For a rational price discovery of land parcels located across Maharashtra with potential for commercial development, the state government is using satellite imagery to identify such zones around villages, which can be treated as "potential non-agriculture lands." Any commercial transactions like purchase and sale of this land will be charged stamp duty at higher ready reckoner (RR) rates to capture the value of its development potential. This led to the potential of commercial development of these plots and land located close to the highways being reflected in the RR rates. The satellite mapping exercise will make the process more scientific, prevent this land with development potential being declared as agriculture land in commercial transactions and help the state generate additional revenue through higher RR rates. The state has been divided into four regions for compiling RR rates: rural, influential (peri-urban areas peripheral to urban areas), municipal council and municipal corporation areas.

Source: dna September 07, 2016 01:41 UTC