Stamp Duty: The Government of Karnataka has taken a big decision in the budget. Stamp duty has decreased on the purchase of a house in Karnataka. The stamp duty on the purchase of houses from 35 lakh to 45 lakh rupees was reduced from 5 percent to 3 percent.
Good news for home buyers. Yeddyurappa government of Karnataka has made a big cut in stamp duty. Karnataka Chief Minister BS Yeddyurappa on Monday announced the reduction of stamp duty from 5 per cent to 3 per cent on the purchase of houses ranging from 35 lakh to 45 lakh rupees. CM Yeddyurappa made this announcement while presenting the Karnataka State Budget for the year 2021-22. This decision of the government will give a big relief to flat buyers ranging from 35 to 45 lakh rupees.
How much will be the savings –
After the reduction in stamp duty, a flat buyer of Rs 35 lakh will save Rs 70,000 and on the purchase of a house of Rs 45 lakh will save Rs 90,000. In addition, in his budget speech, Yeddyurappa said that the gross state domestic product (GSDP) declined by 2.6 per cent. GSDP declined due to the lockdown imposed to prevent the spread of corona infection.
Maharashtra government also cut stamp duty
Let me tell you that before this, the Maharashtra government had made a big cut in stamp duty. Maharashtra government had cut the stamp duty for registration of the house from September 2020 to give a boost to the real estate sector. From September to December 2020, stamp duty was kept at 2 per cent and from January to March 2021, a decision was taken for 3 per cent stamp duty. Before September, a 5 percent stamp duty fee was required to be paid for house registration in Maharashtra.
