Ready Reckoner Rates in Bandra Kurla Complex, Mumbai

Introduction

Bandra Kurla Complex (BKC) is a prominent upscale commercial and residential hub in Mumbai spread over 370 hectares. Developed by the Mumbai Metropolitan Region Development Authority (MMRDA), BKC will serve as a growth center that will deconcentrate offices in the eastern parts of Mumbai.

Table of Contents

• Best Option Is to Invest in Bandra Kurla Complex
• What Is the Ready Reckoner Rate?
• Bandra Kurla Complex: Ready Reckoner Rates
• Bandra Kurla Complex Mumbai: Location and Connectivity
• Residential Properties

Mumbai’s strategic location and strong infrastructure make it a business and residential district, attracting significant investments. The development of BKC has made the Central Business District (CBD) of South Mumbai a coveted destination for real estate ventures.

Best Option Is to Invest in Bandra Kurla Complex

Bandra Kurla Complex is a lucrative investment destination for several reasons:

• Employment hub: BKC offers many employment opportunities and attracts a working-class population.
• Strategic Location: Its strategic locations and excellent connectivity enhance its appeal.
• Infrastructural development: continuous infrastructural development, including the upcoming BKC metro station, is a boon for the region.
• Rental demand: High demand for rentals driven by key corporate giants and social amenities. These factors make BKC a preferred choice for home buyers and investors.

What Is the Ready Reckoner Rate?

The ready reckoner rates are the minimum rates the government sets for property transactions in Mumbai. These are governed by the Inspector General of Stamps and Registration Department, Maharashtra (IGR Maharashtra). These rates are crucial for calculating stamp duty and registry charges.

Ready reckoner rates are also known as circle rates or guideline rates in other parts of the country. Prices vary based on the market value of an area and the amenities available. Understanding ready-made reckoner rates is essential for anyone involved in property transactions to ensure a fair and transparent valuation. Ready Reckoner Rates in Maharashtra were last revised in March 2022.

Bandra Kurla Complex: Ready Reckoner Rates

The Maharashtra government has officially set ready reckoner rates in the Bandra Kurla Complex (BKC) in India for the years 2023–24. These rates form the basis for calculating property values and determining the stamp duty during property transactions.

• Ready Reckoner Rate for BKC, Mumbai: Rates are available for various locations in BKC, including Parigha Creek and Kol Kalyan. Consider factors such as these rates, property type, location, and amenities.

• Average price per square foot: In BKC, the average price per square foot is around Rs. 37,042. This reflects the upscale nature of the area and its attractiveness for commercial and residential purposes.

• Rental Rates: If you are interested in renting a property in BKC, the average rent is around Rs. 1 lakh or above.

Bandra Kurla Complex, Mumbai: Location and Connectivity

Bandra Kurla Complex (BKC) is a buzzing commercial business district located in the heart of Mumbai. Strategically developed to decongest the crowded Central Business District (CBD) in South Mumbai. BKC has transformed into a bustling hub for businesses. It is home to major financial institutions, corporate offices, and commercial establishments, including The Capital, Pinnacle Corporate Park, and Godrej BKC.

BKC’s excellent connectivity is a major advantage for businesses. The proposed BKC Metro station, which is expected to be operational soon, will provide seamless connectivity to other parts of Mumbai. Additionally, BKC’s proximity to both Western and Eastern Expressway highways makes it easily accessible by road.

BKC is also a sought-after location due to its close proximity to the Mumbai International Airport, which is only a 20-minute drive away. This makes it easier for businesses to connect with clients and stakeholders from other parts of the world.

BKC’s development has also led to the growth of the hospitality sector in the area. There are several high-end hotels, restaurants, and cafes in the vicinity, making it an ideal location for meetings, conferences, and business events.

Residential Properties

BKC has malls that cater to the needs of the local market, such as Phoenix Market City in Kurla. Ongoing development of the metro increases its attractiveness for residential and commercial investments. Prominent schools, including Dhirubhai Ambani International School and Mount Litera International School, dot BKC’s residential landscape.

Home to the Mumbai Cricket Association’s cricket ground, the area also has well-developed medical infrastructure. The housing inventory primarily consists of 2BHK, 3BHK, and 4BHK units. The average rental house price here is Rs. 31,000.

Conclusion

Keep in mind that these rates may change based on market dynamics and government policies. Whether you’re an investor or a potential resident, understanding ready rates can help you make informed decisions in the real estate market. And for more information, visit our OpenPlot

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