Maharashtra Increases Ready Reckoner Rates by 3.9% for 2025-26 Developers Raise Concerns
The Maharashtra state registration department has announced an average 3.9% increase in Ready Reckoner (RR) rates for 2025-26, marking the first hike since 2022-23, when rates rose by 5%. The latest revision was based on property transactions recorded between January 2022 and November 2024, with municipal corporation areas witnessing the highest average increase of 5.9%. Solapur Municipal Corporation saw the steepest hike at 10.2%, followed by Ulhasnagar at 9% and Amravati at 8%. In Pune district, RR rates increased by 6.8%, while Mumbai recorded the lowest rise at 3.4%. State officials stated that rural areas saw a 3.7% hike, while urban regions varied between 3.3% and 6%, depending on their classification. The government plans to adopt GIS mapping for a more scientific approach in future revisions.
Real estate developers and homebuyers have raised concerns about the increase, particularly in light of rising construction costs and the newly imposed 1% Metro cess on stamp duty. Industry representatives argue that the hike could slow property sales and escalate development costs, particularly in rapidly growing rural and suburban areas. Critics have called for a data-driven approach to RR rate assessment, instead of traditional methods, to ensure fair pricing. Meanwhile, homebuyers worry that higher stamp duty and registration fees will make property ownership more expensive. Despite these concerns, Maharashtra's property revenue collection for 2024-25 exceeded expectations, reaching ₹57,422 crore against a target of ₹55,000 crore, with 29.12 lakh documents registered.
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