Maharashtra Government Halts 12-14% Ready Reckoner Rate Hike Amid Global Uncertainty
Mumbai, Maharashtra Revenue Minister Chandrashekhar Bawankule on Wednesday said the state government avoided a proposed 12 to 14 per cent increase in ready reckoner rates this year in view of the ongoing West Asia crisis and resulting global conditions.
The Inspector General of Registration every year submits a proposal to the government suggesting a hike in the ready reckoner rates. The ready reckoner rate is the minimum rate based on which the government charges registration fees and stamp duty for any property-related transaction.
Talking to reporters, Bawankule said, 'The government rejected the proposed increase in property rates to protect public interest considering the prevailing global situation.'
He said micro-zoning would be implemented in metropolitan cities, such as Mumbai, Pune, Thane, Nagpur and Chhatrapati Sambhajinagar, under which property rates would be determined based on local amenities. 'Rates will be applied based on the value of each property and not uniformly,' he said, adding that rates were simplified in line with changes in development plans and regional plans.
The minister said encroachments of up to 1,500 square feet constructed before January 1, 2011 on government land or within layouts would be regularised, subject to conditions including residence in Maharashtra and inclusion in the 2011 voters' list. He said action would be taken against constructions beyond 1,500 square feet.
Bawankule said the land measurement process would be made cheaper and faster with the launch of 'Version 2' software by the land records department. Measurement charges would be reduced to ₹200 per subdivision, bringing down costs from around ₹10,000 to ₹1,000, Bawankule said, adding that property data would be stored on iCloud and processing time would be reduced.
According to him, quasi-judicial revenue cases must be disposed of within 90 days in two hearings. The minister said action would be taken against those blocking access roads to farms, including blocking their government scheme IDs for five years.
