Guide to Circle Rates in Karnataka

Karnataka has seen a surge in the demand for real estate due to Bangalore becoming the hub of the IT industry. Let’s understand the ready reckoner or circle rates in Karnataka. 

Introduction to Ready Reckoner Rates 

Ready reckoner rates (also called circle rates) are the lowest prices for land or buildings set by the government in a certain area. In Karnataka the government decides these rates and properties cannot be bought or sold for less than these amounts.

These rates are usually lower than what people might actually pay when buying or selling a property. To find out the value of a property using these rates, you multiply the size of the property by the rate set for that area. 

Difference between Market Rates and Circle Rates in Karnataka  

We have already discussed the difference between the market rates and the circle rates above but we will now closely look at the other points that mark the difference between these two:

Market Rates	Circle Rates / Ready Reckoner Rate
Prices at which properties are actually bought and sold in the open market.	Minimum property values set by the government for a specific area or region.
Market rates are influenced by location, demand, amenities and real estate trends. because they depend upon the conditions of the market.	Circle Rates are set by the government and typically reviewed periodically.
Market Rates are influenced by the demand and supply ratio	Ready Reckoner Rates are not influenced by the demand and supply ratio
Reflects the real-time value of a property.	The stamp duty and registration fees  are based on the circle rates

What are the factors affecting the Circle Rates in Karnataka?

There are some things that help the government of Karnataka decide the circle rates (or base prices) for properties. These include:

1. Type of Property: Different types of properties have different rates. For example places used for businesses like shops or offices usually have higher rates than homes.
2. Location of the Property: Where the property is matters a lot! If the property is in a busy city or a nice area then the rate will be higher. If it’s in a small town or village then the rate will be lower.
3. Market Value: While circle rates and market prices aren’t exactly the same, the government still looks at the market value to help decide the circle rates.
4. Utilities Available: If a property has lots of services like water, electricity or good roads, its rate will be higher. If it doesn’t have these things, the rate will be lower.
5. Use of the Property: Properties used for businesses, like shops or restaurants, usually have higher rates than properties used for homes.
6. Age of the Property: Older buildings usually have lower rates than new ones.

Importance of Circle Rates

Now that we know what circle rates (also called ready reckoner rates) are, let’s see why they are important:

1. Helps Find Property Value:

Circle rates are set by the state government to help figure out a basic price for properties. They look at many things to decide these rates.

2. Helps the Government Make Money:

The government uses circle rates to calculate something called “stamp duty,” which is a fee paid when someone buys or sells property. This fee helps the government earn money.

3. Gives an Idea of Property Prices:

Circle rates help people who are buying or selling property know how much it might be worth. Even though these rates are usually lower than the real market prices they still give a helpful estimate.

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Guidance Value in Karnataka 

The guidance value/reckoner rate/circle rates in Karnataka are decided by the state government after considering all the factors discussed above. The most important factor that decides the guidance value is the growth potential of the area. If any person wants to check the applicable reckoner rate for their property on the official website.  

How to Find Ready Reckoner Rates in Karnataka?

If you want to find the ready reckoner rates in Karnataka here’s what you need to do:

1. Go to the Website:

Go to the official website called the Kaveri Portal.

2. Choose the Right Option:

Look for an option that says “Know Your Property Valuation.” Click on it. This will take you to a new page.

3. Enter Property Details:

On the new page you need to type in details about the property, like what kind of property it is, how big it is and what it is used for.

4. See the Results:

After you put in all the details, click on “Property Valuation” at the bottom of the page. The rates for the property will show up on the screen!

How to Calculate Ready Reckoner Rates in Karnataka?

To find the ready reckoner rates in Karnataka follow these steps:

1. Visit Kaveri Portal:

Visit official website of the Department of Stamps and Registration known as the Kaveri Portal.

2. Choose the Correct Option:

Look for the “Know Your Property Valuation” option on the website and click on it.

3. Select the Search Type:

You will see two choices: “Basic Search” and “Advanced Search.” Click on “Basic Search.”

4. Enter Property Details:

Next fill in the details about the property such as the type of property, its usage, area and measurements.

5. View the Results:

Once you’ve entered all the information click on the “Property Valuation” button at the bottom of the page. The ready reckoner rates for the property will be displayed on the screen.

The “Basic Search” will show general information and the reckoner rates for the area. The “Advanced Search” provides more detailed options like the Registry, District, and SRO Office.

