PUNE: Maharashtra govt is unlikely to change the existing Ready Reckoner (RR) rates on April 1 ahead of the Lok Sabha poll announcement, followed by the enforcement of the model code of conduct.
A source in the govt on Wednesday said the state would consider the LS polls and the of the real estate market sentiment before deciding on the rates. “The elections are likely to affect the announcement of the RR rates. Govt may decide to maintain the status quo. The final decision will be taken after discussion,’‘said the source
A senior official from the revenue department in the Mantralaya confirmed that no proposal has been put forth yet regarding the RR rates with the LS polls likely to be announced soon. The official said if the government decided to go ahead with the revision, they would have to seek EC’s permission for any change in the rates as it may violate the model code of conduct.
The RR rates were last revised in September 2021. For the last two years, the rates have been kept constant. However, with the registration figures remaining steady and the revenue collection target revised to Rs50,000 crore, developers’ bodies have requested govt not to change the rates ahead of the LS polls. Credai national governing council member Shantilal Kataria said it would be better if the RR rates were reviewed after the LS elections.
Homebuyers expected the rates to be unchanged now. “Govt is unlikely to announce something that may not go down well with the voters,’‘said Seema Bisht,an entrepreneur.
Mandar Tikar, who recently bought a house, said the RR rates in the state should be “kept constant for at least a three-year period.”
