Author: [Generated for Academic Purpose] Publication Date: April 2026 Abstract The Jantri (also known as the Circle Rate or Ready Reckoner) is a legally significant instrument in the Indian state of Gujarat. It represents the minimum government-determined valuation of immovable property for the purpose of collecting stamp duty and registration fees. This paper examines the historical evolution, functional mechanics, socio-economic impact, and the controversial 2021 revision of the Gujarat Jantri. It argues that while the Jantri serves a crucial fiscal function in curbing under-valuation and ensuring state revenue, its periodic revision creates profound market distortions, affecting affordability, liquidity, and land titling. By analyzing primary government notifications and secondary market reports, this paper concludes that the Gujarat Jantri has transitioned from a mere administrative tool into a de facto price control mechanism, necessitating a more dynamic and transparent valuation methodology. 1. Introduction In India, land is a state subject under the Seventh Schedule of the Constitution. Consequently, each state operates its own system of property valuation for stamp duty. Gujarat, one of India’s most industrialized and urbanized states, employs the Jantri system—a schedule of minimum land and property prices categorized by zone, road width, usage (residential, commercial, industrial), and Floor Space Index (FSI).