Ready Reckoner rates in Mumbai
In the Jan-Mar 2013 quarter, Mumbai has witnessed a slow down in the property launches. If sources are to be believed, then it was less than the Oct-Dec 2012 quarter launches which may be due to festivals like Diwali. As per research firm Liases Foras, in the Oct-Dec 2012 quarter, all over India including Mumbai [...] Continue Reading »
With the new ready reckoner (RR) in place by the state government, the black market in real estate sector is going to get dull. The use of black money in real estate transactions will be minimal. As per experts, the revised RR rates are equal to market rates at most of the localities in Mumbai. [...] Continue Reading »
Brihanmumbai Municipal Corporations (BMC) has finally listened to the citizens’ woes. The civic body has taken steps to make the new property tax system transparent to the public. To start with, Stamp duty Ready Reckoner (SDRR) rates are now displayed on the official website of the civic body. The RR rates form the base value [...] Continue Reading »
Most part of the previous year witnessed slump in real estate market. However, December 2012 saw a substantial recovery in home sales registrations. But according to the market experts, the rise in property registrations was only due to marketing gimmick and not a sign of revival. As per data from the Director General of Registrations, [...] Continue Reading »
The stamp duty officials in Mumbai have admitted to the errors about ready reckoner (RR) rates that were announced recently. It was noticed after a national daily published about RR rates being hiked by 1000 % in some parts of Western suburbs in Mumbai. Now, after the correction, the prices have been appropriately hiked from [...] Continue Reading »
Maharashtra Government has recently decided to raise ready reckoner (RR) rates in Mumbai by 30%. This is an excess hike compared to last year’s average increase of 12%. The increase in ready reckoner rates is going to affect properties in areas like Prabhadevi, Cuffe Parade and Worli. This increase has been levied from January 1, [...] Continue Reading »
Builders in Mumbai are a worried lot now over various issues. Maharashtra Chamber of Housing Industry (MCHI) met the state chief minister to reverse back the Ready Reckoner (RR) rates as it was in 2011. The builders also wanted a permanent solution for getting instant clearances for building projects. An abrupt increase of 46% in [...] Continue Reading »
