Maharashtra Property Registrations Soar Despite RR Rate Hike
Property registrations in Maharashtra remain robust despite the recent hike in ready reckoner (RR) rates. The state has already collected nearly half of its annual target from stamp duty and registration fees, indicating strong market sentiment.
Property RegistrationsReady Reckoner RatesReal EstateMaharashtraStamp DutyReal Estate PuneOct 14, 2025
Ravindra Binwade, the state inspector general of registration and stamps, stated that the steady property registrations and robust high-value transactions have driven this growth. “The property registrations have remained steady since April, and the rise in RR rates hasn’t had any negative impact. We’ve also seen consistent monthly registrations and a buoyant real estate market,” he told TOI.
Between April and September this year, a total of 22.2 lakh documents were registered across the state, compared to 21 lakh during the same period last year. The department recorded its highest revenue in July at Rs 5,156 crore, followed by September at Rs 5,099 crore. The RR rates increased by an average of 3.9% starting April, but the revision was reasonable and came after a three-year pause.
“We’re also actively promoting digitisation and upgrading systems to improve operational efficiency,” Binwade added, expressing confidence that the department will achieve and potentially surpass its annual revenue target. A senior official from the revenue department indicated that the trend of exceeding revenue targets for two consecutive years is expected to continue. “With steady growth in the real estate sector and stable property prices, revenue collections could surpass Rs 65,000 crore this financial year,” the official said.
Shantilal Kataria, executive council member of Credai National, noted that the real estate market has maintained strong momentum since Dasara. “Sales have picked up and are expected to remain robust through Diwali and the year-end. Buyers now have a wide range of options across locations and budgets, which is driving property registrations,” he told TOI.
Kataria added that increased supply, festive discounts, and a slower pace of price escalation compared to inflation have kept homes relatively affordable. “Supply is currently at its highest in the past five years, helping stabilise prices,” he said. While the reduction in GST on construction material has improved developer margins, experts believe these savings may not be passed on to buyers. “Sales are already strong, so developers are unlikely to offer further price cuts at this stage,” a developer said.
Officials are confident that final collections will likely exceed the Rs 63,500 crore target, given that the October-December period, typically the strongest for revenue generation, is yet to come. Anuj Puri, chairman of Anarock Group, highlighted the factors driving this upward trend. “This upward trend is fuelled by accelerated infrastructure development, a surge in luxury and premium project launches, and a favourable policy environment. Maharashtra stands out as the most robust and resilient state in India in terms of real estate performance and growth,” he said.
Frequently Asked Questions
What is the current financial year's target for stamp duty and registration fees in Maharashtra?
The current financial year's target for stamp duty and registration fees in Maharashtra is Rs 63,500 crore.
How much has Maharashtra collected in stamp duty and registration fees by October 12?
Maharashtra has collected Rs 29,795 crore in stamp duty and registration fees by October 12, which is 46.9% of the annual target.
What is the average increase in ready reckoner (RR) rates in Maharashtra?
The average increase in ready reckoner (RR) rates in Maharashtra is 3.9%.
What factors are driving the robust property registrations in Maharashtra?
The robust property registrations in Maharashtra are driven by steady high-value transactions, consistent monthly registrations, a buoyant real estate market, increased supply, festive discounts, and stable property prices.
What is the expected revenue collection for the current financial year?
The expected revenue collection for the current financial year is expected to surpass Rs 65,000 crore, given the strong market sentiment and the upcoming strong revenue generation period from October to December.
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