Ruby (Manik) Stone Price per Carat & Ratti: Real Prices from 249 Certified Rubies
A natural, certified ruby (Manik) in India costs from under ₹1,000 to over ₹2,50,000 per carat, depending mostly on origin, colour and treatment. In Kumud Fine Jewellery's stock of 249 IGTL-certified rubies on 13 November 2026, the median price was about ₹8,450 per carat, including 3% GST. Budget rubies (natural Indian and South African stones, and glass-filled rubies) cost about ₹1,000 to ₹6,200 per carat. Heated Mozambique rubies had a median of about ₹28,800 per carat, and heated Burma rubies about ₹36,000 per carat. Unheated Burma rubies were the most expensive, with a median of about ₹56,650 per carat and the finest at about ₹2,88,000 per carat. In ratti (1 ratti = 0.91 carat), that is roughly ₹900 to ₹2,62,000 per ratti. Glass-filled rubies are much cheaper and less durable, so always read the treatment line on the certificate before comparing prices.
Ruby price per carat and per ratti (our stock, 13 November 2026)
Of the 249 IGTL-certified rubies on our site that day, 248 are grouped below by origin and treatment as stated on each certificate (one dyed ruby is left out). Prices include 3% GST. We use 1 ratti = 0.91 carat. Each stone's live price is on its product page.
| Origin and treatment | Stones | Price per carat | Median per carat | Price per ratti | Median per ratti | 2-ratti stone (1.82 ct) at the median |
|---|---|---|---|---|---|---|
| Indian, unheated | 11 | ₹978–979 | ₹979 | ₹890–891 | ₹891 | ₹1,782 |
| South African, unheated | 69 | ₹3,090 | ₹3,090 | ₹2,812 | ₹2,812 | ₹5,624 |
| Glass-filled (budget) | 33 | ₹1,236–6,180 | ₹4,120 | ₹1,125–5,624 | ₹3,749 | ₹7,498 |
| Mozambique, unheated | 16 | ₹20,085–80,340 | ₹20,085 | ₹18,277–73,109 | ₹18,277 | ₹36,555 |
| Mozambique, heated | 42 | ₹8,446–80,340 | ₹28,840 | ₹7,686–73,109 | ₹26,244 | ₹52,489 |
| Burma, heated | 35 | ₹18,540–1,64,800 | ₹36,050 | ₹16,871–1,49,968 | ₹32,806 | ₹65,611 |
| Madagascar, unheated | 3 | ₹37,080–46,350 | ₹46,350 | ₹33,743–42,178 | ₹42,178 | ₹84,357 |
| Burma, unheated | 39 | ₹3,090–2,88,400 | ₹56,650 | ₹2,812–2,62,444 | ₹51,552 | ₹1,03,103 |
Real examples from our stock
| Lot | Weight | Origin | Certificate says | Price (incl. GST) |
|---|---|---|---|---|
| NIP036 | 5.26 ct | India | Natural, unheated | ₹5,147 |
| RU048 | 1.60 ct | South Africa | Natural, unheated | ₹4,944 |
| GFBR176 | 2.87 ct | Not stated | Glass-filled (lead glass) | ₹11,824 |
| MOHR177 | 1.78 ct | Mozambique | Natural, heated | ₹51,335 |
| BUHR210 | 1.77 ct | Burma | Natural, heated (moderate residue) | ₹63,809 |
| BUHR243 | 2.57 ct | Burma | Natural, unheated | ₹1,45,591 |
All six were tested by International Gem Testing Laboratory (IGTL), Jaipur. The certificate image is on each product page.
What drives the price of a ruby
- Colour. A vivid, even red is worth far more than a dark, brownish or pinkish red. This is why some unheated rubies are cheap: they are untreated, but their colour and clarity are lower.
- Treatment. Heating is common, permanent and accepted. Unheated stones of fine colour cost the most. Glass-filled rubies have cracks filled with lead glass; they are the cheapest and can be damaged by heat, acids and some jewellery repairs.
- Origin. Burma (Myanmar) is the classic source and usually commands the highest prices, followed by Mozambique and Madagascar.
- Size. Price per carat rises with size for good-quality stones. Jyotish tradition often suggests 3 carats or more for an astrological ruby.
How to buy a ruby with confidence
- Ask for the lab report and read the treatment line: "no indication of heating", "heated" or "glass filling".
- Compare stones of the same treatment and similar colour, not just the same weight.
- Check the report number online with the lab. See our guide How to read a gemstone certificate.
- Prefer a seller who shows the stone on video and lets you return a loose stone. Loose gemstones from Kumud can be returned within 10 days of delivery under our return policy.
Frequently asked questions
What is the price of ruby (Manik) per carat in India?
Certified natural rubies range from under ₹1,000 per carat for budget Indian and African stones to over ₹2,50,000 per carat for fine unheated Burma rubies. In our stock of 249 IGTL-certified rubies on 13 November 2026, the median was about ₹8,450 per carat, including GST.
What is the price of Manik per ratti?
Using 1 ratti = 0.91 carat, certified rubies in our stock cost about ₹900 to ₹2,62,000 per ratti. At the median, heated Mozambique rubies were about ₹26,200 per ratti, heated Burma rubies about ₹32,800 per ratti and unheated Burma rubies about ₹51,600 per ratti.
Is a heated ruby natural?
Yes. A heated ruby is a natural ruby that was heated after mining to improve its colour. Heating is permanent and widely accepted, and the certificate will say the stone is natural and heated.
What is a glass-filled ruby and why is it so cheap?
It is a natural ruby whose cracks have been filled with lead glass to improve its look. It costs much less, at about ₹1,200 to ₹6,200 per carat in our stock, and it can be damaged by heat, acids and some jewellery repairs. Its certificate says "glass filling".
Which ruby is best: Burma or Mozambique?
Burma (Myanmar) rubies are the most famous and usually the most expensive; in our stock heated Burma rubies had a median of about ₹36,000 per carat, against about ₹28,800 for heated Mozambique rubies. Compare each stone's colour, clarity and treatment, not origin alone.
Browse our certified rubies. Every stone shows its certificate and video, or message us on WhatsApp for a live viewing.
Need personalised guidance?
Our gemstone team can help you choose a stone, read a certificate or understand a price. Use our free recommendation tool or reach out on WhatsApp.
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