Ready reckoner rate in Thane’s Majiwada

Homebuyers looking for affordable properties in the Mumbai Metropolitan Region (MMR) are increasingly moving to Thane, a fast-growing real-estate market, thriving on connectivity and cost advantages. Since budget is the single biggest influencer in a property purchase decision, buyers must be aware of the average cost of property purchase in various areas of the Thane district. In this article, we find out how much money a buyer must pay to buy a property in Thane’s Majiwada based on the ready reckoner (RR) rate of the area in 2024.

Also check ready reckoner rate in Thane’s Dhokali

 

What is the ready reckoner rate?

The ready reckoner rate, also known as circle rate, collector rate, district collector rate or guidance value, is the minimum value assigned by the state government to different types of properties. This serves as the basis for determining the government-approved value of a property, influencing the calculation of stamp duty and registration fees.

 

How does the ready reckoner rate impact property prices in Majiwada?

Properties in Majiwada cannot be registered below the government-prescribed ready reckoner rate. These rates are the single biggest influencer of the basic minimum rate you pay to buy and register a property. However, be informed that RR rates are the basic minimum prices. The market value of the property could be higher and you might have to pay more than your initial calculation. Ready reckoner rates give you a fair idea of whether an area is affordable. However, check the prevalent market rates to have a better understanding.

At the time of property registration, stamp duty and registration fee are calculated based on the ready reckoner rates. This provides a fair idea of the associated charges to be paid as part of the legal ownership of a property.

 

Ready reckoner rate in Majiwada, Thane District, 2024

Area	Land/plot RR per square metre (in Rs)	Residential RR per square metre (in Rs)	Office RR per square metre (in Rs)	Shop RR per square metre (in Rs)	Industrial RR per square metre (in Rs)
Ghodbunder Road, adjacent to survey no. Mauje Majivade Village (Kolshet and Borikade) portion	45,600	98,600	113,000	1,40,600	1,13,000
All other survey numbers, except sub-division “A” above Majiwade (Bhag), which is remote from the road	41,100	1,24,000	1,26,200	1,68,200	1,26,200
Portion of Mauje Majiwadaya facing Ghodbunder Road on both sides	43,300	97,000	1,09,600	1,27,100	1,09,600
Mauje Majiwade survey no.	43,300	1,17,800	1,35,300	1,56,800	1,35,300
Survey no. of Vasant Vihar and Pawar Nagar etc., developed areas adjacent to and north of Pokhran Road No. 2	56,200	1,44,500	1,65,200	1,79,300	1,65,200
6/25-3E-5 and all other survey nos.	47,900	1,09,000	1,25,700	1,35,500	1,25,700
Survey no. 6/26-4a: Entire Majiwade village adjacent to Thane Bay	44,600	1,21,600	1,43,400	1,14,500	1,21,600
Survey no. 6/27-4b: Thane Bay adjacent to Majivadaya portion	41,400	1,37,600	1,54,700	1,72,800	1,54,700
Survey no. 6/28-4A: Entire Majike village adjacent to Thane Bay	31,800	1,03,700	1,06,100	1,30,200	1,06,100

 

How to check Majiwada’s ready reckoner rate list on the official site?

Step 1: Visit the IGR Maharashtra official website at https://igrmaharashtra.gov.in/Home.

 

 

Step 2: On the home page, click on ‘e-ASR’.

 

 

Step 3: Click on ‘e-ASR 2.0’.

 

 

Step 4: On the map of Maharashtra, select Thane as the district.

 

 

 

Step 5: Select Thane as the taluka as well.

 

 

Step 6: Select Majivade as the village.

 

 

Step 7: You will see the detailed list of ready reckoner rates in Majivade.

 

 

How do lower ready reckoner rates impact property affordability?

States tweak ready reckoner rates to bring them at par with the market rates. This is an instrument to increase interest in the real-estate market. Low ready reckoner rates impact market dynamics in the following manner:

Affordability: The most obvious effect of low ready reckoner rates is on affordability. Comparatively lower RR rates bring the property within the purchasing power of more people by cutting basic investment value and associated charges, like stamp duty and registration fee.

Increased investments, increased competitiveness: In a property market like Mumbai, where house ownership is beyond the reach of a large number of people, RR rates are a major tool to hike investment. Areas with affordable RR rates have a better chance of attracting investments.

Increased revenue generation: Property affordability helps government authorities generate higher revenues. A higher number of people are interested in investing in an area with lower ready reckoner rates and are more likely to register the transaction.

Economic growth: Since lower RR rates enable more people to invest in an area with improved affordability, it leads to higher economic growth in the area. Higher investments lead to higher revenue generation for authorities through an increase in stamp duty and registration fee collection.

 

Why invest in Majiwada, Thane?

In the past decade, Majiwada, which is in the Konkan region of the Thane district, has witnessed significant development in terms of mid- to high-end residential projects, making it popular among working-class professionals. Armed with great connectivity and social infrastructure that promises an enjoyable family experience, the area has seen major investment.

Lying 7 km from Thane city, Manjiwada serves as an employment hub in the region.

Data available with Housing.com shows the average rate of property in the area to be Rs 12,921 per square foot. Prices can range between Rs 5,000-22,550 per square foot. The average monthly rent in Majiwada is Rs 51,666 per month. Rents might range between Rs 45,000-58,000 per month, depending on the type of property and its location.

 

Conclusion

In case you want to bet on the potential of a growing real estate market, Manjiwada in Thane could be an ideal choice. While offering all the facilities of a suburban locality, the area offers great connectivity and a well-developed social infrastructure, making it ideal for family living. Prices in the area are likely to get a major boost with the arrival of metro connectivity.

 

FAQs

Where is Majiwada in Thane?

Majiwada is part of Thane West in the Mumbai Metropolitan Region and is in the Konkan region of Thane district.

What is ASR?

ASR is short for the annual statement of rates.

Are ready reckoner rates and circle rates the same?

Yes, ready reckoner rates are the same as circle rates. Ready reckoner rate is the term used in Maharashtra.

Are ready reckoner rates and guidance values the same?

Yes, ready reckoner rates are the same as guidance value. Guidance value is used in Karnataka.

Are ready reckoner rates and collector rates the same?

Yes, ready reckoner rates are the same as collector rates. Collector rate is used in Haryana and Punjab.

How is road connectivity in Majiwada?

Majiwada is well connected to the Mumbai-Agra National Highway.

How is railway connectivity in Majiwada?

The Thane Railway Station is 7 km from Majiwada.

How far is the airport from Majiwada?

The Chhatrapati Shivaji International Airport is at a distance of 24.8 km.

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]