Kurla is a bustling neighbourhood in east Mumbai, part of the Mumbai suburban district. It is divided into Kurla (East) and Kurla (West), separated by the Central Railway line. The locality is a popular residential and commercial destination comprising a mix of residential colonies, big and small industrial estates, and commercial enclaves. When investing in a property, it is essential to be aware of the prevailing property rates to make an informed decision. The ready reckoner rates in a city or a locality are decided by the state government and periodically revised based on market trends.
See also: Circle rates in Vashi, Navi Mumbai 2023
What are ready reckoner rates?
Ready reckoner rates or ready reckoner rates in Mumbai refer to the property rates fixed by the Maharashtra government for a specific locality. During property registration, a buyer has to pay stamp duty and registration charges based on ready reckoner rates or market rates at which the transaction took place, whichever value is higher.
Ready reckoner rates are decided after taking into account several factors, such as:
- Location: Ready reckoner rates in Kurla may be higher than in other localities. Generally, the rates are higher for expensive neighbourhoods.
- Property usage: Ready reckoner rates vary based on the usage of the property. These may be lower for residential properties compared to commercial properties.
- Amenities: The presence of infrastructure and other amenities in a locality impacts the property values in a neighbourhood.
- Property age: The ready reckoner rates will vary depending on the age of the structure.
Ready reckoner rates for Kurla Mumbai
Village: Kurla 1
| Subdivision | Open land (Rs per square metre) | Residential flats (Rs per sqm) | Office (Rs per sqm) | Shop (Rs per sqm) | Industrial (Rs per sqm) |
| 105/504 -Land: Village boundary on north, partially village boundary on east and Lal Bahadur Shastri Marg, village boundary on south and west | 31,120 | 77,540 | 89,170 | 96,000 | 77,540 |
| 105/505 -Land: North and west by Lal Bahadur Shastri Marg, east and south by village boundary | 30,780 | 81,890 | 94,170 | 1,02,360 | 81,890 |
| 105/506-Road: Lal Bahadur Shastri Marg to Saki Naka to Kurla Andheri Marg | 37,330 | 82,300 | 94,700 | 1,12,100 | 82,300 |
| 105/507-Road: Lal Bahadur Shastri Marg | 30,240 | 76,310 | 87,750 | 1,00,100 | 76,310 |
| 105/508 – Road: Connecting Kurla Station to Lal Bahadur Shastri Marg. | 43,800 | 91,180 | 1,04,860 | 1,15,300 | 91,180 |
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Village: Kurla 2
| Subdivision | Open land (Rs per square metre) | Residential flats (Rs per sqm) | Office (Rs per sqm) | Shop (Rs per sqm) | Industrial (Rs per sqm) |
| 106/509 -Land: All land north of Lal Bahadur Shastri Marg | 31,690 | 91,800 | 1,05,560 | 1,14,750 | 91,800 |
| 106/510 -Land: All land south of Lal Bahadur Shastri Marg | 33,100 | 86,170 | 1,20,100 | 1,40,200 | 88,060 |
| 106/511-Road: Lal Bahadur Shastri Marg | 67,540 | 1,28,420 | 1,47,680 | 1,60,520 | 1,28,420 |
| 106/512 – Road: Connecting Kurla Station to Lal Bahadur Shastri Marg S.Go. Many ways | 35,920 | 77,300 | 87,400 | 1,41,200 | 77,300 |
| 106/511 A-Floor: Lal Bahadur Shastri Marg Cts no. 124(Part) Income in Phoenix Market City | 0 | 0 | 1,72,800 | 2,15,800 | 0 |
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Village: Kurla 3
| Subdivision | Open land (Rs per square metre) | Residential flats (Rs per sqm) | Office (Rs per sqm) | Shop (Rs per sqm) | Industrial (Rs per sqm) |
| 107/513 – Land: Land excluding the area of ​​Mulidar Section No.513 A on the north side of S.Go.Barve Marg | 31,050 | 69,280 | 79,670 | 86,600 | 69,280 |
| 107/514 -Land: All the land of the village on the south side of S.Go. Barve Marg | 49,960 | 1,25,170 | 1,43,940 | 1,78,000 | 1,25,170 |
| 107/515-Floor: Connecting Kurla Railway Station (east) to Expressway. Many ways | 55,810 | 1,13,870 | 1,34,900 | 1,68,900 | 1,13,870 |
| 107/513 A-Plot – Portion of Railway Colony in Mulyadar Division No. 107/513 on the north, Remainder of Mulyadar Division No. 107/513 on the south, Chembur Village Boundary on the east, Central Railway Boundary on the west. | 27,230 | 82,350 | 90,600 | 98,850 | 82,350 |
Village: Kurla 4
