Average Ready Reckoner rate for a flat in Lower Parel area
₹30,285 per sq ft
₹3,25,980 per sq m
- Range by zone
- ₹19,158–₹49,725
- Zones
- 53
- In Mumbai City
- 6th highest
- Applicable from
- 1 Apr 2025
Lower Parel Ready Reckoner rate per sq ft by property type
Residential (flat)
₹30,285 per sq ft
₹3,25,980 per sq m
Range by zone ₹19,158–₹49,725
Open land (plot)
₹12,302 per sq ft
₹1,32,420 per sq m
Range by zone ₹4,534–₹20,716
Office
₹34,828 per sq ft
₹3,74,880 per sq m
Range by zone ₹22,031–₹60,499
Shops
₹38,713 per sq ft
₹4,16,700 per sq m
Range by zone ₹23,947–₹71,173
Industrial
₹30,285 per sq ft
₹3,25,980 per sq m
Range by zone ₹19,158–₹49,725
Flat rates in the Lower Parel locality range from ₹19,158 to ₹49,725 per sq ft (₹2,06,210 to ₹5,35,240 per sq m), depending on the zone. The highest is zone 12/89B; the lowest is zone 12/90.
Zone wise Ready Reckoner rate in Lower Parel area
Ready Reckoner for Lower Parel area has 53 zones. They are described by roads and housing societies, not plot numbers, so type your road, society or landmark in the box below to find yours.
No match? Take the CTS number from your property card to the Sub-Registrar office, and they can tell you the zone code to type here.
Still not sure? The Mumbai City Sub-Registrar office can confirm which zone it will use for your property. Our guide on finding your Ready Reckoner zone shows how to match your documents to a zone. If you think the value is too high, you can ask for it to be fixed under section 31 of the Maharashtra Stamp Act before you register. If the Collector fixes a higher value under section 32A, you can appeal within 60 days under section 32B.
Nothing matches. Try a road, landmark or society name from your agreement, or ask the Sub-Registrar office for the zone code.
| Zone | Area covered | Flat₹/sq m | Open plot₹/sq m | Office₹/sq m | Shop₹/sq m | Industrial₹/sq m |
|---|---|---|---|---|---|---|
| 12/87 | Road: Lala Lajpatrai Road, the southern limit of the zone (Tsalabai Desai Chowk to Rajani Patel Chowk), south of the zone boundary, from Rajani Patel Chowk up to. | 4,03,160 | 2,16,570 | 4,63,630 | 5,61,500 | 4,05,050 |
| 12/87A | Road: Dr. Annie Besant Road (from Rajani Patel Chowk to Veer Nariman Junction). | 4,45,850 | 2,22,980 | 5,12,730 | 5,61,500 | 4,45,850 |
| 12/87B | Road: Swatantra Veer Savarkar Road (Veer Nariman Road Junction, from beyond north towards the zone boundary) (up to Sayani Road). | 3,87,500 | 1,99,670 | 4,61,560 | 5,61,500 | 4,05,050 |
| 12/88 | Area: south of Pandurang Budhakar Road, east of the 24.40-metre Development Plan Road, west of the zone limit. | 5,04,910 | 2,04,190 | 5,80,650 | 6,35,800 | 5,04,910 |
| 12/88A | Area: east of Rajabhau Anant Desai Road, west of Sadahasu Tandel Road and Desai Road, south of the limit of valuation zone 12/89A and north of Appasaheb Marathe Road. | 3,44,320 | 1,59,870 | 5,17,900 | 6,35,800 | 4,60,300 |
| 12/88B | Area: east of Sayani Road, south of Appasaheb Marathe Road, north of Old Prabhadevi Road. | 4,39,960 | 1,81,470 | 5,17,900 | 6,35,800 | 4,60,300 |
| 12/89 | Area: south of the southern limit of valuation zone No. 12/89A, south of Pandurang Budhakar Road, on N.M. Joshi Road and Balasheth Madhurakar Road; north and east of Jagannath Bhatanakar Road, west of Sadanand Tandel Road. | 3,37,710 | 1,56,250 | 3,88,370 | 4,41,900 | 3,37,710 |
| 12/89A | Area: the following properties in original valuation zone No. 12/89. | 3,71,140 | 1,64,940 | 4,26,810 | 4,63,920 | 3,71,140 |
| 12/89B | Area: properties in the Oriental Silk Mill east of Prabhadevi Chowk (TPS IV Mahim area). | 5,35,240 | 2,11,950 | 6,51,200 | 7,66,100 | 5,35,240 |
| 12/89C | Area: east of Sayani Road and north of Appasaheb Marathe Road, south of Jagannath Bhatanakar Road and the drain, west of the Standard Mill limit. TPS IV Mahim area. | 3,32,490 | 1,53,330 | 3,82,360 | 4,16,700 | 3,32,490 |
