Maharashtra Maintains Ready Reckoner Rates for 2026-27 Amid Economic Uncertainties

PUNE: The Maharashtra government has retained the ready reckoner (RR) rates for the upcoming financial year, 2026-27. Joint Inspector General of Registration (IGR) Rajendra Muthe announced this decision on Tuesday. Despite the IGR department marginally missing its revenue target for 2025-26, collecting ₹60,568.94 crore, which is about 95.38% of its target of ₹63,500 crore, the government decided to maintain the status quo.

Muthe told Hindustan Times, “We have strictly followed the state government’s directive not to increase RR rates. Considering factors such as the prevailing global situation, national scenario, and overall economic conditions, it was decided to maintain the status quo.” He further explained, “Our endeavor is to support market stability, encourage property transactions, and protect homebuyers, even though it has contributed to a slight shortfall in revenue collections.”

The IGR’s annual financial performance report and rate guidelines are issued on April 1 under the Maharashtra Stamp (Determination of True Market Value of Property) Rules, 1995. Data shared by the department shows that RR rates have seen periodic revisions over the years. The state recorded a 5.86% increase in 2017-18, followed by no change in 2018-19 and 2019-20 due to a slowdown in the real estate sector. During the Covid-19 pandemic in 2020-21, rates were revised marginally by 1.74%. In 2022-23, RR rates were increased by 4.81%, and the same rates continued through 2023-24 and 2024-25. For 2025-26, the average increase stood at 4.39% across the state (excluding Mumbai), while the Mumbai Metropolitan Region recorded an average rise of 3.39%, as per an official statement.

Manish Jain, president of CREDAI Pune, welcomed the decision. “We wholeheartedly welcome the government’s move to keep RR rates unchanged. We have consistently urged for the status quo, and this decision reflects a practical and industry-sensitive approach,” Jain said. “For most families, buying a home is one of the biggest financial commitments. Price stability is crucial, and this decision will help preserve affordability and confidence, especially in the mid-income and affordable housing segments,” he added.

Kapil Gandhi, convenor of the media committee, Confederation of Real Estate Developers’ Association of India (CREDAI) Maharashtra, also supported the decision. “Historically, periods of stable RR rates have led to stronger revenue collections as improved buyer sentiment drives higher transaction volumes. It’s a win-win for homebuyers, developers, and the government,” he said. Gandhi noted that the decision is timely, given global uncertainties and rising input costs linked to geopolitical tensions.

Maharashtra revenue minister Chandrashekhar Bawankule reiterated the government’s stance. “The Fadnavis government has taken a decision regarding RR rates considering the current global situation and the slowdown in the construction sector,” he said. “There is no increase in the rates for the new financial year starting April 1. The rates applicable for 2025-26 have been retained for 2026-27 as well, providing significant relief to both developers and homebuyers.”

According to Bawankule, the decision has been taken after positively considering suggestions from CREDAI and document writers. “It is expected that this move will give a fresh boost to the construction sector and help stimulate economic activity,” he concluded.