In a major relief to homebuyers in Maharashtra, the state government has not made any changes to the ready reckoner rates for FY23-24, a notification issued by IGR Maharashtra stated. The government will be continuing with the same ready reckoner rates announced in FY22-23. Speculations were rife that starting April 1, 2023, ready reckoner rates in the state will see an increase, which would impact the property value in the state.
In FY 2022-23, the Maharashtra government had increased the ready reckoner rates by an average of 8.80%.
Note that ready reckoner rates are also known as guidance value which is locality specific and is used for calculating the stamp duty for property registrations.
Any hike in ready reckoner rates will directly impact the property value with it playing a pivotal role in stamp duty charges.
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With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
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