The Real Estate Developers’ Association of India (CREDAI) Nasik chapter has appealed to the Government of Maharashtra not to increase the ready reckoner prices in a letter addressed by it jointly with local MLAs. The government collects stamp duty on the basis of the ready reckoner rates. The rates are amended every month and will come into force from April 1.
As Covid has affected the realty sector for the past two years, the CREDAI has placed the request with the government. Besides, the prices of steel and cement went up unprecedentedly. If the ready reckoner rates are also increased, it will push up the prices of properties and will impact the realty sector ultimately, according to CREDAI Nasik president Ravi Mahajan. In Nasik, 45,000 flats in about 1000 projects are under various phases of construction. Another 1500 projects are ready for launching, according to senior architect Neelesh Chavan. As many have been trying to acquire property for the past several days, increasing the RR rates at this juncture will affect them, he opined.
