Mumbai, March 31 (IANS) In a significant move to bolster the state’s real estate sector, the Maharashtra government has decided not to increase the Ready Reckoner rates for the 2026-27 financial year.
The Office of the Inspector General of Registration and Controller of Stamps on Tuesday announced that the rates effective from April 1, 2026, will remain at the status quo compared to the previous year (2025-26).
This decision was finalised by Revenue Minister Chandrashekhar Bawankule following directives from Chief Minister Devendra Fadnavis.
Minister Bawankule said that by keeping rates stable for 2026-27, the government aims to ensure that common citizens do not face an additional financial burden during property transactions.
The Ready Reckoner rate, or circle rate, is the minimum property value set by the state government for a specific area, used as a benchmark to calculate stamp duty and registration fees.
It ensures fair taxation, prevents undervaluation of property deals, and is updated annually based on location, amenities, and market trends, said a revenue department officer.
“Despite maintaining stable rates, the Department of Registration and Stamps has recorded a massive surge in revenue. For the 2025-26 fiscal year (as of March 30, 2026), the state collected a total of Rs 60,568.94 crore. The ‘I-Sarita’ system remained the primary contributor, accounting for Rs 49,534 crore of the total collection,” Minister Bawankule stated.
He further added that the government in the annual budget for 2026-27 has set a mobilisation target of Rs 68,600 crore through stamp duty and registration fees.
While the rates remain unchanged, Minister Bawankule said the department has implemented several technical updates to the Annual Statement of Rates to ensure accuracy.
These include implementation of approved Regional and Development Plans, registration of new survey numbers, and corrections regarding missing villages or village names. These measures are designed to make the document registration process more transparent and realistic, he added.
According to the government release, data from previous years highlights fluctuations in Ready Reckoner rates across the state.
“In 2017-18, an average increase in Ready Reckoner rates was 5.86 per cent, in 2020-21, a marginal hike of 1.74 per cent due to the COVID-19 pandemic. In 2022-23, a 4.81 per cent increase, which remained unchanged for the following two years. In 2025-26, the rural areas saw a 3.36 per cent hike, municipal councils 4.97 per cent, and municipal corporations 5.95 per cent. The Mumbai Municipal Corporation area saw a 3.39 per cent rise,” said the release.
--IANS
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