Ready Reckoner plan: 10-25% rise likely in city property rates
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The 2013 ready reckoner (RR) of the government is expected to register a 10-25 per cent increase in property rates in the city. The RR rates-used for valuation of properties, stamp duty and registration charges-for various municipal and rural areas of the district have been submitted for the final nod.
The new RR will be effective from January 1. The last revision had seen an increase of 10-30 per cent for Pune city.
The department decides the rates for land and property to calculate stamp duty and registration charges in a particular area. The calculation is made either on the prevailing market rates or RR rate, whichever is higher.
Officials said property rates in fringe areas of the city will be lower than the rate in key areas of the city, as earlier. "Pune city is expected to register a 10-25 per cent increase. In prime areas, rates will continue to be higher than in fringe areas,'' said town planning officials.
In the last revision, RR rates in Peth and Gaothan areas of Pune city were up by 10 per cent while areas such as Kothrud, Sahakarnagar, Padmavati, Prabhat Road, Koregaon as well as newly developing areas such as Baner, Pashan, Vadgaon Sheri, Vishrantwadi had registered a 15-25 per cent increase.
While Peth and Gaothan areas with less space available for development, have lower rates, in rural areas the rates are expected to register a 20-25 per cent rise almost the same as the last time mainly for Haveli, Mulshi and Maval areas.
With a lot of construction activity in rural areas, the rates are only going to rise further, said officials. Haveli, Maval, Mulshi and Purandar and Baramati saw rates going up by around 20 per cent the last time.