Maharashtra's RR rate pre-publication unlikely this year

The Maharashtra state government's plan to pre-publish ready reckoner (RR) rates for public feedback is unlikely to happen this year. Senior officials in the revenue department cited tight deadlines and unfinished rule amendments as challenges. Revenue Minister Chandrakant Bawankule had suggested making the proposed rates available online for public review. However, officials believe these plans may not be feasible. With only ten days remaining until the assembly session ends on March 26, essential rule changes have not yet been completed. Officials say that the rates will probably be updated directly, without allowing for public input. The proposed transparency measure aimed to let citizens see and comment on rates across various areas of the state. The revenue department is looking at an approximately 10% increase in RR rates throughout Maharashtra. This increase is influenced by factors like property registrations and infrastructure growth. Notably, the RR rates have not been revised for three years, partly due to elections last year. Officials stress that an increase is now due, especially as the government seeks more revenue for popular schemes. Experts have pointed out that there is a growing gap between RR rates and actual property sale prices. The state is aiming to raise an extra Rs15,000 crore through the new RR rates. It hopes to collect Rs55,000 crore from stamp duty this year, making it a major revenue source after GST and sales tax. Though officials believe the property market will stabilize after a possible delay in registrations due to higher stamp duty, developers warn the rate hike could raise property prices. Some suggest that instead of increasing RR rates, the government should focus on reducing corruption to boost revenue.