Ready reckoner rates to go unchanged

Mumbai: The Maharashtra government will not increase the ready reckoner rates in the Mumbai Metropolitan Region (MMR), as per the recommendations made by the Cabinet sub-committee on Monday. Senior ministers said that orders would be issued soon.

The state government has appointed a sub-committee under the chairmanship of revenue minister Chandrakant Patil and finance minister Sudhir Mungantiwar. Housing minister Prakash Mehta and health minister Dr Deepak Sawant are members of the sub-committee, 

which has been tasked with deciding whether or not the government should increase ready reckoner rates from April 1, 2018.

A senior minister said, “The real estate sector is facing many problems and lakhs of homes are lying vacant owing to lesser demand in the MMR.

 Housing rates are not affordable and the house buyer has been burdened with higher stamp duty calculated on the basis of ready reckoner rates and 28 per cent GST.”