The Maharashtra government has announced an increase in Ready Reckoner Rates (RRR) for the financial year 2025-26, a move that is likely to influence property valuations, stamp duty, and registration charges across the state. The revised rates come into effect starting today, April 1, and mark the first revision since 2022–23.

The State Registration and Stamps Department issued a notification late on March 31 confirming an average hike of 3.89 per cent across Maharashtra. These government-notified rates serve as the minimum property value benchmarks for tax calculations during transactions and are considered critical indicators for real estate pricing.

Regional Breakdown: Cities Hit Harder

While Mumbai will see a 3.4 per cent increase—slightly below the state average—other key urban centres have recorded steeper hikes:

•        Thane: 7.72 per cent 

•        Solapur: 10.17 per cent 

•        Ulhasnagar: 9 per cent 

•        Navi Mumbai: 6.75 per cent 

•        Nashik: 7.31 per cent 

•        Pune: 4.16 per cent 

•        Panvel: 4.97 per cent 

Municipal corporation areas outside Mumbai have registered an average increase of 5.95 per cent, while rural areas have seen a 3.7 per cent rise.

Industry Reactions: Calls for Caution

The revision has elicited mixed responses from the real estate community. While some understand the need to align rates with market values, others are concerned about the potential impact on affordability and demand.

Prashant Sharma, President of NAREDCO Maharashtra, noted: “This hike could increase acquisition costs at a time when affordability is key to sustaining demand. While aligning RR rates with market realities is understandable, a more calibrated approach would help maintain sectoral momentum.”

Shraddha Kedia-Agarwal, Director at Transcon Developers, echoed the sentiment: “In high-value markets like Mumbai, even a modest rise in RR rates can significantly impact stamp duty and registration costs. Gradual implementation is essential to preserve market confidence.”