Mumbai, March 31 – In a significant move to strengthen the state's real estate sector, the Maharashtra government has decided not to increase the Ready Reckoner rates for the 2026-27 financial year.
The Office of the Inspector General of Registration and Controller of Stamps announced on Tuesday that the rates, effective from April 1, 2026, will remain the same as the previous year (2025-26).
This decision was finalized by Revenue Minister Chandrashekhar Bawankule following directives from Chief Minister Devendra Fadnavis.
Minister Bawankule stated that by maintaining stable rates for 2026-27, the government aims to ensure that ordinary citizens do not face additional financial burdens during property transactions.
The Ready Reckoner rate, or circle rate, is the minimum property value set by the state government for a specific area, used as a benchmark to calculate stamp duty and registration fees.
This ensures fair taxation, prevents undervaluation of property deals, and is updated annually based on location, amenities, and market trends, according to a revenue department official.
"Despite maintaining stable rates, the Department of Registration and Stamps has recorded a massive surge in revenue. For the 2025-26 fiscal year (as of March 30, 2026), the state collected a total of Rs 60,568.94 crore. The ‘I-Sarita’ system remained the primary contributor, accounting for Rs 49,534 crore of the total collection," Minister Bawankule stated.
He further added that the government has set a mobilization target of Rs 68,600 crore through stamp duty and registration fees in the annual budget for 2026-27.
While the rates remain unchanged, Minister Bawankule said that the department has implemented several technical updates to the Annual Statement of Rates to ensure accuracy.
These include the implementation of approved Regional and Development Plans, the registration of new survey numbers, and corrections regarding missing villages or village names. These measures are designed to make the document registration process more transparent and realistic, he added.
According to the government release, data from previous years highlights fluctuations in Ready Reckoner rates across the state.
"In 2017-18, an average increase in Ready Reckoner rates was 5.86 per cent, in 2020-21, a marginal hike of 1.74 per cent due to the COVID-19 pandemic. In 2022-23, a 4.81 per cent increase, which remained unchanged for the following two years. In 2025-26, the rural areas saw a 3.36 per cent hike, municipal councils 4.97 per cent, and municipal corporations 5.95 per cent. The Mumbai Municipal Corporation area saw a 3.39 per cent rise," the release stated.