Karnataka : Property stamp duty from 6% to 5%

In Karnataka recently stamp duty had been reduced from 6% to 5% on sale deeds. The registration charge of 1% , however, remains.

The stamp duty reduction translates into savings of Rs. 25,000 on a Rs 25 lakh property.
Reducing the stamp duty will make the product more affordable especially in today's high inflationary scenario. The move is in line with the JNNURM ( Jawaharlal Nehru National Urban Renewal Mission) directive to state governments to maintain uniformity in stamp duty.

The  budget has also reduced stamp duty from 6% to 1% (subject to a maximum of Rs. 15 lakh) on the market value of the property in respect to joint development agreements and power of attorney.
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