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Karnataka to slash stamp duty on new apartments costing up to Rs 35 lakh

The Chief Minister directed that the stamp duty be cut from the existing five per cent to two per cent on apartments costing less than Rs 20 lakh, getting registered for the first time

Housing demand fell 22% in H2 2019 amid slowdown in real estate market
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The stamp duty on apartments costing between Rs 21 lakh - Rs 35 lakh will be down from five per cent to three per cent

Agencies Bengaluru
Aimed at giving a boost to affordable housing, the Karnataka government on Tuesday decided to slash the stamp duty on new apartments costing up to Rs 35 lakh.

The decision was taken during a meeting chaired by Chief Minister B S Yediyurappa to review the progress of the Stamps & Registration department, news agency PTI reported.

The Chief Minister directed that the stamp duty be cut from the existing five per cent to two per cent on apartments costing less than Rs 20 lakh, getting registered for the first time, his office said in a statement.

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First Published: May 27 2020 | 9:40 AM IST

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