Circle Rates in Other Cities

Mysore 

Area	Rate Per Sq. Ft.
Aleem Nagar	Rs. 750
Paramount Celestia	Rs. 33,200
RMV Elegance	Rs. 36,000
Girijana Colony	Rs. 800
Ananda Extensions	Rs. 1,010
Garike Mala	Rs. 18,000
Yelehundi Kavalu	Rs. 800
Damodara Colony	Rs. 800
Gopalpura	Rs. 2,300
Lalitadri Nagar	Rs. 10,000

Belgaum 

Area	Rate Per Sq. Ft.
Khadarwadi Apartments	Rs. 2,210
Madhavpura	Rs. 2,210
Royal Colony	Rs. 3,800
Ambedkar Nagar	Rs. 1,000
Rayanna Colony	Rs. 5,500
Khemewadi	Rs. 800
Baganvar Street	Rs. 1,800
Satwar Colony Area	Rs. 1,200
Ambadagatti	Rs. 600
Bammanal	Rs. 800
Dhaderakhoppa	Rs. 800
Hiremela	Rs. 800

Dharwad

Area	Rate Per Sq. Ft.
Amrut Nagar	Rs. 800
Gadag Hubli	Rs. 800
Basapur	Rs. 600
Sydapur Road	Rs. 800
Ibrahimpur	Rs. 600
K.H.B Colony	Rs. 2,800
Tirlapur State Highway	Rs. 700
Jamakhan Oni, Hubli Road	Rs. 1300
Durga Colony	Rs. 8000
Hanchinal	Rs. 300
Arekurahatti National Highway	Rs. 700
Kalawad	Rs. 500

Applicable Ready Reckoner Rates for Agricultural Land in Bangalore 

The state government of Karnataka has separately decided upon the circle rates for the agricultural land. These are as follows:

Locality in Bangalore	Circle Rate on area per acre basis
Ayurveda Hospital to RMC Hospital	Rs. 49,100
Gokulam Third Stage	Rs. 28,000
Janatanagar	Rs.11,800
Srirampura First Stage	Rs.23000
Ambedkar Colony	Rs.3,500
Kumbara Koppal Colony	Rs.6,500
Gokulam Main Road	Rs.38,400
B.M Sri Nagar Cross Road	Rs.28,000
Vani Vilas Market-D.Banumaiah Circle	Rs.32,000
Banumaiah Circle to KR Circle	Rs.68,200
Gokulam Cross Road	Rs.19,800
Metagalli Main Road	Rs.18,300
Kumbara Koppal Inner Cross Road	Rs.9,900
Karnataka Slum Development Board Houses	Rs.8,600
Srirampura Second Stage	Rs.24,000
Hale Ooru	Rs.8,500
B.M Sri Nagar Main Road	Rs.10,100
Karakushala Nagar	Rs.5,400
Contour Road EWS	Rs.19,700
Bogadi First and Second Stage	Rs.28,000
Kumbara Koppal Main Road	Rs.1,29,000
Gokulam First and Second Stage	Rs.25,000
Gokulam Fourth Stage	Rs.20,000
K.R Circle to Ayurveda Hospital Circle	Rs.1,15,000
RMC Circle to Highway Circle	Rs.32,600

The List of Bangalore Rural Sub-Registrar’s Office 

Bangalore East	Bangalore North	Bangalore South
Mini Vidana Soudha, Hoskote, Bangalore Rural District 561203 Contact: 27934525	Taluk Office Premises Devanahalli, Bangalore, Rural District 562110	Mini Vidana Soudha, Building, Magadi, Bangalore Rural District 562120. Contact: 27746750
Taluk Office Premises, BM Road, Channapatna, Bangalore Rural District :571501.  Contact: 27255412	Mini Vidana Taluk Office Doddabllapura Bangalore Rural District 561203 Contact: 27681021	Taluk Office Premises, Mini Vidana Soudha, building, Kanakpura, Ramnagar District, 571511. Contact: 27255412
	Contact: 27626876  Mini Vidana Soudha, building, Nelamangala Bangalore Rural District 562123	Taluk Office Premises, Old BM Road, Ramnagar Bangalore Rural District 571511 Contact: 27276270

