Maharashtra Government Increases Ready Reckoner Rates For 2025-26; Property Prices Set To Rise

Mumbai, 1st April 2025: The Maharashtra government has announced an increase in the annual Ready Reckoner (RR) rates for the financial year 2025-26. This marks the first hike in two years, with an average increase of 4.39%. The revision, which came into effect on April 1, 2025, will impact property prices across urban and rural areas in the state.

According to the revised rates, municipal corporation areas will see the highest increase of 5.95%, while rural areas will experience a 3.36% hike. With the implementation of these new rates, the cost of residential flats and land in municipal jurisdictions is expected to rise.

The Ready Reckoner rates in Maharashtra are revised annually on April 1, serving as a benchmark for property valuation and stamp duty calculation. The rates, prepared by the Registration and Stamps Department, are also referenced by various other government agencies. Over the past two years, no revision was made, leading to speculation about a potential hike this year.

With the government requiring substantial funds for initiatives like the Ladki Bahin Yojana and electricity subsidies for agricultural pumps, an increase in Ready Reckoner rates was anticipated. Revenue Minister Chandrashekhar Bawankule had indicated during the assembly session that while an increase was inevitable, it would not be excessive.

Initially, the Registration and Stamps Department had proposed an average hike of 10%, but the government approved a lower increase. The detailed revision indicates that municipal councils and municipalities will see a 4.97% increase, while areas within municipal corporations, excluding Mumbai, will experience a 5.95% hike. Mumbai’s municipal jurisdiction has seen a relatively lower increase of 3.39%.

In urban expansion zones—villages adjacent to major cities—the hike is set at 3.29%. These areas have witnessed significant urbanization, contributing to the increased property rates.

A historical analysis of Ready Reckoner rate revisions over the past decade reveals substantial fluctuations. The highest increase was recorded in 2012-13 at 37%, while in multiple years (2018-19, 2019-20, 2021-22, 2023-24, and 2024-25), no revision was made. The last notable increase was in 2022-23, when rates rose by 5%.

The revised Ready Reckoner rates for key cities are as follows:
– Pune: 4.16%
– Pimpri-Chinchwad: 6.69%
– Navi Mumbai: 6.75%
– Thane: 7.72%
– Kolhapur: 5.01%
– Nashik: 7.31%
– Solapur: 10.17%
– Panvel: 4.97%
– Sangli-Miraj-Kupwad: 5.70%
– Ulhasnagar: 9.00%

With these revised rates now in effect, property transactions in Maharashtra will be impacted as buyers and sellers adjust to the updated valuations. The increased revenue from stamp duty is expected to contribute significantly to the state’s finances, supporting various developmental projects and welfare schemes.