Synopsis
State Revenue Minister Chandrashekhar Bawankule has labeled rumors of a 10-15% hike in ready reckoner rates for Maharashtra as baseless, stating that no increase is planned and current factors are being assessed.Key Takeaways
- No increase in ready reckoner rates planned.
- Current survey to assess local property values.
- Committees in each district guide rate determination.
- Public suggestions are encouraged before April 1.
- Government aims to protect the poor and middle class.
Mumbai, March 12 (NationPress) State Revenue Minister Chandrashekhar Bawankule dismissed the speculation regarding a 10 to 15 per cent rise in ready reckoner rates in Maharashtra effective from April 1 for the fiscal year 2025-26.
The Ready Reckoner Rate serves as the minimum property value set by the government, used as a reference for property transactions and taxation.
In a statement to the Maharashtra Legislative Council, he indicated that a survey is currently being conducted statewide concerning ready reckoner rates.
Over the past several years, ready reckoner rates have seen increases in certain regions, while remaining unchanged in others. He confirmed that there has been no rate hike for the years 2023-24 and 2024-25.
“Claims circulating in some media outlets about a 10-15 per cent increase in rates are without basis,” he stated.
The Minister emphasized that the government has no plans to elevate ready reckoner rates in any region of the state. However, factors such as local conditions, development pace, and demand-supply dynamics are being taken into account when determining prices.
A committee operates in each district, led by the District Collector, which sets the ready reckoner rates based on input from local representatives and experts, he noted.
He also mentioned that reductions in ready reckoner rates may be considered where necessary.
This response came after various suggestions were presented by Sunil Shinde, Anil Parab, and Sachin Ahir in the Upper House.
“Different asset types exist across various parts of Mumbai, leading to significant differences between high-rise buildings, SRA (State Rehabilitation Authority) projects, and slum rehabilitation schemes. Consequently, distinct ‘value zones’ are established for each area,” explained Minister Bawankule.
He assured that necessary care will be exercised while fixing the ready reckoner rates to prevent any injustice to the poor and middle class.
The Minister acknowledged that the government is considering public suggestions and objections submitted on January 9.
He urged the public to provide further suggestions and submit them to the state government before April 1.
He reiterated that the government will not impose unnecessary increases to ready reckoner rates and may even reduce prevailing rates if warranted.
In a related note, Chief Minister Devendra Fadnavis advised citizens against falling victim to various schemes promising high interest rates.
Responding to legislator Shashikant Shinde regarding the Torres scam case, he remarked that 99 per cent of such high-interest schemes are fraudulent, asserting that no one can sustain high interest payments.
“It is feasible to offer two to four per cent above the bank's interest rate, but anything significantly more is dubious,” he added, reiterating his warning against investing in such schemes.
Minister of State for Home, Yogesh Kadam, mentioned that an Economic Intelligence Unit is being established to oversee investment and financial institutions within the state.
Legal actions are underway to recover funds for investors affected by the Torres case, he confirmed.
