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By:

Bhalchandra Chorghade

11 August 2025 at 1:54:18 pm

Micro-Zoning, RR proposal: A reform opportunity

Mumbai: The government’s proposed introduction of micro-zoning and differentiated Ready Reckoner (RR) rates marks a significant shift in the way property valuations are determined across the state. The initiative, which seeks to assign distinct RR rates to high-rise buildings, slums, chawls and redeveloped properties within the same locality, has largely been welcomed by the real estate sector. Industry stakeholders, however, caution that the reform’s effectiveness will depend less on its...

Micro-Zoning, RR proposal: A reform opportunity

Mumbai: The government’s proposed introduction of micro-zoning and differentiated Ready Reckoner (RR) rates marks a significant shift in the way property valuations are determined across the state. The initiative, which seeks to assign distinct RR rates to high-rise buildings, slums, chawls and redeveloped properties within the same locality, has largely been welcomed by the real estate sector. Industry stakeholders, however, caution that the reform’s effectiveness will depend less on its intent and more on the framework governing its implementation. The proposal comes at a time when property markets in major urban centres, particularly Mumbai Metropolitan Region (MMR), are witnessing increasingly diverse development patterns within the same neighbourhoods. Experts argue that uniform RR rates often fail to capture the substantial variations in infrastructure quality, redevelopment status, accessibility and market demand that exist even within small geographical pockets. Real estate professionals believe that a micro-zoning approach could help bridge the gap between official property valuations and actual market realities. More accurate valuation mechanisms can improve transparency in transactions, provide a fairer basis for stamp duty calculations and create a more nuanced framework for urban planning. Experts’ Comments Kamlesh Thakur, President, NAREDCO Maharashtra and Co-Founder & Managing Director, Srishti Group, believes the concept has merit but warns that the execution framework will determine whether the reform succeeds or creates fresh challenges. “The concept of micro-zoning and differentiated Ready Reckoner rates has the potential to make property valuation more reflective of local market realities and development potential. However, its success will depend entirely on the framework adopted for implementation. Unless there is a clear, transparent and objective policy with well-defined parameters, the introduction of micro-zoning could lead to increased discretion at the administrative level, resulting in uncertainty and inconsistent outcomes,” he said. According to Thakur, valuation systems that allow excessive room for subjective interpretation can generate disputes, create inconsistencies in assessments and undermine business confidence. His concerns reflect a broader industry apprehension that redevelopment projects—already burdened by lengthy approval processes and rising costs—could face additional uncertainty if valuation criteria vary across administrative jurisdictions. Kaushal Agarwal, Chairman, The Guardians Real Estate Advisory, views the proposal as a logical evolution of property valuation practices, particularly in rapidly transforming urban markets. “The move towards differentiated Ready Reckoner rates through micro-zoning is a progressive step, as property values can vary significantly within the same locality depending on factors such as infrastructure, accessibility, building quality and surrounding development. If implemented effectively, it has the potential to make property valuations more realistic and aligned with actual market dynamics,” he said. Transparency, Methodology At the same time, Agarwal emphasized that transparency and data quality will be critical to ensuring credibility. “However, the success of this initiative will depend on the transparency of the methodology, the quality of data used, and the consistency of its application across micro-markets. Buyers, investors, and developers value clarity and predictability in valuation mechanisms. A well-defined and publicly accessible framework will be essential to avoid ambiguity, strengthen market confidence, and ensure that the new system delivers greater accuracy without creating uncertainty in transaction pricing or investment decisions,” he noted. Uniformly Implemented Echoing similar concerns, Dhruman Shah, Promoter, Ariha Group, said the government must ensure that the system remains easy to understand and uniformly implemented. “The move towards micro-zoning reflects an effort to modernize property valuation and make it more representative of actual market conditions. However, it is important that the system remains simple, transparent and uniformly enforced across regions. If multiple layers of interpretation emerge during implementation, it could lead to disputes and delays, particularly for redevelopment projects that already involve complex approval processes. Industry consultation at every stage will help create a practical and effective framework,” Shah said. As the state explores one of the most significant changes to its property valuation mechanism in recent years, the industry appears broadly supportive of the objective. Yet the consensus remains clear: the success of micro-zoning will depend on transparency, consistency and stakeholder consultation. Without these safeguards, a reform intended to improve valuation accuracy could inadvertently introduce new layers of uncertainty into an already complex real estate ecosystem.

