With land and flat rates considered separately for valuation, residential apartment in Koregaon Park area costs Rs 1,72,580 per square meter. On the other hand, land rates in the Prabhat Road area are set at Rs80,280 per square meter.
The lowest land rates under the new RR structure are in Undri gaothan at Rs4,500 per square meter, while residential apartments in Dhanori gaothan at Rs26,890 per square meter are the cheapest in the urban area , a city planning department official said.
In the Pimpri Chinchwad Municipal Corporation (PCMC) areas which saw the highest increase in RR rate, Akurdi District Center had the highest land rate of Rs62,420 per square meter and Vadimukh Wadi gaothan recorded the lowest rate at Rs3,650 per square. metre.
“In some areas, the ratio of land to apartment rate was huge. This needed to be corrected,” said Prabhakar Nale, deputy director of planning and valuation in the Pune division. His team has been working over the past year to prepare a He added that a major price correction was needed in the PCMC areas and the rise was mainly in land rates which were low in most areas.
The last time the RR rates were changed was in September 2020. This year, the RR rates in the Old Town areas increased by an average of 6.12%. In large areas, including merged villages, the average increase in RR rate was 10.15%. In the PCMC zones, the increase was the highest and reached 12.36%.