Ready reckoner rate in Borivali, Mumbai

Borivali, a prominent location is in the western suburbs of the city. The Western Railway Line divides the location into Borivali (East) and Borivali (West). This area has been developed from a group of small towns made of Eksar, Poisar, Vazira, Shimpoli, Mandpeshwar, Dattapada, Kanheri, Tulsi, Magathane and Gorai. The suburb is believed to get its name from the Marathi fruit ‘Bor’ that stands for berries in English. The fruit grows in abundance here.

See also: Ready Reckoner Rate in Andheri, Mumbai

 

What is circle rate?

Circle rate is the amount set by the state government below which you can’t register a property. It is known by different names such as ready reckoner rate, guidance value, guidelines value, annual statement of rate, etc., across the country. In Maharashtra, it is commonly known as the ready reckoner rate or the annual statement rate.

 

How would you check the annual statement rate?

You can check the annual statement rate of an area, for example, Borivali by logging on to the IGR Maharashtra portal.

• Below the stamps section, click on e-ASR.

 

 

• Click on e-ASR 1.9 version. You will reach here:

 

 

Click on Mumbai Upnagar and select village as the location in Borivali. For instance, Aarey (Borivali) and proceed.

 

 

You can access the annual statement of rate at Aarey with the amount for open land, residential areas, office, shops, and industrial areas.

 

 

Circle rates in Borivali – offices, shops

Locality	Rates per square meter
Borivali (East)	Rs 1,42,000- 2,43,000/ 65,800 -3,02,000

 

Circle rates in Borivali – residential (apartments and flats)

Locality	Rates per sqm
Borivali (East)	Rs 52,800 – 1,18,000

 

Circle rates in Borivali – offices, shops

Locality	Rates per sq m
Borivali (West)	Rs 1,15,000 – 1,44,000/1,38,000 – 2,05,000

 

Circle rates in Borivali – residential (apartments and flats)

Locality	Rates per sqm
Borivali (East)	Rs 95,300 – 1,18,000

 

Borivali: About the location

The neighbouring locations to Borivali (East) include Devipada, Abhinav Nagar, Ovari Pada, Chinchpada, Dattapada, Jai Jawan Nagar, Asara Colony, Ambabari, Sukarwadi, Chintamani Nagar, Shankheshwar Nagar, Magathane, and Nancy Colony.

Localities near Borivali (West) are MHB Colony, Yogi Nagar, Ashtavinayak Nagar, Ashok Nagar, Vazira Naka, Gorai, and Eksar.

Borivali has reputed schools, such as St. John’s School, Seth MK High School, Municipal School, Gokhale College, ISMT Business School, St. Rocks College of Commerce and Science, Institute of Management Studies, and Junior College, etc. Medical institutions, such as Ankit Hospital, Narendra Hospital, Parmar Hospital, Shatabdi Hospital, Metro Polis Hospital, Crystal Hospital, etc., are located here.

 

Landmarks in Borivali

Prominent landmarks including the Sanjay Gandhi National Park, the Kanheri Caves, Mandapeshwar Caves, etc., are in Borivali. This area was also home to India’s oldest theme park — Essel World, got closed after the COVID-19 pandemic.

 

Borivali: Connectivity

Borivali is well-connected to other parts of Mumbai through a robust rail and road network. The Borivali Railway Station is an originating and terminating railway station and connects this place to Churchgate in south Mumbai. This is also a stop for some of the outstation trains. The Mumbai Chhatrapati Shivaji Maharaj International Airport is around 15 km from Borivali.

As far as infrastructural development is concerned, the Goregaon Mulund Link Road (GMLR) is under-construction. According to the design, the BMC is constructing two underground tunnels of around 4.7 km below the Sanjay Gandhi National Park (SGNP). Expected to be ready by 2025, the GMLR, that is supposed to connect the Western Expressway with the Eastern Expressway, will considerably reduce the travel time between Goregaon and Mulund.

 

Residential prices in Borivali (East)

According to Housing.com, the average price for buying an apartment in Borivali (East) is Rs 18,733 with the price range between Rs 5,454 per sqft and Rs 35,263 per sqft. If you are looking for renting a property here, the average rent is Rs 55,536, with the price range for rent between Rs 8,500 to Rs 2, 00,000.

 

Residential prices in Borivali (West)

According to Housing.com, the average price for buying an apartment in Borivali (West) is Rs 20,875 with the price range between Rs 5,600 per sqft and Rs 35,953 per sqft. If you are looking for renting a property here, the average rent is Rs 40,215, with the price range between Rs 9,000 to Rs 1, 00,000.

 

Why invest in Borivali?

One of the oldest areas in Mumbai, Borivali is an ideal location with its robust infrastructure and good connectivity. The latest addition is the Devipada Metro Station that further enhances the connectivity. A posh locality with the right mix of calm and buzz, most projects at Borivali are in mid-luxury and premium-luxury categories. The top brass developers have their projects here and so innovation and quality construction are the main feature. However, homebuyers mostly settle for projects in buildings that have gone for redevelopment or resale due to land constraints.

 

FAQs

What do we call circle rate in Maharashtra?

The circle rate in Maharashtra is known as the ready reckoner rate or the Annual Statement Rate (ASR).

What is the formula to calculate the property value?

Property value = build up area in square metres X circle rate for the locality per square metre (in Rs).

Where can you check the ASR for an area in Maharashtra?

The ready reckoner rate can be checked under the e-ASR tab listed on the IGR Maharashtra portal homepage.

Which city is Borivali a part of?

Borivali is a part of Mumbai.

Which are the neighbouring areas of Borivali?

Neighbouring areas of Borivali West are MHB Colony, Yogi Nagar, Ashtavinayak Nagar, Ashok Nagar, Vazira Naka, Gorai, and Eksar.

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 [email protected]