The ready reckoner rate in Pune denotes the minimum value of residential, commercial or agricultural plot or land, which is assessed and regulated by the Government of Maharashtra. In simple words, it mentions the minimum amount that you pay for a property. Further, the state government imposes stamp duty and registration charges on this rate.
Also referred to as the circle rate, it is one of the most crucial considerations before making a property purchase. Here’s everything you need to know about ready reckoner rate in Pune. Read on!
Ready reckoner land rates in Pune are the minimum price at which the transfer of a property can be done. Typically, the local development authorities or the state government decides this rate by considering several factors.
On the other hand, market rate is the price at which an individual purchases a property. In simple words, it is the final price that a buyer and seller decide on. This rate is decided as per the demand and supply of a location. Thus, an area with high demand and low supply will witness a higher market rate of properties. The market rate is determined based on the basis of the actual transaction prices of a specific location.
Now, even though RRR and market rate seem to be connected, the latter is always more than the former. This gap between the two rates indicates the discrepancy between the government’s perception of a property and the general public’s view of it. Further, a growing difference between the ready reckoner rate and market rate also increases the use of black money in the real estate sector.
The circle rate or ready reckoner rate is not the same for all areas in the city. Here are a few factors that affect the current ready reckoner rate in Pune:
If you are wondering how to calculate ready reckoner rate in Pune, then you can easily find it through the website of The Department of Registration and Stamps Maharashtra. You can access this site in both English and Marathi. Simply follow these steps:
Scroll down to the ‘Online Services’ section. Click on ‘e-ASR’
You will be redirected to a new page where you can see Maharashtra’s map. Click on Pune.
Enter a few details, such as taluka and village name.
Following this, you can view the ready reckoner land rates in Pune.
The below table details the government ready reckoner rates in Pune for a few areas:
|Name of area||Shops (per sq. mt.)Approx (Rs.)||Offices (per sq. mt.)Approx (Rs.)||Apartment/Flat (per sq. mt.)Approx (Rs.)|
|Akrudi||50,000 – 1.32 lakh||45,000 – 72,000||42,000 – 57,400|
|Ambegaon Khurd||50,000- 55,000||47,000 – 51,000||48,000 – 50,000|
|Aundh||1.56 lakh – 11.12 lakh||87,000 – 1.26 lakh||54,000 – 1.04 lakh|
|Balewadi||75,000 – 1.21 lakh||59,000 – 85,000||47,000 – 73,000|
|Baner||81,000 – 1.45 lakh||62,000 – 1.01 lakh||43,000 – 84,000|
|Bhavani Peth||74,000 – 1.81 lakh||55,000 – 1.03 lakh||45,000 – 81,000|
|Bhosari Vibhag||47,000 – 89,000||43,000 – 53,000||41,000 – 52,000|
|Chinchwad||56,000 – 1.62 lakh||50,000 – 72,000||44,000 – 60,000|
|Dhanori||56,000 – 1.19 lakh||47,000 – 86,000||27,000 – 60,000|
|Dudulgaon||51,000 – 53,000||43,000 – Rs, 45,000||41,000 – 45,000|
|Erandwane||1.32 lakh – 3.50 lakh||1.11 lakh – 1.80 lakh||73,000 – 1.40 lakh|
|Ghorpadi||83,500 – 1.77 lakh||56,000 – 1,76 lakh||53,000 – 1.48 lakh|
|Hadpsar||62,000 – 1.37 lakh||53,000 – 85,000||38,000 – 81,000|
|Kalas||45,000 – 78,000||40,000 – 58,000||38,000 – 52,000|
|Kothrud||80,000 – 2.61 lakh||70,000 – 1.53 lakh||68,000 – 1.15 lakh|
|Moshi||44,000 – 72,000||43,000 – 50,000||40,000 – 50,000|
|Sangvi||45,000 – 72,000||43,000 – 63,000||42,000 – 57,000|
|Wadgaon Khurd||56,000 – 1.19 lakh||46,000 – 1 lakh||41,000 – 72,000|
Stamp duty is a tax that the state governments impose during the sale of a property. The amount of stamp duty largely varies on the value of the house or property. Meanwhile, registration charges are an additional tax that you have to pay over and above the stamp duty.
Go through the following tables to get an insight into the current stamp duty and registration charges in Pune:
|Gender||Stamp duty rate|
|Gender||Properties above Rs. 30 lakh||Properties below Rs. 30 lakh|
|Men buyers||Rs. 30,000||1%|
|Women buyers||Rs. 30,000||1%|
|Joint buyers||Rs. 30,000||1%|
Evidently, the ready reckoner rate in Pune is one of the most crucial things that you should consider before purchasing a property. Further, you should also stay updated with possible rate hikes by the government.
Ans: The State Inspectorate General of Registration increased the RRR in Pune on 31st March 2022. As per the new regulations, properties under PMC will witness a 6.12% hike. At the same time, properties under PCMC will witness a 12.36% hike.
Ans: The State Inspectorate General of Registration hiked the ready reckoner rate in rural areas of Pune by 10.15% after considering the prevailing situations. Further, property buyers in these regions will also have to pay a 1% metro cess.
Ans: If you purchase a property located between the 5th and 10th floor of a building, you will have to pay a premium on RRR at 5%. Similarly, the floor rise premium on apartments in Pune for higher floors is:
11th to 20th floor – 10%
21st to 30th floor – 15%
31st floor and above – 20%
Ans: To calculate the value of open parking, you can multiply the area of the parking slot by 40% of the RRR in that area. Meanwhile, for covered parking space, simply multiply the area of the parking slot by 25% of the RRR in that zone.
Ans: The ready reckoner rate varies across different areas of Pune depending upon the market value of properties in that said area and the number of facilities available there. A property situated in a well-developed area will have a higher RRR than one located in lesser developed zones.
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Disclaimer: This article has been prepared on the basis of internal data, publicly available information and other sources believed to be reliable. The information contained in this article is for general purposes only and not a complete disclosure of every material fact. It should not be construed as investment advice to any party. The article does not warrant the completeness or accuracy of the information, and disclaims all liabilities, losses and damages arising out of the use of this information. Readers shall be fully liable/responsible for any decision taken on the basis of this article.
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