According to the cabinet decision, the ready reckoner rates
are decided as per the 1995 formulas
To control the soaring ready
reckoner (RR) rate, the Maharashtra government has made it mandatory for the
town planning branch of the revenue department to refer to the given directives
while calculating the government rates each year.
According to the cabinet
decision, the ready reckoner rates are decided as per the 1995 formulas. “That
includes the land value, construction qualities, advantages and disadvantages,
education facilities, transport and appreciations in property. But most of the
times, these directives are not considered while fixing and increasing the
government rates. Now, it will be mandatory to refer to these directives, and
then hike the rates. This will give a true picture of that particular
locality,” the cabinet notice stated.
The government had made an
amendment to the Bombay Stamp (Determination of True Market Value of Property)
Rules, 1995 and the revised rules were issued through a gazette notification.
“Due to a haphazard rise in
property rates at most locations, the rates provided by private builders are
usually higher. The stamp duty and registration is based on the government
rates. In that case, the builder has no options but to increase the property
rates. It makes it difficult for home buyers to buy a property. We want to control
the prices therefore the given directives have to be followed while deciding
the RR rates,” said an official from the state revenue department.
CHANGE IN DATES
Earlier, the
Maharashtra government used to announce the rates on January 1 of every year,
but since last year, the RR rates are announced in April.
Credit : http://www.dnaindia.com/
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