Mumbai is one of the most expensive property markets in the world. This rules out investing in its housing market. However, areas adjoining the financial capital of India are becoming a great alternative amid an infrastructure update. Thane tops the list of such areas. To narrow down the list, Bhiwandi is fast becoming the choice for homebuyers. Investing in the Nehru Nagar area is a great return on investment. However, a homebuyer must know how much they will have to spend to buy a property in Thane’s Nehru Nagar, based on the ready reckoner rate in the area in 2024.
Also check the ready reckoner rate in Thane’s Dhokali
What is the ready reckoner rate?
The ready reckoner rate is the minimum value attached to various properties by a state government. Also known as circle rate, collector rate, district collector rate and guidance value, the ready reckoner (RR) rate is the benchmark used to arrive at the government-approved value of a property. Stamp duty and registration fees on a property are calculated based on the ready reckoner rate.
Ready Reckoner rate in Nehru Nagar, Thane District 2024
| Area | Land (in Rs) | Residential (in Rs) | Office (in Rs) | Shop (in Rs) | Industrial (in Rs) |
| Survey No 12/112-Ward no. 15/57 | 6,200 | 33,100 | 38,000 | 42,200 | 38,000 |
| Survey No 12/113-Ward no. 15/58 | 6,800 | 33,500 | 38,500 | 43,700 | 38,500 |
| Survey No 12/114-Ward no. 16/59 | 6,800 | 33,700 | 38,800 | 43,700 | 38,800 |
| Survey No 12/115-Ward no. 16/60 | 8,100 | 35,000 | 40,200 | 45,500 | 40,200 |
| Survey No 12/116-Ward no. 16/61 | 7,500 | 34,500 | 39,800 | 44,100 | 39,800 |
| Survey No 12/117-Ward no. 40/2 | 10,800 | 40,600 | 47,700 | 57,000 | 47,700 |
| Survey No 12/118-Ward no. 41/1 | 8,000 | 35,000 | 40,200 | 45,600 | 40,200 |
| Survey No 12/119-Ward no. 41/2 | 7,300 | 34,100 | 39,200 | 42,700 | 39,200 |
| Survey No 12/120-Ward no. 42/1 | 8,200 | 35,000 | 40,200 | 45,500 | 40,200 |
| Survey No 12/121-Ward no. 42/2 | 7,000 | 33,900 | 39,100 | 42,900 | 39,100 |
| Survey No 12/122-Ward no. 43 | 6,800 | 33,500 | 38,500 | 43,700 | 38,500 |
| Survey No 12/123-Ward no. 48 | 8,300 | 35,300 | 41,200 | 49,300 | 41,200 |
| Survey No 12/124-Ward no. 52 | 7,700 | 34,600 | 40,200 | 47,800 | 40,200 |
| Survey No 12/125-Ward no. 53 | 9,000 | 36,000 | 41,400 | 47,800 | 41,400 |
| Survey No 12/126-Ward no. 54 | 8,500 | 35,300 | 40,700 | 44,500 | 40,700 |
| Survey No 12/127-Ward no. 55 | 10,000 | 37,800 | 44,500 | 52,900 | 44,500 |
| Survey No 12/128-Ward no. 56 | 7,400 | 37,600 | 43,200 | 47,000 | 43,200 |
| Survey No 12/129-Ward no. 57 | 7,600 | 34,300 | 39,300 | 43,000 | 39,300 |
| Survey No 12/130-Ward no. 58/1 | 7,000 | 33,900 | 39,100 | 42,500 | 39,100 |
| Survey No 12/131-Ward no. 58/2 | 9,200 | 35,900 | 41,400 | 48,800 | 41,400 |
Check Nehru Nagar, Thane, 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: Under “e-ASR”, click on “e-ASR 2.0”.
Step 4: You will see the map of Maharashtra.
Step 5: On this map, select Thane as the district.
Step 6: In the next block, select Bhiwandi as the taluka.
Step 7: Next, select Bhiwandi Nizampur Mahanagar Palika as the village.
Step 8: You will see the detailed list of ready reckoner rates in Nehru Nagar.
Factors affecting the ready reckoner rates
Location: The property’s location impacts the circle rates. The circle rates in a posh neighbourhood are higher than in rural areas.
Connectivity: Ready reckoner rates are influenced by connectivity. Areas close to transportation hubs, such as airports and railway stations, have higher ready reckoner rates.
Demand and supply: The overall property demand and supply in a particular area has a direct bearing on the ready reckoner rates. High demand with limited supply may result in higher RR rates.
Property usage: Circle rates for residential properties are lower compared to commercial properties, such as shops and offices.
Amenities: The availability of amenities, such as good roads, transportation, infrastructure and shopping malls, determine the circle rates.
Why invest in Nehru Nagar, Thane?
The real estate landscape in Bhiwandi is continuously expanding, presenting lucrative opportunities for residential and commercial investments. The substantial growth in high-rise constructions is a key contributing factor. In addition, factors, such as swift and cost-effective connectivity, well-developed infrastructure and reasonable property prices, further enhance the appeal of the region for prospective investors.
The area’s success, as an industrial hotspot, has boosted the real estate, rising property value in localities within Bhiwandi, including Nehru Nagar.
The Nehru Nagar area provides varied property options, from multi-storey apartments to builder floors. Data available with Housing.com shows that the property prices in the area range between Rs 2,926 and Rs 2,926. Price trends recommend that both the purchase and sale of properties in Nehru Nagar in Bhiwandi are profitable.
Conclusion
It is important to be aware of the prevalent ready reckoner rates while buying a property for informed monetary planning. Aside from property valuation, this knowledge is necessary to calculate the associated costs, such as stamp duty and registration fees. The cost of your property can heavily impact your tax savings. First-time homebuyers in India, for instance, can avail of tax benefits under Section 80EEA of the Income Tax law for property worth up to Rs 45 lakh. They can save up to Rs 1.50 lakh in taxes on interest payments on home loans. However, this benefit is not offered to buyers of properties worth more than Rs 45 lakh, even if they are first-time buyers.
FAQs
Where is Nehru Nagar in Thane?
Nehru Nagar is a neighbourhood in Padma Nagar, Bhiwandi.
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. The collector rate is used in Haryana and Punjab.
| 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 |
