Circle Rates To Remain Unchanged for Current Fiscal in Maharashtra!

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The minimum rate at which a property can be registered in the state is known as circle rate and also popularly known as Ready Reckoner Rate. Buyers have to pay the stamp duty, registration charges, and other taxes on their property purchases based on the circle rates. This rate varies from state to state. Revenue department of each state determines the circle rate or ready reckoner rate each year as per market movements, which are periodically revised on 1st April of that year.
Due to the outbreak of COVID 19 pandemic, the government had declared complete lockdown in the State of Maharashtra till May 31, 2020. Further orders were given to observe an extended lockdown in the state till June 30, 2020, and in given circumstance the revenue department could not assess the value of the property whereby rates were kept unchanged for the period from April 1 till May 31, till further orders. Maharashtra government on May 26, 2020 vide circular stated the circle rate shall be unchanged for the current financial year 2020-21 as the assessment of the annual statement rate (ASR) could not be carried out.

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