Ready Reckoner Rate Remain Unchanged In Maharashtra, Spell Boon For Real Estate Sector

Ready Reckoner Rate Remain Unchanged In Maharashtra, Spell Boon For Real Estate Sector

Maharashtra government’s decision to keep stamp duty unchanged in the state for 2024-25 hailed by realty association office bearers

Sheetal S PatilUpdated: Friday, May 03, 2024, 09:09 PM IST
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The ready reckoner rate update, announced by the Maharashtra government, on the eve of two key festive buying occasions, has put big smiles on the faces of home seekers and given the entire real estate sector reason to rejoice as well.

Prashant Sharma, President, NAREDCO Maharashtra, said, “We appreciate the Maharashtra government’s decision to not raise the ready reckoner rates in the state for 2024-25. This is a positive step taken by the government which will help improve market sentiments and boost the property market. NAREDCO Maharashtra had requested the state government to not increase the ready reckoner rates and we thank them for keeping the rates unchanged. This will be a great step to sustain the growth momentum.”

Pritam Chivukula, Vice President, CREDAI-MCHI, emphasised, “We welcome the state government’s decision to not increase the ready reckoner rates. Home buyers will have much to cheer about given that property prices will not go up as for now. This move will improve market sentiments boosting the growth of the housing sector. Now, we can expect more and more home buyers to come forward and buy their home before any further increase in property rates.”

Jitendra Mehta, President, CREDAI-MCHI Thane, said the ready reckoner rate update will help ensure sentiment in Thane’s real estate remains positive. “The home buyer will get a positive outlook as a result of the ready reckoner rate update, since it keeps the cost of buying a home in the new fiscal year at the same level as in the previous one, which will be positive for Thane’s real estate. Thane’s real estate has been on a positive track in the past few years, and given the wide array of budgets and segments that homes are offered, it has definitely been on the wish list of home seekers. Home buyers have been buying not just ready to move in, but also under construction properties in Thane. This points to a positive outlook, and we welcome the ready reckoner rates remaining unchanged,” he concluded.

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