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Business EconomyPosted at: Mar 23 2024 5:57PM


Credai M'rashtra demands not to increase ready-reckoner rate

Pune, Mar 23 (UNI) At a time when the construction sector is recovering somewhat from one crisis after another such as economic recession, demonetisation, corona pandemic, the ready-reckoner rate should not be increased this year to speed up this sector, demanded Pramod Khairnar-Patil, president of CREDAI Maharashtra, here on Saturday.
In a press statement, he said that every financial year from April one, the state government revises the ready-reckoner rate as per the market value rate table (recalculator) by about 8 to 10 per cent.
Before implementation of the code of conduct for the Lok Sabha elections this year, the state Cabinet did not take any decision to keep the new rate of annual current market value (recalculator), with clear indications that this rate may increase this year, Khairnar-Patil said.
The house prices will rise if government increases ready-reckoner rate, therefore, the state government should announce the new rate after every three years only, he added.
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