No hike in RR rates for FY2023-2024: Maha

Following news of a proposed hike in RR rates on social media, buyers went into a tizzy and started queuing up at different sub-registrar offices in the city

Updated on: Mar 31, 2023, 23:43:32 IST

By Nadeem Inamdar

Prefer HTon Google

Share via

Copy link

Buyers who have been rushing to register their properties ever since reports of a proposed hike in ready reckoner (RR) rates appeared on social media; can breathe easy now. Because, the Maharashtra State Revenue and Forests has informed the Chief Comptroller of Revenue Authority and Inspector-General of Registration and Stamps (IGR) of the state government’s decision not to increase the RR rates for 2023-24.

officials have now assured citizens that there is no need to worry as the RR rates will remain the same as last year. (REPRESENTATIVE PIC)

Satyanarayana Bajaj, deputy secretary, in his letter addressed to the Chief Comptroller of Revenue Authority and IGR, stated that there will be no increase in RR rates and that the existing RR rates for the fiscal 2022-23 will be extended to the new financial year 2023-24. The deputy secretary also urged developers and citizens to adhere to the annual market value rate table as per the rules, and adjust their income rates accordingly.

Following news of a proposed hike in RR rates on social media, buyers went into a tizzy and started queuing up at different sub-registrar offices in the city. According to property registration officials, citizens began rushing to register their properties before the coming into effect of the proposed new rates from April 1. However, the officials have now assured citizens that there is no need to worry as the RR rates will remain the same as last year.

Box

Meanwhile, real estate developer Ranjit Naiknavare has been unanimously elected as the president of CREDAI-Pune Metro. He will assume charge from outgoing president Anil Pharande on Saturday, April 1, 2023. He will serve as president for two years. The CREDAI-Pune Metro is an association of builders and promoters of Pune, Pimpri-Chinchwad Municipal Corporation (PCMC) and Pune Metropolitan Regional Development Authority (PMRDA). Ever since its establishment in 1982, the association has been working towards the promotion of the real estate sector in the region for the benefit of its members.