nagpur going by the ready reckoner rates an investor buying a flat or a property in the citys outskirts would have gained as much as 20 to 50 in two to three years or so the appreciation has however been moderate in prime areasa random look at the yearly revision of ready reckoner of properties by the state government shows a hefty increase in the rates for areas in the outskirts which come under the nagpur metropolitan region development authority the areas under nmdra are outside the limit of nagpur municipal corporation nmcready reckoner rates are a benchmark for paying stamp duty or property tax even if a certain property is sold at a lesser price the duty has to be paid according to the ready reckoner which is the basic minimum rate the ready reckoner is also used for calculating capital gains tax since the rates are set on the basis of actual transactions it also gives a reflection of the market trend the market rates can also be expected to be higher than ready reckonerfor example rates of constructed property in pockets of kapsi towards bhandara road have been fixed at around rs 3098 a square feet for the year 202223 for the last fiscal it was at rs 1990 a square feet which is a hike of over 40 in jamtha the rates of constructed property have been hiked to rs 3621 a square foot as against rs 2940 which is an increase of 23in shankarpur also towards wardha road the earlier rates were at rs 2625 a square foot which is now at rs 3416 a square foot a straight hike of 49builders on the other hand say the ready reckoner has fixed the rates on the basis of past trends rather there is a fall in demand at present which has reduced the transactionsgaurav agrarwala secretary of confederation of real estate developers association of india credai nagpur unit said the rates are on the basis of the past trend this future trend in prices depends on a number of other factorshe said the rates should not have been increased as it has a cascading effect on the consumers and the market has just emerged out of the pandemicthe increase in prime areas has been moderate to marginal for example there has been no change in the rates for constructed residential property at variety square the rates have been kept the same at rs 9180 a square foot for properties near mla hostel the current rates are at rs 8352 a square foot which is an increase of 05 in somalwada there has been a hike of 25 taking the current rates to rs 8513 a square foot in chinchbhuvan area too there has been a marginal increase of rs 4590 a square foot from rs 4500 for constructed property the rates vary from street to street in a given area toi has used random figures to ascertain the trendanil nair of ms pioneer constructions said