Discover Ready Reckoner Rates in Pune
Jun 22, 2023Pune Real Estate

Discover Ready Reckoner Rates in Pune

by Godrej Properties Limited

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Ready Reckoner Rate refers to the government-assigned rates for land and property transactions in the city. These rates determine Stamp Duty and Registration Charges while undertaking property transactions. Understanding the Ready Reckoner Rate is crucial for buyers and sellers in Pune's real estate market. Since Pune has had a significant presence in the automobile, manufacturing, and IT industries for years, the Ready Reckoner rate of Pune in 2020 - 2021 was very high. 

Pune Location and Property Type

Residential Properties

This category would include rates for apartments, flats, independent houses, and residential plots in various areas of Pune. Ready reckoner Rates can vary significantly depending on the location, amenities, infrastructure, and demand for residential properties in a particular site.

Commercial Properties

Commercial-Ready Reckoner Rates would cover office spaces, retail shops, showrooms, commercial complexes, and industrial properties in Pune. Rates for commercial properties are generally higher than residential rates due to factors like prime locations, business potential, and infrastructure requirements.

Agricultural and Non-Agricultural 

This category would include rates for agricultural and non-agricultural land in Pune. Agricultural land is typically meant for farming purposes, while non-agricultural land can be used for residential, commercial, or industrial purposes. The agricultural and non-agricultural private or government land rates can differ significantly based on factors like proximity to urban areas, development potential, and land use regulations.

Remember, these categories are general classifications, and the actual Ready Reckoner Rates may vary depending on specific factors such as the property's location, size, and condition. It’s always advisable to refer to the Maharashtra government website or consult with a local real estate expert for the most accurate and up-to-date information on Ready Reckoner Rates in Pune.


Frequently asked questions 

1. Who determines the Ready Reckoner Rate in Pune? 

Ans: The Ready Reckoner Rate is determined by the Maharashtra state government's Revenue Department in consultation with local authorities. The rates are revised periodically based on location, infrastructure, demand, and market trends.

2. How is the Ready Reckoner Rate used in property transactions?

Ans: The Ready Reckoner Rate calculates the Stamp Duty and Registration charges that buyers and sellers must pay during property transactions. The Stamp Duty is a percentage of the property's value, as per the Ready Reckoner Rate, while the Registration charge is a fixed fee based on the property's value.

3. Can the Ready Reckoner Rate be challenged or appealed?

Ans: The Ready Reckoner Rate is determined by the government and is generally not subject to individual challenges or appeals. However, if you believe the assigned rate is significantly higher or lower than the actual market value, you may approach the appropriate authorities with relevant supporting documents to request reassessment or correction.
 

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