| 12/89D | Area: the properties under Bombay Dyeing. | 3,22,360 | 1,56,250 | 3,97,220 | 4,64,000 | 3,27,920 |
| 12/89E | Properties in the Birla Niyaara project | 3,37,710 | 1,56,250 | 3,88,370 | 4,41,900 | 3,37,710 |
| 12/89F | Area: properties under the Sumer Realty project. | 3,32,490 | 1,38,730 | 3,82,360 | 4,16,700 | 3,32,490 |
| 12/90 | Area: north of Pandurang Budhakar Road, east of Ganpat Jadhav Road, south and west of the zone boundary. | 2,06,210 | 90,050 | 2,37,140 | 2,57,760 | 2,06,210 |
| 12/90A | Area: The property shown below, adjoining Dr. Annie Besant Road and B.D.D. Chawl. | 3,64,750 | 1,54,310 | 4,19,460 | 4,61,700 | 3,64,750 |
| 12/90B | Area: north of Pandurang Budhakar Road, south of H.R.D. Ekar Road and east of Waghamare Road. | 2,46,270 | 1,13,230 | 2,83,210 | 3,18,300 | 2,54,500 |
| 12/91 | E-area: Triangular area between — on the North: Ganpat Rao Kadam Road; on the South and on the West: Dr. E. Moses Road/12/91-Area: on the North — H.R. Divekar Road; on the East — Shivram Seth Amrutwar Road and Shankarrao Naram Path; on the South — Ganpatrao Road; and on the West — Ganpat Jadhav Road. | 2,85,910 | 1,18,200 | 3,28,800 | 3,57,400 | 2,85,910 |
| 12/91(i) | Area: properties included in Marathon Realty | 3,25,980 | 1,39,190 | 3,74,880 | 4,23,700 | 3,25,980 |
| 12/91A | Area: the Central Railway line; west of the Western Railway line; south and east of Sane Guruji Road; south of Keshavrao Khade Road. | 3,32,450 | 1,40,590 | 3,82,320 | 4,23,700 | 3,32,450 |
| 12/91AA | Area: the triangular area east of N.M. Joshi Road, south of Marathon Realty Business Park and west of Lower Parel railway station. | 2,61,270 | 1,19,310 | 3,17,610 | 3,81,330 | 2,72,010 |
| 12/91AB | Area: the properties in the Piramal Mahalaxmi project. | 3,65,700 | 1,54,640 | 4,20,550 | 4,66,070 | 3,65,700 |
| 12/91AC | Area: properties in the Minerva Lodha Bellissimo project. | 3,49,080 | 1,47,610 | 4,01,440 | 4,44,890 | 3,49,080 |
| 12/91AD | Properties in the Runwal 7 Mahalaxmi project | 3,32,450 | 1,40,590 | 3,82,320 | 4,23,700 | 3,32,450 |
| 12/91AE | Slum-occupied properties | 3,32,450 | 1,26,530 | 3,82,320 | 4,23,700 | 3,32,450 |
| 12/91B | Road: Dr. E. Moses Road - from Sat Road Junction to Worli Naka. | 2,89,040 | 1,37,610 | 3,35,400 | 4,02,500 | 2,89,040 |
| 12/91C | Road: Keshavrao Khade Road - from Sat Road Junction to the Western Railway line. | 2,66,450 | 1,30,370 | 3,06,420 | 3,48,000 | 2,66,450 |
| 12/91E | East area: the triangular area north of Ganpatrao Kadam Road, south and west of Dr. E. Moses Road. | 2,92,510 | 1,19,060 | 3,36,390 | 3,65,640 | 2,92,510 |
| 12/91EA | Area: the area north of Ganpatrao Kadam Road, south of Sitaram Jadhav Road, and the property limit to the east and west. | 2,92,510 | 1,01,200 | 3,36,390 | 3,65,640 | 2,92,510 |
| 12/91F | Area: north of Railway Chawl, south of the zone limit, east of the Central Railway line and west of N.M. Joshi Road. | 2,22,830 | 75,000 | 2,56,250 | 2,78,530 | 2,22,830 |
| 12/91FA | Area: east of the Central Railway line, north of Balasheth Madhurakar Road (Koral Road), west of N.M. Joshi Road, south of Railway Chawl. | — | 60,500 | — | — | — |
| 12/91G | Area: the properties in Phoenix Mill. | 3,68,720 | 1,64,730 | 4,44,710 | 4,83,380 | 3,86,700 |
| 12/91H | Area: east of Senapati Bapat Road, west of Shivram Sheth Amrutvar Road, north of Pandurang Budhakar Road and south of Ganpatrao Kadam Road. | 3,55,760 | 1,32,420 | 4,09,130 | 4,44,700 | 3,55,760 |
| 12/91HA | Area: properties included in the Srinivas Cotton Textile Mill project, situated in an area of more than 2 hectares. | 3,73,550 | 1,39,040 | 4,29,580 | 4,66,940 | 3,73,550 |
