Valuers World
  
Stamp duty in karnataka

 
Post new topic   Reply to topic    Valuers World Forum Index -> Valuation for Stamp Duty
(HELP?) View previous topic :: View next topic  
Author Message
kgr123



Joined: 30 Aug 2008
Posts: 3

PostPosted: Mon Apr 19, 2010 10:50 am    Post subject: Stamp duty in karnataka Reply with quote

 The stamp duty in karnataka has been reduced since feb 2009. Stamp duty reduced from 7.5 per cent to 6 per cent. An article from The Hindu dated 21 feb2009 says 

In what could provide relief to thousands of property buyers across the State, the State Government has reduced the stamp duty from 7.5 per cent to six per cent on sale of all kinds of immovable property, including agricultural land, a move that is also expected to boost the construction industry. While stamp duty on agreements and arbitration awards has increased, the tax on the lease of immovable property has been brought down.

A significant portion of the department’s revenue comes from registration of land, and the stamp duty on such transaction has been reduced due to decline in sale and transfer of immovable properties following the economic crisis.

The Stamps and Registration Department, which collected Rs. 3,630.73 crore during 2007-2008, has been able to collect only Rs. 2,757.97 crore during 2008-2009, by registering 8.7 lakh documents till January. The total expected revenue collection by the end of the financial year is Rs. 3,200 crore, a shortfall of Rs. 400 crore in revenue.

KG Ramesh, SRI ESWAR ASSOCIATES,

 

Back to top
View user's profile Send private message

Display posts from previous:   
Post new topic   Reply to topic    Valuers World Forum Index -> Valuation for Stamp Duty
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You can download files in this forum

You are visitor no. 17624107


Copyright ValuersWorld.com © 2008

Powered by Kragos