Pune: Ready reckoner rates hiked despite the slowdown, no relief for home buyers

Sakal Times News Desk
Saturday, 12 September 2020

Inspector General of Registration Omprakash Deshmukh announced the increase in ready reckoner rates for the current year. This year, for the first time, the existing ready-reckoner rates have been reduced in some parts of the state, while a slight increase is proposed in some areas. Deshmukh said that the increase will be implemented from midnight on Friday (September 11).

Pune: The Department of Registration and Stamp Duty has announced an average increase in the ready reckoner rates by 1.74 per cent in the state and 2.81 per cent in rural areas. Municipal Councils and Nagar Panchayats have seen an increase of 1.29 per cent, while municipal corporation areas have seen an increase of 1.74 per cent. The highest growth in the state is in Pune city, Pimpri-Chinchwad city and rural areas of Pune district.

Inspector General of Registration Omprakash Deshmukh announced the increase in ready reckoner rates for the current year. This year, for the first time, the existing ready-reckoner rates have been reduced in some parts of the state, while a slight increase is proposed in some areas. Deshmukh said that the increase will be implemented from midnight on Friday (September 11).

Ready reckoner rates are announced by the state government on April 1 of each year. For the last two years, the state government had given relief to the citizens by keeping the rates unchanged. Meanwhile, officials and employees of the revenue department were engaged in the coronavirus outbreak management work since March.

Therefore, the government decided to keep the ready reckoner rates unchanged for the current financial year till May 31, 2020. A revised order was then issued by the state government stating that it was being stayed till further order. However, it was decided to increase the ready reckoner rate on Friday.

Deshmukh said there was a slight increase in ready reckoner rates in view of the economic downturn and the backdrop of the Covid-19 outbreak. He said that in rural areas of the state, the average increase has been 2.81 per cent in villages, 1.89 per cent in villages in the affected areas, 1.29 per cent in municipal councils and Nagar panchayats and 1.74 per cent in municipal corporation limits.

Year-on-year growth in Ready Reckoner rates in the state till date
2011-12 - 18 per cent
2012-13 - 37 per cent
2013-14 -27 per cent
2014-15 - 22 per cent
2015-16 - 14 per cent
2016-17 - 7 per cent
2017-18 - 5.30 per cent
2018-19 - No increase
2019-20 - No increase
2020- 21 - 1.74 per cent

Pune District:
* Average growth in rural areas of Pune district is 8.62 per cent
* Growth in the influence zone is 2.92 per cent
* Increase in municipal council jurisdictions is by 5.4 per cent
* 1.25 per cent increase in Pune Municipal Corporation jurisdiction
* Increase in Pimpri Chinchwad Municipal Corporation jurisdiction is 3.41 per cent
* Total growth in Pune district is 3.91 per cent

Earlier, the Maharashtra Stamp Act had provisions for only an increase in the rate of ready reckoner. There was no provision to cut rates. The law was amended two years before and a provision for a reduction in rates was included. Using it for the first time this year, the current rate in Mumbai has been reduced by 0.6 per cent. Deshmukh said the rate of ready reckoner has been reduced in many parts of the state.

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