Maharashtra has revised its ready reckoner (RR) rates, which are used to calculate stamp duty for real estate transactions. The impact on flat prices in Mumbai and other cities is a topic of significant interest. Here’s what you need to know.
Real EstateReady ReckonerProperty PricesStamp DutyMaharashtraReal Estate MaharashtraApr 02, 2025
Ready reckoner rates are official government rates that provide a benchmark for the value of properties in different areas. They are used to calculate stamp duty and other registration fees for property transactions. These rates are important because they ensure transparency and fairness in the real estate market.
Ready reckoner rates in Maharashtra are revised bi-annually to ensure they remain in line with the current market conditions.
The new RR rates in Mumbai show a modest increase, ranging from 5% to 10% in most areas. This is expected to have a limited impact on flat prices and transaction costs, especially compared to other cities in Maharashtra.
In cities like Thane and Navi Mumbai, the increase in RR rates is more significant, ranging from 10% to 15%. This could lead to higher transaction costs, making property purchases more expensive for homebuyers in these areas.
The government’s goal in revising the RR rates is to align them with the current market conditions, reduce underreporting of property values, and promote transparency and fairness in the real estate market.
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