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Maharashtra's Unchanged Ready Reckoner Rates Bolster Real Estate Confidence

Published: April 02, 2026 | Category: Real Estate Maharashtra
Maharashtra's Unchanged Ready Reckoner Rates Bolster Real Estate Confidence

Real estate developers in Maharashtra's Thane region have expressed approval for the state government's decision to keep ready reckoner rates unchanged. This move is perceived as a stabilizing factor for the real estate sector, especially amidst global economic uncertainties.

The Thane chapter of the Confederation of Real Estate Developers' Associations of India (CREDAI) released a statement on Thursday praising the decision. The unchanged rates are expected to boost confidence among homebuyers and investors, despite the current volatile global economic landscape.

According to Sachin Mirani, President of the Thane CREDAI, maintaining stable ready reckoner rates allows developers to plan and price their projects more effectively. 'This decision provides much-needed stability in a time when the global economy is facing significant challenges,' Mirani stated. 'It will help developers to better manage their financial planning and ensure that projects remain viable.'

The state government avoided a proposed 12 to 14 percent increase due to the ongoing West Asia crisis and related global conditions, as announced by Revenue Minister Chandrashekhar Bawankule. The decision to keep the rates unchanged is seen as a proactive measure to protect the real estate market from external economic pressures.

Real estate is a crucial sector in Maharashtra, and the Thane region, in particular, has seen significant growth over the past few years. The stability in ready reckoner rates is expected to further attract both domestic and international investors. 'The unchanged rates will also help in maintaining the affordability of homes for first-time buyers,' added Mirani.

The CREDAI Thane chapter also highlighted the importance of this decision in the context of the broader economic environment. 'While the global economic situation remains uncertain, this move by the state government sends a positive signal to the market,' said Mirani. 'It shows that the government is committed to supporting the real estate sector and ensuring its sustained growth.'

In conclusion, the decision to keep ready reckoner rates stable is a welcome step for the real estate industry in Thane and Maharashtra. It not only boosts confidence among developers and investors but also ensures that the market remains resilient in the face of global economic challenges. The Thane CREDAI and other industry stakeholders are optimistic about the future of the real estate sector in the region.

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Frequently Asked Questions

1. What are ready reckoner rates?
Ready reckoner rates are the minimum rates at which a property can be registered. These rates are set by the government and are used to calculate stamp duty and other registration charges for property transactions.
2. Why did the Thane CREDAI praise the decision to keep ready reckoner rates unchanged?
The Thane CREDAI praised the decision because it provides stability and predictability for developers, allowing them to plan and price their projects more effectively. It also boosts confidence among homebuyers and investors.
3. What is the impact of global economic uncertainties on the real estate sector?
Global economic uncertainties can lead to reduced investment and increased volatility in the real estate market. Stable ready reckoner rates help to mitigate these effects by providing a sense of stability and predictability.
4. How does the decision affect first-time homebuyers?
The unchanged ready reckoner rates help maintain the affordability of homes for first-time buyers. This makes it easier for them to enter the property market and secure a home.
5. Who is Sachin Mirani and what is his role?
Sachin Mirani is the President of the Thane chapter of the Confederation of Real Estate Developers' Associations of India (CREDAI). He represents the interests of real estate developers in the Thane region.