Maharashtra Government Market Value - Ready Reckoner Rate

Access official property valuations and ready reckoner rates for properties in Maharashtra

Overview

The Government Market Value in Maharashtra, also known as the Ready Reckoner Rate or Circle Rate, is the minimum value at which a property transaction (sale, transfer, or lease) is registered. This value is determined by the state government and is used as the basis for calculating stamp duty and registration charges during property transactions.

Use cases

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FAQs

What are the use cases of government market value in Maharashtra?

Fair Valuation: It provides a transparent and uniform standard for property valuation, ensuring that property deals are conducted at fair prices.
Taxation and Legal Compliance: It ensures proper collection of government revenue through stamp duty and registration fees, reducing tax evasion.
Basis for Loans: Banks and financial institutions use the government market value to assess the loan amount for home loans or property-backed loans.
Property Transactions: Both buyers and sellers must be aware of this value, as it affects the minimum amount at which the property can be registered.

How is Government Market Value determined in Maharashtra

Location and Infrastructure: The proximity of the property to essential infrastructure, like roads, schools, hospitals, and public transport, affects its market value.
Type of Property: Different rates apply for different types of properties (e.g., residential, commercial, industrial, agricultural).
Development Trends: In areas witnessing rapid urban development or infrastructural growth, the government market value may be higher due to increasing demand.
Periodic Revision: The Ready Reckoner rates are revised annually by the Maharashtra government, based on real estate trends and market conditions.

How can I verify the authenticity of Government Market Value provided online?

Landeed checks with official sources available online to get the latest market value for any property.

What is the difference between government market value and actual market value

The government market value is the fair market value or minimum value set by the government for the purposed of calculating stamp duty and registration fees. The actual market value is determined by various factors such Demand / Supply, location and other market trends. Landeed can help you ascertain both values of a property

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Also known as the Ready Reckoner Rate

Sets the minimum value at which a property can be registered

Value set by the state government for that area
Used to calculate stamp duty and registration charges
Ensures fair value of transactions

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