Mr. Rohit Gera, MD, Gera Developments & VP, CREDAI Pune Metro, on hike in Pune’s Ready Reckoner Rates:
The increase in the ready reckoner rates by the State government is not at all in line with the market conditions. Over the years, the price rise has been under 1%.
This is an example of the government's words and actions being out of sync.
On one hand there is a statement to provide housing for all, on the other hand this move makes it more expensive for home buyers by increasing their Stamp Duty costs.
The ready reckoner is set by looking at average rates in a location. This means there will be some flats below average and some above. The ones below average are generally the affordable homes at lower prices. These buyers are forced to pay Stamp Duty at higher rates.
It is an unfair move affecting the affordable home buyers. The 'Housing for all' vision of the government seems unlikely to be fulfilled for a long time with such unfavourable initiatives.
Related Stories:
Ready-reckoner rates are assessments of property value by the state government on the basis of which stamp duty and registration charges are paid. The government usually revises these rates every year.1) Maharashtra government increases Ready Reckoner rates
Various levies and charges, including premium for floor space index and development charges paid by builders too, are calculated based on ready-reckoner rates. Any rise in these levies would increase a project's cost, which developers would try to recover from consumers.
2) Department of Registration & Stamps Goverment of Maharashtra - igrmaharashtra.gov.in
3) गृहप्रवेशासाठी मुद्रांक शुल्काचा भुर्दंड - दरवाढीबाबत नाराजी; घरांच्या किमती रेडीरेकनरपेक्षा कमी
4) रेडीरेकनरबाबत "क्रेडाई' न्यायालयात जाणार
5) सर्वांत महाग घरे घोरपडीत
6) Shivajinagar, KP top RR rate chart
7) Buying affordable homes in Pune gets costly
8) Koregaon Park, Erandwane and Shivajinagar continue to top RR rates
9) New Ready Reckoner ups flats’ prices by 3-5 per cent
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How big lies these builders can speak day in & day out. They can put even politicians to shame ! The ready reckoner rates are already way below market rates.
ReplyDeleteThe builders are crying because the black money component will decrease due to more ready reckoner rate & thus ill-gotten money flowing in real estate will further reduce. For a buyer who wants to pay by 100% white money, it doesn't matter even if ready reckoner rates are hiked as flat prices are already way higher than Govt rates.
"The 'Housing for all' vision of the government seems unlikely to be fulfilled for a long time with such unfavourable initiatives."
- As if builders really cared for end users. Crocodile tears by crook builders.
ture
Deletetrue.. high eady reckoner rate will reduce black money.. and builder will not able to raise the price with rise ready reckoner as market is down.
DeleteDear Raviji, your blogs are really nice.
ReplyDeleteDo you know that your blog has been referred in daily Marathi newspaper 'Loksatta' in one article? It was a must read article for everyone.
Here is the link about the article : "http://www.loksatta.com/arthvrutant-news/governmental-system-including-in-housing-scam-1217462/"
Thank you!
Thanks themonk for your thoughts. Really this will help end users.
ReplyDeleteIn latest leaks of Mossack Fonseca published today, the name of Pune based builder Atul Chordia of Panchshil builders (who also own Marriott hotels in Pune) has came up in money laundering case. This is apart from other builder - KP Singh of DLF.
ReplyDeleteSo much of black money & still builders shed crocodile tears.
Please check these links to find more details :
According to the MoU, the largest stake of 33 per cent in the consortium was held by the Chordia family who control the Pune-based realty major Panchshil Group through Atul Chordia (9 per cent), his wife Varsha Chordia (9 per cent) and the family-run Courtyard Properties Private Limited (15 per cent).
http://indianexpress.com/article/india/india-news-india/panama-papers-ipl-mystery-offshore-firm-was-part-of-2010-ipl-pune-franchise-bid-closed-days-later/
This is of DLF :
Mossack Fonseca documents list K P Singh, his wife, son, daughter and their family as shareholders; Singh is labelled as a ‘politically exposed person’.
http://indianexpress.com/article/india/india-news-india/panama-papers-dlf-panama-papers-k-p-singh-10-million-as-capital-10-members-of-dlf-family-three-bvi-firms/
Mr gera if you are so keen on housing for all,why not reduce the basic property sell rates by double the amount?Basically most of you seem to be out to make more than a persons lifes savings and maybe some more.Greedy customers? Expect savings after buying a flat?😊
ReplyDelete