Rohit Gera, Managing Director, Gera Developments on ready reckoner rate announced by Maharashtra government

Pune, 1st April 2025: The recent increase in Maharashtra’s Ready Reckoner (RR) rates for the financial year 2025-26 reflects the government’s efforts to align property valuations with current market trends. Statewide, the average hike is 4.39%, with urban areas experiencing a 5.95% increase.

In Pune, the RR rates have been adjusted by 4.16%, and in the neighboring Pimpri-Chinchwad area, the hike is 6.69%. These adjustments are expected to influence property valuations and associated costs in these regions.

While the goal of increasing the ready reckoner rates is to reflect the market rates, these rates are the average rates in any locality. As a result, there will always be homes which are priced below this average and homes that are priced above.

Those below the average are generally the affordable housing, which will get impacted with increased stamp duty and a further burden on people looking to buy affordable homes. Developers will be forced to sell the homes at higher prices to reflect the ready reckoner rates as selling much below the RR leads to negative tax consequences for the developers.

In the long term, the government needs to switch to a minimum rate with multipliers for facilities and amenities rather than an average rate system. This will be a more fair and accurate way to approach the ready reckoner pricing of homes.