Mumbai witnessed a significant increase in property registrations in March 2025, driven by the impending hike in reckoner rates. The real estate market experienced a surge as buyers rushed to finalize their purchases before the increase took effect.
Property RegistrationsReal EstateMumbaiReckoner RatesHousing MarketReal Estate MaharashtraApr 02, 2025
The reckoner rate, also known as the ready reckoner rate, is the rate at which the government values properties for the purpose of calculating stamp duty and registration fees. It is used to determine the value of a property for legal and financial transactions.
Property registrations surged in March 2025 in Mumbai due to the impending hike in reckoner rates, which was scheduled to take effect from April 1, 2025. Buyers rushed to finalize their purchases to avoid the higher costs associated with the new rates.
The increase in reckoner rates makes it more expensive for property buyers to register their properties, as the stamp duty and registration fees are calculated based on the higher rate. This can increase the overall cost of purchasing a property.
The suburban areas of Mumbai saw the highest increase in property registrations. These areas experienced a significant surge in housing registrations as buyers took advantage of the lower reckoner rates before the hike.
The reckoner rate hike is likely to have a short-term impact on the real estate market by increasing the cost of property purchases. However, its long-term impact on property prices and market dynamics will depend on various economic and policy factors.
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