| 12/91HB | Area: properties included in the Lodha Park Said project. | 3,73,550 | 1,19,040 | 4,29,580 | 4,66,940 | 3,73,550 |
| 12/91HC | Area: properties included in the Raheja project, situated in an area of more than 2 hectares. | 3,73,550 | 1,32,420 | 4,29,580 | 4,66,940 | 3,73,550 |
| 12/91I | 12/91 (i)-Area: Properties included in Marathon Realty. | 3,25,980 | 1,39,190 | 3,74,880 | 4,23,700 | 3,25,980 |
| 12/91J | Area: properties included in the project, situated in an area of more than 2 hectares. | 3,00,210 | 1,24,110 | 3,45,240 | 3,75,260 | 3,00,210 |
| 12/91K | Area: the area north of Ganpatrao Kadam Road, east of the Western Railway line, west of Senapati Bapat Road and south of Dr. E. Moses Road. | 2,85,910 | 1,18,200 | 3,28,800 | 3,57,390 | 2,85,910 |
| 12/91L | Area: the triangular area east of N.M. Joshi Road, west of Senapati Bapat Road, north of Elphinstone Flyover and south of Ganpatrao Kadam Road. | 2,85,910 | 1,18,200 | 3,28,800 | 3,57,390 | 2,85,910 |
| 12/91M | Area between Ganpatrao Kadam Road to the north, Dr. E. Moses Road to the west, L.R. Papan Road to the south, and Dainik Shivner Road to the east | 2,92,510 | 1,19,060 | 3,36,390 | 3,65,640 | 2,92,510 |
| 12/91N | Area between Ganpatrao Kadam Road to the north, Dr. E. Moses Road to the west, and the boundary of valuation zone 12/91M to the south and east | 2,92,510 | 1,07,150 | 3,36,390 | 3,65,640 | 2,92,510 |
| 12/91O | Area between Ganpatrao Kadam Road to the north, Dainik Shivner Road to the west, the boundary of valuation zone 12/91G to the south, and Senapati Bapat Road to the east | 2,92,510 | 1,19,060 | 3,36,390 | 3,65,640 | 2,92,510 |
| 12/91P | Area between the boundary of valuation zone 12/91G to the north, Dainik Shivner Road to the west, Dr. E. Moses Road to the south, and Senapati Bapat Road to the east | 2,92,510 | 1,19,060 | 3,36,390 | 3,65,690 | 2,92,510 |
| 12/91Q | Area between the boundary of valuation zone 12/91G to the north, Dainik Shivner Road and the boundary of valuation zone 12/91E to the west, Dr. E. Moses Road to the south, and the boundary of valuation zone 12/91P to the east | 2,92,510 | 1,07,150 | 3,36,390 | 3,65,640 | 2,92,510 |
| 12/92 | Area: Triangular area between — on the South: Keshav Rao Khade Road; on the North-East: Dr. E. Moses Road; and on the North-West: Dr. Annie Besant Road and Lala Lajpatrai Road. | 2,46,930 | 1,10,360 | 3,20,600 | 3,78,000 | 2,70,580 |
| 12/92A | Road: Keshavrao Khade Road - from beyond Tardeo Road Junction to the Western Railway line. | 2,98,720 | 1,40,290 | 3,52,100 | 3,87,500 | 2,98,720 |
| 12/92B | Area: west of the sea, north of the zone limit, east of Lala Lajpatrai Road, south of the zone limit. | 3,57,030 | 1,42,720 | 4,67,300 | 5,84,300 | 3,87,090 |
| 12/92C | Area: properties under Dr. E. Moses Road occupied by slums. | 2,89,040 | 1,07,500 | 3,35,400 | 4,02,500 | 2,89,040 |
| 12/93 | Area: the triangular area north of Raosaheb Bole Road and Javle Road, east of the Western Railway line, south of Sayani Road and Bhatanakar Road. | 2,45,240 | 1,10,080 | 2,82,030 | 3,10,210 | 2,45,240 |
| 12/93A | Road: Rao Bahadur S.K. Bole Road - from Dadar Station to Sayani Road (TPS IV Mahim area). | 3,01,040 | 1,48,380 | 3,46,200 | 3,76,300 | 3,01,040 |
| 12/93B | Area: properties included in the One International Centre project. | 2,57,510 | 1,16,450 | 2,96,130 | 3,25,720 | 2,57,510 |
| 12/93C | Area: properties included in the One Indiabulls Centre project, situated in an area of more than 2 hectares. | 2,57,510 | 1,16,450 | 2,96,130 | 3,25,720 | 2,57,510 |
| 12/94 | Area: the area from Tilak Bridge to Elphinstone Bridge between the Central Railway and Western Railway. | — | 48,800 | — | — | — |
— means the schedule publishes no rate for that zone.
