The Ready Reckoner rate is the government's minimum per-square-foot value for a locality. Stamp duty is charged on the higher of the agreement value and the Ready Reckoner value, so you cannot reduce stamp duty by showing a lower price.
What it is
The Ready Reckoner rate, also called the circle rate or RR rate, is published by the state's registration department for each zone, and revised from time to time. It differs for land, residential, commercial and industrial property.
How it affects you
When you register a sale, stamp duty is calculated on the higher of the actual price and the RR value. If you pay less than the RR value, you still pay duty on the RR value.
How to check
Use the state's IGR portal to look up the RR rate for the exact locality, property type and floor. Ask us if you want us to calculate it with you.
Why it matters when you negotiate
If a price is well below the RR value, find out why. Sometimes there is a problem with the title or the condition of the property.
Questions people ask
Does the RR rate change every year?
Does the RR rate decide the market price?
Want this checked for your property?
Send us the project name, location and your budget on WhatsApp. We will tell you what to verify before you pay anything.
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