Maharashtra Government Keeps Ready Reckoner Rates Unchanged For 2026-27, Providing Major Relief To Real Estate Sector

Mumbai: In a significant relief to the real estate sector, the Maharashtra government has decided to keep Ready Reckoner (RR) rates unchanged for the financial year 2026–27. The rates, effective from April 1, 2026, will remain at the same level as 2025–26, the Office of the Inspector General of Registration and Controller of Stamps announced.

Decision Taken Amid Speculation of Hike

The decision was taken by Revenue Minister Chandrashekhar Bawankule following directions from Chief Minister Devendra Fadnavis. The announcement came on Tuesday, the last day of the financial year, amid earlier speculation that RR rates could be increased by an average of 4–5 per cent, particularly in regions like the Mumbai Metropolitan Region (MMR), Nashik and other fast-developing areas witnessing major infrastructure projects such as the Shaktipeeth Corridor and the Samruddhi Expressway extension.

RR rates have seen periodic revisions over the years. In 2017–18, rates were increased by an average of 5.86 per cent, while a modest hike of 1.74 per cent was recorded in 2020–21 due to the COVID-19 pandemic. In 2022–23, rates rose by 4.81 per cent and remained unchanged for the next two years. In 2025–26, increases ranged from 3.36 per cent in rural areas to 5.95 per cent in municipal corporation areas, with Mumbai recording a 3.39 per cent rise. However, for 2026–27, rates have been kept stable across the state, providing relief to homebuyers.

State Witnesses Strong Revenue Growth

Despite no increase in rates, the state has witnessed a substantial rise in revenue from stamp duty and registration. As of March 30, 2026, total revenue stood at ₹60,568.94 crore. The ‘I-Sarita’ system contributed the largest share at ₹49,534.24 crore, followed by Adjudication 2.0 (₹4,429.70 crore), e-filing (₹1,238.26 crore), online leave and licence (₹316.69 crore), and other sources (₹5,050.05 crore).

The government has also introduced several technical updates to streamline valuation tables, including implementation of approved development plans, addition of new survey numbers, and correction of village records. These measures aim to make property registration more transparent and realistic.

Industry Bodies’ Demand for Status Quo

Considering global economic conditions and the slowdown in the construction sector, industry bodies such as CREDAI had urged the government to maintain the status quo on RR rates. Taking into account stakeholder feedback and market realities, the government opted for a zero per cent hike to boost the sector.

The registration and stamps department has shown steady growth over the years. While the revenue target for 2025–26 was ₹63,500 crore, the state has already achieved ₹60,568.94 crore with over 45.6 lakh documents registered, indicating strong performance despite a stable rate regime.

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