Maharashtra’s Potential Increase in Ready Reckoner Rates Could Raise Property Costs for Buyers
Maharashtra’s government is considering an increase in the Ready Reckoner (RR) rates by nearly 10% for the upcoming year, which could have a significant impact on homebuyers. The RR rates set the minimum value for property deals.
They affect stamp duty and registration fees. This could raise property prices, especially for land. Developers warn that any rise in land RR rates would increase their project costs, and ultimately, the burden would be passed on to homebuyers.
This move could also impact commercial and retail real estate.
Maharashtra is considering a potential increase in Ready Reckoner rates by up to 10%, which could raise property transaction costs. These rates determine the minimum value for properties, influencing stamp duty and registration fees.
If implemented, this could lead to higher prices for homebuyers, especially for land, with developers passing the added costs onto buyers. This move might affect residential and commercial properties. It could raise costs for potential buyers.
