K'taka Budget cuts stamp duty on flats to 3pc

The Karnataka Budget for fiscal 2021-22 reduced stamp duty on buying apartments priced Rs 35-45 lakh to 3 per cent from 5 per cent, said Chief Minister B.S. Yediyurappa on Monday.

"To promote affordable housing, the stamp duty for registering apartments valued Rs 35-45 lakh is proposed to be reduced to 3 per cent from 5 per cent," said Yediyurappa while presenting the state Budget for the ensuing fiscal.

The Budget has set Rs 12,655-crore target for the coming fiscal (2021-22) from the state stamps and registrations department.

"The department has collected Rs 9,014-crore from stamps and registrations till February from across the state as against the annual target of Rs 12,655 crore for this fiscal (2020-21)," said Yediyurappa.