CREDAI to talk to decision makers against Ready Reckoner hike

Maharashtra state is preparing to increase the Ready Reckoner rates from 1st April onwards. Since last decade every year RR rates have been increased by 10% to 25% resulting in more than 300% increase in some areas. Hence, in public interest CREDAI members would initiate series of meetings with MLA’ and MP’s and explain the complete situation. Also, a meeting with Chief Minister and IGR would be done requesting to look into their grievances, informed Shantilal Kataria, President CREDAI Maharashtra in a press note. Increase in Ready Reckoner rates is proposed at the time when the real estate sector is facing slow-down from last 5 years. Last year the state Govt. had increased the ready reckoner rates inspite of destabilized economy owing to demonetization.  In 2009, the then state govt had reconsidered the roll back of the ready reckoner hike due to slow down in the realty sector. Similar stand needs to be taken now as well, Kataria added.