Karnataka may hike property registration charges

21 Jun 2013 CW Team

Karnataka Revenue Minister V Srinivas Prasad has hinted at that there may be steep increase in stamps and registration duty in the state. Besides stamps duty, guidance value of all the regions in the state would be increased, Prasad maintained. The proposed hike is expected to mobilze resources to implement the Congress's flagship scheme of Re 1 per kg rice, which would cost additional Rs 4,500 crore. The government wants to mop up revenue from all the revenue earning departments.

To keep reality sector in good humour, the BJP government had reduced stamp duty from 6 per cent to 5 per cent. The Congress is expected to reverse this and may increase beyond 6 per cent. In the budget presented in March, Shettar had set revenue collection target of Rs. 6,100 crore from stamps and registration for the year 2013-14. Present Chief Minister Siddaramaiah's budget is scheduled to be presented on July 12 and he is likely to set a Rs 1,000 crore more target for the current year, besides measures to plug leakages.

For the year 2012-13, a revenue collection target Rs 5,200 crore was fixed for the department. Going by Prasad's statement, a sweeping change is also expected in the Joint Development Agreements (JDA) set up. Slashing the high fee, the BJP government had fixed mere Rs 200 for the JDAs.

Two years ago, joint development agreements were treated like sale agreements, attracting 6% stamp duty levy and 1% registration fee, both on joint development agreement and related power of attorney. However, in the 2012 budget, the State government reduced the stamp duty from 6 per cent to 1 per cent (subject to a maximum of Rs 15 lakh) on the market value of the property.

Real Estate

04 Sep 2025

Mumbai Records 11,230 Property Deals in August 2025

Mumbai’s property market remained resilient in August 2025, with 11,230 property registrations recorded under the Brihanmumbai Municipal Corporation (BMC) jurisdiction, according to data released by Knight Frank India. While this marks a 3 per cent year-on-year (YoY) decline compared to 11,631 registrations in August 2024, activity stayed robust despite the marginal dip.On a month-on-month (MoM) basis, registrations fell 11 per cent from 12,579 deals in July 2025, indicating seasonal moderation. However, the city’s stamp duty collections still reached Rs 10 billion, reflecting a 6 per cent..

68 Jammu-Katra Trains Cancelled Amid Rain Damage

Jammu and Katra railway services remain severely affected as Northern Railway announced the cancellation of 68 trains—both incoming and outgoing—until 30 September, due to extensive track damage caused by heavy rains and flash floods. Meanwhile, 24 trains are scheduled to resume operations gradually.The Jammu railway division has experienced a complete halt in services for the past eight days, following track misalignment and breaches at several points along the Pathankot–Jammu section. Torrential rainfall since 26 August led to widespread flooding and damage, stranding hundreds of passe..

Bangalore Metro MD Reviews Reach 6 and Phase 2A Progress

Bangalore Metro Rail Corporation Limited (BMRCL) Managing Director, Dr J Ravishankar, IAS, conducted inspections of key metro corridors on 29 and 30 August, reviewing the progress of Reach 6 (Pink Line) and Phase 2A (Blue Line).On 30 August, the inspection covered Reach 6, a 21.39-km corridor stretching from Kalena Agrahara to Nagawara, with 18 stations. This stretch is part of Phase 2 of the Bangalore Metro project. Dr Ravishankar assessed the status of civil works, finishing, track laying, and system integration between Kalena Agrahara and MG Road.Earlier, on 29 August, the MD inspected Phas..