Maha to introduce separate Ready Reckoner rates for skyscrapers, slums

Mumbai, June 10 (IANS) The Maharashtra government has decided to establish separate Ready Reckoner (RR) rates for skyscrapers and slums located within the same vicinity.

Moving away from the uniform pricing model, future property rates will be categorised on the basis of infrastructure and amenities available in the respective areas.

State Revenue Minister Chandrashekhar Bawankule on Wednesday announced the decision while marking the completion of Prime Minister Narendra Modi’s 12 years in office.

The RR rate is the minimum property value fixed by the government for a specific locality. No property can be legally registered below this benchmark.

Minister Bawankule said a comprehensive three-phase survey campaign has been launched across the state using micro-zoning techniques, beginning with Mumbai.

The Maharashtra Remote Sensing Applications Centre (MRSAC) has been officially appointed to spearhead the survey.

The Revenue Department has initiated the process in accordance with the Maharashtra Stamp (Second Amendment) Government Bill No. 9, which was introduced in the Legislative Council during the Budget Session of the state legislature.

The Revenue Department is fast-tracking preparations to implement the decision by the next financial year immediately after the completion of the survey.

The revised rating structure will subsequently be extended to all major municipal corporations across the state within two years.

According to the minister, for preparing the Annual Statement of Rates (ASR) for the financial year 2027-28, Mumbai’s City Survey Numbers and localised developmental features will undergo detailed micro-zoning.

“Historically, slums, chawls and luxury high-rises situated in the same neighbourhood were subjected to identical standard property rates. The new system will eliminate these discrepancies, ensuring fair, realistic and infrastructure-linked property valuation.

“MRSAC will deploy GIS-based (Geographic Information System) mapping to gather precise spatial data across urban, rural and high-influence zones in Maharashtra. These accurate maps will guide the Inspector General of Registration (IGR) in publishing fairer property assessment values annually,” he said.

Minister Bawankule said the initiative would bring unprecedented transparency to the state’s Ready Reckoner rates.

“It is set to provide significant financial relief to ordinary citizens, the middle class and slum dwellers during property transactions in major metros like Mumbai.

“Following the successful execution in Mumbai, micro-zoning will be expanded to the rest of the state in two subsequent phases. Chief Minister Devendra Fadnavis initiated this reform directly in response to feedback and suggestions from the common public,” he added.

–IANS

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