,800
    Borivali East Rs.1,41,600 - Rs.242,900 Rs.65,800 - Rs.302,100
      

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