Pune: The State Registration and Stamp Duty Department has revised the Ready Reckoner rates for the 2024-25 financial year, with a higher increase in Pimpri-Chinchwad (6.69%) than in Pune (4.16%). The new rates are effective from April 1.
Why Have Rates Increased?
The COVID-19 pandemic caused a delayed revision in September 2020 instead of April 2020, and no increase was made in 2021-22. The rates were revised in 2022-23, but remained unchanged in the following year due to upcoming elections. However, for 2024-25, a revision was anticipated.
With a 4.16% increase, Pune will witness a rise in property prices, especially in high-demand areas such as:
Koregaon Park
Prabhat Road
Bhandarkar Road
Law College Road
Boat Club Road
Jangli Maharaj Road
Karve Road
Fergusson College Road
Pimpri-Chinchwad Sees Faster Growth
The Pimpri-Chinchwad Municipal Corporation (PCMC) area has witnessed rapid growth, leading to a higher 6.69% rise in Ready Reckoner rates. The expansion of industrial and IT sectors has driven higher demand for housing, impacting property prices.
As a result, land and property prices in Pimpri-Chinchwad are set to rise more than in Pune.