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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