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Maharashtra Implements 4.39% Average Hike in Ready Reckoner Rates for FY 2025-26

Effective April 1, 2025, the rate revision is expected to generate ₹10,000 crore in revenue while raising property costs across the state.

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 Maharashtra government has introduced a 4.39% average increase in ready reckoner (RR) rates, marking the first revision since FY 2022-23.
  • Urban areas governed by municipal corporations will see a higher average increase of 5.95%, with Solapur experiencing the steepest hike at 10.17%.
  • Mumbai's relatively low 3.39% increase reflects its alignment of RR rates with market rates and dominance of flat sales over land deals.
  • The rate hike is projected to contribute ₹10,000 crore toward the state's ₹63,500 crore revenue target from stamp duty and registration fees.
  • Developers and buyers are concerned about the impact on property prices, stamp duty costs, and construction expenses, especially in high-increase regions.