Pune district collector proposes 3% hike in ready reckoner rate
The district collector of Pune has proposed a 3% hike in the Ready Reckoner (RR) rates for the city. The proposal will be sent to the department of registration and stamps. A final announcement of the rates is expected after a thorough review on April 1.
The proposed hike was opposed by elected representatives who cited demonetisation and overall lull in the realty sector and the slight dip in registrations and stamp duty collections.However, the collector recommended a marginal hike basing it on the survey and parameters conducted by the town planning department on the sales and registration data of each area.
Last year, the recommended hike was 3.6% in the preliminary RR rate meetings.