Unchanged Ready Reckoner Rates to Boost Real Estate Market in Maharashtra

PUNE: The ready reckoner (RR) rates will remain unchanged in the state in the new financial year despite proposals for an increase from all districts, state registration officials announced on Tuesday.

Revenue Minister Chandrashekhar Bawankule told TOI, “Keeping in mind the current global situation and slowdown in the construction sector, and after considering representations and suggestions from stakeholders, the government has decided to keep the RR rates to boost the real estate sector. Market values have been determined keeping realistic property valuations in mind.”

RR rates were up by an average of 3.9% for 2025-26, and the state could realize 95% of its full revenue target. The last increase was in 2022-23 when it was up by 5%. The minister added that in areas where new Development Plans (DPs) have been implemented, residential rates will come into effect, leading to changes in valuation zones in 10 districts and one corporation area. In the PMRDA region, where the DP has been scrapped, earlier rates will continue as the regional plan remains in place.

Joint IGR Rajendra Muthe said the construction industry wanted the rates kept stable considering the global situation and its impact on the industry. “The RR rates will change only in areas where the DP has been approved or revised. The rates are revised when land changes from agricultural to residential in these valuation zones,” he said.

The valuation zones in 10 nagar parishads are in Gadchiroli, Nagpur, Dharashiv, Parbhani, Hingoli, Nanded, Beed, Nashik, Jalgaon, and Dhule districts, and Chhatrapati Sambhajinagar, a municipal corporation area. Their RR rates, which will come into effect from April 1, 2026, will remain the same as 2025-26, according to the Office of the Inspector General of Registration and Controller of Stamps.

The decision was taken by Bawankule following directions from Chief Minister Devendra Fadnavis, senior state government officials said. Manish Jain, president of CREDAI Pune, said they had urged the state government to maintain the status quo. “For most families, buying a home is among the biggest commitments, and by keeping the RR rates unchanged, the government helped preserve affordability and confidence, especially for buyers in the mid-income and affordable housing segments,” he told TOI.

Credai convenor Kapil Gandhi said that historically, periods when RR rates remained unchanged often resulted in stronger government revenue collections, as pricing stability improves buyer sentiment and leads to a higher volume of transactions.