Maharashtra’s vibrant city of Thane is home to a robust residential and commercial real estate market. It is beneficial to be aware of the ready reckoner rate in Thane, as there are some intriguing real estate projects planned for the city.
One of the first things you do as a committed buyer or investor searching for suitable properties in Thane is establish a budget for the acquisition. Understanding the ready reckoner rate in Thane is essential for budgeting and navigating the real estate market. What are the ready reckoner rates in Thane’s most sought-after areas? Read on to find out!
What is the Thane-ready reckoner rate?
These are the lowest property rates set by the government for a specific area. They are called Ready Reckoner Rates, Circle Rates, or Guidance Values. Stamp duty and registration fees are determined based on these rates when purchasing or selling real estate in Thane. The ready reckoner rates are in effect from April 1 to March 31 each year. The latest reckoner rates experienced modifications and adjustments on March 31, 2022.
In Thane, the government sets benchmark property rates known as Prepared Reckoner Rates. They play a significant role in real estate transactions and affect the market. Both buyers and sellers should understand these rates to guarantee a fair deal and make wise decisions.
Factors influencing Thane’s ready reckoner rates
Several factors influence the ready-reckoner rats in Thane. As a result, different property types and locations have different rats. For instance, upscale residential areas tend to have higher ready reckoner rates than developing neighborhoods. Simultaneously, commercial rates increase in comparison to residential rates. The following are the main variables influencing Thane’s ready reckoner rates:
Location
One of the main determinants of a property’s Ready Reckoner Rate is its location. Higher rates tend to occur in areas with superior infrastructure, proximity to amenities, and good connectivity. For instance, because of their accessibility and popularity, prime locations like Ghodbunder Road and Polhran Road fetch higher rates.
Type of property
Also influencing the Ready rates is the type of property. The rates for residential, commercial, and industrial properties vary. When calculating the rates, other factors like the number of rooms, amenities, and construction quality are considered, along with the property’s size and quality.
Consumer desire
The Prepard Compensator. The demand for properties in a particular area affects rates. In high-demand areas, rates are likely to rise. Considerations such as proximity to commercial centers, academic establishments, and medical facilities augment demand, leading to elevated prices.
Building infrastructure
The Ready Reckoner Rates directly impact the infrastructure development in a given area. Rates may go up because of better roads, more accessible public transportation, and the availability of necessities like electricity and water. Thane’s ongoing infrastructure, such as the metro line and roads, will be the primary driver of future rate increases.
Thane ready reckoner rates for the residential market
The following is a list of the most recent ready reckoner rates for Thane’s residential area, some of which are well-known.
| Ready Reckoner rates in Thane (2024) for residential properties | |
| Places in Thane | Residential property rates |
| Ambernath | Rs 46500 |
| Badlapur | Rs 39900 |
| Balumbh | Rs 79900 |
| Bhiwandi | Rs 40600 |
| Dombivali | Rs 61000 |
| Ghodbunder Road | Rs 98600 |
| Kolshet | Rs 94600 |
| Kulgoan | Rs 43200 |
| Kalyan | Rs 69100 |
| Murbad | Rs 32700 |
| Majiwada | Rs 124000 |
| Mira Bhavndar | Rs 74800 |
| Naupada | Rs 130900 |
| Nizampur City | Rs 34700 |
| Shahpur | Rs 36300 |
| Thane | Rs 83800 |
| Ulhasnagar (CAMP A-CAMP-3) | Rs 42600 |
Impact of ready reckoner rate in Thane
The most recent data shows that, as of March 31, 2022, the Ready Reckoner Rates in Thane have increased by an average of 8.8 percent. This increase has directly impacted the city’s real estate market. For example, residential properties in desirable areas such as Thane West and Ghodbunder Road have experienced a substantial rise in the mean price per square meter.
The rise in Ready Reckoner Rates has also affected how affordable properties are in Thane. Due to the higher rates, buyers of homes now have to pay stamp duty and registration fees. Because of this, buying real estate in the city has become difficult for people with middle-class incomes.
Anyone working in the residential real estate industry in Thane needs to be aware of the Ready Reckoner Rates. These rates are vital in real estate transactions because they give properties a uniform valuation. It is best to consult a real estate advisor and stay with the latest rates for accurate information.