Saturday, January 2, 2010

Property in Maharashtra to cost more with new ready reckoner

Maharashtra government today increased the market value of real estate by 10-20 per cent in its Ready Reckoner 2010
The ready reckoner is a guide for the market price of residential and commercial properties, based on which stamp duty and registration fee for their sale and purchase are calculated.

Under the revised rates, a land owner would have to pay more stamp duty because his land got more expensive; the developer would raise the sale price of his finished property since his land acquisition cost got higher; and a retail buyer would have to cough up more for property, stamp duty and registration fee.

This is likely to have its rippling effect on redevelopment of old, dilapidated buildings in Mumbai and surrounding Tier II cities, too.

“The state government expects to mobilise Rs 5,075 crore through stamp duty and registration fee by the end of 2009-10,” a senior state government official, who did not want to be quoted, said, justifying the rate revision.

To read more, please, visit Busniess Standard

Related Stories:

1) Saturday, December 26, 2009
From January 2010, you may have to pay more stamp duty and registration charges

Property buyers in Pune and Pimpri-Chinchwad, as well as in Pune district, Happy New Year!

2) Wednesday, November 18, 2009
Now, you have to pay flat 1 % registration charges!

Narayan Rane lifts the stay and cancels the maximum cap of Rs30,000

Subscribe for Free!

To receive free emails or free RSS feeds, please, subscribe to Ravi Karandeekar's Pune Real Estate Market News Blog

For my blogs on real estate projects near Hinjewadi, real estate investment, advertising and other related topics, please, visit and join my Ravi Karandeekar's Pune Real Estate Blog Group

No comments:

Post a Comment