Ready Reckoner Hike Pune: In a significant move, the Maharashtra government on Monday announced an increase in Ready Reckoner (RR) rates the minimum property transaction prices in specific areas – after a three-year gap. For the financial year 2025-26, the rates will rise by an average of 4.2% in PMC (Pune Municipal Corporation) areas and 6.7% in PCMC (Pimpri-Chinchwad Municipal Corporation) areas.
Across Pune district, the RR rates will see an average hike of 6.8%, lower than the 8.2% increase recorded in 2022-23. The highest increase is in rural areas, at 10.3%. The state revenue department stated that the average increase across Maharashtra is 3.9%.
Ravindra Binwade, Inspector General of Registration (IGR), explained that the new rates were finalized after a thorough evaluation of all regions.(Ready Reckoner)
Developers’ Concerns: Impact on Housing Projects
Though the average hike for 2025-26 is lower than in 2022-23, developers fear it could impact several housing projects, especially in peripheral areas where significant price jumps are expected. A city developer expressed concern that the average increase might not reflect the actual rise in specific value zones. “While Pune city sees an average of 4.2%, some areas might face hikes of 10% or more. Combined with the metro cess, this could discourage real estate investors,” he said, citing Mhalunge as one such area.(Ready Reckoner)
Developers operating under the Pune Metropolitan Region Development Authority (PMRDA) echoed similar worries. One developer remarked, “The government promotes affordable housing in peripheral areas, but a 10.3% hike in rural RR rates will affect such projects.”
Why the Rate Hike?
According to IGR Binwade, the valuation was based on transaction data, targeting areas where disparities between land and flat rates were evident. “Certain influential and rural areas needed significant rate corrections as their land prices had remained low for too long,” he said.
The department worked for a year to compile a consolidated report. With metro cess already in place in Pune, Thane, Mumbai, and Nagpur, developers felt that “increasing rates was unnecessary.”
Highest Rates in These Areas
Officials from the registration department noted that land rates remained the highest in areas like Prabhat Road, Garware School-SNDT, Gyaneshwar Paduka Chowk, Wakad ,Balewadi Baner, HInjawadi ,kharadi , ravet and Bajirao Road.
What Are Ready Reckoner Rates?
Ready Reckoner rates serve as a benchmark for real estate valuation, influencing stamp duty payments, capital gains tax calculations, and various municipal charges tied to the Floor Space Index (FSI). These rates are revised at the start of each financial year. The last revision occurred in April 2022-23.
Region-Wise Increase
- Rural Areas: 10.3%
- Influential Areas: 6.2%
- Municipal Councils: 6.5%
- Pune City (PMC): 4.2%
- PCMC: 6.7%
This hike in Ready Reckoner rates could reshape Pune’s real estate market. While affordable housing in rural areas may take a hit, some city pockets might see a price surge, challenging investors. Do you agree with this change? Share your thoughts in the comments below!
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