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Ready Reckoner (RR) rates are the minimum government-registered prices. Actual market rates are typically 20–60% above RR rates. Stamp duty and registration is calculated on RR rate or actual price — whichever is higher.
| Area | RR Rate (approx ₹/sq ft) | Market Rate (approx ₹/sq ft) | Zone |
|---|---|---|---|
| Colaba / Nariman Point | ₹1,20,000–₹1,80,000 | ₹80,000–₹2,00,000+ | South |
| Bandra West | ₹70,000–₹1,10,000 | ₹55,000–₹1,40,000 | West |
| Andheri West | ₹35,000–₹55,000 | ₹25,000–₹50,000 | West |
| Powai | ₹25,000–₹40,000 | ₹22,000–₹38,000 | Central |
| Goregaon / Malad | ₹20,000–₹35,000 | ₹18,000–₹32,000 | West |
| Borivali / Kandivali | ₹16,000–₹28,000 | ₹15,000–₹26,000 | West |
| Thane (nearby) | ₹10,000–₹18,000 | ₹9,000–₹16,000 | East |
Pagdi (premium tenancy) is a unique Mumbai system from the Bombay Rent Control Act 1947. A pagdi tenant pays a one-time premium to the landlord and then pays very low monthly rent (often ₹200–₹2,000 for flats worth crores). The tenant has near-permanent occupancy rights and can even sell the tenancy — sharing 33% of premium with the landlord. Most pagdi buildings are in Girgaon, Dadar, Parel, Kalbadevi, Matunga.
Mumbai has the most complex real estate market in India — multiple tenancy systems (ownership, pagdi, MHADA, SRA, rent-controlled), multiple authorities (BMC, MHADA, SRA, MMRDA) and a stamp duty structure that rewards smart registration planning. Understanding these basics can save lakhs on any property transaction.
FSI (also called FAR — Floor Area Ratio) determines how much built-up area is permitted on a plot. Mumbai's FSI has been progressively increased: island city plots can now have FSI of 3.0–5.0 in premium zones, suburbs up to 2.5–3.0. Higher FSI = more floors = higher land value. FSI changes are the single biggest driver of Mumbai's property market.
Every new residential project in Maharashtra must be registered with MahaRERA. Before booking any flat, check the builder's MahaRERA registration at maharera.mahaonline.gov.in. View the project's registered completion date, bank account details, CA-certified quarterly progress reports and any complaints filed against the project. Unregistered projects are illegal — do not book them.