It is not the market price, but a government-determined floor price below which a property cannot be legally registered.
The RRR serves as a benchmark to ensure transparency and prevent tax evasion through under-reporting. Maharashtra Ready Reckoner Rate 2026
The Ready Reckoner Rate, also known as the or Guidance Value , is the minimum property valuation set by the Maharashtra State Government (specifically the Department of Registration and Stamps) for all types of properties—residential, commercial, agricultural, and industrial—across the state, including Mumbai.
As of 2023-2024, the RRR in Mumbai varies across different areas and types of properties. Here are some approximate rates:
Stamp Duty = (₹1,00,00,000 x 5% ) + (₹1,00,00,000 x 1%) ≈ ₹6,00,000