Special Correspondent | Mumbai
Buying a new house is set to become more expensive as the Maharashtra state government has announced a significant hike in Ready Reckoner (RR) rates for the financial year 2025-26. The average increase across the state stands at 4.39%.
In rural areas, the RR rates have gone up by an average of 3.36%, in influence zones by 3.29%, in municipal councils and nagar panchayats by 4.97%, and in municipal corporation areas (excluding Mumbai) by a notable 5.95%. Urban regions are witnessing a comparatively higher surge in rates.
Due to the COVID-19 pandemic, the state had not revised the RR rates for the past three years. However, with mounting financial pressure from welfare schemes like Ladki Bahin Yojana, the government is now looking to boost revenue through stamp duty and registration charges. The state expects to earn over ₹60,000 crore by the end of the current fiscal year on March 31.
Since Ready Reckoner rates determine the official valuation of properties and the stamp duty to be paid during registration, this hike will directly increase the cost burden on homebuyers.
Proposed Average Increases for 2025–26:
Rural Areas: 3.36%
Influence Zones: 3.29%
Municipal Councils/Nagar Panchayats: 4.97%
Municipal Corporation Areas (excluding Mumbai): 5.95%
Statewide Average (excluding Mumbai): 4.39%
Mumbai Municipal Corporation Area: 3.39%
Overall Statewide Increase: 3.89%
City-wise Average Increase:
Thane: 7.72%
Mira-Bhayandar: 6.26%
Vasai-Virar: 4.50%
Kalyan-Dombivli: 5.84%
Navi Mumbai: 6.75%
Panvel: 4.97%
Ulhasnagar: 9.00%
Bhiwandi-Nizampur: 2.50%
Nashik: 7.31%
Pune: 4.16%
Pimpri-Chinchwad: 6.69%
This revision signals a steeper climb for potential homeowners and adds further pressure to the real estate market.
