By Naysa Shrivastava
The ready reckoner rate is the minimum value which is used by the government to determine the registration fees and stamp duty for real-estate transactions. This decision was taken by the Inspector General of Registration and Controller of Stamps including state town planning authority,the meeting was held on January 28. After getting sanctioned by the government, the proposal will be implemented from 1 April.
This will impact the properties containing houses, flats and commercial facilities because particularly they will see the high price rise. Multiple mega infrastructure development projects have been suggested by the state government under the Pune Metropolitan Regional Development Authority (PMRDA) areas which cover already planned airports at Purandar, railway project, ring road project, green corridor, extension of highways and township schemes. This could get high investments which will lead to high revenue generation for the government. The IGR anticipates substantial earnings with the rapid growth of the real estate market in PMC and PCMC.
The government invited all the 22 legislators from the district to join the ready reckoner proposal related meetings. All the recommendations given by the legislators will be taken on record before the government looks into the hike changes. The
problem was that only Wadgaonsheri MLA Bapusaheb Pathare showed up and no other public representatives participated in the meeting.
Pathare suggested, “50% cut is required in the given ready reckoner hike for the urban and rural areas. The idea of two rates for the land in the same survey number is not appropriate, this can be avoided. The areas which lack developmental proposals should be subjected to hike and funnel zones. Other reserved areas and Biodiversity Parks (BDP) should be considered under the ambit of ready reckoner rate.”
The final decision on the RR will be coming soon. As the changes will be made on the basis of market trends, real estate exhibitions and media reports. According to a senior official, GIS-based mapping will help in curating accurate data in the future.