Maharashtra government has announced that ready reckoner (RR) rates will remain unchanged for the financial year 2024-25. This is the second year in a row when the ready reckoner rates have not been changed in the state.Satyanarayan Bajaj, deputy secretary, Maharashtra revenue department, issued a notification on March 31 conveying the state government’s decision to the Inspector General of Registration and Controller of Stamps.
Domnic Romell, president, CREDAI-MCHI said, “For home buyers, stability in these rates means greater predictability in property prices, allowing them to plan their investments with more confidence. With consistent rates, buyers can avoid sudden spikes in costs, making homeownership more attainable and reducing financial uncertainty. When buyers perceive prices as stable, they are more likely to enter the market, leading to increased sales and transactions.
In 2019-20, the state government had received Rs 28,989 crore through stamp duty and registration fee, Rs 25,651 crore in 2020-21, Rs 35,171 crore in 2021-22, Rs 37,500 crore in 2022-23, and over Rs 50,000 crore in 2023-24.
The ready reckoner is the basic minimum valuation at which stamp duty is charged. These rates are linked to several premiums, charges, and floor space index (FSI) rates applicable to municipal corporations.