Nagpur outskirts properties sees high price appreciation in RR rates

04 Apr 2022 CW Team

By ready reckoner rates, an investor buying a flat or property in the Nagpur’s outskirts would have gained as much as 20-50% in about two to three years.

The ready reckoner rates are a benchmark for paying stamp duty or property taxes. According to the ready reckoner, even if a property is sold at a lesser price, stamp duty has to be paid. The ready reckoner rates are also used for calculating capital gains tax. The rates are set based on actual transactions, which reflect the market trend.

The rates of constructed property in Kapsi towards Bhandara Road have been fixed at around Rs 3,098 sq ft for 2022-23. In the last FY, it was at Rs 1,990 sq ft, up by over 40%.

In Shankarpur, also towards Wardha Road, the rates were Rs 2,625 per sq ft, which is now at Rs 3,416 an sq ft, up by 49%.

Builders said that the ready reckoner had fixed the rates based on past trends.

Secretary of Confederation of Real Estate Developers’ Association of India (CREDAI), Nagpur, Gaurav Agrarwala, said the rates are based on the past trend. The future trend in prices depends on some other factors.

He added that the rates should not have been increased as it has a cascading effect on the consumers, and the market is still recovering from the Covid-19 pandemic.

The increase in prime areas has been moderate to marginal. No change has been witnessed in the rates for constructed residential property at Variety Square. The rates have been the same at Rs 9,180 per sq ft. For properties near MLA Hostel, the rates are at Rs 8,352 per sq ft, up by 0.5%. In Somalwada, there has been a hike of 2.5% based on the current rates to Rs 8,513 per sq ft. There has been a marginal increase in Chinchbhuvan of Rs 4,590 per sq ft from Rs 4,500 for the constructed property. The rates vary from one place to another in an area.

Image Source

Also read: Nagpur to appoint PWC for monetisation of Smart City tech components

By ready reckoner rates, an investor buying a flat or property in the Nagpur’s outskirts would have gained as much as 20-50% in about two to three years. The ready reckoner rates are a benchmark for paying stamp duty or property taxes. According to the ready reckoner, even if a property is sold at a lesser price, stamp duty has to be paid. The ready reckoner rates are also used for calculating capital gains tax. The rates are set based on actual transactions, which reflect the market trend. The rates of constructed property in Kapsi towards Bhandara Road have been fixed at around Rs 3,098 sq ft for 2022-23. In the last FY, it was at Rs 1,990 sq ft, up by over 40%. In Shankarpur, also towards Wardha Road, the rates were Rs 2,625 per sq ft, which is now at Rs 3,416 an sq ft, up by 49%. Builders said that the ready reckoner had fixed the rates based on past trends. Secretary of Confederation of Real Estate Developers’ Association of India (CREDAI), Nagpur, Gaurav Agrarwala, said the rates are based on the past trend. The future trend in prices depends on some other factors. He added that the rates should not have been increased as it has a cascading effect on the consumers, and the market is still recovering from the Covid-19 pandemic. The increase in prime areas has been moderate to marginal. No change has been witnessed in the rates for constructed residential property at Variety Square. The rates have been the same at Rs 9,180 per sq ft. For properties near MLA Hostel, the rates are at Rs 8,352 per sq ft, up by 0.5%. In Somalwada, there has been a hike of 2.5% based on the current rates to Rs 8,513 per sq ft. There has been a marginal increase in Chinchbhuvan of Rs 4,590 per sq ft from Rs 4,500 for the constructed property. The rates vary from one place to another in an area. Image Source Also read: Nagpur to appoint PWC for monetisation of Smart City tech components

Real Estate

22 Aug 2025

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Real Estate

22 Aug 2025

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Real Estate

22 Aug 2025

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Nagpur outskirts properties sees high price appreciation in RR rates

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

HMDA to Auction 93 Prime Plots in September

Latest Updates

Recommended for you

Advertisement

Subscribe to Our Newsletter

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Modal Heading

First Name *

Last Name *

Industry *

Email Address *

Mobile Number *

Password *

Confirm Password *

Subscribe to our Newsletter

Email Address *

Password *

Please enter the details

Email Address

15th RAHSTA EXPO 2025

Modal Heading

First Name *

Last Name *

Industry *

Email Address *

Mobile Number *

Password *

Confirm Password *

Subscribe to our Newsletter

Email Address *

Password *

Please enter the details

Email Address