Sub-registrar offices in B'luru, Mysuru to open today

Property registrations in Bengaluru and Mysuru are expected to resume as sub-registrar offices will open in these two cities starting Wednesday.

Revenue Minister R Ashoka said sub-registrar offices located in areas identified as Covid-19 containment zones will not open.

"Sub-registrar offices are open across the state, except in Bengaluru and Mysuru. In these two cities, sub-registrar offices located in a one-km radius of containment zones will not be open and people cannot visit them. All other sub-registrar offices in Bengaluru and Mysuru will open from Wednesday," Ashoka said.

Property registration is a crucial source of revenue for the government, fetching nearly Rs 11,000 crore in the 2019-20 fiscal. The government aims to mop up Rs 12,655 crore in the 2020-21 fiscal.

Since March 24, when the nationwide lockdown came into effect, Ashoka estimates that the government lost about Rs 1,000 crore by way of stamp duty and registration fees.

This year, the government has decided to reduce the stamp duty from 5% to 2% on first-time registration of new apartments/flats costing less than Rs 20 lakh.