The guidance value of a property in India, also known as the circle rate or ready reckoner rate, is the minimum value set by the government for property transactions. This value is used to calculate stamp duty and registration charges during property registration. Now that you know what is guidance value of property, let us focus on the factors that affect this value,
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Location: Urban areas typically have higher guidance values compared to rural areas.
Amenities: Proximity to facilities like schools, hospitals, and transportation can increase the guidance value.
Infrastructure: Well-developed infrastructure in the area can lead to higher guidance values.
Type of Property: Residential, commercial, and agricultural properties have different guidance values.
I hope this helps you understand what is property guidance value. State governments periodically revise these values to reflect current market conditions and curb black money circulation in real estate.
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Guidance value is a price below which any residential property cannot be registered with the land revenue authority of the state. Terms including Ready Reckoner Rate, Circle Rate, or Guidance Value are used interchangeably in the real estate market in different states.
The guidance value is determined by each state separately based on the market price, real estate market conditions, property demand and supply, etc. The guidance value affects stamp duty and registration fee applicable on the property.
You can check the guidance value with the sub-registrar of your area or check the land revenue website of your state to check the latest information on guidance value.
What is Guidance Value of Property?
Sumukh
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2021-03-10T14:46:48+00:00 2025-02-13T18:55:09+00:00Comment
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