RR rates out finally!
The ready reckoner (RR) rates is out in Mumbai city and the realty players bashed Maharashtra government for the rise in ready reckoner rates.
This new rates came into action from Sunday, bringing in change by five per cent and 30 per cent in Mumbai and rest of Maharashtra.
Realty players believe that the present TDR (transfer of development right) price Rs 2,000 per square feet is sure to have a heavy impact on land sales.
It is a fact that the investors and property buyers are already burdened and now with the context of same, The Maharashtra Chamber of Housing Industry has questioned the government on the intention behind sudden raise in RR rates.
Source: Business Standard
Investors, Land sales, Maharashtra, Maharashtra government, Mumbai, Property Buyers, Ready reckoner (RR) rates, Realty players, Sudden raise in RR rates, TDR (transfer of development right), The Maharashtra Chamber of Housing Industry
[...] other agencies. MCHI-CREDAI, a developers’ body, has requested the state government to reduce the ready reckoner rates that form the basis of stamp [...]