Curation Team
PUNE: After a gap of three years, Maharashtra govt on Monday increased the Ready Reckoner (RR) rates— the minimum prices of property transactions in a particular area— by an average of 4.2% in PMC areas and 6.7% in PCMC areas for the 2025-26 financial year.
Pune district will see an average RR rate hike of 6.8%, lower than the 8.2% increase in 2022-23. The maximum increase was in rural areas at 10.3%. Across the state, the increase is an average of 3.9%, announced the state revenue department.
State Inspector General of Registration Ravindra Binwade said an extensive assessment was conducted across all areas before finalising the new rates.
While the average hike for 2025-26 was lower than in 2022-23, developers feared its impact on several housing projects, particularly on the outskirts, where prices were set to significantly increase.
A city-based developer highlighted concerns that the average hike might not reflect the actual increase in specific value zones. “Though Pune city shows an average 4.2% hike, certain areas may have seen jumps of up to 10% or more. Combined with the Metro cess, this could deter real estate investors,” he said, citing Mhalunge as one such area.
Developers operating in the Pune Metropolitan Region Development Authority (PMRDA) jurisdiction shared similar concerns. “Govt promotes affordable housing in peripheral areas, but has increased the RR rate in rural zones by 10.3%. This will affect such projects,” a developer said.
IGR Binwade said the value zones were evaluated based on transaction data, with significant corrections in areas where disparities between land and flat rates were evident. He said, “Certain influential and rural areas required major price corrections as their land rates remained low for a long time.”
The department worked for a year to compile a consolidated report. With Metro cess in Pune, Thane, Mumbai, and Nagpur areas, developers were of the view that it was “unnecessary to increase the rates”.
Land rates for Prabhat Road, Garware School-SNDT, Dnyaneshwar Paduka Chowk, and Bajirao area remained among the highest, added registration department officials.
RR rates serve as the benchmark for real estate valuations, influencing stamp duty payments, capital gains tax calculations, and various municipal charges linked to Floor Space Index (FSI). The rates are revised at the start of each financial year. The last correction was made in April 2022-23.
This year’s hike stood at 10.3% for rural areas, 6.2% for influential zones, 6.5% for nagar panchayats, 4.2% for Pune city, and 6.7% for PCMC.
