Mumbai, Oct. 5 -- Despite the hike in ready reckoner (RR) rates from April 1 after a gap of three years, the revenue of the cash-strapped Maharashtra government has not been negatively impacted. The state collected Rs.28,072 crore in the H1 of FY 2025-26-higher than the Rs.26,234 crore collected during the same period in the previous financial year. According to data released by the state revenue department, 2.22 million flats, properties, and documents were registered between April 1 and September 30 across state. In comparison, 2.11 million documents were registered during the same period last year. The highest revenue was generated in July 2025, with Rs.5,155 crore collected-8.12% of the total target for the year. The state has set a target of Rs.63,500 crore from stamp duty and registration fees for FY26. This represents the second-largest contributor (8.39%) to the state's total expected tax revenue of Rs.3.88 lakh crore in FY26. "The rise in revenue is owing to natural growth in the sector and also because of the relatively lower increase in flat prices compared to the past," said an official from the revenue department. For FY26, the state government raised RR rates by 3.89%. The increase was 5.95% in urban areas governed by municipal corporations, but only 3.39% in Mumbai-the second-lowest hike after Nanded. Ravindra Binwade, inspector general of registration and controller of stamps, said that the RR rate hike has not impacted property sales. "We will achieve our target set by the government and, in fact, expect to cross it significantly once the guidelines for the Tukada Bandi Law are issued and registration of 50 long-pending small-size plots begins. We are planning digitisation and modernisation of the existing system, which we expect will help increase property registrations. The gap between market prices and RR rates is still large, so the burden of the hike is relatively low." Pankaj Kapoor, founder and managing director of Liases Foras Real Estate Rating and Research Private Limited, said, "The price growth of flats is lower than inflation, besides the discounts and offers provided by builders to consumers. This has improved affordability. Compared to the past five years, the current supply is the highest, which is helping to keep prices in check."...