Maharashtra Maintains Ready Reckoner Rates for FY27 to Ease Property Transactions

NEW DELHI: The Maharashtra government has announced that it will maintain the status quo on ready reckoner (RR) rates for the financial year 2026-27. This decision is part of a broader strategy to ease the financial burden on citizens and provide stability to the real estate sector.

The Office of the Inspector General of Registration and Controller of Stamps has confirmed that the rates effective from April 1, 2026, will remain the same as those in FY26. Revenue Minister Chandrashekhar Bawankule emphasized that this move is intended to avoid additional financial strain on citizens during property transactions.

Sukhraj Nahar, president of CREDAI-MCHI, welcomed the decision. He stated, 'By refraining from any upward revision in RR rates, the government has provided critical stability to the real estate sector, while preserving project viability by preventing an escalation in statutory premiums and associated costs that are intrinsically linked to Ready Reckoner valuations.'

The stability in RR rates is expected to have a positive impact on the real estate market. It will help maintain the balance between buyers and sellers, ensuring that property transactions remain affordable and feasible for a broader segment of the population.

In terms of financial performance, the Maharashtra government reported that stamp duty and registration collections stood at ₹60,568.94 crore for FY26 (till March 30), with the ‘I-Sarita’ digital system contributing ₹49,534 crore. For FY27, the government has set a revenue target of ₹68,600 crore from stamp duty and registration.

The decision to keep RR rates unchanged is a strategic move to support the real estate sector, which has been facing various challenges. By maintaining these rates, the government aims to foster a conducive environment for both buyers and sellers, ultimately contributing to the overall economic growth of the state.

This move is expected to boost confidence among developers and homebuyers, potentially leading to increased property transactions and a more vibrant real estate market. The government's focus on maintaining stability in RR rates is a step towards ensuring that the real estate sector remains resilient and adaptive to changing economic conditions.

In conclusion, the Maharashtra government's decision to keep ready reckoner rates unchanged for FY27 is a well-thought-out strategy to support the real estate sector and ease the financial burden on citizens. This move is likely to have a positive impact on the market, fostering growth and stability in the coming year.