Ready reckoner rate in Lokmanya Nagar, Thane

Lokmanya Nagar is a well-developed locality in Thane West. It is a sought-after location for homebuyers due to its social infrastructure. If one is interested in buying a house or a property, it is essential to be aware of the ready reckoner rates, which are the property rates determined by the state government. These rates vary from one city to another and from one locality to another within a city. Thus, before investing in a property, checking the ready reckoner rates will help plan the finances better.

Table of Contents

Check ready reckoner rate in Thane West

What are ready reckoner rates?

The ready reckoner rate is the minimum property rate set by the state government for a locality, below which a property cannot be registered.

What are ready reckoner rates in Lokmanya Nagar, Thane?

Ready reckoner rates in Lokmanya Nagar, Thane, are fixed by the Maharashtra government after considering several factors, such as market trends, location and property type. These rates are periodically revised and updated on the official portal of the IGR Maharashtra. Ready reckoner rates help prospective buyers understand the prevailing property prices in a locality. Buyers pay the stamp duty and registration charges based on the actual transaction value or the ready reckoner rates in the area, whichever is higher.

Factors impacting ready reckoner rates in Lokmanya Nagar, Thane

The ready reckoner rates in Lokmanya Nagar, Thane, are calculated by the state government based on several factors:

Location: The location influences the ready reckoner rates. For example, properties in prime locations with access to social infrastructural facilities have a higher rate compared to those in far-flung areas with fewer amenities.
Infrastructure: The availability of physical and social infrastructure, including public transportation, roadsand water supply, impacts property values. Development of new projects can increase the ready reckoner rates in an area.
Type of properties: Ready reckoner rates are lower for residential properties compared to commercial properties. They may vary based on the age of the property.
Demand and supply: The availability of land for development and new projects, such as upcoming metroand flyovers, influences the demand-supply dynamics. Ready reckoner rates may increase if the demand for properties is high while the supply is limited.
Market trends: Factors such as economic conditions, interest rates and government policies can impact property prices.

Residential ready reckoner rate in Lokmanya Nagar, Thane

Subdivisions	Open land (in Rs per sqm)	Residential (in Rs per sqm)
3/10/A-6A to 3/10/F-6a All land on the west side of Mumbai-Agra Expressway Tika No. 1 Nagar Rachna Yojana No. 2	46500	130900

Source: Department of Registration and Stamps, Government of Maharashtra

Commercial Ready reckoner rate in Lokmanya Nagar, Thane

Subdivisions	Office (in Rs per sqm)	Shops (in Rs per sqm)	Industrial (in Rs per sqm)
3/10/A-6A to 3/10/F-6a All land on the west side of the Mumbai-Agra Expressway	181300	261600	181300

Source: Department of Registration and Stamps, Government of Maharashtra

How to check the ready reckoner rate in Lokmanya Nagar, Thane?

Go to the official IGRS Maharashtra website of the Department of Registration and Stamps Maharashtra at https://igrmaharashtra.gov.in/Home.
Click on ‘e-ASR’ under ‘Online Services’.

On the map of Maharashtra,click on Thane district.

Select the taluka and village. One can search by survey number or location to view ready reckoner rates.

Property rates in Lokmanya Nagar, Thane

Locality	Average property rate	Price range
Lokmanya Nagar, Thane West	Rs 13800 per square foot	Rs 55 lakh to Rs 1 crore

Source: Housing.com

Reasons to invest in Lokmanya Nagar, Thane

Lokmanya Nagar is a prominent neighbourhood in Thane West. It is strategically located near the Eastern Express Highway, allowing easy connectivity to Mumbai and other areas of Thane.
The locality has efficient public transportation, including buses and trains. The Thane Railway Station is located around 4 kilometres from the locality.
The neighbourhood ensures a comfortable lifestyle for the residents, with access to reputed schools and educational institutions, healthcare centresand shopping complexes.
The presence of well-developed infrastructure and upcoming development projects, such as the expansion of road and railway networks, make Lokmanya Nagar a favourable area for property investment.

Housing.com News Viewpoint

The state government of Maharashtra revises the ready reckoner rates periodically and updates the data on the official IGR portal. Potential homebuyers can check the current ready reckoner rates on the official website. The website has a Stamp Duty calculator for buyers to find out the estimated registration charges.

FAQs

What are the stamp duty and registration charges in Thane?

The stamp duty in Thane is 7% while registration charges are 1% of property value for properties below Rs 30 lakh. The registration charges are Rs 30,000 for properties above Rs 30 lakh. For women buyers, the stamp duty rate is 6%.

What is the ready reckoner rate in Lokmanya Nagar, Thane?

The ready reckoner rate in Lokmanya Nagar, Thane, is the minimum property rate fixed by the state government below which properties cannot be registered in the records.

How is the ready reckoner rate calculated in Lokmanya Nagar, Thane?

Ready reckoner rates in Lokmanya Nagar, Thane are calculated based on several factors, such as location, infrastructure and supply-demand in the region.

Can you check the ready reckoner rate in Thane online?

Yes. Visit the official website of IGR Maharashtra to find the latest ready reckoner rate in Thane.

Can the ready reckoner rate be higher than a property’s market value?

Typically, ready reckoner rates are fixed based on market trends. Usually, ready reckoner rates are lower than the 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 [email protected]

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Harini Balasubramanian

Harini is a content management professional with over 12 years of experience. She has contributed articles for various domains, including real estate, finance, health and travel insurance and e-governance. She has in-depth experience in writing well-researched articles on property trends, infrastructure, taxation, real estate projects and related topics. A Bachelor of Science with Honours in Physics, Harini prefers reading motivational books and keeping abreast of the latest developments in the real estate sector.