Stamp duty and registration charges for a flat
In Mumbai you pay 6% stamp duty (5% duty plus 1% metro cess) and a 1% registration fee, capped at ₹30,000, on your agreement value or Ready Reckoner value, whichever is higher. Here is the minimum for a 1,000 sq ft flat at this area's average flat rate.
- Ready Reckoner value
- ₹3.03 crore
- 1,000 sq ft × ₹30,285 per sq ft
- Stamp duty (6%)
- ₹18,17,100
- 5% duty + 1% metro cess
- Registration fee (1%)
- ₹30,000
- Capped at ₹30,000
- Minimum you pay
- ₹18,47,100
- If your price is higher, you pay more
- Women buying a home on their own pay 1% less stamp duty: 5% instead of 6%.
- At ₹50 lakh or more, the buyer also deducts 1% TDS from the payment to the seller.
If your agreed price is more than ₹3.03 crore, use the stamp duty calculator for Lower Parel area to see what you will pay on your actual price.
Buying a resale flat
New and resale flats in the same zone have the same Ready Reckoner rate. At the average ₹30,285 per sq ft here, a 1,000 sq ft resale flat has a Ready Reckoner value of about ₹3.03 crore, the least the government accepts when the sale is registered. Ready Reckoner guidelines lower the value of the building as it gets older and raise it on higher floors in buildings with a lift, so two resale flats in one zone can differ a little. The price you agree with the seller is often higher, and banks lend on their own valuer's report, not on Ready Reckoner rate.
Lower Parel Ready Reckoner rate FAQs
What is Ready Reckoner rate in Lower Parel per sq ft?
About ₹30,285 per sq ft (₹3,25,980 per sq m) for a flat in Lower Parel on average. Zone rates run from ₹19,158 to ₹49,725 per sq ft, so use the rate for your own zone.
Which part of Lower Parel has the highest Ready Reckoner rate?
Zone 12/89B at ₹5,35,240 per sq m (about ₹49,725 per sq ft). The lowest is zone 12/90 at ₹2,06,210 per sq m.
Is stamp duty in Lower Parel charged on Ready Reckoner rate or my agreement price?
On your agreement price, unless Ready Reckoner value is higher. A 1,000 sq ft flat at Lower Parel's average flat rate has a Ready Reckoner value of about ₹3.03 crore. If you pay more than that, duty is on your price.
Has Ready Reckoner rate in Lower Parel changed for 2026-27?
No. The 2026-27 rates are the same as 2025-26, so Lower Parel's average flat rate stays at ₹3,25,980 per sq m. The last change was on 1 April 2025.
Is Ready Reckoner rate in Lower Parel on carpet or built-up area?
Built-up area. The ASR guidelines convert carpet area with a factor of 1.1 or 1.2, depending on the area and year. So a 1,000 sq ft carpet flat counts as about 1,100 to 1,200 sq ft built-up. At Lower Parel's average ₹30,285 per sq ft, that is roughly ₹3.33 crore to ₹3.63 crore.
What is Ready Reckoner rate for shops in Lower Parel?
About ₹38,713 per sq ft (₹4,16,700 per sq m) on average, around 1.3 times the flat rate. Offices average ₹3,74,880 per sq m.
Ready Reckoner rates in other Mumbai City areas
Parel Sewri
Mumbai City · flat ₹21,073/sq ft, 30% lower than Lower Parel
Bhuleshwar
Mumbai City · flat ₹17,804/sq ft, 41% lower than Lower Parel
Fort
Mumbai City · flat ₹30,008/sq ft, about the same
Worli
Mumbai City · flat ₹36,024/sq ft, 19% higher than Lower Parel
Mahim
Mumbai City · flat ₹28,697/sq ft, 5% lower than Lower Parel
Marine Drive
Mumbai City · flat ₹39,724/sq ft, 31% higher than Lower Parel
See all 20 areas on the Mumbai City Ready Reckoner rate page, or compare Lower Parel with another area side by side.
Source: Annual Statement of Rates (Ready Reckoner) 2026-27 for Mumbai City, Department of Registration and Stamps, Government of Maharashtra. igrmaharashtra.gov.in