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4w ago

Maharashtra Implements 3.89% Average Hike in Ready Reckoner Rates for FY 2025-26

The first adjustment in two years brings regional disparities, with Solapur seeing the highest increase at 10.17% and Mumbai among the lowest at 3.39%.

Starting April 1, property transactions in Maharashtra are expected to become more expensive, as the state government has announced an average increase of 3.89% in ready reckoner rates for the financial year 2025-26. REUTERS/Francis Mascarenhas (Representational photo)
Mumbai, India - Sept. 5, 2023: Arial view of Infrastructural development at Sath Raasta, Mahalaxmi, in Mumbai, India, on Tuesday, September 5, 2023. (Photo by Anshuman Poyrekar/ Hindustan Times) (Hindustan Times)
Mumbai
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Overview

  • The revised rates, effective April 1, 2025, aim to boost state revenue, with an estimated ₹10,000 crore expected from stamp duty and registration fees.
  • Municipal corporation areas outside Mumbai face an average hike of 5.95%, while rural regions see a 3.36% increase.
  • Real estate developers express concerns over rising construction costs and potential strain on the affordable housing segment.
  • The hike has triggered a decline in real estate stocks, with the Nifty Realty index dropping 3.6% on April 1, 2025.
  • The government cites property transaction data as the basis for the hike, aimed at preventing undervaluation and tax evasion.