Public Feedback to Shape Maharashtra’s New Ready Reckoner Rates
The Maharashtra government is set to amend the Maharashtra Stamp Act, 1958, to allow the pre-publication of district-wise ready reckoner (RR) rates on the registration department’s website for public feedback. First, the state revenue minister has directed officials to publish proposed RR rates for public consultation before finalization. Once the state cabinet approves the amendment, the draft rates will likely be available online in the first week of March, open for public scrutiny and suggestions for eight days. The registration department will conduct hearings based on feedback before finalizing the rates. Additionally, officials are considering shifting the final publication date from April to a later month if necessary.
The move has been welcomed by citizens' groups and activists, who have long demanded transparency in RR rate revisions. The state government, aiming to boost revenue, expects to generate an additional ₹15,000 crore from increased RR rates, contributing to a projected ₹55,000 crore from stamp duty collections this year. With 88% of the target already achieved by February 24, officials acknowledged that higher stamp duty might temporarily impact property registrations but expect market stabilization in the coming months.
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