Mumbai: The Maharashtra government, on Monday, has decided not to revise the ready recknor (RR) rates as of now, but continue the application of rates fixed for 2019-20 for the period from April 1 to May 31, 2020.
The decision has been taken in the wake of the nationwide lockdown because of the coronavirus pandemic and the economic downturn. FPJ, last week, broke the story that the government has decided not to declare the new RR rates on March 31 due to lockdown.
FPJ also indicated that the government may prefer a status quo in the RR rates. The RR rates are based on sale transactions in different zones of the city in a year.
They are set in five categories: on open land, residential buildings, offices, shops and industrial areas, based on which stamp duty is levied on the built-up area of the property.
Inspector General of Registration Omprakash Deshmukh, on Monday, issued a two-page notification saying that property buyers will pay the RR rates of 2019-20 between April 1 and May 31. He further said that the government will take further decisions thereafter.
