Karnataka govt to introduce bill to reduce stamp duty from 5% to 3%

28 Aug 2021 CW Team

Karnataka state government intends to introduce an amendment bill to codify its decision to reduce stamp duty for flats priced between Rs 35 lakh and Rs 45 lakh from 5% to 3%. The reduction had been announced previously.

The Karnataka State Stamps (Amendment) Bill, 2021, according to the parliamentary affairs department, is ready to be tabled in the legislative assembly and council during the monsoon session, which begins on September 13.

G Sridhar, the department secretary, claims that it will be one of four to five bills introduced. The procedural steps have been completed, and he expects the bill to be tabled early in the monsoon session.

A bill establishing a prisons development board as well as an amendment allowing for audio and video recording of witnesses are also on the table.

Last month, the cabinet approved the stamp duty reduction amendment, and chief minister Basavaraj Bommai reportedly instructed officials to bring the bill to the House as soon as possible.

When BS Yediyurappa was chief minister, the proposal was announced in the budget for 2021-22. The government remained under fire as the proposal remained on paper.

Many people held off on registering new properties until the government announced the new tax structure.

Over 3,500 property buyers were sent back from 252 sub-registrar offices between April and July, according to a stamps and registration department official.

Only about 200 people chose to pay the 5% duty. Developers and would-be homebuyers want stamp duty to be reduced across the board, as this would help the sector recover.

Image Source

Also read: Maharashtra records 93% property registration revenue hike in July

Infrastructure Urban

07 Oct 2025

KEC Wins Rs 11 Billion Orders Across Key Sectors

KEC International Ltd., a global infrastructure EPC major and part of the RPG Group, has announced the securing of new orders worth Rs 11 billion across its diverse business verticals.In the civil segment, the company received a prestigious order for civil and structural works of a 150 MW thermal power plant from a leading private player in India.In the transportation business, KEC bagged contracts under the Train Collision Avoidance System (TCAS) programme, known as ‘Kavach’, aimed at enhancing rail safety in India.The transmission and distribution (T&D) division won orders for the su..

RITES Bags Rs 362 Million Order From DVC

RITES Limited, a Schedule 'A' enterprise under the Government of India, has announced that it has received a major domestic work order from the Damodar Valley Corporation (DVC). The company disclosed the development in a filing to the BSE and NSE dated 2 October 2025. The total contract value stands at Rs 362 million (excluding GST).Under the agreement, RITES will provide comprehensive services for the DVC Mejia Thermal Power Station. The scope of work includes the Annual Maintenance Contract (AMC) for Railway Sidings tracks, Operation and Maintenance (O&M) of Signalling and Telecommunicat..

Greta Minerals Doubles WA Exploration Land, Targets Lithium Supply for India

Greta Minerals Pte, part of Singapore-based Greta Group, has expanded its exploration footprint in Western Australia to 1,550 sq km, up from 700 sq km acquired in 2024.Nitesh Chaudhari, Chairman of Greta Group, said, “We are very happy to expand our landholding, encouraged by initial results from Ultrafine+ soil sampling at Gecko North. The geological corridor appears promising for lithium, gold, and other critical minerals.”The Gecko North Project, 25 km northwest of Coolgardie, is one of seven critical mineral and gold projects under Greta Minerals (Australia) Pty, which now holds 37 gra..