THE current turmoil in the financial markets worldover due to prevailing crisis inWest Asia seems to have forced Maharashtra Government to hold the annual upward revision in the Ready Reckoner rates, with State opting for stability to spur the growth. Given the current trend of high value transactions in the realty market, a correction in the RR was on cards. However, State took a broad view that any spike in rate could impact the realty market and decided to maintain status quo for the next financial year, i.e. 2026-27, said a release issued by office of Maharashtra’s Revenue Minister. The office of Inspector General of Registration and Controller of Stamps issued the notification stating that there is no proposal for hiking RR rates. The notification is most awaited one and is issued at end of the financial year post exhaustive consultation with various stakeholders earlier in the year. The political leadership deliberated on the issue and Revenue Minister Chandrashekhar Bawankule directed officials to hold the rates for the next year. The current turmoil in the markets against the backdrop of raging war inWest Asia is causing widespread disturbances, leaving the policy makers in a tizzy. Therefore, to avoid any adverse impact due to hike in RR rates, the Government decided to hold tight for a year, as already last year the hike was quite substantial, said realty market experts. After maintaining the rates for two years, last year the IGR went for a hike of 5.95 per cent onaverageinCorporationarea, for Mumbai area it was limited to 3.39 per cent. In MunicipalCounciljurisdiction, the increase was of 4.97 per cent and in rural areas it was 3.36 per cent. The decision of State not to go for hike in ready reckoner rates is going to provide stability to the reality market. Especially for the home-buyers and those desirous of investinginlanddeals, the status quo in RR rates would soundprettygoodanditwould not entail any additional expenditure towardspayment of stamp duty on property deals. The estimate of State is that no hike in RR would provide fillip to the construction industry and also provide respite to builders whoin near future might have to absorb impact ofrise in prices of steel and cement in case the war prolongs further. In past during 2017-18, the RRrateswereincreasedby5.86 per cent on an average, it was quite a steep hike. Thereafter during COVID-19 outbreak, during 2020-21 the State went for aminimumhikeofjust 1.74 per cent. Again in 2022-23 the readyreckonerrateswitnessed upward movement, it rose by 4.81 per cent, and State thereafter froze therates fornext two years. State’s coffers swell ANOTHER reason on part of State in holding the rise for next year in RR rates is that during the current year the exchequer netted Rs 60,000 crore on the realty market deals, which is a good growth. Till March 30, the IGR and Controller of Stamps reported revenue of Rs 30,568.94 crore and maximum gain was from I-Sarita through which a sum ofRs 49,534crorewas realised. Reforms IGR & Controller of Stamps during the year concentrated on carrying outreforms in the technical process, instead of focussing on raising the RR rates. For example, the Development Plan implementation is being done systematically,registrationofnew survey numbers in the record, correction in the names of villages. This the IGR believes would ensure brisk registration of new properties that wouldlead toincreaseinannual revenue. Revenue distribution THEState,during thelast three years, has seen robust growth in revenue from property registration, starting with 2023- 24 where it netted Rs 50,000 crores,whichrose toRs 55,000 crore in year 2024-25 and to Rs 63,500crorein 2025-26.The distribution of revenue realised under various heads is Rs 49,534.25 crore from ISarita platform, Rs 4,429.70 crore through Adjudication, Rs 1238.26 crores from EFiling, Rs 316.69 crore from On-line Leave & License and from Other Heads Rs 5,050.05 crore.