Maharashtra's Stable Ready Reckoner Rates Boost Real Estate Confidence

Real estate developers in Maharashtra's Thane region have expressed approval for the state government's decision to keep ready reckoner rates unchanged. This move is perceived as a stabilizing factor for the real estate sector, especially amidst global economic uncertainties.

The Thane chapter of the Confederation of Real Estate Developers' Associations of India (CREDAI) released a statement on Thursday praising the decision. The unchanged rates are expected to boost confidence among homebuyers and investors, despite the current volatile global economic landscape.

According to Sachin Mirani, President of the Thane CREDAI, maintaining stable ready reckoner rates allows developers to plan and price their projects more effectively. The state government avoided a proposed 12 to 14 percent increase due to the ongoing West Asia crisis and related global conditions, as announced by Revenue Minister Chandrashekhar Bawankule.