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Karnataka stamp duty cut on flats to have limited impact on sales

Listed players such as Brigade, Sobha, Puravankara seek reduction across all budget segments

Topics
Puravankara Projects | Sobha Developers | Brigade group

Samreen Ahmad  |  Bengaluru 



real estate, architect, realty, construction, sales, people, flats, buildings, concrete, vendors, developers, builders
According to Puravankara the move will push several fence-sitters who were waiting for a lucrative opportunity to invest

After Maharashtra, Karnataka has reduced the stamp duty charges to 3 per cent from 5 per cent for homes valued between Rs 35 lakh and Rs 45 lakh. According to industry players, with housing demand largely skewed towards the mid segment involving properties priced within the Rs 50 lakh to Rs 1 crore budget range, the move will have a limited impact in the state unlike Maharashtra which had reduced stamp duty for properties across all budget segments.

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First Published: Mon, March 08 2021. 18:16 IST

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