Circle rates rarely decrease substantially
Circle rate of an immovable property is prescribed every year by the concerned state govt and may be revised on an yearly basis considering various factors
Most state govts either maintain or increase the guidance value on an yearly basis
I have a piece of land that I wish to sell at a premium to the guidance value as the buyer intends to use the land for quarrying purposes. I want to register at a premium above the guidance value as I do not want any cash component in the sale. However, the buyer wants to register at the guidance value. His contention is that if the land is registered at a premium value, then he will not be able to sell it (or register) at a value below that in future. Is that right?