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Maharashtra to reduce ready reckoner rates in some urban pockets: Balasaheb Thorat
The move will lead to reduction of stamp duty on property purchase and also give a much-needed boost to the real estate sector in the state, Thorat said
In view of the economic slowdown, the Maharashtra government is set to lower the ready reckoner (RR) rates in some urban pockets, said Balasaheb Thorat, state revenue minister, on Friday.
Addressing a press conference at Congress Bhavan, Thorat said, “The history of ready reckoner rates in Maharashtra is such that the rates have never been brought down. However, given the current market slowdown, the ready reckoner rates are high in some parts of the state. The state government is planning to rationalise the rates to boost the economy.”
The move will lead to reduction of stamp duty on property purchase and also give a much-needed boost to the real estate sector in the state, he said.
The RR is a rate card that is published annually. All calculations related to real estate such as stamp duty, registration, premiums, and tax collection are based on RR.
On another note, Thorat, who is also the state unit president of the Congress hinted that the Congress, NCP and Shiv Sena alliance was contemplating contesting the municipal corporation and zilla parishad (ZP) elections together.
“The MVA is doing a good job in Maharashtra. Recently the three parties contested a few ZP elections together and succeeded in defeating the BJP. Considering this, there are chances that the MVA will contest elections together for local self-governments,” he said.
