MUMBAI: Maharashtra will implement distinct Ready Reckoner (RR) rates for high-rises and slum clusters within the same area, following a statewide micro-zoning initiative aimed at enhancing the realism and fairness of property valuations, announced Revenue Minister Chandrashekhar Bawankule on Wednesday.
This decision, revealed on the 12th anniversary of Prime Minister Narendra Modi’s tenure, seeks to aid middle-class homebuyers and slum dwellers currently subjected to uniform valuation rates, despite significant differences in infrastructure and amenities.
Bawankule noted that the Maharashtra government has initiated a three-phase survey program for micro-zoning, entrusting the Maharashtra Remote Sensing Application Centre to carry out the task in Mumbai. This move aligns with a suggestion made by Chief Minister Devendra Fadnavis.
“Currently, slums, chawls, and upscale residential complexes in the same vicinity share identical RR rates. The new system will establish rates based on the actual facilities and development characteristics of specific micro-zones,” he stated.
In Maharashtra, RR rates represent minimum property values set by the state for various localities and property types, primarily used for calculating stamp duty and registration fees during property transactions.
The Revenue Department plans to roll out the updated RR framework in the next financial year post-survey completion, with an extension to major urban areas across the state within two years.
According to officials, the micro-zoning findings in Mumbai will inform the annual market value rate schedule for 2027-28, incorporating city survey numbers and the nature of development in each locality.
Additionally, GIS-based mapping will be utilized to gather precise data from urban, rural, and surrounding areas throughout Maharashtra.
This decision was discussed during a meeting at the state secretariat Mantralaya concerning the Maharashtra Stamp (Second Amendment) Government Bill No. 9, introduced in the 2026 Budget Session of the Legislative Council.
Bawankule emphasized that this initiative will enhance transparency in property valuation and registration processes, leading to more realistic RR rates across various development categories.
