Big boost for affordable housing segment in Karnataka as the Govt has reduced stamp duty from 5% to 3%.
Presenting the Karnataka Budget for fiscal 2021-22 Chief Minister B S Yediyurappa announced the reduced stamp duty on apartments priced between Rs 35 lakh-45 lakh.
The state govt hopes this will spur real estate sales that have been slumping. Revenue from stamp and registrations will face a shortfall of over Rs 2000 cr this year as per the budget presented in the state assembly.