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By:

Bhalchandra Chorghade

11 August 2025 at 1:54:18 pm

No hike in ready reckoner rates

Real estate sector welcomes move Mumbai: The Maharashtra government has kept the Annual Statement of Rates (ASR), or ready reckoner rates, unchanged for the financial year 2026–27, signalling a calibrated approach aimed at maintaining stability in the real estate sector amid evolving economic conditions. The decision was announced by the Office of the Inspector General of Registration and Controller of Stamps, Pune. Under the Maharashtra Stamp (Determination of True Market Value of Property)...

No hike in ready reckoner rates

Real estate sector welcomes move Mumbai: The Maharashtra government has kept the Annual Statement of Rates (ASR), or ready reckoner rates, unchanged for the financial year 2026–27, signalling a calibrated approach aimed at maintaining stability in the real estate sector amid evolving economic conditions. The decision was announced by the Office of the Inspector General of Registration and Controller of Stamps, Pune. Under the Maharashtra Stamp (Determination of True Market Value of Property) Rules, 1995, ASR rates are revised annually and come into effect from April 1. These rates serve as the benchmark for property valuation for stamp duty and registration. Over the years, the state has followed a cautious revision strategy. After a 5.86 per cent increase in 2017–18, rates were kept unchanged in 2018–19 and 2019–20 due to a sectoral slowdown. During the pandemic-hit 2020–21, the revision was delayed until September and limited to 1.74 per cent. For 2026–27, however, the government has opted for a complete status quo, with no increase across the state. The move follows representations from industry bodies, including CREDAI, citing global economic uncertainty and a moderation in real estate activity. Long Process The ASR determination process involves multi-level consultations. District-level meetings are held with developers, document writers and other stakeholders, while public representatives’ inputs are incorporated through discussions chaired by district collectors. Objections and suggestions received during this process are evaluated before finalisation. Even as base rates remain unchanged, the government has introduced technical and administrative refinements to better reflect on-ground realities. In urban areas, changes in Development Plans (DPs) have been factored in. Adjustments have also been made in line with regional and local planning schemes, including revisions to valuation zones and sub-zones. Updates such as correction of village names, inclusion of new hamlets, and changes in survey and group numbers have been carried out. Micro-level adjustments through sub-classification have also been introduced. Strong Growth Meanwhile, Maharashtra has recorded strong growth in property registrations and stamp duty collections over the past three financial years. The number of registered documents rose from 27.9 lakh in 2023–24 to 43.12 lakh in 2024–25, and further to 45.60 lakh in 2025–26. Revenue collections under the 0030 head (stamp duty and registration fees) increased from Rs 50,042.80 crore in 2023–24 to Rs 58,266.07 crore in 2024–25, and further to Rs 60,568.94 crore in 2025–26. Monthly trends remained robust, with March 2026 recording the highest collection at Rs 6,641.61 crore, while December also posted strong inflows at Rs 5,595.35 crore. President of CREDAI-MCHI Sukhraj Nahar said, “The State Government has taken a significant and timely decision to maintain status quo on Ready Reckoner Rates for FY 2026–27, effective from 1st April. This important relief to the real estate sector comes in the backdrop of persistent global economic uncertainties and rising construction costs. The decision reflects the Government’s sensitivity to industry concerns and its commitment to sustaining growth and housing supply.” “We would like to share that CREDAI-MCHI had made strong representations to the Government, highlighting the adverse impact of any increase in Ready Reckoner Rates under the current circumstances. We are glad that our suggestions have been duly considered.” “This decision will go a long way in maintaining project viability, supporting housing demand and ensuring continued momentum in development activity,” he added.

‘Gangster Reel’ accused nabbed

Police recover seven guns, 371 cartridges from hidden cache

Dombivli: A 55-year-old builder known for his ‘gangster-style’ reels has once again been arrested after police recovered a massive cache of illegal weapons from his residence. The accused, Surendra Pandurang Chaudhary alias Patil, was taken into custody following a joint operation by the Thane Crime Branch and Manpada Police, who raided his bungalow in Dawdi and uncovered arms hidden in a secret compartment near a shoe rack.

 

In one of the most startling revelations, police discovered that the accused had specially designed a hidden compartment inside a shoe rack to conceal the weapons. The compartment was cleverly built that it could not be easily detected during a routine check. It was only after a detailed and thorough search that the concealed cache was uncovered, leaving even the police surprised.

 

During the raid, officials seized seven revolvers, 371 live cartridges, 167 air gun pellets, along with sharp weapons such as swords, choppers, knives, and sickles. The total value of the seized arms is estimated to be around ₹10 lakh. Among the recovered firearms, five were country-made, while some others had markings like ‘Made in USA’ and ‘Special Auto,’ raising questions about their source.

 

Patil is highly active on social media, with over 303,000 followers on Instagram. He frequently posted reels showcasing a ‘gangster lifestyle,’ often seen holding firearms and displaying bundles of cash. In some videos, he was even seen sitting on a police officer’s chair while creating content. These controversial acts had previously led to his arrest.

 

The accused has a criminal background with serious charges, including rape. He was earlier arrested in October 2023 in connection with a case registered at Manpada Police Station.

 

In 2023, authorities had taken preventive action by externing him from Thane district for a period of one year. Despite this, he recently secured bail in another case but was re-arrested within just two weeks.

 

Police are now investigating the origin of the weapons, possible links to a larger network, and whether the arms were intended merely for social media display or for more serious criminal activities. A case has been registered under the Arms Act and the Maharashtra Police Act, and the accused has been remanded to judicial custody.

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