Ready reckoner: Koregaon Park to be costliest followed by Kothrud
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Koregaon Park will continue to be the costliest area in Pune, followed by Kothrud, Erandwane, Aundh, Shivajinagar and Sadashiv Peth. The town planning department has submitted its recommendations for finalising the ready reckoner rates to be released in the beginning of 2014 by the Inspectorate General of Registration and Stamps.
With a 10-15 per cent rise proposed this time, it is less than last year's 10-20 per cent hike in the areas.
"We have given these recommendations according to the transactions taking place in these areas. We have stated that Ghorpadi is the highest with Koregaon Park being part of it, followed by Erandwane, Shivajinagar and Aundh areas," said a town planning department official.
The town planning department said the rates were going up in Lonavala too as a huge number of transactions were taking place in the area. "The area rates will go up by 20-25 per cent," said the official, adding that the area saw huge transactions last year.
However, transaction figures with the IGR office showed that more documents had been processed this year than that in last year and the collection too had been more this year. Officials said the rates were not related to the transactions alone, the market value of the area mattered too.
According to figures for the city obtained from the IGR office, 1,32,836 documents were processed from April to October 2012 and the stamp duty collected during this period was to the tune of Rs 1,234.41 crore. The corresponding figures this year were 1,39,395 documents processed and Rs 1,391.98-crore stamp duty collected. For the rural areas, as many as 71,917 documents were processed last year and Rs 296.50-crore stamp duty collected, as against 74,678 documents processed this year and Rs 353.85-crore stamp duty collected.
With a proposed 20 per cent rise in the ready reckoner rate for rural areas, town planning officials said there was a lot of scope for expansion.
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