The Inspector General of Registration and Controller of Stamps and state town planning authority have jointly proposed a hike of 15 per cent in ready reckoner rate for Pune and Pimpri–Chinchwad municipal corporations, 12 per cent for municipal council and 10 per cent for rural areas for the financial year 2025-2026.
The ready reckoner rate is the minimum rate based on which the government charges registration fees and stamp duty for any property-related transactions. Once approved by the state government, the rates would be effective from April 1 and properties comprising houses, flats and commercial establishments would witness a steep price rise.
Ravindra Binawade, inspector general of registration, said that the process was still underway and would be complete by February.
“The department is studying the data and sales of transactions between January and November. The report will be sent to the state government for approval and the final ready reckoner rates will be declared effective on April 1,” he said.
A special meeting on the proposed ready reckoner hike was held at the Pune District Collector’s office on January 28.
The state government has proposed a number of mega infrastructure development projects under the Pune Metropolitan Regional Development Authority (PMRDA) region which includes the proposed international airport at Purandar, ring road project, green corridor, railway project, MIDC development, expansion of existing highway and township schemes which would witness significant investment in land and generate huge revenue for the state government. Also, the IGR office expects to earn huge revenue from the rapid expansion and growth of the real estate sector in PMC and PCMC areas.
{{/usCountry}}The state government has proposed a number of mega infrastructure development projects under the Pune Metropolitan Regional Development Authority (PMRDA) region which includes the proposed international airport at Purandar, ring road project, green corridor, railway project, MIDC development, expansion of existing highway and township schemes which would witness significant investment in land and generate huge revenue for the state government. Also, the IGR office expects to earn huge revenue from the rapid expansion and growth of the real estate sector in PMC and PCMC areas.
{{/usCountry}}The state government had extended an invitation to all the 22 legislators of the district to attend the ready reckoner hike-related meeting. The suggestions and objections of the legislators are taken on record before the government proceeds with the hike. However, except Wadgaonsheri MLA Bapusaheb Pathare none of the public representatives turned up for the crucial meeting.
Pathare said, “There should be a 50 per cent cut in the proposed ready reckoner hike for the city and rural areas. There should not be two rates for the land in the same survey number, and the areas where no development has been proposed must be subjected to hike and funnel zone, Bio-Diversity Park (BDP) and other reservation areas must be brought under the ambit of ready reckoner hike.