Guide · Stamp duty and registration

Circle rate and guidance value: what the official texts say

What circle rate, guidance value, fair value, collector rate and ready reckoner mean in the states Payotte could read, and how they change the stamp duty base.

Checked on against the official sources at the bottom of the page.

In short

A circle rate (the term varies by state: guidance value, fair value, collector rate, ready reckoner, guideline land rate) is the minimum value per area or plot that the state uses to charge stamp duty and registration fee. Where the sheets Payotte read say so, the charge is on the higher of the price in your deed and the reference value. The name, the way it is fixed and the lookup page differ in every state; there is no central list. This guide gives only what the official texts read say.

What the reference value does

When you register a sale, the stamp duty and the registration fee are percentages of a base. The sheets read name that base in these words:

  • Kerala: “the fair value or value of consideration whichever is higher”.
  • Chandigarh: “on value or amount of consideration (whichever is higher)”, with the collector rate as the reference.
  • Puducherry: “the sale value of the property or the G.L.R. value whichever is higher”.
  • Maharashtra: “the true market value of the property”, determined with an “annual statement of rates” under the Bombay Stamp (Determination of True Market Value of Property) Rules, 1995.

The practical effect is that a price below the reference value does not reduce the duty. A price above it raises the duty. In Rajasthan the sheet charges “market value” and its own columns do not name the rate list, which was not read.

What each state calls it

State or UTName seen in an official textWhat the text says
Maharashtra”annual statement of rates” (ready reckoner)Published under the 1995 Rules; defines “true market value” for Article 25
Kerala”fair value”The sheet charges the higher of fair value and consideration; the home page lists a “Fair value of land” service on igr.kerala.gov.in
Puducherry”G.L.R.” (guideline land rate)“should truly reflect the market value”; fixed every year by the Deputy Collector (Revenue)
Chandigarh”collector rate”A “minimum collector rate for charging stamp duty on the sale deed/lease right of transfer deed/gift deed”
Uttarakhand”circle rates”Mentioned in the department’s sheet; the notification list refers to a rebate “chargeable on amount exceeding circle rate”
Uttar Pradesh”मूल्यांकन सूची” (valuation list)A list searched by district and then sub-registrar office
Jammu and Kashmir”market value guidelines”Rates notified district by district under the 2011 rules
Rajasthan”market value”The sheet’s base; the rate list behind it was not read

For Delhi, Karnataka, Tamil Nadu, Telangana, West Bengal, Gujarat, Haryana and the other states, the official portals could not be read from outside India, so no term is asserted. Look on the state’s registration portal for the schedule or lookup page.

How it is fixed, where the text says

  • Puducherry: values “are fixed every year by the concerned Deputy Collector (Revenue)” of the Department of Revenue and Disaster Management; the FAQ links to a GLR lookup page, nilamagal.py.gov.in/glr, and says that sub-registrar counters also answer queries on duty.
  • Jammu district (calendar year 2026): the district order cites the J&K Preparation and Revision of Market Value Guidelines Rules, 2011, and the approval of the Divisional Valuation Board, and notifies the rates of the immovable property of Jammu District for the calendar year 2026. The order is a scanned image that Payotte read only in part; other districts have their own orders.
  • Uttarakhand: the sheet’s note says circle rates “are not applicable” to transfers by a list of state bodies, such as development and industrial authorities, whose own determined price is used; the sheet’s wording on this point is partly garbled.
  • Maharashtra: the annual statement is published under the 1995 Rules; the Act’s text also uses the “Influence Areas as per the annual statement of rates” to set the 5% zone in Article 25(b)(ii).
  • Chandigarh: the Collector’s Rates Schedule is a separate PDF (855 KB) from the rate sheet; its file name suggests 2017 and it was not read.
  • Kerala: the fair value service is on a separate site that was not read.

For states not listed, how the reference value is fixed, how often it is revised and whether you can contest it are matters for the registration department. Payotte read no official text on a procedure to contest a reference value, so none is described.

Worked examples

These are calculations from published rates, not quotes.

Kerala. Price ₹50,00,000 and fair value ₹60,00,000: the base is ₹60,00,000. Stamp duty at 8% is ₹4,80,000 and registration at 2% is ₹1,20,000, a total of ₹6,00,000. If the price were ₹80,00,000 and the fair value ₹70,00,000, the base would be ₹80,00,000 and the total ₹8,00,000.

Puducherry. Price ₹50,00,000 and GLR ₹60,00,000: base ₹60,00,000, stamp duty 10% = ₹6,00,000, registration 1.5% = ₹90,000, total ₹6,90,000. Had you declared ₹50,00,000, the duty would still be on ₹60,00,000.

Chandigarh. The sheet charges the higher of value and consideration; with a collector-rate value of ₹1,00,00,000 the duty is ₹5,00,000 and the fee capped at ₹10,000. The collector rate itself was not read.

Try your own figures in the stamp duty calculator, which asks you for the reference value because Payotte does not hold the rate lists.

Why it matters to non-residents

If you buy from abroad, the reference value is the number that sets the stamp duty and registration cost, and you can ask for it before you commit. Central tax rules are separate and apply everywhere; see TDS on property purchase and NRI buying property in India. Declaring a price below the reference value does not lower the duty in the states read: they charge the higher of the two.

Checking your value

  1. Find the department’s lookup page or schedule for your state and your locality (district, sub-registrar office, survey number or zone).
  2. Note the date of the schedule: several are revised yearly, and Puducherry’s FAQ says values are fixed every year.
  3. Ask the sub-registrar for the value they will apply to your deed, in writing if possible.
  4. If your price is below it, expect the duty on the reference value.

Which professional to consult

A registered valuer can give an independent value of the property. A property lawyer (advocate) enrolled with the State Bar Council can say which reference value the registering office will apply and whether any remedy exists in your state.

Frequently asked questions

Are circle rate and guidance value the same thing?

They do the same job, a state-set minimum value for charging duty, under different names. Each state’s own text defines its term.

Do I pay duty on the price or the circle rate?

On the higher of the two, in the states where the sheets read say so: Kerala, Chandigarh and Puducherry. Maharashtra’s Act uses market value.

Where do I find the rate for my area?

On the registration department’s portal for your state. Payotte holds no rate lists.

Is there a national circle rate list?

Payotte found no official national list. Each state publishes its own.

Does the circle rate change?

In Puducherry the FAQ says values are fixed every year. In Jammu, the district order covers calendar year 2026. Other states revise on their own schedule.

More guides on stamp duty and registration

Sources

All guides · Payotte India