Introduction
Mumbai is home to one of the most expensive property markets in the world. It prohibits investment in its housing market. However, areas adjacent to India’s financial capital are becoming great alternatives amid infrastructure upgrades. Thane has topped the list of such places.
Table of Contents
- What Is the Ready Reckoner Rate?
- Ready Reckoner Rate 2024 in Thane District, Nehru Nagar
- Factors Affecting Ready Reckoner Rates
- Why Invest in Nehru Nagar, Thane?
Nehru Nagar in Thane: Bhiwandi is becoming an option for home buyers. Investing in the Nehru Nagar area will yield a good return on investment. However, a home buyer must know how much it will cost to buy a property in Nehru Nagar, Thane, based on the ready reckoner rate of the area in 2024.
What Is the Ready Reckoner Rate?
The ready reckoner rate is the minimum value attached to various assets by the state government. Also known as circle rate, collector rate, district collector rate, and guideline value. The Ready Reckoner (RR) rate is the standard used to arrive at the government-approved value of a property. Stamp duty and registration fees on the property are calculated based on an easily calculated rate.
Ready Reckoner Rate 2024 in Thane District, Nehru Nagar
New calculation details of Ready Reckoner Rate 2024 in Thane District, Nehru Nagar, are as follows:
| Area | Land (in Rs) | Industrial (in Rs) | Residential (in Rs) |
| Survey No 12/113-Ward no. 15/58 | 6,800 | 38,500 | 33,500 |
| Survey No 12/114-Ward no. 16/59 | 6,800 | 38,800 | 33,700 |
| Survey No 12/117-Ward no. 40/2 | 10,800 | 40,600 | 47,700 |
| Survey No 12/119-Ward no. 41/2 | 7,300 | 39,200 | 34,100 |
| Survey No 12/122-Ward no. 43 | 6,800 | 38,500 | 33,500 |
| Survey No 12/123-Ward no. 48 | 8,300 | 35,300 | 41,200 |
| Survey No 12/124-Ward no. 52 | 7,700 | 40,200 | 34,600 |
| Survey No 12/125-Ward no. 53 | 9,000 | 41,400 | 36,000 |
| Survey No 12/128-Ward no. 56 | 7,400 | 43,200 | 37,600 |
Factors Affecting Ready Reckoner Rates
- Location: The location of the property affects the circle rates. Circle rates are higher in city neighborhoods than in rural areas.
- Connectivity: Ready reckoner rates are affected by connectivity. Areas close to transport hubs, such as airports and railway stations, have higher ready reckoner rates.
- Demand and Supply: The overall property demand and supply in a particular area affect the ready reckoner rates. High demand with limited supply may lead to high RR rates.
- Amenities: The availability of amenities, such as good roads, transportation, infrastructure, and shopping malls, determines the circle rates.
Why Invest in Nehru Nagar, Thane?
The real estate landscape in Bhiwandi is constantly expanding. Offering profitable opportunities for all types of investments. A major contributing factor is the significant increase in tall buildings. In addition, there is fast and cost-effective connectivity and well-developed infrastructure.
Factors such as property prices increase the attractiveness of the area to prospective investors. The region has succeeded as an industrial hotspot. It also led to a real estate boom. Property values increased in areas of Bhiwandi, including Nehru Nagar.
Conclusion
It is important to be aware of the current rates while buying a property for informed financial planning. Apart from property valuation, it is necessary to calculate ancillary costs like stamp duty and registration fees. The cost of your property can have a profound effect on your tax savings. For more information, visit Openplot.
Also read: Dhokali Real Estate: Ready Reckoner Rate In Dhokali, Thane