RR rate set to go up by 10-20 percent

Developers cry foul, say govt move will have negative impact on the already bleeding realty sector.

It’s bad news for people planning to buy a house in the city after April 1. For, the government has planned to increase the current ready reckoner (RR) rate by 10-20%. This would help the goverment generate an additional revenue of Rs. 7,000 crore compared to the last year.