Micro-Zoning, RR proposal: A reform opportunity

Mumbai: The government’s proposed introduction of micro-zoning and differentiated Ready Reckoner (RR) rates marks a significant shift in the way property valuations are determined across the state. The initiative, which seeks to assign distinct RR rates to high-rise buildings, slums, chawls and redeveloped properties within the same locality, has largely been welcomed by the real estate sector. Industry stakeholders, however, caution that the reform’s effectiveness will depend less on its...

min read

Micro-Zoning, RR proposal: A reform opportunity

Mumbai: The government’s proposed introduction of micro-zoning and differentiated Ready Reckoner (RR) rates marks a significant shift in the way property valuations are determined across the state. The initiative, which seeks to assign distinct RR rates to high-rise buildings, slums, chawls and redeveloped properties within the same locality, has largely been welcomed by the real estate sector. Industry stakeholders, however, caution that the reform’s effectiveness will depend less on its intent and more on the framework governing its implementation. The proposal comes at a time when property markets in major urban centres, particularly Mumbai Metropolitan Region (MMR), are witnessing increasingly diverse development patterns within the same neighbourhoods. Experts argue that uniform RR rates often fail to capture the substantial variations in infrastructure quality, redevelopment status, accessibility and market demand that exist even within small geographical pockets. Real estate professionals believe that a micro-zoning approach could help bridge the gap between official property valuations and actual market realities. More accurate valuation mechanisms can improve transparency in transactions, provide a fairer basis for stamp duty calculations and create a more nuanced framework for urban planning. Experts’ Comments Kamlesh Thakur, President, NAREDCO Maharashtra and Co-Founder & Managing Director, Srishti Group, believes the concept has merit but warns that the execution framework will determine whether the reform succeeds or creates fresh challenges. “The concept of micro-zoning and differentiated Ready Reckoner rates has the potential to make property valuation more reflective of local market realities and development potential. However, its success will depend entirely on the framework adopted for implementation. Unless there is a clear, transparent and objective policy with well-defined parameters, the introduction of micro-zoning could lead to increased discretion at the administrative level, resulting in uncertainty and inconsistent outcomes,” he said. According to Thakur, valuation systems that allow excessive room for subjective interpretation can generate disputes, create inconsistencies in assessments and undermine business confidence. His concerns reflect a broader industry apprehension that redevelopment projects—already burdened by lengthy approval processes and rising costs—could face additional uncertainty if valuation criteria vary across administrative jurisdictions. Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory, views the proposal as a logical evolution of property valuation practices, particularly in rapidly transforming urban markets. “The move towards differentiated Ready Reckoner rates through micro-zoning is a progressive step, as property values can vary significantly within the same locality depending on factors such as infrastructure, accessibility, building quality and surrounding development. If implemented effectively, it has the potential to make property valuations more realistic and aligned with actual market dynamics,” he said. Transparency, Methodology At the same time, Agarwal emphasized that transparency and data quality will be critical to ensuring credibility. “However, the success of this initiative will depend on the transparency of the methodology, the quality of data used, and the consistency of its application across micro-markets. Buyers, investors, and developers value clarity and predictability in valuation mechanisms. A well-defined and publicly accessible framework will be essential to avoid ambiguity, strengthen market confidence, and ensure that the new system delivers greater accuracy without creating uncertainty in transaction pricing or investment decisions,” he noted. Uniformly Implemented Echoing similar concerns, Dhruman Shah, Promoter, Ariha Group, said the government must ensure that the system remains easy to understand and uniformly implemented. “The move towards micro-zoning reflects an effort to modernize property valuation and make it more representative of actual market conditions. However, it is important that the system remains simple, transparent and uniformly enforced across regions. If multiple layers of interpretation emerge during implementation, it could lead to disputes and delays, particularly for redevelopment projects that already involve complex approval processes. Industry consultation at every stage will help create a practical and effective framework,” Shah said. As the state explores one of the most significant changes to its property valuation mechanism in recent years, the industry appears broadly supportive of the objective. Yet the consensus remains clear: the success of micro-zoning will depend on transparency, consistency and stakeholder consultation. Without these safeguards, a reform intended to improve valuation accuracy could inadvertently introduce new layers of uncertainty into an already complex real estate ecosystem.

Shiv Sena (UBT) rattled in Dahisar

Quaid Najmi
Dec 15, 2025
3 min read

Tejasvee, widow of slain corporator Abhishek Ghosalkar joins BJP

Mumbai: In a severe poll-eve jolt to the Shiv Sena (UBT), its former BrihanMumbai Municipal Corporation (BMC) corporator Tejasvee A. Ghosalkar abruptly quit to join the Bharatiya Janata Party (BJP) on Monday.

Tejasvee is the widow of the popular former corporator Abhishek Ghosalkar who was shot dead on Feb. 8, 2024, during a Facebook Live interaction with his local constituents, sending shockwaves in political circles.

Incidentally, Tejasvee’s father-in-law is the SS (UBT) strongman, ex-MLA Vinod Ghosalkar, who also served as Chairman of Mumbai Building Repairs & Reconstruction Board. A municipal corporator from 2017-2022, Tejasvee’s switchover is likely to enhance the BJP’s prospects in the Dahisar west area where the Ghosalkars and the SS (UBT) held sway for several decades.

The development comes as a massive smash to the SS (UBT) north Mumbai unit which was hoping to encash on the ‘sympathy wave’ generated after Abhishek Ghosalkar’s killing by a local goon Mauris Noronha, who committed suicide minutes later in the IC Colony area of Borival west.

Tejasvee, who visited and offered prayers at the Siddhivinayak Temple in Prabhadevi after joining the BJP, has justified her move on grounds that the decades of work by the Ghosalkar family at the grassroots level (Ward No. 1) is not hampered.

Earlier, she and her supporters were welcomed to the party fold by Mumbai BJP President Ameet Satam when she acknowledged that while the SS (UBT) gave her a political identity, she “was very keen to work with the BJP for the development of her region”.

“I always wanted to strive towards development… I am ready to accept any responsibility given by the party. I am confident that under the leadership of Chief Minister Devendra Fadnavis, we shall continue to strengthen the work at the ground level,” said Tejasvee, who was peeved after the SS (UBT) denied her a ticket in the Nov. 2024 Assembly elections.

Earlier, she had targeted the ruling MahaYuti for the tardy pace of the investigations into her husband’s killing and expressed disappointment at the lack of progress even by the CBI which was handed over the case in Sep. 2024.

The young, educated, and outgoing couple was a favourite among the cosmopolitan population of Dahisar west as the (undivided) Shiv Sena considered it as one of its key strongholds for many decades.

The Ghosalkars were known to be very close to the Thackeray clan since the days of the late (undivided) Shiv Sena founder-patriarch, the late Balasaheb Thackeray.

BJP ‘lure’ via co-op. bank post

After she was rebuffed for a ticket in the Nov. 2024 Assembly elections, in favour of her father-in-law Vinod Ghosalkar (who lost), speculation was rife on Tejasvee A. Ghosalkar’s political moves but she clarified her position to the SS (UBT) President Uddhav Thackeray, ex-CM.

In June 2025, political motormouths went into hyper-buzz after she was appointed a Director of the BJP-dominated Mumbai District Central Cooperative Bank, raising eyebrows even in the SS (UBT).

She quickly went to meet the SS (UBT) chief and made it clear that “Uddhav Thackeray is the head of our family”, but she was fulfilling the dreams of her late husband by taking her maiden plunge into the cooperative sector through MDCCB.