Nagpur: In a major policy decision aimed at stabilising the real estate market, the Maharashtra govt on Tuesday announced that ready reckoner rates will remain unchanged for the financial year 2026–27, offering relief to homebuyers and developers alike. The decision, taken under the guidance of chief minister Devendra Fadnavis and implemented by minister Chandrashekhar Bawankule, ensures that property valuation benchmarks will continue at the same levels as 2025–26 from April 1.Officials said the move comes at a time when the construction sector is navigating global economic uncertainties and a domestic slowdown. By keeping rates “as is,” the govt aims to avoid additional financial burden on buyers and encourage property transactions across urban and rural regions.Over the past decade, ready reckoner rates — which determine property values for stamp duty and registration — have seen periodic revisions. In 2017–18, rates increased by an average of 5.86%, while in 2020–21, the hike was limited to 1.74% due to the Covid-19 pandemic. A 4.81% rise was implemented in 2022–23 and continued for two years. In 2025–26, rates were raised across regions, including 3.36% in rural areas, 4.97% in municipal zones and 5.95% in municipal corporation areas, with Mumbai recording a 3.39% increase. The latest decision marks a pause in this upward trend.Despite the freeze, the state has recorded robust revenue from stamp duty and registration. As of March 30, 2026, the govt collected Rs 60,568.94 crore, nearing its annual target of Rs63,500 crore. A major share — Rs 49,534.24 crore — was generated through the digital I-Sarita platform, highlighting the increasing shift towards online transactions. Additional contributions came from Adjudication 2.0 (Rs4,429.70 crore), e-filing (Rs1,238.26 crore), online leave and licence services (Rs316.69 crore) and other sources totalling Rs5,050.05 crore.The govt has, however, introduced several technical refinements to improve valuation accuracy and streamline processes. These include integrating approved regional and development plans, incorporating new survey numbers and correcting discrepancies in village records. Officials said these measures would enhance transparency and ensure that property valuations reflect ground realities.Bawankule said, “Industry bodies, including CREDAI, had urged the govt to maintain status quo on rates to support a sector grappling with fluctuating demand. The administration, after reviewing stakeholder feedback and economic indicators, opted to keep the rate revision percentage at zero.”With housing affordability emerging as a key concern, the decision is expected to sustain buyer sentiment while giving developers breathing room to navigate cost pressures, thereby supporting broader economic activity in the state.
