Affordable housing! Karnataka government slashes 2% stamp duty on flats below Rs 45 lakh; Check these stocks in focus
Earlier the stamp duty was 5 per cent, which has been reduced to 3 per cent now.
The wait is finally over! Buying a house is more affordable now. But where to buy is a big question? In Mumbai, Maharashtra, or Karnataka. Is it cheaper to buy a house in Karnataka? Will the real estate sector in South India benefit? Senior Producer Mansi Dave shared all the details on this.
Dave said that despite all the odds, real estate is the most outperforming sector. The Karnataka government has slashed the stamp duty rate. The South India real estate sector is in news because of this.
She further added that buying a house is now more affordable in Karnataka because the state government has taken this decision to reduce the stamp duty rate. A deduction of 2 per cent is done. Earlier the stamp duty was 5 per cent, which has been reduced to 3 per cent now. This will be applicable to flats priced between Rs 35 lakh and Rs 45 lakh.
Dave said that this reduction however will be included only in the primary sale of properties. With this step, the real estate in the southern part of India will get a boost. The middle-class and the lower middle-class, who are planning to buy the houses, will be now capable of doing so.
In Bengaluru, there are more than lakh unsold flats. So, with this decision, the unsold inventory problem is expected to solve. Because when people will start thinking about buying the properties, then the purchase of these unsold, under-construction houses will surely pick up the pace, she added.
Dave asserted that real estate companies like Sobha Developers, Brigade Enterprises, Kolte Patil, Prestige, Puravankara, Arvind Smartspaces will be now in focus after this decision.
कर्नाटक में घर खरीदना सस्ता हुआ?
कर्नाटक सरकार ने स्टैम्प ड्यूटी 5% से घटाकर 3% की
क्या होंगे स्टैम्प ड्यूटी घटने के फायदे ?
क्या दक्षिण भारत में रियल एस्टेट सेक्टर को होगा फायदा?
— Zee Business (@ZeeBusiness) September 22, 2021
Similarly, Zee Business Managing Editor Anil Singhvi said that these are Karnataka real estate companies’ shares performed well on 21st and 22nd September.
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