Karnataka cuts stamp duty by 2 % for flats up to 45 lakhs

In a relief to flat buyers in Karnataka, the state government has cut the stamp duty by 2 per cent for residential apartments costing between Rs 35 lakhs and Rs 45 lakhs. The Karnataka government has passed the Stamp and Duty Amendment Bill 2021 in the ongoing monsoon session in Vidhana Soudha on Tuesday. According to the act, stamp duty will be reduced from 5% to 3% for residential apartments costing from ₹35 to ₹45 lakhs.

Bengaluru (Karnataka):In a relief to flat buyers in Karnataka, the state government has cut the stamp duty by 2 per cent for residential apartments costing between Rs 35 lakhs and Rs 45 lakhs. The Karnataka government has passed the Stamp and Duty Amendment Bill 2021 in the ongoing monsoon session in Vidhana Soudha on Tuesday. According to the act, stamp duty will be reduced from 5% to 3% for residential apartments costing from ₹35 to ₹45 lakhs.

The state government also passed BWSSB Amendment Act that aims to increase groundwater level by rainwater harvesting in Bengaluru. The Act emphasis on rainwater harvesting and any sites above 30X40 is made compulsory to adopt rainwater harvesting. The Act reasoned that if the groundwater table is improved by harvesting rainwater, the dependency on the Cauvery water supply would reduce.

A total of 10 bills were tabled and passed on Tuesday's session at the assembly. During the session chief minister, Basawaraj Bommai said that three lakh street lights will be installed in Bengaluru by the end of December. And the government proposes to carry this out in five stages. The installation and maintenance of street lights will be under a Public-Private Partnership, he said during the zero hour.

On Shri Guru Raghavendra Bank, the case won't be given to CBI said Cooperation Minister Somashekar. As RBI has floated a committee to look into the matter, this case won't be transferred to the Central Bureau of Investigation, the minister said in the Legislative Council session on Tuesday.

Read:Suspected Nipah case reported from Karnataka