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Property registrations in Maharashtra, including Pune, remained steady in Q1 FY26 (April-June 2025), despite a 3.9% ready reckoner (RR) rate hike on April 1. The state registered 11.33 lakh properties, a 4.51% increase year-on-year, generating INR 12,783.77 crore in revenue, up 2.3%. This indicates the market absorbed the hike without disruption. High-value transactions in urban centers supported revenue. The state revenue minister set a target of INR 60,000 crore for the department this financial year, building on last year's INR 55,000 crore collections.
Property registrations in Maharashtra have recently remained consistent. During the first quarter of the current financial year, across the state, particularly in Pune, transactions held steady despite an increase in ready reckoner (RR) rates. This shows that the market absorbed the impact without significant disruption. Advertisement
In the first quarter of the current financial year (April-June 2025), Maharashtra registered 11.33 lakh properties. These registrations generated INR 12,783.77 crore in revenue. This performance compares favorably to the same period last year, when 10.84 lakh properties were registered, collecting INR 12,502.81 crore. Property registrations increased by 4.51% overall, while revenue growth was a more modest 2.3%. The ready reckoner (RR) rate hike, which averaged 3.9% across various categories and locations, came into effect on April 1.
Despite initial concerns among developers and homebuyers about a potential drop in demand, the market maintained transaction volumes without significant disruption. Officials and market analysts view this as a positive signal for the sector and the state treasury. It reflects confidence in the market and steady demand.
High-value transactions, especially in urban centers like Mumbai, Pune, and Thane, were important in supporting revenue collections. The state revenue minister has set a target of INR 60,000 crore for the department this financial year, building on last year's INR 55,000 crore collections, which were driven by property markets.
Real estate experts attribute the steady transaction volumes to pent-up demand, expectations of further price increases, and upcoming festive season launches. Some homebuyers reportedly rushed to close deals before prices increased further, and developers offered incentives to absorb part of the cost burden. Ready reckoner rates are minimum values for property transactions, impacting stamp duty and registration charges.
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