Stamp duty cut on land for industries

In yet another move for the benefit of industrialists, the Karnataka Cabinet on Thursday decided to reduce stamp duty registration charge for land acquired for setting up industries from 5% to 2%.

The decision is aimed at attracting investments under the new industrial policy of 2020-25, which envisages concessional registration charges for industrial lands, said Law and Parliamentary Affairs Minister J.C. Madhuswamy. The government has already reduced stamp duty from 5% to 2% for apartments costing less than ₹20 lakh in August last.

The Cabinet gave administrative approval for ₹130 crore for rejuvenation of areas falling under the Harangi reservoir. A sum of ₹35 crore was approved for construction of a check dam in Kokarne gram panchayat limits of Brahmavar taluk in Udupi district under the Paschima Vahini project.

It approved release of ₹35 crore for construction of a check dam at Heruru village in Brahmavar taluk under the Paschima Vahini programme. The Cabinet also gave administrative approval to borrow ₹7,438 crore for the Bengaluru suburban railway project, which is being implemented jointly by the Centre and the State.

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Printable version | Jun 22, 2021 8:31:01 PM | https://www.thehindu.com/news/national/karnataka/stamp-duty-cut-on-land-for-industries/article33087495.ece

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