Mumbai's Ready Reckoner Rates to Rise 5-10% Starting April 1

The first hike in three years is driving a rush to finalize property transactions and is expected to strain an already sluggish real estate market.

The Mumbai Metropolitan Region (MMR) will see a 5-10% increase in Ready Reckoner (RR) rates starting April 1, 2025, impacting property valuations and transaction costs.
The hike follows a survey of all zones and districts and comes after three years without revisions to RR rates.
Developers and homebuyers are rushing to finalize transactions before the hike takes effect, with stamp duty registration offices seeing heightened activity.
Real estate experts warn that the hike will further stress the market, which is already grappling with oversupply, redevelopment challenges, and an economic slowdown.
The government aims to achieve a ₹60,000 crore revenue target for 2025-26, building on its ₹55,102 crore collection in 2024-25.