The Maharashtra government has decided to establish distinct Ready Reckoner (RR) rates for skyscrapers and slums located in the same area. This move shifts away from the uniform pricing model, with future property rates categorized based on the infrastructure and amenities available in each locality. State Revenue Minister Chandrashekhar Bawankule announced this decision while commemorating Prime Minister Narendra Modi’s 12 years in office.
A comprehensive three-phase survey campaign has been initiated across the state, starting with Mumbai, using micro-zoning techniques. The Maharashtra Remote Sensing Applications Centre (MRSAC) has been tasked with leading this survey. The Revenue Department has kickstarted the process in line with the Maharashtra Stamp (Second Amendment) Government Bill No. 9, introduced in the Legislative Council during the Budget Session.
Minister Bawankule mentioned that preparations are underway to implement the decision in the next financial year post-survey completion. The revised rating structure will be gradually extended to all major municipal corporations in the state within two years. For the financial year 2027-28, Mumbai’s City Survey Numbers and local developmental features will undergo detailed micro-zoning to prepare the Annual Statement of Rates (ASR).
The new system aims to eliminate discrepancies where slums, chawls, and luxury high-rises in the same area were subjected to identical property rates. By linking property valuation to infrastructure, the government seeks to ensure fair and realistic property assessments. Minister Bawankule highlighted that this initiative would enhance transparency in the state’s Ready Reckoner rates, providing financial relief during property transactions, particularly in major cities like Mumbai.
Following successful implementation in Mumbai, micro-zoning will be expanded to the entire state in two subsequent phases. Chief Minister Devendra Fadnavis initiated this reform based on feedback and suggestions from the public, aiming to benefit ordinary citizens, the middle class, and slum dwellers.
