Pimpri Chinchwad: The Pimpri-Chinchwad Municipal Corporation (PCMC) region has seen a notable surge in its annual market value rates, commonly referred to as ready reckoner rates. According to a recent update from the Maharashtra Registration and Stamp Duty Department, these revised rates came into effect from April 1. The average increase stands at 6.69% in the PCMC area, compared to a 4.16% rise in Pune.
This adjustment means that property and land prices in Pimpri-Chinchwad have now surpassed those in Pune, posing a greater financial challenge for middle-class homebuyers. The revised rates are expected to influence the overall real estate market, particularly in suburban and rapidly developing areas.
Due to the COVID-19 pandemic, the rate hike initially planned for April 2020 was delayed until September of that year, with no revisions made during the 2021-22 financial year. The rates were increased in the 2022-23 fiscal period but were kept steady during election cycles. With the onset of the 2025-26 financial year, authorities have once again revised the rates in response to evolving market trends.
The hike is largely attributed to increasing interest in high-end housing and a growing appetite for real estate investment in and around industrial and IT zones. Pimpri-Chinchwad, home to a significant number of industrial units and tech companies, continues to attract working professionals, thereby boosting demand for residential projects. This trend has played a pivotal role in pushing property valuations higher in the region.
As development in the PCMC limits accelerates, the surge in ready reckoner rates highlights the need for a balanced housing policy to ensure affordability amid rapid urban expansion.
