Around 63% MMR property deals in FY20 at 20% premium to reckoner rates: Report

MUMBAI: Around 63% of sale transactions concluded in Mumbai Metropolitan Region during financial year 2019-20 were recorded at a 20% premium to ready reckoner rates, showed a study by data analytics firm Propstack.

While ready reckoner premiums vary across the Mumbai region, the percentage of transactions above 20% was highest in Thane and peripheral markets beyond that, and lowest in South and central Mumbai.

Around 8% of deals during the year ended March were below ready reckoner rates. The highest percentage of transactions below ready reckoner rates were recorded in south Mumbai with 23% deals and 16% in central Mumbai, the data showed.