Maharashtra Government Hikes Ready Reckoner Rates: Nashik Sees 7.31% Increase
Maharashtra Government Hikes Ready Reckoner Rates: Nashik Sees 7.31% Increase
Maharashtra Government Hikes Ready Reckoner Rates: Nashik Sees 7.31% Increase
The Maharashtra government has announced an average increase of 7.31% in Ready Reckoner (RR) rates for Nashik city, effective from April 1, 2025. This marks the first revision in two years, impacting property valuations and stamp duty calculations for land, residential, and commercial properties.
RR Rate Hikes Across Municipal Areas
The revised RR rates extend beyond Nashik, affecting multiple municipal regions across the state:
- Malegaon Municipal Corporation: 4.88% increase
- Dhule Municipal Corporation: 5.07% increase
- Jalgaon Municipal Corporation: 5.81% increase
- Ahilyanagar Municipal Corporation: 5.41% increase
Expert Reactions on Nashik’s RR Rate Hike
The 7.31% hike in Nashik’s RR rates has sparked concerns among real estate professionals. Nilesh Chavan, senior architect and former chairman of the Indian Institute of Architects, Nashik Centre, described the increase as excessive. He emphasized the need for a more detailed zone-wise analysis, arguing that Nashik’s current RR rates were already high and did not necessitate a further rise.
Impact on Nashik’s Real Estate Market
The updated RR rates are expected to influence property prices and transaction costs in Nashik. Industry experts believe that higher property valuations could lead to increased stamp duty fees, potentially affecting buyer sentiment and investment decisions.
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