Maharashtra govt increases Mumbai’s ready reckoner rates by 3.4%, state average 3.9%

by Admin
01/04/2025
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Maharashtra govt increases Mumbai’s ready reckoner rates by 3.4%, state average 3.9%

he government of Maharashtra has increased ready reckoner (RR) rates, which determines property valuations for stamp duty and taxation, for the financial year 2025-26 across the state after keeping it unchanged for the last two years.

The highest rise in the RR rates is in Solapur city (10.17%), followed by Ulhasnagar (9%), Amravati city (8.03%) and Thane city (7.72%). The rise in the RR rates is expected to earn the cash-strapped Maharashtra government a minimum of ₹10,000 crore against the target of ₹63,500 crore from stamp duty and registration in FY 2025-26

Maharashtra government raises Ready Reckoner rates by avg 3.9% in state. Pune: Ready Reckoner rates are up by an average 3.9% in Maharashtra for 2025-26, the state registration department announced on Monday. The last such increase was in 2022-23 when the average RR rate was increased by 5%.

MUMBAI: After a gap of two consecutive years, the state government on Monday announced a rise in the ready reckoner (RR) rates across the state for the financial year (FY) 2025-26. Although the average rise in the state remains 3.89%, it is 5.95% in urban areas governed by municipal corporations. It is just 3.39% in Mumbai, the second lowest after Nanded.

Solapur will experience the sharpest increase at 10.17%, followed by Ulhasnagar at 9%, Nashik at 7.31%, Thane at 7.72%, Pune district at 6.8%, Navi Mumbai 6.75%. Mumbai, the state’s commercial capital, will see a 3.4% increase, slightly below the state average, according to the document.

Experts believe that the rise in ready reckoner rates could make homeownership and real estate investment more expensive, further impacting a market that is already grappling with slow sales.

The statement issued by the government says, “While revising the rates, the data on the actual registered transactions is collected village-wise and value zone-wise, and the rates are finalised taking into account increases or decreases in the rate of registrations. We consider suggestions/objections from elected representatives, and new construction rates are obtained from the public works department before finalising the rates.”

The government has increased the RR rates separately for rural areas, urban areas, influence areas and nagar panchayat areas, while Mumbai has been treated as a separate zone. The highest hike—5.95%—is in the municipal corporation areas, although the RR rate for Mumbai is just 3.39%. The lowest RR rate is 3.29% for influence areas.

The rise in Mumbai is low, as the RR and market rates are almost at par, claimed a revenue department official. “Land deals are rare in Mumbai because of land paucity; the market is dominated by flat sales,” he said. “Most builders in Mumbai do not indulge in cash deals, leading to the RR rates being on par with market rates,” the Hindustan Times quoted the official as saying.