NASHIK: The pandemic has led to a slight increase in ready reckoner (RR) rates over the past two years. Therefore, there is talk in the housing and construction sector of a hike up to 20 per cent in RR rates this year.
This may have a direct impact on the construction industry and will increase house prices. In addition, the subsidy under the Prime Minister’s affordable housing scheme is also coming to an end. In the meantime, an increase in the rate of ready reckoner will result in a huge burden in form of stamp duty.
Therefore, it is being demanded that the rate should not be hiked; where rates need to be increased, real rates need to be considered. Generally, if ready reckoner rates increase by 20 per cent, house prices vary by up to 50 per cent.
The state government has enacted a law to repeal the increase in RR rates. However, there are also complaints that the survey number does not take into account the distance from the main road. Apart from this, there is also an increase in the duty at the time of buying a house.
If RR rate increases by 20%:
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Development tax: 20%
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Premium charges: 20%
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Ancillary charges: 20%
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TDR: 20%
