The Maharashtra government is preparing to increase ready reckoner (RR) rates by an average of 4–5% for the 2026–27 financial year, with the revision expected to be announced on March 31 and implemented from April 1, according to officials familiar with the development.
“The office of the Inspector General of Stamp and Registration is finalising the proposal and it is expected to be announced on March 31,” a senior revenue department official said, requesting anonymity.
Officials indicated that the hike could vary between 3% and 10%, with sharper increases likely in regions witnessing major infrastructure expansion, including parts of the Mumbai Metropolitan Region, Nashik, and areas linked to projects such as the Shaktipeeth corridor and the extension of the Samruddhi Expressway.
Raajesh Prajapati, committee member of CREDAI MCHI, said the revision may dampen housing demand. “Calculation of premium FSI (floor space index), ancillary FSI, fungible FSI etc are based on the RR values. The more RR rates are hiked, the more property goes out of reach of home buyers. Costs are rising and every market, including metals and the sensex, is falling. So it is very likely that fewer people opt to buy a home in this warlike scenario,” Prajapati said.
RR rates, which represent the minimum property values for transactions, are revised annually based on registered deal values and vary by location. In Mumbai, they are determined at the ward level, while in other regions, tehsils are used as the base unit.
Despite initial concerns over the potential impact of the West Asia conflict on the real estate sector, the government has decided to proceed with the revision. A Mantralaya official said there were internal discussions on the timing of the hike.
“Chief Minister Devendra Fadnavis, who also heads the finance department, had expressed reservations about increasing RR rates under current conditions. However, the revenue department brought to the notice the widening gap between market rates and RR rates in several cities, along with potential revenue losses, showing the need for a revision. Accordingly, the chief minister has approved a reasonable hike for FY 2026–27,” the Mantralaya official said.
The revision is expected to generate at least Rs 3,000 crore in additional revenue, contributing towards the state’s Rs 68,600 crore target from stamp duty and registration collections for the fiscal year.
Source: Hindustan Times
