Prices of flats in Pune to increase; Proposal submitted to government to hike Ready Reckoner rates
Pune : NpNews24 Online – Pune Ready Reckoner Rate | Buying a house in Pune will now burn a bigger hole in your pocket. The Registration and Stamp Duty Department has prepared a proposal to increase the Ready Reckoner rates. Hence, prices of flats are going to increase in Pune. (Pune Ready Reckoner Rate)
The prices of flats have increased in Pune and the decision of the government will make houses more expensive.
The Registration and Stamp Duty Department has submitted a proposal to hike the Ready Reckoner rates. In Pune, a hike of 8 to 15 per cent, 10 to 15 per cent in PCMC area and five to seven per cent in Pune rural area. Ready Reckoner rates are revised from April 1, 2023 and this will lead to increases in prices of flats.
The state government has not approved the proposal. However, if this proposal is cleared, it will lead to flats becoming dearer. While finalising the rates, the department has studied property transactions over last 11 months. In Pune, Ready Reckoner rates were stable in 2018-19 and 2019-20. In 2020-21 there was a hike of 1.25 per cent and 5 per cent in 2021-22 and 9.2 per cent in 2022-23. However, now, a hike of 15 per cent has been proposed. If this hike is approved, this will be the largest ever hike in the rates.
In the coming year, some big projects are being executed in rural areas of Pune district. The new airport at Purandar, Ring Road, Metro, rail route, MIDC estate and road widening are proposed. The rates of land have increased. This will have an impact on the prices of flats which are going to increase.
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