Maharashtra Government Decides to Maintain Current Ready Reckoner Rates for Property Transactions

Pune, 31st March 2024: In a significant relief for homebuyers and builders, the Maharashtra state government has announced its decision to keep the ready reckoner rates unchanged for the financial year 2024-25. This move comes amidst the backdrop of the upcoming Lok Sabha and subsequent Assembly elections.

The Inspector General of Registration and Stamps officials said that there will be no increase in the recalculated rates of immovable properties across the state. He stated that the decision to maintain the current rates is in line with the directives issued by the Maharashtra government.

The annual rate tables, assessment guidance notes, and new construction rates from the financial year 2022-23 will be retained throughout the state for the upcoming financial year. Notably, the state government had refrained from increasing the ready reckoner rates last year as well.

In the financial year 2022-23, the government had implemented a marginal increase of five percent in the ready reckoner rates. This year, the rates will remain consistent with the previous year’s figures, providing relief to both homebuyers and builders. However, investors purchasing properties solely for investment purposes may be impacted by this decision.

The decision to maintain stable ready reckoner rates is expected to ease the financial burden on prospective homeowners and support the real estate sector in the state. It is anticipated to encourage property transactions and bolster the housing market amidst prevailing economic uncertainties.