It is well known that the capacity of spatial multiplexing multiple-input multiple-output (SM-MIMO) system employing optimal antenna selection can significantly outperform a system without selection for same number of costly radio frequency chains. However, it requires an exhaustive search for the optimal selection (OS) that grows exponentially with the available number of transmit (u) and receive (m) antennas. In this paper, a novel low complexity receive antenna selection (RAS) technique is proposed for SM-MIMO to maximize the channel capacity over correlated Rayleigh fading environment. It is based on the Euclidean norms of channel matrix rows and the corresponding phase differences due to their direct impact on the capacity. Extensive analysis and simulations have shown near optimal performance for any signal-to-noise-ratio and correlation values with low complexity of $${\mathcal{O} \left({u^{2}m}\right)}$$ vector calculations. This technique provides fast RAS to capture most of the capacity gain promised by multiple antenna systems over different channel conditions. Furthermore, it enables efficient spectrum utilization for next generation wireless communications.