Maharashtra Sees Increased Ready Reckoner Rates By 4.39% on Average, Urban Areas See A 5.95% Hike
Maharashtra Sees Increased Ready Reckoner Rates By 4.39% on Average, Urban Areas See A 5.95% Hike
Pune: The Maharashtra government has announced an increase in Ready Reckoner (RR) rates for the financial year 2025-26, marking the first revision in two years. The average hike across the state is 4.39%, with urban areas witnessing a steeper rise of 5.95%, while rural areas have seen a 3.36% increase. These revised rates come into effect from today, April 1. This adjustment is expected to impact property prices within municipal limits.
Every year, new RR rates come into force on April 1, determining the stamp duty payable on property transactions. The rates set by the Registration and Stamps Department also serve as a reference for other departments. Given the lack of revisions in the past two years, speculation about an increase was widespread.
The government requires significant funds for schemes like the ‘Ladki Bahin Yojana’ and subsidies for agricultural pumps, among other projects. The Registration and Stamps Department is the second-largest revenue-generating department for the state. Revenue Minister Chandrashekhar Bawankule had earlier indicated an impending increase in RR rates but assured that the hike would not be excessive.
Initially, a 10% hike was proposed, but the final approval resulted in a lower average increase. Among municipal areas (excluding Mumbai), the RR rate has risen by 5.95%, while in semi-urban localities, the hike stands at 4.97%. In Mumbai, the rate has increased by 3.39%, while areas adjoining major cities have seen a 3.29% rise.
Notably, some cities have experienced higher-than-average increases:
- Pune: 4.16%
- Pimpri-Chinchwad: 6.69%
- Navi Mumbai: 6.75%
- Thane: 7.72%
- Nashik: 7.31%
- Solapur: 10.17%
- Ulhasnagar: 9.00%
The revised rates are expected to influence property prices and stamp duty calculations across the state.
