Pune: Eight To 15 Per Cent Increase In Ready Reckoner Rate Proposed
Pune, 23rd March 2023: The Registration and Stamp Duty Department has proposed an average increase of eight to 15 per cent in the rate of ready reckoner (annual market value rate) in Pune city, 10 to 15 per cent in Pimpri-Chinchwad and five to seven per cent in rural areas in the financial year 2023-24.
What decision the state government takes regarding this increase in the price of ready reckoner will depend on whether there will be an increase in the rate of ready reckoner from the next financial year i.e. from 1st April or the rate will remain the same.
Ready Reckoner rates are updated every year on 1st April by the Registration and Stamp Duty Department. Accordingly, the Stamp Duty Department has proposed new rates for ready reckoner for the next financial year.
While fixing the rate, the department has studied the data of purchase and sale transactions during the 11 months from January to November. An arrangement was also made in which area the growth is seen. It is said that this increase has been proposed accordingly. The report in this regard is going to be sent to the state government for approval. Officials of the Stamp Department informed that the new rates of ready reckoner will be implemented after the approval of the State Government.
Big projects are coming up in rural areas in the next few years. These mainly include projects such as the airport, ring road, metro, railway line, MIDC, widening of highways, township scheme, etc proposed in Purandar. It was said that due to these big projects in the district, and newly coming companies, the prices of land in rural areas have increased.
Increase in ready reckoner in Pune city
Year: Increase in Ready Reckoner
2017-18: 3.64 per cent
2018-19: No increase
2019-20: No increase
2020-21: 1.25 per cent
2021-22: Five per cent
2022-23: 9.2 percent
2023-24: Eight to 15 per cent (proposed)
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