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Maharashtra Government Increases Mumbai's Ready Reckoner Rates by 3.4%

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Maharashtra Government Increases Mumbai's Ready Reckoner Rates by 3.4%

Maharashtra Government Increases Mumbai's Ready Reckoner Rates by 3.4%

Maharashtra Government Increases Mumbai's Ready Reckoner Rates by 3.4%

The Maharashtra government has revised the ready reckoner (RR) rates for property valuations, applicable for stamp duty and taxation, for the financial year 2025-26. After keeping the rates unchanged for the last two years, Mumbai will see an average increase of 3.39%, while the state overall will experience a 3.89% hike. Municipal corporation areas across the state, excluding Mumbai, will see a larger increase of 5.95%, with municipal councils and nagar panchayats witnessing a 4.97% rise.

Urban areas will see a 3.29% rise in RR rates, while rural regions will face an average increase of 3.36%. The most notable hikes are in cities like Navi Mumbai (6.75%), Thane (7.72%), Nashik (7.31%), and Solapur (10.17%), where the increases are particularly steep.

This adjustment in rates is expected to impact the construction and real estate markets, especially developers and investors, as it could lead to higher costs. Niranjan Hiranandani, Chairman of NAREDCO, expressed appreciation for the marginal increase in Mumbai's RR rates but highlighted concerns about rising construction costs due to increased development expenses, additional FSI, and municipal charges. The revision of RR rates across the state is expected to drive up property costs, potentially impacting the affordable housing sector.

Experts caution that with Mumbai’s already high property prices, these new RR rates could make home ownership more expensive. Developers may pass on the additional financial burden to buyers, further increasing the costs in Maharashtra’s key real estate markets.

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About the author
Sandeep Sadh

About Sandeep Sadh

Sandeep Sadh has been in the real estate business since 1993 in Mumbai. He has expertise in Buying, Selling, Leasing properties in Mumbai and a deep understanding of legal and tax related matters due to his experience.

Summary

Over the years, he has experienced the City's growth. He has been a columnist in the Times of India with numerous articles, which bring about a clear picture of the real estate market in Mumbai. He is a regular on NDTV, CNBC, ET Now Real Estate and Zee News, giving his experienced quotes as and when required.

Sandeep Sadh has used information and technology since the year 1998 and now what people call it Prop Tech to cater to the needs of Home Buyer, Seller, Investor and Corporates, HNI and NRI looking to Buy/Sell or Lease their properties in the Mumbai Property Market.

Sandeep has a holistic experience of real estate be it Leasing an Apartment for your CEO in the most upmarket buildings, to enter into a long lease for your office in Mumbai in prime buildings or an Investment in good projects with a detailed analysis keeping in mind the Demand and Supply and other micro factors of the project/property.

Sandeep Sadh has developed a few websites like www.mumbaipropertyexchange.com, www.realestatemumbai.com, www.propi.in which augment the real estate consulting business.

Right from Investments in Primary Markets to Selling, leasing and specializing for NRI’s all over the world. He is an expert in NRI Home Buying and Selling and has a good understanding of the Income Tax laws pertaining to Selling a Property and Repatriating funds overseas or reinvesting based on Capital Gains etc.

Experience

  • Residential Leasing
  • Commercial Leasing
  • Residential Home Buying
  • Commercial Property Buying
  • Investment Properties with complete Property Management as your Real Estate Family office

While transacting in the above segments, he has complete experience and deep understanding of the paper work, his areas of expertise are :

  1. Drafting of the Leave and License Agreements
  2. MOU for Buying/Selling Properties
  3. Drafting Agreement for Sale
  4. Gift Deeds
  5. Computing of Capital Gains with current ready reckoner values
  6. Drafting of Supporting Power of Attorney.

As an add on Service, Sandeep Sadh has tied up with various Professionals like Lawyers and Chartered Accountants who add value in transacting and specially services for Non Resident Indians.

Application to Income Tax for Lower Tax Deduction Certificate – Through a qualified CA and keeping a grip on the traction so that the remittance back to Non Resident Indians after Selling the property is seamlessly transferred.

You can connect with Sandeep Sadh on ssadh@mumbaipropertyexchange.com

LinkedIn - https://www.linkedin.com/in/sandeepsadhmpe/

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