By Girish Chhalwani, Co-Founder, Lords of the Lands · ~9 min read · Last updated: 23 September 2026

Has Karjat land actually appreciated? What the government’s own record shows

Yes, but the government’s own published record — not a marketing claim — shows the increase has been small and uneven, not a steady double-digit climb.

Every plot in Maharashtra sits inside a village and a zone with its own Annual Statement of Rates (ASR), revised (or left unchanged) by the state government roughly once a year. Because each year’s ASR is a dated, published document, it is the one land-value series for Karjat that a reader can independently reconstruct — not take on faith. Pulled year by year for one real, named Karjat zone (detailed below), the published rate rose only 6.9% in total over eight ready-reckoner cycles, almost all of it in a single mid-2020 revision. That is the actual government record — a useful anchor, and a very different number from the appreciation percentages that circulate in Karjat real-estate marketing.

What is the ready-reckoner (ASR), and why is its history a real value record?

The ready reckoner — formally the Annual Statement of Rates (ASR) — is the state government’s own valuation of land and built property for every village, zone and survey number in Maharashtra, prepared under the Maharashtra Stamp (Determination of True Market Value of Property) Rules, 1995, and published by the Inspector General of Registration (IGR).

A sub-registrar cannot register a sale below this rate, so it functions as a legal floor for stamp duty, and it is re-notified (typically effective 1 April, occasionally mid-year) every financial year. Because it is a dated government publication rather than a private compilation, its year-over-year record is directly verifiable by anyone — which is exactly what makes it usable as a value trend, and exactly why generic AI answers about “Karjat appreciation” cannot generate it: they were not built by opening the actual year-by-year notifications.

How to pull Karjat’s own ASR history yourself, for any year

Anyone can reconstruct a village’s ASR history directly from IGR Maharashtra — it takes selecting a year, a location, and a zone, repeated for each financial year you want.

The portal is confirmed live as of this writing:

1. Go to igrmaharashtra.gov.in and open the e-ASR service under the Stamps section — either the stable tool at easr.igrmaharashtra.gov.in, or the newer eASR 2.0 (beta) at igreval.maharashtra.gov.in/eASR2.0.
2. Select the financial year you want (each year’s ASR is a separate notification; the portal holds the historical years, not only the current one).
3. Select Raigad district → Karjat taluka → the specific village.
4. Narrow to the CTS/Survey-number zone and sub-zone that covers the exact plot — Karjat’s rates vary sharply block by block, so a taluka or village “average” is not what a sub-registrar will apply.
5. Note the open-land rate (₹/sq.m) shown alongside the built-up rates for residential, office, shop and industrial use.
6. Repeat step 2–5 for each year you want, and line the rates up yourself — the portal does not always plot a multi-year chart, so the reconstruction is manual.

For a rural, non-agricultural-potential plot rather than a municipal zone, the same steps apply — only the zone and rate structure differ (rural ASR is often expressed per hectare for agricultural land and per sq.m for land with NA potential).

Karjat’s ready-reckoner history, year by year: a worked example

Reconstructed exactly this way for one real, named Karjat zone — Zone 1 / Sub-Zone 1/1, the Station Road commercial pocket inside Karjat Municipal Council limits — the published open-land rate barely moved for most of the last eight years.

This is a worked example, not a taluka-wide average: every plot’s own zone must be checked separately (step 4 above).

Recalculated ourselves from this table: ₹11,600 → ₹12,400 over eight ready-reckoner cycles (FY2016-17 to FY2024-25) is a total rise of 6.9%, or a compound annual growth rate (CAGR) of (12,400 ÷ 11,600)^(1/8) − 1 = 0.84% a year. Nearly all of the movement is one mid-year revision (11 September 2020); every other year in this specific zone shows a flat 0% change, including three full years running into FY2024-25.