The List of Bangalore Urban Sub-Registrar’s Office 

Bangalore East	Bangalore West	Bangalore North	Bangalore South
Indiranagar BDA Complex, Bangalore 560050 Contact: 25634517	No. 488 B-Block Karnataka Industrial Area Development Board Building, 14th cross 4th Phase, Peenya 2nd Stage, Bangalore 560058  Contact: 28366091	Sree Rundhreswara Chambers, Yelahanka New Town Bangalore 560064  Contact: 22959367	SLN Complex, Near RTS Bus Stand, Mysore Road, Kengeri Bangalore 560060  Contact: 28484159
Domlur BDA Complex, Bangalore 560038  Contact: 25352907	Sri Rameshwara Temple Commercial Complex Near Kannada Sahithya Parishat. IIIrd Main Road, Chamarjpet Bangalore 560018 Contact: 26606641	K.R Puram Near Santhemaala Bangalore 560036  Contact: 22959345	4th Block, Jayanagar, 12th Main Road, Near Jayanagar Complex, Bangalore 560041  Contact: 22959347
National Highway, Manjushree Chambers, KR Puram Bangalore 560036  Contact: 28472677	19/B, 2nd Floor V.K Iyengar Road, Gandhinagar Bangalore 560009 Contact: 22959353	No.69 Cholanayakanahalli R.T Nagar Post, Bangalore, 560032  Contact: 22959322	Taluk Office Premises, Mini Vidhana Soudha Anekal Bangalore 562106  Contact: 27841096
No. 7402,9th ‘A’ Main. II Cross, I block, HRBR Layout, Kalyan Bangalore 560043  Contact: 22959335	Near Vijayanagara Bus Stand, 2nd Main Road, Srirampura Bangalore 560040 Contact: 22959349	No.13 Laggere Main Road Andanappa Building, Parvathi Nagar Bus Stand Bangalore 560058 Contact: 22959323	No. 1105-9C Begur Village, Bangalore 560019  Contact: 22959328
No. 4 Jatar Circle Road, Whitefield Bangalore  560066 Contact: 22959342	5th Block, No 1034, Near Dhobi Ghat Rajijinagar Bangalore 560010  Contact: 22959350	No.25, D.M. Chambers, 3rd stage, RMEL Road Jawaharlal Nehru Road, RRNagar, Bangalore 560098 Contact: 22959329	No.1 Madanayakanahalli Dasanapura Hobli Bangalore Contact: 22959325
RRMP Building Near Ulsoor Lake Tank Bund Road Bangalore  560022 Contact: 22959369	No.40 IInd Stage, behind BDA Complex, Block-I Nagarabhavi Bangalore.  Contact: 22959315	Amrutha Nagara Konanakunte Bangalore 560062  Contact: 22959330	Additional District Registrar BDA Complex Kumara Park West Bangalore 560001  Contact: 22959343
1st floor, BM Complex, Mustandra Road, Opp. Dharmarayaswamy Temple Varthur Bangalore 560087  Contact: 22959198	No. 11, I Main Road, Guttahalli Bangalore 560003  Contact: 22959357	Bangalore South Taluka APCM Society Kanakpura Road Banashankari Bangalore 560070  Contact: 22959331	No.4 Survey No. 33/4A, BH Road, Dasanapura Dakhle Devannapalya Bangalore North Taluka  Contact: 22959326
	NO. 111, 9th Main Road, 3rd Stage, Pillanna Garden Kacharakanahalli Bangalore 560045  Contact: 22959321	NH-7, Opp. Police Station, Bellary Road, Bangalore North Taluk Bangalore 562157 Contact: 28467474	HC Puttaswamy Layout Hesaraghatta Bangalore North Taluk 560088  Contact: 28466100
		No. 70, 5th Main Ganganagar, Bangalore 560032  Contact:  22959259	No. 1943 Tavarekere Kengeri Road, Tavarekere Bangalore 562130  Contact: 28430714
		No.51 /C, 3rd Main Road Lorry Stand Godown Layout APMC Yard Yeshwanthpur Bangalore 560022  Contact: 22959366	No. 430, Anna Building Bonnasandra Industrial Area Hennagara Gate Hosur Main road Attibele Bangalore 560099  Contact: 27836583
		No. 167-168, BTM Layout I Stage, Tavarekere Main Road,  Bangalore 569076  COntact: 22959360	No 459/39/2, Bannerghatta, Village, Oppo. Police Station,  Bannerghatta, Bangalore 560083  Contact 27828207
			No. 50/1 Church Street Bangalore 560001  Contact: 22959354
			No. 2255, Karuna Complex, Sahakara, Nagara, Rajarajeshwari Road Bangalore, 560092 Contact: 22959341

Applicable Ready Reckoner Rates for other properties in Bangalore 

The state government of Karnataka has separately decided upon the circle rates for the agricultural land. These are as:

Locality in Bangalore	Circle Rate on area per acre basis
Ayurveda Hospital to RMC Hospital	Rs. 49,100
Gokulam Third Stage	Rs. 28,000
Janatanagar	Rs.11,800
Srirampura First Stage	Rs. 23,000
Ambedkar Colony	Rs.3,500
Kumbara Koppal Colony	Rs. 6,500
Gokulam Main Road	Rs. 38,400
B.M Sri Nagar Cross Road	Rs. 28,000
Vani Vilas Market-D.Banumaiah Circle	Rs. 32,000
Banumaiah Circle to KR Circle	Rs. 68,200
Gokulam Cross Road	Rs. 19,800
Metagalli Main Road	Rs. 18,300
Kumbara Koppal Inner Cross Road	Rs. 9,900
Karnataka Slum Development Board Houses	Rs. 8,600
Srirampura Second Stage	Rs. 24,000
Hale Ooru	Rs. 8,500
B.M Sri Nagar Main Road	Rs. 10,100
Karakushala Nagar	Rs. 5,400
Contour Road EWS	Rs. 19,700
Bogadi First and Second Stage	Rs. 28,000
Kumbara Koppal Main Road	Rs. 1,29,000
Gokulam First and Second Stage	Rs. 25,000
Gokulam Fourth Stage	Rs. 20,000
K.R Circle to Ayurveda Hospital Circle	Rs. 1,15,000
RMC Circle to Highway Circle	Rs. 32,600

What is the Revised Guidance Value for Circle Rates in Karnataka?

