Tag: Ready Reckoner rates

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Nagpur’s Plot Rates Set to Change in Two Years: Maharashtra

NAGPUR: The Maharashtra government is planning to implement CTS-card-level micro-zoning of Ready Reckoner (RR) rates, designed to benefit landowners by eliminating the practice of assigning the same value to a slum tenement and a luxury high-rise within the same area. Revenue Minister Chandrashekhar Bawankule announced this in Nagpur on Thursday. A three-phase, property-by-property survey has commenced, starting in Mumbai, with a timeline for implementation in Nagpur set for the next two years. Bawankule noted that the survey is being conducted by the Maharashtra Remote Sensing Application Centre (MRSAC). He cited a notable city hotel as an example of the existing…

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Nagpur Civic Body’s Stamp Duty Collection Misses Target Again

NAGPUR: In the previous financial year (2025-26), Nagpur city’s stamp duty collection on property transactions reached over Rs 1,700 crore, falling short of the Rs 1,900 crore target by approximately 9%. The overall value of transactions for the fiscal year ending March 31 amounted to over Rs 24,000 crore, with a 7% stamp duty applied. More than 11 lakh deeds were registered in that period. The state government’s decision to maintain the ready reckoner rates unchanged for the current financial year (2026-27) aims to stimulate property purchases, potentially increasing stamp duty collections as a result. The stamp duty target was…

IndustryLatest Stories

Maharashtra May Boost RR Rate in April Amid Rising Debt

PUNE: According to senior officials in the revenue department, purchasing a flat may become more expensive in the upcoming financial year. There is a suggestion of a potential increase in Ready Reckoner (RR) rates this April due to a growing revenue deficit and rising debt associated with welfare initiatives such as the Ladki Bahin Yojana. Discussions with stakeholders at the district level are currently ongoing, and a final decision will depend on the funding required for infrastructure projects, welfare programs, and recently introduced incentives. “Given the increasing revenue deficit and significant supplementary demands, a revision in RR rates appears to…