Karnataka cuts stamp duty on registration of apartments

Karnataka government cuts stamp duty on registration of low-cost apartments

This will be applicable for the first registration of these apartments

Representative image. Credit: DH file photo

The Karnataka Cabinet on Thursday decided to slash stamp duty on registration of apartments that cost Rs 35-45 lakh from 5 per cent to 3 per cent, providing relief to home buyers looking for affordability.

This will be applicable for the first registration of these apartments.

There is also a proposal for upward revision of guidance value. "This will be examined by the specific committee constituted for it," Law Minister Basavaraj Bommai said, briefing reporters.

The Cabinet also approved the construction of four lakh houses in rural areas under various schemes including Basava Housing Scheme, Dr BR Ambedkar Housing Scheme and Devaraj Urs Housing Scheme and one lakh houses in urban areas under Vajapayee City Scheme and BR Ambedkar Housing Scheme (Urban).

This will cost the government Rs 8,000 crore over the next two years and the Finance Department has already given its sanction, Bommai said.

Also, in Bengaluru, the government had earlier approved construction of one lakh apartments for which there was a requirement of Rs 500 crore to provide basic infrastructure. This, too, was approved by the Cabinet.

That apart, the state government will soon set up Centres of Innovation and Development in Smart Agriculture (CIDSA) in coordination with Hexagon Manufacturing Intelligence India, in all the agriculture universities in the state.

These centres will help employ technology in agriculture for smart assessment of crop pattern, crop survey among other activities. The cost of these centres would be Rs 110 crore per varsity, of which Rs 85 crore will be borne by the company and the rest by the state government, Bommai said.

In other decisions, the Cabinet approved the implementation of the Karnataka Arogya Sanjeevini Scheme to provide cashless medical treatment for state government employees and their families.

It was also decided to issue income and asset certificates to beneficiaries of the 10 per cent EWS quota from castes other than those in the existing reservation categories.

And, the Cabinet accorded administrative approval for the detailed project report (DPR) to upgrade the existing 248 MLD water treatment plants at KC Valley at an estimated cost of Rs 718 crore as per the standard stipulated by the National Green Tribunal.

Ayush varsity in Shivamogga

The Cabinet granted administrative approval for Ayush University to be established in Shivamogga, which is Chief Minister BS Yediyurappa's home district. The Cabinet also approved a peripheral cancer centre in the Shimoga Institute of Medical Sciences at a cost of Rs 50 crore. These decisions involving Shivamogga come at a time when Yediyurappa's exit looks imminent.

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