REAL ESTATE UPDATE
2 April 2025
Issue No. 01/25-26
MAHARASHTRA’S READY RECKONER RATES REVISED – IMPACTING PROPERTY VALUATIONS & TRANSACTIONS
The Maharashtra government has announced an increase in Ready Reckoner (“RR”) rates for the financial year 2025-26, effective from 1st April, 2025. This marks the first revision in two years, with an average hike of 3.89% across the state.
Background: RR rates, also known as circle rates or guidance values, are the minimum values set by the state government below which one needs to justify before registering a property. They serve as a benchmark for property valuations, directly impacting stamp duty and registration charges during property transactions.
Previous Revisions:
- 2020-21: Mumbai witnessed a 1.74% increase in RR rates;
- 2022-23: An 8.8% hike was implemented across municipal corporations, excluding Mumbai;
- 2023-24: RR rates remained unchanged;
- 2024-25: RR rates remained unchanged.
Current Revisions (2025-26):
- Mumbai: 3.39% increase;
- Municipal Corporation Areas (excluding Mumbai): 5.95% increase;
- Municipal Councils and Nagar Panchayats: 4.97% increase;
- Urban Areas: 3.29% increase;
- Rural Areas: 3.36% increase.
Impact on Property Transactions: The revised RR rates are expected to lead to higher property valuations, resulting in increased stamp duty and registration charges for buyers. Developers have expressed concerns that these changes may escalate construction costs, particularly affecting the affordable housing segment.
Conclusion: Stakeholders in the real estate sector should assess the implications of the updated RR rates on their transactions and financial planning. For detailed information, refer to the official resources provided by the Maharashtra government’s Registration and Stamps Department.
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