Ready reckoner rates in Pune: value rate per sq ft
The ready reckoner rate, officially the Annual Statement of Rates (ASR), is the government's reference value for property in each zone of Maharashtra. It is published by the Inspector General of Registration (IGR) and is usually revised at the start of a financial year.
What it is used for
- Stamp duty: duty is charged on the higher of the agreement value and the ready reckoner value.
- Income tax: when a sale is registered below the stamp duty value, tax rules can treat the stamp duty value as the sale price.
- A floor for negotiations: it is not the market price, but it is a useful reference.
How to find the rate for a property
- Open IGR Maharashtra and go to the ready reckoner (e-ASR) section.
- Choose the year, district (Pune), taluka and village or city survey area.
- Find the zone or sub-zone for the property, using the survey or CTS number from your documents.
- Read the rate for the property type (flat, office, shop, open land).
Per sq m to per sq ft
Ready reckoner rates are per square metre. Divide by 10.764 to get the rate per sq ft. Rates for flats apply to built-up area; the guidelines usually take built-up area as carpet area x 1.2. The property value calculator does this for you.
Market rate vs ready reckoner rate
Market prices come from actual deals and can be well above or below the ready reckoner rate. Look at recent registered sales (Index II) in the same society or lane, and see our indicative area price guide.
Questions
What is the ready reckoner rate in Pune?
It is the government reference value per sq m for each zone, published every year by IGR Maharashtra. Look it up on the IGR website for the property's village or survey area.
How do I convert ready reckoner rate to per sq ft?
Divide the rate per sq m by 10.764.
Is stamp duty charged on the ready reckoner rate?
Stamp duty is charged on the higher of the agreement value and the ready reckoner value.