| Subdivision | Open land (Rs per square metre) | Residential flats (Rs per sqm) | Office (Rs per sqm) | Shop (Rs per sqm) | Industrial (Rs per sqm) |
| 108/516 -Land: All the land of the village on the west side of Lal Bahadur Shastri Marg | 43,120 | 1,05,990 | 1,21,890 | 1,32,490 | 1,05,990 |
| 108/517 -Land: All land of the village east of Lal Bahadur Shastri Marg | 54,680 | 1,30,710 | 1,50,320 | 1,63,390 | 1,30,710 |
| 108/519 – Road: Connecting Kurla Station to Lal Bahadur Shastri Marg. Many ways | 30,250 | 63,940 | 70,900 | 1,30,000 | 63,940 |
| 108/518A-Land: The said income in Swan Mill | 56,730 | 1,14,100 | 1,42,200 | 1,79,400 | 1,14,100 |
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How to check ready reckoner rates in Mumbai online?
- Visit the official website of IGRS Maharashtra.
- Click on ‘e-ASR’, under ‘Online Services’.
- The map of Maharashtra will be displayed. Click on Mumbai Suburban.
- Select the village from the drop-down.
- Search by Survey number or location to view the details.
Ready reckoner rates in Kurla: Commercial and residential real estate trends
Kurla is a prominent locality in Mumbai, which has emerged as an attractive investment destination. Owing to its cosmopolitan image, the locality attracts numerous home seekers. Being centrally located, Kurla has attracted the attention of numerous investors and homebuyers. There are also social amenities, such as recreational spaces, restaurants, cafes, schools, and hospitals, offering a comfortable lifestyle for residents. Key roads, such as Santacruz Chembur Link Road, Lal Bahadur Shastri Marg, and Eastern Highway connect Kurla to various parts of Mumbai and neighbouring areas. The area is served by the Kurla Railway Station and the suburban railway network, ensuring smooth connectivity for the locals.
Moreover, the Kurla is around 2.6 km from the well-established commercial hub and business district of Bandra Kurla Complex (BKC). The growth of new companies in the neighbouring region has increased the demand for commercial spaces, especially rental properties.
Besides, there is a rising demand for housing in Kurla. Property prices have witnessed a significant increase in recent years. Thus, the prices of residential properties in Kurla are higher than in other localities.
Reasons to invest in Kurla
- Kurla is in proximity to the Bandra Kurla Complex (BKC), which is currently being redeveloped.
- The neighbourhood provides all the essential facilities, including public transportation, healthcare centres, shopping complexes, etc.
- There is a significant demand for rental properties. Thus, investment in properties in the region offers a good rental yield.
- There are a variety of housing options available in the locality.
FAQs
How to find ready reckoner rates in Mumbai?
Visit the official website of IGR Maharashtra to view the latest ready reckoner rates in the city.
What are the property registration charges in Mumbai?
Registration charges for properties worth over Rs 30 Lakh in Mumbai are Rs 30,000. For properties worth less than Rs 30 Lakh is 1% of the property value.
How are ready reckoner rates calculated in Mumbai?
Ready reckoner rates in Mumbai for a locality are calculated using the formula: Ready reckoner rate = Part of the land ratio X land cost + flat area X building cost + common area X construction cost.
Are ready reckoner rates different from market rates?
Yes. While the ready reckoner rates are determined by the local government as the minimum value of a property in an area, the market prices are the actual price at which property transactions take place.
Can ready reckoner rates in Mumbai be higher than the property's market value?
Generally, the market rates are higher than the ready reckoner rates in the city. However, if the ready reckoner rates are higher than market rates, the stamp duty should be paid based on the higher value.
Which factors impact the ready reckoner rates in Mumbai?
Ready reckoner rates in Mumbai are influenced by different factors, such as property location, its usage, amenities in the locality and market value.
| Got any questions or point of view on our article? We would love to hear from you. Write to our Editor-in-Chief Jhumur Ghosh at jhumur.ghosh1@housing.com |
