Also called: Ready reckoner rate, Collector rate, DLC rate, Stamp duty value
The minimum value per square metre or square foot that a state sets for property in each area, used to charge stamp duty. Delhi, Uttar Pradesh and Haryana call it the circle or collector rate; Maharashtra the ready reckoner rate; Rajasthan the DLC rate.
How it works and what to check
States revise these rates from time to time, by locality and property type. Stamp duty is charged on the higher of the circle-rate value and the price in the deed.
If a property is sold below the circle-rate value by more than a small tolerance, income tax rules can treat the difference as extra sale price for the seller and as income for the buyer. Check with a tax adviser before registering below it.