As we all know there is a direct nexus between the circle rates and the stamp duty and the property taxes. Let’s look at what is the updated percentage of the circle rates:

Type of the Property	Percentage of the Increase
Agricultural Land	Upto 50%
Flats/apartments	5%- 20%
Sites	5%-30%

What is the impact of the revised Circle Rates in Karnataka in the year 2024?

Due to the surge in the circle rates in Karnataka the prices of the properties drastically shot to heights. The agricultural sector was the most affected sector out of the above. Also the prices of flats and apartments rise by 5-20% and the prime locations affected by this are Electronic City, Yelahanka and KR Puram. For example the price of the properties in  Yelahanka increased from Rs. 7,000 to Rs. 11,500. 

Latest News about the Ready Reckoner Rates in Karnataka 

Ready reckoner rates are usually lower than the actual market prices of properties. Because of this, the Revenue Department of Karnataka has decided to adjust these rates to match changing market values better and to help prevent black money transactions.

To do this, the State Government has asked the BBMP (Bruhat Bengaluru Mahanagara Palike) to use a new method called the Guidance Value Method instead of the old Unit Area Value Method for calculating property taxes.

How to calculate the Circle Rates following the Age of the Property?

We have already understood that the circle rate is dependent upon the age of the property and this is why the older property has a lower circle rate as compared to the newer one. By using the multiplying factor approach the circle rate for the properties can be obtained. To find the exact circle rate we can use below formula:

Circle Rate = Base Rate + (Factor * Area Adjustment) + (Factor * Zone Adjustment)

Where:

Base Rate: The base rate set up by the state government.

Factor: A multiplier is determined based on different factors such as infrastructure, amenities, supply and demand in that area, etc.

Area Adjustment: An adjustment factor is based on the area or size of the property.

Zone Adjustment: An adjustment factor is based on a specific zone or locality.

Calculating Registration Charges and Stamp Duty in Bangalore

• Stamp duty counts for 3-5% of the market value of the property and the registration charges stand for 1-3% of the market value of the property. 

• For the property whose value is between Rs. 21-25 Lakhs the applicable Stamp duty is 3% and for the property whose Rs. 45 lakhs the applicable Stamp duty is 5% 

• The Stamp Duty in the Urban Area is 5.6% and the Rural Area is 5.65%

• For Instance: The market value of the property is Rs. 70 Lakhs and the Circle Rate is Rs. 60 Lakhs then the stamp duty will be charged on Rs. 70 Lakhs 

Conclusion

The Ready Reckoner/Circle Rates are the rates that determine the minimum standard rates for all the types of property in Karnataka. With the help of these rates, the exact market valuation and the potential growth of the region can be ascertained. 

Frequently Asked Questions Reckoner/ Circle Rates in Karnataka

Q1. How do you find the Circle rate of property in Karnataka?

Ans1. The property owner must visit the Department of Stamps and Registration’s online portal.

Q2. How to find the land market value in Karnataka?

Ans2. The property owner is required to log in to the Kaveri Portal and then the details of the property can be logged in to find the land market value in the area. 

Q3. What is the difference between the circle rate and the actual rate?

Ans3. The Circle Rate is the minimum land value determined by the state government however the actual rate is the market price of the property determined by the real estate agents. 

Q4. What is the Area Rate?

Ans4. An area rate is the rate of the total percentage of the assessment assigned to specific properties to recover their costs incurred by the municipality with regards to the installation and maintenance of the sidewalks. 

Q5. What is the guidance value in Karnataka 2024?

Ans5. The sub-registrar value in Karnataka is Rs. 5,000 per sq. ft. 

Q6. How to check the zone of land in Karnataka?

Ans6. The zone of land in Karnataka can be found by visiting the Bhoomi Land Record online portal

Q7. How to check the Circle Rate in Karnataka?

Ans7. The Circle rate in Karnataka can be checked by visiting the online portal of the Department of the Stamps and Registration

Q8. What is the latest guidance value in Karnataka?

Ans8. The latest guidance value has been increased by 30-50% in October 2023

Q9. What is the Stamp Duty in Karnataka 2024?

Ans9. The stamp duty in Karnataka 2024 is 5.6%

Q10. How to calculate the registration fees?

Ans10. The registration fee is calculated on the 1% of the market value of the property.