What is the meaning circle value for sale property .
Circle value is government value. Each municipal or registration office has fixed area wise rates, these values are called circle value.
When you sale or purchase any property you have to pay registration fee on a minimum value regardless of sale or purchase price, this minimum value is circle value of land.
For example, you bought a property for Rs. 10 lakhs but circle value is Rs. 15 lakhs then you have to pay stamp duty on 15 lakhs.
Sign up to discuss taxation, accounting and finance topics with experts from all over India.
Not a member? Register
Sign in with google