Karnataka budget reduces housing stamp duty
ECONOMY & POLICY

Karnataka budget reduces housing stamp duty

Karnataka Chief Minister B S Yediyurappa presented the state budget for the fiscal year 2021-22 on Monday, March 8, in the State Assembly. The budget speech called “Karnataka Vikasa Patra 2021” included some major allocations for real estate and transport.

Key highlights of the budget include allocation of Rs 850 crore for the suburban rail project in Bengaluru, the introduction of the “Swiss Challenge” tender to take up peripheral Ring Road works around the capital city, and allocations for mega integrated industrial townships to be constructed at Bengaluru-Mumbai and Bengaluru-Chennai industrial corridor.

Some of the key highlights of the Karnataka Budget are:

1. Allocation of Rs 7,795 crore━scaled down by 20% from last year’s budget━for comprehensive development of Bengaluru.
2. Special incentive scheme in the ESDM sector and CM’s Mega Integrated Industrial Townships at two places, each in an area of a minimum of 500 acres. The projects are expected to attract an investment of Rs 15,000 crore, creating 5 lakh jobs.
3. Stamp duty for the first registration of apartments costing Rs 35 lakh to 45 lakh to be reduced to 3% from 5%.
4. Allocation of Rs 850 crore for the suburban rail project in Bengaluru.
5. Doubling of Yeswantpur-Channasandra and Byappanahalli-Hosur lines to be completed by 2023.
6. Allocation of Rs 463 crore as a grant for the Dharwad-Kittur-Belagavi rail line.
7. Allocations made for the Bengaluru Signature Business Park to come up next to Kempegowda International Airport Limited (KIAL).
8. Upgradation works of 248 MLD capacity sewage treatment plant at KC Valley at a cost of Rs 450 crore.
9. “Swiss Challenge” tender to take up Peripheral Ring Road works around Bengaluru.

Karnataka Chief Minister B S Yediyurappa presented the state budget for the fiscal year 2021-22 on Monday, March 8, in the State Assembly. The budget speech called “Karnataka Vikasa Patra 2021” included some major allocations for real estate and transport. Key highlights of the budget include allocation of Rs 850 crore for the suburban rail project in Bengaluru, the introduction of the “Swiss Challenge” tender to take up peripheral Ring Road works around the capital city, and allocations for mega integrated industrial townships to be constructed at Bengaluru-Mumbai and Bengaluru-Chennai industrial corridor. Some of the key highlights of the Karnataka Budget are: 1. Allocation of Rs 7,795 crore━scaled down by 20% from last year’s budget━for comprehensive development of Bengaluru. 2. Special incentive scheme in the ESDM sector and CM’s Mega Integrated Industrial Townships at two places, each in an area of a minimum of 500 acres. The projects are expected to attract an investment of Rs 15,000 crore, creating 5 lakh jobs. 3. Stamp duty for the first registration of apartments costing Rs 35 lakh to 45 lakh to be reduced to 3% from 5%. 4. Allocation of Rs 850 crore for the suburban rail project in Bengaluru. 5. Doubling of Yeswantpur-Channasandra and Byappanahalli-Hosur lines to be completed by 2023. 6. Allocation of Rs 463 crore as a grant for the Dharwad-Kittur-Belagavi rail line. 7. Allocations made for the Bengaluru Signature Business Park to come up next to Kempegowda International Airport Limited (KIAL). 8. Upgradation works of 248 MLD capacity sewage treatment plant at KC Valley at a cost of Rs 450 crore. 9. “Swiss Challenge” tender to take up Peripheral Ring Road works around Bengaluru.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code