Mumbai, March 31: In a significant relief to homebuyers and developers, the Maharashtra government has decided to keep Ready Reckoner (RR) rates unchanged for the financial year 2026–27, maintaining status quo across the state amid global uncertainties and rising construction costs.
Consultations and industry feedback
Officials said the annual rate-setting process involved consultations with construction professionals, document writers, and public representatives at the district level to ensure wider participation. Industry bodies had urged the government to avoid a hike this year, citing global headwinds and cost pressures in the construction sector.
The Free Press Journal had reported that the RR rate may not increase due to geopolitical situation and inflation.
Real estate stakeholders have welcomed the decision, saying it will help sustain demand and maintain affordability.
Prashant Sharma, President of NAREDCO Maharashtra, termed the move “timely and pragmatic,” adding that stable RR rates will support market sentiment amid global uncertainties.
Kamlesh Thakur of Srishti Group said the decision would ease cost pressures on developers and prevent additional financial burden on homebuyers.
Kaushal Agarwal of The Guardians Real Estate Advisory noted that any increase at this stage could have impacted transaction volumes in a price-sensitive market like Mumbai.
Shraddha Kedia-Agarwal of Transcon Developers added that stable rates would help developers plan pricing strategies more effectively while maintaining buyer confidence.
Stability in property market
With RR rates remaining unchanged, experts believe the move will provide stability to the property market and support continued momentum in housing demand in the coming year.
The Annual Statement of Rates (ASR), which determines the minimum property valuation for stamp duty and registration, is notified every year on April 1 by the Inspector General of Registration under provisions of the Maharashtra Stamp Act.
Past revisions and current freeze
The latest decision follows a series of calibrated revisions over the years. The state had increased RR rates by 5.86% in 2017–18, followed by a pause for two years due to a slowdown in the real estate sector. During the pandemic-hit 2020–21, rates saw only a marginal increase of 1.74%.
In 2022–23, the state implemented a 4.81% hike, which was subsequently maintained for two consecutive years. In 2025–26, RR rates were raised moderately, with an average increase of 4.39% across the state (excluding Mumbai), while the Brihanmumbai Municipal Corporation area saw a lower rise of 3.39%.
However, for 2026–27, the government has opted for a complete freeze on rates across rural, urban, and influence zones, indicating a cautious approach in the current economic environment.
Technical updates incorporated
While rates have been kept unchanged, the government has carried out technical updates, including incorporating revised development plans, correcting village records, and rationalising micro-level pricing divisions to reflect ground realities.
Strong revenue performance
Despite stable rates, the state has recorded robust revenue from stamp duty and registration. Data shows that Maharashtra collected Rs 60,568.94 crore between April 1, 2025 and March 30, 2026, achieving over 95% of its target of Rs 63,500 crore.
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March alone contributed Rs 6,641.61 crore, the highest monthly collection during the financial year, reflecting strong year-end property transactions.
Application-wise, the bulk of revenue came through digital platforms, with the ‘I-Sarita’ system accounting for over Rs 49,500 crore, followed by adjudication services and other online mechanisms.
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