No increase in ready reckoner and stamp duty rates, announces Maharashtra govt

Pune: In a recent development, a circular dated on 31 March from the Deputy Secretary to the Government of Maharashtra, Satyanarayana Bajaj, has confirmed that there will be no hike in the new Ready Reckoner (RR) rates. The letter was addressed to the Chief Comptroller Revenue Authority and Inspector General of Registration and Controller of Stamps Maharashtra State.

Amid reports of citizens rushing to complete last-minute property registrations to avoid the new RR rates that were expected to come into effect from April 1, this news has brought relief to many. According to the letter, the annual rate statement for the year 2022-23 will remain unchanged, and there will be no change in the year 2023-24 as well.

The letter also stated that requests for an increase or decrease in the annual market value rate table regarding income rates will be decided as per the rules. The announcement is expected to provide much-needed clarity and stability to the property market in Maharashtra. 

The government’s decision to maintain the existing rates is likely to boost investor confidence and encourage more people to invest in the state’s real estate sector.