The Maharashtra government has announced a 4.39% increase in ready reckoner rates across the state for the financial year 2025-26. The revised rates, set to take effect from April 1, were confirmed on Monday by Ravindra Binwade, Inspector-General of Revenue (IGR) and Controller of Stamps.
Earlier, there were speculations that the government might hike the rates by 10%, but the final adjustment remained moderate, offering some relief. While the stamp duty percentage remains unchanged, the increase in ready reckoner rates will push up property prices, leading to higher stamp duty charges for homebuyers.
During the preparation of these rates, meetings were held with developers, property dealers, and other stakeholders involved in the valuation process. Inputs from these discussions, along with public feedback and objections, were carefully reviewed before finalizing the rates.
After thorough verification, the rates have been revised accordingly, according to a statement released by the IGR department.
The revised ready reckoner rates for different areas of Maharashtra are as follows:
- Rural areas – 3.36%
- Urban areas – 3.29%
- Municipal corporations/municipal councils – 4.97%
- Metropolitan municipalities (excluding Mumbai) – 5.95%
- State-wide average – 4.39%
- Greater Mumbai Municipal Corporation average – 3.39%
- Total state-wide average – 3.89%
The National Real Estate Development Council (NAREDCO) welcomed the moderate revision in Mumbai’s ready reckoner rates but expressed concerns about rising costs.
“With Mumbai’s real estate market seeing a surge in redevelopment, the increase in ready reckoner rates will push up construction costs, as development expenses, additional FSI, and municipal charges are directly linked to it. Additionally, the state-wide revision, averaging around 5%, will drive up property prices, impacting the affordable housing segment. We urge policymakers to take a balanced approach to sustain growth while ensuring housing affordability,” said Niranjan Hiranandani, Chairman, NAREDCO.