If you want to buy a house or a plot of land, there is some good news for you. For the fiscal year 2023-24, the state government has decided not to raise ready reckoner rates (government rates).
This decision by the state administration has pleased real estate players. They claim that this will benefit the real estate industry. This decision will also help consumers.
Rumors circulated that the state government was considering raising the odf ready reckoner charges. However, by saying that interest rates will remain steady, the government has provided significant relief to both realtors and ordinary buyers. The city’s ready reckoner increased by an average of 3.29% last year.
Ready Reckoner Rates of land in 2023-24 :
| Locality | Rates per sq. m |
| Sitabuldi | Rs 91,800/- |
| Civil Lines | Rs 83,520/- |
| Somalwada | Rs 85,130/- |
| Chinchbhuvan | Rs 45,900/- |
| Dabha | Rs 36,800/- |
| Babulkheda | Rs 52,460/- |
| Manewada | Rs 54,160/- |
| Hudkeshwar | Rs 29,280/- |
| Jaitala | Rs 48,030/- |
| Besa | Rs 39,150/- |
| Shankarpur | Rs 34,160/- |
| Jamtha | Rs 36,210/- |
| Kapsi | Rs 30,980/- |
| Isasani | Rs 30,460/- |
Although open land rates within the city were not raised significantly in many locations, a 1% metro surcharge on stamp duty was also levied on property purchases.
But nothing was done this year. There was also no rise in stamp duty. According to real estate experts, this will improve the selling of land and apartments. The state government’s earnings will rise as well. However, there is a significant difference between the ready reckoner price and the market price in Nagpur.
In some places, the rate of ready reckoner is lower, while in others, it is higher. Realtors have been calling for uniformity in this for a long time.