The Maharashtra government has decided not to increase the ready reckoner rates for the financial year 2023-24. As most of our readers are aware, ready reckoner rates are the state government's official recognition of the market value of a property for various purposes, including calculating stamp duty and registration charges. The government's decision is expected to provide relief to the real estate sector and homebuyers, as any increase in the rates would have resulted in higher property prices. Property owners seeking to sell their properties at the minimum allowable rate have also expressed their gratitude at the news.
The decision was made after considering the impact of the COVID-19 pandemic on the real estate sector and the economy as a whole. The state government had also constituted a committee to review the ready reckoner rates, and the committee recommended that the rates should not be increased for the upcoming financial year. The government's decision is expected to provide a boost to the real estate sector, which has been reeling under the impact of the pandemic and the subsequent lockdowns.
Via: Economic Times
Stamp Duty and Registration in Maharashtra
