The move has surprised many as the government cut down the stamp duty charges by 2-3% percentage points last month. Increasing the RR rates after reducing the stamp duty in most areas of Maharashtra comes as a big surprise, to say the least. The circle rates are determined by state governments and are revised from time to time as per the changing market conditions. The circle rates differ within cities in the same state, and among various localities of a city. “Home Buying in Maharashtra is going to suffer as there are plenty of places where circle rates are higher than market rates," said Garodia.

Source: Mint September 15, 2020 04:57 UTC