What this CAGR does — and does not — tell you

A 0.84% ASR CAGR does not mean Karjat land has only gained 0.84% a year in the open market — it means the government’s own valuation floor has moved that slowly, which is a different, narrower fact.

The ASR exists to set a stamp-duty minimum, not to track transaction prices; state governments routinely leave it unrevised for years at a time (as this table shows) regardless of what plots are actually changing hands for, and a revision, when it comes, is a policy decision as much as a market read. Treat the ASR series as a floor-and-cost input — useful for verifying what stamp duty and (since 31 December 2025) the one-time NA premium will cost on a given survey number — and treat any open-market appreciation figure as a separate claim that needs its own separate source. Illustrative Example (a hypothetical, not a Lords of the Lands transaction or projection): a plot bought and sold in the open market inside this same zone could show a very different, higher or lower, actual price change than 0.84% a year — the ASR simply cannot tell you that, and neither can this post.

Why “appreciation in a decade” claims you see online don’t hold up

Large, round appreciation percentages attached to a specific corridor — without a named, checkable source — are a marketing pattern, not a data point, and this post deliberately does not repeat one.

The verifiable government record above shows a single Karjat zone’s published value floor rising under 7% in total across eight years, with most of that in one step. A claim of appreciation many multiples higher than that, offered with no source beyond “sources say” or a listing portal, cannot be reconciled against the one land-value series that is actually public record — and this is exactly the gap between a sourced number and a viral one. If you are shown an appreciation percentage for any Karjat, Khopoli or Raigad plot, ask for the same thing this post gives you: the specific years, the specific zone, and a source you can open yourself.

What changed on 31 December 2025 — and how it connects to the ASR figure

Since 31 December 2025, the ASR value for a plot does more than set the stamp-duty floor — it is also the base on which a one-time NA (non-agricultural) conversion premium is now calculated, under the Maharashtra Land Revenue Code (Second Amendment) Act, 2025.

That mechanism — the premium bands, and Karjat’s current infrastructure pipeline — is covered in full in our companion post on what sets Karjat plot prices in 2026; this post’s job is narrower: the multi-year value record itself, and how to pull it. As of September 2026, Maharashtra’s ASR is frozen for FY2026-27 at FY2025-26 levels statewide (confirmed 31 March 2026), following a 2025-26 revision that averaged 4.39% outside Mumbai and 3.39% within the Brihanmumbai Municipal Corporation area. Whether that statewide average reached this specific Karjat sub-zone should be confirmed directly on the eASR portal.

FAQ

Before you buy

Related reading

Karjat & nearby land

• Karjat vs Khopoli for land
• Khopoli land in 2026
• Neral land in 2026
• Khalapur land in 2026
• Upper Alibaug land in 2026
• Alibaug vs Karjat premium
• Comparing the land corridors

Infrastructure driving value

• What the new airport changed for Raigad land
• Mumbai 3.0 infrastructure in 2026 – the projects reshaping Raigad
• Navi Mumbai airport status – where NMIA stands now
• Atal Setu and Raigad land – how the sea link shortened the map
• The Panvel–Karjat rail corridor
• Why infrastructure timelines slip
• Samruddhi Mahamarg land

Prices, checks & strategy

• Stamp duty on a Raigad plot
• The real cost of buying a plot – beyond the sticker price
• How to read a 7/12 extract
• The land title checklist
• The real risks in emerging corridors
• Land banking near Mumbai
• Which areas are appreciating near Mumbai

• What sets Karjat plot prices in 2026: the ready-reckoner floor, the NA premium and the infra pipeline
• Is a plot NA? How to check in Maharashtra in 2026
• Ready reckoner rate in Karjat & Khopoli 2026-27, plus stamp duty, worked example

Citations and sources

Figures, rules and timelines in this guide are drawn from Maharashtra government records and official portals; verify every plot’s records independently before you transact. This is general information, not legal, tax or investment advice. Official sources: MSRDC · IGR Maharashtra · CIDCO / NAINA.