Ready reckoner rates blindside industry: Anuj Puri, Chairman - ANAROCK Property Consultants

Increasing the RR rates after reducing the stamp duty comes as a surprise. Bringing down the RR rate at this juncture was something that everybody was looking forward to as it would have given some room to the developers to bring down the prices, said Anuj Puri, Chairman - ANAROCK Property Consultants. In a media comment, the ANAROCK Property Consultants Chairman said, "Today, in most of the micro-market the RR rate is almost equal to the ongoing sales price and buyers as well as sellers both have to pay tax if the sales happen below the RR rate.

This has been the limitation cited by developers preventing them from bringing down prices, and an increase of RR rates further limits the room for them to lower prices," he was quoted in the media communication as having said.

News Bureau/ Mumbai- 9/11/2020 9:27:31 PM