Thane, April 2 Real estate developers in Thane, Maharashtra, have welcomed the state government's decision to maintain the existing Ready Reckoner rates, calling it a positive step for the sector.
In a press release on Thursday, the Thane chapter of the Confederation of Real Estate Developers' Associations of India said that stable Ready Reckoner rates will help boost confidence among homebuyers and investors, especially during uncertain global economic times.
The Ready Reckoner rate is the minimum rate based on which the government charges registration fees and stamp duty for any property-related transaction.
"This decision enables developers to plan and price projects more effectively, without the added burden of increased statutory costs," said its president Sachin Mirani.
Revenue Minister Chandrashekhar Bawankule had said on Wednesday that the state government had avoided a proposed 12 to 14 per cent increase in the Ready Reckoner rates this year in view of the ongoing West Asia crisis and resulting global conditions.