When War Becomes a Script

As Donald Trump’s strikes on Iran push the Middle East towards an ever- widening conflagration, more than a few have noted that the timing coincided with renewed scrutiny over the Epstein files.


In this context, the razor-edged 1997 Hollywood satire ‘Wag the Dog’ - about a President’s advisers who fabricate a war with Albania to distract the public’s attention from a sexual scandal damaging to the administration - feels less fiction than documentary.


Nearly three decades later, this black comedy, directed by Barry Levinson and starring Dustin Hoffman and Robert de Niro, eerily seems to hold up a mirror to contemporary politics. Its premise of a foreign crisis eclipsing a domestic scandal feels uncannily familiar at the moment.


The brilliance of ‘Wag the Dog’ lies not merely in its satire but in its clinical understanding of modern political theatre. De Niro plays Conrad Brean, a monk-like spin doctor summoned to contain the scandal. His breathtakingly simple solution is to give the nation something ‘larger’ to worry about.


Enter Hoffman’s Stanley Motss, a flamboyant Hollywood producer who treats geopolitics like a studio production. A consummate artist, Motss’ fervent belief is that if a war is needed, it must be staged convincingly – replete with grainy footage, patriotic music and an emotional storyline involving an Albanian refugee clutching a kitten.


A striking line from the film - “of course there’s a war… I’m watching it on television” - captures the film’s central thesis that in the media age, wars do not merely ‘happen’ but are narrated and marketed.


The film, adapted from Larry Beinhart’s 1993 novel ‘American Hero,’ was originally conceived as a satire on the political spectacle surrounding the first Gulf War. But fate endowed it with an even sharper edge. Only months after the film’s release, President Bill Clinton found himself engulfed in the Clinton–Lewinsky scandal. When the United States launched missile strikes in Sudan and Afghanistan in 1998, critics immediately invoked the film’s title as shorthand for diversionary war.


Such coincidences have ensured that ‘Wag the Dog’ has aged less like satire and more like a diagnostic manual for diversion. Its humour derives from the unsettling plausibility of its premise. Scarier is the fact that the de Niro and Hoffman characters, rather than rely on grand conspiracies, manufacture their ‘war’ through familiar institutions of public relations and television networks while cannily playing on the nation’s patriotic reflexes.


The film belongs to a distinguished tradition of political cinema that explores how power manufactures consent. Stanley Kubrick’s 1964 Cold War masterpiece ‘Dr. Strangelove’ revealed the absurd logic that could lead the world to nuclear annihilation. Later works such as Warren Beatty’s biting ‘Bulworth’ (1998) and ‘Charlie Wilson’s War’ (2007) explored the uneasy relationship between spectacle, ideology and foreign policy, leavened with dollops of smart black humour.


But ‘Wag the Dog’ remains unique in its focus on the fusion of politics and entertainment. In Levinson’s film, it is Washington that behaves like Hollywood and vice versa. Motss fusses over lighting and narrative arcs while producing footage of a fictional war zone, treating geopolitics as merely another blockbuster awaiting release.


The film itself nods toward earlier episodes of American military spectacle. At one point, the characters cite the 1983 invasion of Grenada as an example of how quickly patriotic fervour can be mobilised and how murky the motives behind foreign interventions sometimes appear.


Watching ‘Wag the Dog’ today, one is struck by its prescience in anticipating the mechanics of modern media ecosystems. In 1997, the internet was barely a political force and cable news still dominated the narrative cycle. Yet the film anticipated a world in which spectacle outruns scrutiny, where a compelling ‘story’ can eclipse inconvenient truths.


That is why its resonance amid today’s geopolitical turbulence is all the more striking.


The film’s final irony is also its most striking as it reveals the limits of manipulation itself. The Dustin Hoffman character, having successfully manufactured the war, grows intoxicated with his own creative genius and demands recognition. He is then quietly eliminated in an unsubtle reminder that in politics, the most effective stage managers are never allowed to take a bow.


Nearly thirty years on, ‘Wag the Dog’ still provokes uneasy laughter. Its troubling message is that when politics becomes performance, war risks becoming just another plot device. And in the age of perpetual spectacle, the question is no longer whether the dog wags its tail but whether the tail has begun to wag the dog. 


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