Mumbai

State defers announcement on ready reckoner rates

No business: Operations at dhobi ghat have stopped for the last five days. The ghat usually washes clothes from hospitals, Railways, and also general public.

No business: Operations at dhobi ghat have stopped for the last five days. The ghat usually washes clothes from hospitals, Railways, and also general public.  

Govt. has not collected fresh market data in wake of lockdown

The Maharashtra government on Thursday said it had deferred the announcement of the new ready reckoner rates (RR) due on March 31.

State Revenue Minister Balasaheb Thorat said the State Registration and Stamps Department has not been able to collect fresh market data over the past few days in the wake of the COVID-19 lockdown and is unable to carry out any valuation of properties.

In such a scenario, it is advisable to put off the announcement until further notice, he said. “For the past 15 days, officials and employees of the Revenue Department have been involved in duties to save the public from the coronavirus crisis. This year’s ready reckoner rates will not be announced on March 31. Only after Maharashtra comes out of the crisis will we take stock of the rates,” Mr. Thorat said.

The RR rates this year were expected to increase, on an average, below 10% since the government had clear intentions of rationalising and not correcting it due to stagnation in the real estate industry.

The builder lobby had already petitioned the government to put off the announcement in the wake of the prevailing market scenario. In earlier years, the government had put off the announcement of RR for a period of three months due pressure from the lobby. The RR rates are based on sale transactions in different zones of the city in a year. They are set in five categories: on open land, residential buildings, offices, shops and industrial areas, based on which stamp duty is levied on the built-up area of the property.

“But now most of the government is working on the ‘corona’ battlefield to ensure that essential commodities reach people in a timely manner. Micro-planning is under way to provide flour to citizens. We have instructed district collectors to provide adequate fuel to the harvesting machines, which have arrived from Punjab,” Mr. Thorat said.

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Printable version | Apr 3, 2020 1:20:42 AM | https://www.thehindu.com/news/cities/mumbai/state-defers-announcement-on-ready-reckoner-rates/article31177482.ece

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